Mission statement is a short or long statement written by stakeholders to make clear the reason and purpose of organization. Some organization thinks that developing mission statement is waste of time and money but unfortunately this is not the case.
Today many organizations and companies are doing well in the market without having formal mission statement but as time passes there would be certain questions in organization board of directors and other stakeholders mind regarding the future goals and objectives.
After determining the organization goals and objectives there must be some way to achieve it. The strategy play vital role in achieving the organizational goals and objectives extracted from mission statement.
Mission statement gives answers of several important questions to organization stakeholders such as:
Who we are?
What is the reason of our existence?
What will be the future?
Clearly stated mission statement resolve internal conflicts in opinion of stakeholders, gives clear future direction and assist in decision making.
Components of Mission Statement
Expert believe that incorporating below mentioned components make mission statement more meaningful and clear for internal and external stakeholders.
Customer – Who are our customers?
Market – In which market we are offering our product and services
Product and services – what are the products and services?
Technology – Define the technology which the firm using for running their business.
Concern of survival, growth and profitability – Is the firm committed to growth and financial soundness?
Philosophy – The basic, belief, values, aspiration and ethical priorities of the firm.
Self concept – The firm distinctive competence or major competitive advantage.
Concern of public image = Is the firm responsive to social, community and environmental concerns?
Concern of employees – Are employees are valuable asset of the firm?
Examples of Mission Statement
Dell Mission Statement
Dell’s mission is to be the most successful Computer Company in the world at delivering the best customer experience in markets we serve. In doing so, Dell will meet customer expectations of:
• Highest quality
• Leading technology
• Competitive pricing
• Individual and company accountability
• Best-in-class service and support
• Flexible customization capability
• Superior corporate citizenship
• Financial stability
Wikipedia Mission Statement
The mission of the Wikipedia Foundation is to empower and engage people around the world to collect and develop educational content under a free license or in the public domain, and to disseminate it effectively and globally. …the Foundation provides the essential infrastructure and an organizational framework for the support and development of multilingual wiki projects and other endeavors which serve this mission. The Foundation will make and keep useful information from its projects available on the Internet free of charge, in perpetuity.”