Mission statement
Summary of an organization's values, philosophies or goals / From Wikipedia, the free encyclopedia
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A mission statement is a short statement of why an organization exists, what its overall goal is, the goal of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation.[1][2] 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".[1][3] 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.[4]
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A mission is not simply a description of an organization by an external party, but an expression, made by an organization's leaders, of their desires and intent for the organization. A mission statement aims to communicate the organisation's purpose and direction to its employees, customers, vendors, and other stakeholders. A mission statement also creates a sense of identity for employees. Organizations normally do not change their mission statements over time, since they define their continuous, ongoing purpose and focus.[5]
According to Chris Bart, professor of strategy and governance at McMaster University,[6] a commercial mission statement consists of three essential components:[7][failed verification]
- key market: the target audience
- contribution: the product or service
- distinction: what makes the product unique or why the audience should buy it over another
Bart estimates that in practice, only about ten percent of mission statements say something meaningful.[6] For this reason, such statements are widely regarded with contempt.[7]