What is a Mission Statement and why is it important?

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What is a Mission Statement?

A mission statement is a short statement used by companies to explain the core aspects of their business, purpose, products, services, or any other impact it plans to make (for example, to raise awareness of an issue).

Why should a business have a Mission Statement?

Every business needs to have a clear mission statement. It outlines the company’s goals. Target audience, and the purpose of its being. The mission statement should be concise and must be engaging and inspiring for not just the employees working for your company but also for the customers.

The statement should highlight your company’s respect for its consumers, its employees and must also acknowledge any other higher goal or purpose that the company serves (maybe even something outside your product offering).

FAQs

Q: How to write a Mission statement?

A: An effective Mission statement must have the industry that the business is serving, what value it adds to the customer, and convey the impact the employees have by working for the company. A Mission statement should also be kept fairly concise and easily understandable.

Q: Can a company change its Mission statement?

A: If the company feels that the current Mission statement no longer resembles the idea the company stands for, it can go ahead and change it.

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