Formulating a Company's Mission Statement

A Mission Statement defines the purpose of a business and what it hopes to accomplish.  Mission Statement lucidly states the role of the company and helps keep the management on track.

• First develop a Vision Statement.  A vision statement is created what the management wants to the company to be in the future.
• Think of the future.  An “Action Plan” mission statement is one that provides direction to the company.  A Mission statement gets revised as the environment and/or the organization changes.  But a powerful and effective mission statement stands the test of time.
• A good mission statement elicits an emotional response.  The mission statement should be a powerful motivational tool for the employees.
• Mission statement focuses on what is special about the company.  It should exemplify what makes the business stand out.
• The goals should be tangible and measurable.  When the goals are made achievable, employees are motivated.  If the goals are too unrealistic or far-fetched, employees get discouraged.

Successful missions are measurable, definable and actionable.  They have an emotional appeal that everyone know and can act upon.

A mission statement is also influenced by

• company's history and traditions,
• management preferences
• specific and distinctive core competencies of the company,
• company resources
• competitive strengths and weaknesses.

A company's mission statement needs to be revised if it is no longer appropriate or lost its significance or relvance.