Mission Statement

mission is a short statement of an organization‘s purpose, identifying the scope of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation. It may include a short statement of such fundamental matters as the organization’s values or philosophies, a business’s main competitive advantages, or a desired future state—the “vision”.

A mission is not simply a description of an organization by an external party, but an expression, made by its leaders, of their desires and intent for the organization. The purpose of a mission statement is to focus and direct the organization itself. It communicates primarily to the people who make up the organization—its members or employees—giving them a shared understanding of the organization’s intended direction. Organizations normally do not change their mission statements over time, since they define their continuous, ongoing purpose and focus.

According to Chris Bart, professor of strategy and governance at McMaster Universitya commercial mission statement consists of three essential components:

  1. Key market: Who is your target client or customer (generalize if needed)?
  2. Contribution: What product or service do you provide to that client?
  3. Distinction: What makes your product or service unique, so that the client would choose you?

The sole purpose of a mission statement is to serve as a company’s goal/agenda, it outlines clearly what the goal of the company is. Some generic examples of mission statements would be, “To provide the best service possible within the banking sector for our customers.” or “To provide the best experience for all of our customers.” The reason why businesses make use of mission statements is to make it clear what they look to achieve as an organization, not only to themselves and their employees but to the customers and other people who are a part of the business, such as shareholders. As a company evolves, so will their mission statement, this is to make sure that the company remains on track and to ensure that the mission statement does not lose its touch and become boring or stale.