Mission statement

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A mission statement is a statement of the purpose of a company, organization or person, its reason for existing.

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.[1]

According to Bart,[2] the commercial mission statement consists of three essential components:

  1. Key market: Who is your target client or customer (generalize if needed)?
  2. Contribution: What product or service do you provide to that client?
  3. Distinction: What makes your product or service unique, so that the client would choose you?

See also[edit]

References[edit]

  1. ^ 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. 
  2. ^ 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. 

Further reading[edit]

  • Christopher K. Bart (1997) Sex, Lies and Mission Statements Business Horizons, pp. 9–18, November–December 1997.
  • Haschak, Paul G. (1998). Corporate statements: the official missions, goals, principles and philosophies of over 900 companies. Jefferson, N.C: McFarland. ISBN 0-7864-0342-X. 
  • Hughes K. et al. (2005). IT Fundamentals. Tertiary Press. Croydon, Victoria. ISBN 0-86458-488-1.
  • Patricia Jones & Larry Kahaner (1995) Say It and Live It: The 50 corporate mission statements that hit the mark, Currency Doubleday: New York ISBN 978-0-385-47630-0 .
  • McGinnis, V. (1981). The Mission Statement: A Key Step in Strategic Planning. Business, 31(6), 41.

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