Businesses create a mission statement to provide an understanding of what their purpose is; why they are in business. What type of activities they intend to do, what personal traits and values they believe in, and for whom (Rosenstand, 2013). The mission statement provides a business with the direction they are headed in helping to keep them from distractions that could interfere with the purpose of their business. Without this statement obstacles and distractions could lead them to stray from their specific purpose into something not within their core competencies, which can lead to failure (Idealist.org, 2013).
Businesses benefit from their mission statement both internally and publicly. Internally all shareholders and employees from executive leadership to the man sweeping the floors need to understand what the company’s primary purpose is and what it is not, along with how they want the world to see them. This knowledge allows employees to become engaged together as a team, focused in the right to help the company succeed both today and in the future. The mission statement also provides measureable objectives to determine how the company is performing.
Mission statements inform the public of what you can expect from a company and who their intended customer is. It informs them of the company’s business philosophy; the companies’ values, beliefs, and guiding principles (Burney, 2013).
I have read mission statements of the company I work for along with several of the departments within the company. Prior to returning to school I would guess that if it a mission statement was printed on a brochure I read it. I can remember reading Toyota’s mission statement on a brochure during the long process of purchasing a car. It was located on a brochure I picked up and looked at to stay busy when the salesperson stepped away. Here at CTU I have had a few assignments in which mission statements were required reading. I believe that a company should be expected to live...