What is Definition of Mission Statement? A sentence describing a company’s function, markets and competitive advantages; a short written statement of your business goals and philosophies. Difference of Advantages and Disadvantages of Diversity Management.
A mission-statement defines what an organization is, why it exists, its reason for being. At a minimum, your mission-statement should define who your primary customers are, identify the products and services you produce, and describe the geographical location in which you operate.
If you don’t have a mission-statement, create one by writing down in one sentence what the purpose of your business is. Ask two or three of the key people in your company to do the same thing. Then discuss the statements and come up with one sentence everyone agrees with. Once you have finalized your mission-statement, communicate it to everyone in the company.
It’s more important to communicate the mission-statement to employees than to customers. Your mission-statement doesn’t have to be clever or catchy just accurate.
If you already have a mission-statement, you will need to periodically review and possibly revise it to make sure it accurately reflects your goals as your company and the business and economic climates evolve. To do this, simply ask yourself if the statement still correctly describes what you’re doing.
If your review results in a revision of the statement, be sure everyone in the company is aware of the change. Make a big deal out of it. After all, a change in your mission probably means your company is growing-and that’s a big deal.
Once you have designed a niche for your business, you’re ready to create a mission-statement. A key tool that can be as important as your business plan, a mission-statement captures, in a few succinct sentences, the essence of your business’s goals and the philosophies underlying them. Equally important, the mission-statement signals what your business is all about to your customers, employees, suppliers and the community.
The mission-statement reflects every facet of your business: the range and nature of the products you offer, pricing, quality, service, marketplace position, growth potential, use of technology, and your relationships with your customers, employees, suppliers, competitors and the community. Components of a Strategy Statement.
Provides direction: Mission-statements are a way to direct a business into the right path, it plays a part in helping the business make better decisions which can be beneficial to them. Without the mission-statement providing direction, businesses may struggle when it comes to making decisions and planning for the future, this is why providing direction could be considered one of the most advantageous points of a mission-statement.
Clear purpose: Having a clear purpose can remove any potential ambiguities that can surround the existence of a business. People who are interested in the progression of the business, such as stakeholders, will want to know that the business is making the right choices and progressing more towards achieving their goals, which will help to remove any doubt the stakeholders may have in the business.
The benefit of having a simple and clear mission-statement is that it can be beneficial in many different ways. A mission-statement can help to play as a motivational tool within an organization. It can allow employees to all work towards one common goal that benefits both the organization and themselves. This can help with factors such as employee satisfaction and productivity. It is important that employees feel a sense of purpose. By giving them this sense of purpose it will allow them to focus more on their daily tasks. Help them to realize the goals of the organization and their role.
Although it is mostly beneficial for a business to craft a good mission-statement. There are some situations where a mission-statement can be considered pointless or not useful to a business.
Unrealistic: In most cases, mission statements turn out to be unrealistic and far too optimistic. An unrealistic mission statement can also affect the performance and morale of the employees within the workplace. This is because an unrealistic mission statement would reduce the likelihood of employees being able to meet this standard which could demotivate employees in the long term. Unrealistic mission statements also serve no purpose and can consider a waste of management’s time. Another issue which could arise from an unrealistic mission statement is that poor decisions could made in an attempt to achieve this goal. Which has the potential to harm the business and seen as a waste of both time and resources.
Waste of time and resources: Mission-statements require planning, this takes time. Effort for those who are responsible for creating the mission statement. If the mission-statement is not achieve, then the process of creating. The mission-statement could seen as a waste of time for all of the people involve. A lot of thought and time is spent in designing a good mission-statement. And to have all of that time wasted is not what businesses can afford to doing. The wasted time could have spent on much more important tasks within the organization such as decision-making for the business.
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