Introduction
A mission statement is a statement of the purpose of a company or organization, its reason for existing.
The mission statement should:
- Guide the actions of the organization;
- Spell out its overall goal;
- Provide a path;
- Show what your customers receives; and
- Guide decision-making.
It provides framework around which strategy will be formed.
MIssion Statement
A mission statement will help your company reach its goals.
Creating a Winning Mission Statement
Effective mission statements start by cogently articulating the organization's purpose.
Mission statements often include the following information:
- Aim(s) of the organization
- The organization's primary stakeholders: clients/customers, shareholders, congregation, etc.
- How the organization provides value to these stakeholders, for example, by offering specific types of products and/or services
- A declaration of an organization's sole core purpose.
Always remember that a mission statement answers the question, "Why do we exist? "
Some commercial mission statements may get straight to the point and consists of only three essential components:
- Key market: Who is your target client/customer? ( generalize if needed)
- Contribution: What product or service do you provide to that client?
- Distinction: What makes your product or service unique, so that the client would choose you?
Examples of mission statements that clearly include the three essential components are:
McDonalds - "To provide the fast food customer food prepared in the same high-quality manner worldwide that is tasty, reasonably-priced & delivered consistently in a low-key décor and friendly atmosphere. "
- Key Market: The fast food customer worldwide.
- Contribution: Tasty and reasonably-priced food prepared in a high-quality manner.
- Distinction: Delivered consistently (worldwide) in a low-key décor and friendly atmosphere.
Courtyard by Marriott - "To provide economy and quality minded travelers with a premier, moderate priced lodging facility which is consistently perceived as clean, comfortable, well-maintained, and attractive, staffed by friendly, attentive and efficient people"
- Key Market: economy and quality minded travelers
- Contribution: moderate priced lodging
- Distinction: consistently perceived as clean, comfortable, well-maintained, and attractive, staffed by friendly, attentive, and efficient people.
A well-crafted mission statement is useful as a means of resolving trade offs between different business stakeholders. Stakeholders include:
- Managers and executives;
- Non-management employees;
- Shareholders;
- Board of directors;
- Customers;
- Suppliers;
- Distributors;
- Creditors/bankers;
- Governments (local, state, federal, etc.);
- Labor unions, competitors, NGOs; and
- The community or general public.
By definition, stakeholders affect or are affected by the organization's decisions and activities.
Making Mission Statements Come True
Just writing a mission and vision statement isn't enough to really achieve what you are looking for. Once you have created them, you need to put them into practice and spread the word. By spreading the word, you help teach others about what you stand for and are committed to achieving.
Some ways that you can put your mission and vision statement into practice are:
- Commit them to memory and encourage your team to do the same; sharing them whenever possible with you community.
- Display them on your office wall or in promotional materials for all to see.
- Use them as the basis of your business planning, and consider them whenever making important decisions.
- Be proud of your mission and vision statements and all that you, what your company stand for, and remember don't just preach them, practice them.