The mission statement of the organization is the principal and most responsible aspect of strategic planning. It represents the central purpose of the company, being an apparent basis for its existence. Without mission statements, management in the organization could be performed only according to the leaders’ values. Mission statements are crucial to a successful marketing business as they determine the organization’s status and implement direction and guidance for setting goals and strategies at various administrative levels.In only 3 hours we’ll deliver a custom Mission Statement Formulation and Its Benefits essay written 100% from scratch Get help
The mission’s central point is the response to the question of what the organization’s primary purpose is. The object is the company’s success, profit, actions, and resources (Alegre et al., 2018). The business goals are defined after creating the mission; the latter makes it possible to establish what objectives must be introduced for the enterprise’s activities to correspond to its directions (Alegre et al., 2018). The organization’s statement should contain information about its product or service, the customers, and the company’s fundamental values.
The mission statement usually intends to address a number of objectives. First of all, it reveals the company’s purpose and helps avoid losing guidelines or leadership principles (Alegre et al., 2018). Moreover, the mission creates a standard for assessing all actions performed in the organization (Alegre et al., 2018). It contributes to creating a corporate spirit, serving as motivation for employees and stimulating their activity. According to Alegre et al. (2018), the mission requires managers to systematically engage in a comprehensive analysis of the organization’s strengths, weaknesses, competitors, opportunities, and threats, increasing strategic decisions’ validity. In the case of big or geographically dispersed companies, the statement provides the integration of separate organizational units, prompting effective interactions between managers and subordinates at different levels (Alegre et al., 2018). Third, a valid mission benefits a firm’s rational and positive image within the market, stakeholders, and investors (Alegre et al., 2018). The mission statement sets strategic goals and vectors of business development.
Formulation of Mission Statements
The mission creation becomes the first step in reducing the company’s risk affecting the owners, management, and employees. According to Alegre et al. (2018), this strategic management tool distinguishes the company from its market competitors and allows customers to recognize its products. Alegre et al. (2018) claim that it is necessary to consider the firm’s history and the organization’s objectives. The firm’s philosophy, manifested in the values and beliefs accepted in the business, is also one of the most critical aspects of the mission’s formation (Alegre et al., 2018). Moreover, managers should think about the company’s scope, reflecting on what product is offered to the customers and in which market the organization implements its goods or services (Alegre et al., 2018). Most importantly, it is necessary to take into account the distinctive features that the organization possesses. Consequently, the mission becomes a formulated statement that reflects the company’s central principles.
The most prominent example is the most significant technology companies’ mission statements, such as Apple and Microsoft. Apple’s mission is “to bring the best personal computing products and support to students, educators, designers, scientists, engineers, businesspersons and consumers in over 140 countries around the world” (“Product feedback,” n.d.). Microsoft’s statement is “to empower every person and every organization on the planet to achieve more” (“About Microsoft,” n.d.). The main goal of the business of the two companies is to attract customers. However, there are differences in interpretation; Apple is focused on the best quality products for different population groups, whereas Microsoft’s agenda is empowering, enabling the opportunity to develop the business mutually with customers.
To conclude, mission statements are essential since they serve as the general goal; the company’s purpose should consider all stakeholders’ interests. A well-defined mission clarifies organization features, its performed policies, and differences from other market competitors. The most stable and specific influence on the organization’s mission is provided by the attention of owners, employees, and customers. The mission defines the organization’s existence, indicating the primary efforts and priorities of the company.
About Microsoft (n.d.). Microsoft. Web.Academic experts
available We will write a custom Company Missions essay specifically for you for only $16.00 $11/page Learn more
Alegre, I., Berbegal-Mirabent, J., Guerrero, A., & Mas-Machuca, M. (2018). The real mission of the mission statement: A systematic review of the literature. Journal of Management and Organization, 24(4), 456-473. Web.
Product feedback (n.d.). Apple. Web.