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A mission statement is a formal short written statement of the purpose of a company or organization. The mission statement should guide the actions of the organization, spell out its overall goal, provide a sense of direction, and guide decision-making. It provides "the framework or context within which the company´s strategies are formulated."Hill, Ch., Jones, G. Strategic Management. Houghton Mifflin Company: New York, 2008. ISBN: 978-0-618-89469-7, page 11
Historically it is associated with Christian religious groups; indeed, for many years a missionary was assumed to be a person on a specifically religious mission. The word "mission" dates from 1598, originally of Jesuits sending ("missio", Latin for "act of sending") members abroad.
Content
Mission statements often contain the following:
*Purpose and aim of the organization
*The organizations primary stakeholders: clients, stockholders, congregation, etc.
*Responsibilities of the organization toward these stakeholders
*Products and services offered
According to Hill, the mission statement consists of:
1. a statement containing the reason for the existence of the organization (mission)
2. a statement of some desired future state (vision)
3. a statement of the key values the organization is committed to
4. a statement of major goals
The mission statement can be used to resolve differences between business stakeholders. Stakeholders include: employees including managers and executives, stockholders, board of directors, customers, suppliers, distributors, creditors, governments (local, state, federal, etc.), unions, competitors, NGOs, and the general public. Stakeholders affect and are affected by the organizations strategies.
According to Vern McGinis, a mission should:
:Define what the company is
:Define what the company aspires to be
:Limited to exclude some ventures
:Broad enough to allow for creative growth
:Distinguish the compa read more at » http://en.wikipedia.org/wiki/Mission+statement
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