The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. It provides "the framework or context within which the company's strategies are formulated." It's like a goal for what the company wants to do for the world.
According to Bart, the commercial mission statement consists of three essential components:
- Key market: Who is your target client or 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?
- Hill, Charles; Jones, Gareth (2008). Strategic Management: An Integrated Approach (8th Revised edition). Mason, OH: South-Western Educational Publishing. p. 11. ISBN 978-0-618-89469-7.
- Bart, Christopher (July 1997). "Industrial Firms and the Power of Mission". Industrial Marketing Management 26 (4): 371-383. doi:10.1016/S0019-8501(96)00146-0.