Introduction to Strategic Management

Introduction to Strategic Management

Creation of a mission statement is an important process to a business whether small or big. It is important since it acts as a powerful step geared to the success of the business. A mission statement is a brief statement that describes the purpose of the company. The purpose of the statement is to act as a reminder to the employees and to make the customers aware of the sole purpose of the company being in business. Some mission statements are used as company slogans and/or as an advertising slogan. A good mission statement should be short, precise and as thorough as possible in fulfilling its purpose (MyStrategicPlan, 2011).

A mission statement should be developed at the beginning of the business, though other people prefer incorporating staff ideas. A company should develop a mission statement for a number of reasons. It helps in reassuring one of the purposes of the work one is doing especially in difficult days. It can also act as a reminder for employees on the purpose of the work they are doing. It also helps build customers’ and/or investors’ confidence in the business. A mission statement is developed by incorporating several elements.

The mission statement should most importantly include the plan of the business. It should also include the dream of the business and how the company or business plans to accomplish it. The values and purpose of the business should also be included in the statement. The company’s responsibility to its customers should also be incorporated in the mission statement as well as the main objectives that shall support the business in the achievement of its dreams, goals or mission. A mission statement is a delicate part of an organization since if it ineffectively implemented, it can become the most despised management tool (Talbot, 2003).

References:

MyStrategicPlan. (2011). Developing Your Mission Statement. New York, NY: MyStrategicPlan.

Talbot, M. (2003). Make your mission statement work: identify your organisation’s values and live them every day. Mountain View, CA: How to Books Ltd.