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
- Consider what the company currently possesses by answering the following:
- Environment
- Consider the conditions in which company operates including:
- physical (e.g., facilities), equipment, political regulatory, competitive, economic, technological, others
- Consider the conditions in which company operates including:
