Writing a Company Mission Statement Entrepreneurship II

What is a Mission Statement A mission statement is a declaration of what a business aspires to be. The statement is the business’s reason for being, a proclamation of why it exists, a clarification of who it serves, and an expression of what it hopes to achieve in the future. A carefully crafted mission statement accurately describes the business and inspires the people who contribute to its success.

What is the Purpose of a Mission Statement Every business needs a purpose that delineates what it is and a vision that describes what it wants to be. This purpose and vision come together in the mission statement. A mission statement then becomes the starting point for the development of business goals, and goals are the basis for setting measurable project objectives and corresponding metrics. Because it all starts with a mission, this is a critical part of creating your business

The Writing Process Just as important as the mission statement is the process of writing the statement. This process helps a new or established business clarify questions such as: What business are we really in? What type of business do we want to be? What is our target market? What inspires us? The writing process and the statement both provide clarity of purpose and motivation for business success.

Mission Statement Characteristics Visionary – offers a vision of what a business aspires to be Contains wording such as, “to be the best,” the “highest quality,” and “in the world” Broad – a company cannot be all things to all people, but a mission statement should not limit a company’s area of service or expertise too narrowly. Realistic – should contain realism so that it is both practical and workable Motivational – should be written in such a way that it inspires commitment among employees, customers, partners, and funding agencies Short and Concise – short enough that an employee can easily remember it and readily repeat it Easily Understood – should use plain language that is convincing and easy to understand.

Example “Facebook’s mission is to give people the power to share and make the world more open and connected.”

Example “To refresh the world; To inspire moments of optimism and happiness; To create value and make a difference”

“One Team; One Plan; One Goal; One Ford” Example “One Team; One Plan; One Goal; One Ford”

Example Our Mission “To continually provide our members with quality goods and services at the lowest possible prices.” “In order to achieve our mission we will conduct our business with the following Code of Ethics in mind:” Obey the law Take care of our members Take care of our employees Respect our suppliers Reward our Shareholders

“To bring inspiration and innovation to every athlete in the world.” Example “To bring inspiration and innovation to every athlete in the world.” “If you have a body, you are an athlete.”

Writing the Mission Statement Start with the vision part of the statement Brainstorm to clarify what you want the business to be: List 5 to 10 words or phrases that describe your business. Highlight the three most important. List three to five words or phrases that describe the company’s ideal image from a customer’s point of view List three to five words or phrases that describe the company’s ideal image from a management and employee point-of-view

Writing the Mission Statement Now temper this vision with a focus on the purpose of the business: List the market opportunities and/or customer needs that the company intends to address Who are your customers? List the company’s primary and secondary target markets With your customers in mind, list each service or product your business will provide. List three to five measures of your business’s success