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A mission statement is a formal, short, written statement of the purpose of a company or organization. The mission statement should guide the actions of the organization, spell out its overall goal, provide a sense of direction, and guide decision-making. It provides "the framework or context within which the company's strategies are formulated."[1] Historically it is associated with Christian religious groups; indeed, for many years, a missionary was assumed to be a person on a specifically religious mission. The word "mission" dates from 1598, originally of Jesuits sending ("missio", Latin for "act of sending") members abroad[1]. Mission statements often contain the following According to Hill, the mission statement consists of 1. a statement containing the reason for using your product 2. a statement of some desired future state (vision) 3. a statement of the key values the organization is committed to 4. a statement of major goals The mission statement can be used to resolve differences between business stakeholders. Stakeholders include employees including managers and executives, stockholders, board of directors, customers, suppliers, distributors, creditors, governments (local, state, federal, etc.), unions, competitors, NGO's, and the general public. Stakeholders affect, and are affected by, the organization's strategies.
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