Company Mission Statement
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What is a Mission Statement?
A mission statement defines what line of business a company is in, and why it exists or what purpose it serves. Every company should have a precise statement of purpose that gets people excited about what the company does and motivates them to become part of the organization. A mission statement should also define the company’s corporate strategy and is generally a couple of sentences in length.
Attributes of a Mission Statement
- Mission statements summarize an organization’s primary goals, purpose and values by answering the question, “Why does this organization exist?”
- Without a mission statement, potential customers cannot differentiate you from your competitors.
- Mission statements can be inspiring, although not all are.
How to create a Mission Statement?
While it may be difficult to narrow down the focus of your company in a single statement, here are some tips to help you write a good mission statement.
- First, outline what your company does. This may be good you produce or a service you provide to your customers—whatever makes your business run.
- Next, describe the way in which your company does what it does. Instead of being technical—that’s not the point here—think of what values go into the core of your business. Maybe you value quality, customer service, or being sustainable. Alternatively, you may foster creativity and innovation in your business. These are key points to outline in your mission statement.
- Finally, include why you do what you do in your mission statement. This is key. It helps you stand out as a business, highlighting what sets you apart from the others in your industry. Remember to keep the mission statement short and to the point.
After you’ve drafted it, remember to look it over, edit it, and have someone else give it a once over. After you’ve approved it, you’ll need to find a way to incorporate it wherever you can. In addition, be mindful to periodically review your mission statement. Although it’s never ideal to constantly pivot your image and change your mission statement, your company may outgrow or shift directions resulting in the need for a new statement.
Why do you need a Mission Statement?
The combination of a mission statement, vision, and values tells a full story about Microsoft’s businesses and points out the things that matter to the company. Being able to build an influential statement is the first step to business success because all strategies are developed and executed with a solid mission as the foundation. The statement guides the management team in implementing strategies that help reinforce the company’s identity and achieve its goals.
It is important for:
- Motivating employees
- Inspiring customers
- Strategic planning
- Setting values
- Understanding why a business exists