Definition: A sentence describing a company's function, markets and competitive
advantages; a short written statement of your business goals and
philosophies
A mission statement defines what an organization is, why it
exists, its reason for being. At a minimum, your mission statement
should define who your primary customers are, identify the products
and services you produce, and describe the geographical location in
which you operate.
If you don't have a mission statement, create one by writing
down in one sentence what the purpose of your business is. Ask two
or three of the key people in your company to do the same thing.
Then discuss the statements and come up with one sentence everyone
agrees with. Once you have finalized your mission statement,
communicate it to everyone in the company.
It's more important to communicate the mission statement to
employees than to customers. Your mission statement doesn't have to
be clever or catchy--just accurate.
If you already have a mission statement, you will need to
periodically review and possibly revise it to make sure it
accurately reflects your goals as your company and the business and
economic climates evolve. To do this, simply ask yourself if the
statement still correctly describes what you're doing.
If your review results in a revision of the statement, be sure
everyone in the company is aware of the change. Make a big deal out
of it. After all, a change in your mission probably means your
company is growing-and that's a big deal.
Once you have designed a niche for your business, you're ready
to create a mission statement. A key tool that can be as important
as your business plan, a mission statement captures, in a few
succinct sentences, the essence of your business's goals and the
philosophies underlying them. Equally important, the mission
statement signals what your business is all about to your
customers, employees, suppliers and the community.
The mission statement reflects every facet of your business: the
range and nature of the products you offer, pricing, quality,
service, marketplace position, growth potential, use of technology,
and your relationships with your customers, employees, suppliers,
competitors and the community.