Mission Statements and Business Objectives

The mission of a business is the overriding goal of the business and the reason for its existence. A mission provides a strategic perspective for the business and a vision for the future.

An effective mission statement:

• Differentiates the business from its competitors
• Defines the markets or business in which the business wants to operate
• Is relevant to all major stakeholders - not just shareholders and managers
• Excites, inspires, motivates & guides – particularly important for employees

Mission statements are often criticised because they are:

• Not always supported by actions of the business
• Often too vague and general or merely statements of the obvious
• Viewed as a public relations exercise
• Sometimes regarded cynically by employees
• Not supported wholeheartedly by senior management