What are the characteristics of a good mission statement?
A Mission Statement is a statement of the organisation’s purpose. It identifies what the organization aspires to be and describes the role that it plays within the environment in which it exists.
Mission statements may specify some or all of the following:
– target customers and markets
– principle products or services
– geographical domain
– core technologies
– concerns for survival
– plans for growth and profitability
– basic philosophy and
– desired public image.
A firm may have multiple mission statements, one for the overall firm and one for each foreign subsidiary.
The characteristics of a desirable mission statement include:
– Concise enough to remember it without difficulty
– Market oriented
– Fit-market environment
– Distinctive competencies