Organization Mission Statement

For larger firms this may already exist in a public way (e.g., found in annual report, found on corporate website) but for many others this may need to be formulated.
The organization mission statement consists of a short, finely-honed paragraph that considers the following issues (Length: 1 paragraph):

1. Identifies a stable (i.e., not dramatically changing every year), long-run vision of the organization that can answer such questions as:

• Why is the company in business?
• What markets do we serve and why do we serve these markets?
• In general terms, what are the main benefits we offer our customers?
  • e.g., a low price software provider may state they offer “practical and highly affordable business solutions”
• What does this company want to be known for?
• What is the company out to prove to the industry, customers, partners, employees, etc.?
• What is the general corporate philosophy for doing business?
• What products/services does the company offer?

2. In developing the vision presented in the mission statement consider:

• Company History
  • How company started and major events of the company, products, markets served, etc.
• Resources and Competencies
  • Consider what the company currently possesses by answering the following:
    • What are we good at?
    • What is special about us compared to current and future competitors (in general terms do not need to mention names)?
    • What do we do that gives us a competitive advantage?
  • Consider the questions above in terms of:
    • people, products, financial position, technical and research capabilities, partnership/supply chain relations, others
• Environment
  • Consider the conditions in which company operates including:
    • physical (e.g., facilities), equipment, political regulatory, competitive, economic, technological, others

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