We always see the “Mission Statement” of a company. But what actually is and how to create one that will really make an impact? Believe it or not, well prepared mission statement is a nice tool for well-run businesses.
It is basically the “why” of a business strategy.
Mission statement is defining the goals of the company and trying to do it in three major ways:
- Defines how the company is aiming to help its clients
- Defines the company’s culture among its employees and;
- Defines what the company is for its owners and shareholders
Few of the best mission statements that have been ever created are those that extend into 4th or 5th dimension or what the business does for the community it is erected in and the world as a whole.
The Significance of Mission Statement
Creating the first mission statement of your company, writing a new one or revising an old one is a chance for defining the ethics, norms, culture and goals for decision-making. Daily routine of a business will get in the way at times and having a quick refresher with mission statement could help an individual to step back and be reminded of the most important aspect of a company: it is none other than its purpose.