Its name or articles of incorporation do not define a business. The business mission defines it.
Its name or articles of
incorporation do not define a business. The business mission defines it. Only a
clear definition of mission and purpose of the organization makes possible
clear and realistic business objectives.
Mission statements can vary in
length, content, format, and specificity. Most practitioners and academicians
of strategic management feel that an effective statement exhibits nine
characteristics or components. Because a mission statement is often the most
visible and public part of the strategic-management process, it is important
that it includes all of these essential components:
1. Customers: Who are the firm’s customers?
2. Product or services: What are the firm’s major
products or services?
3. Markets: Geographically, where does the firm
4. Technology: Is the firm technologically current?
5. Concern for survival, growth and
profitability: Is the firm committed to growth and financial soundness?
6. Philosophy: What are the basic
beliefs, values, aspirations, and ethical priorities of the firm?
7. Self-concept: What is the firm’s
distinctive competence or major competitive advantage?
8. Concern for public: Is the firm
responsive to social, community, and environmental concerns?
9. Concern for employees: Are employees a valuable
asset of the firm?
Pepsi Co’s mission is to increase
the value of our shareholders’ investment. We do this through sales growth,
cost controls, and wise investment resource. We believe our commercial success
depends upon offering quality and value to our consumers and customers;
providing products that are safe, wholesome, economically efficient, and
environ-mentally sound; and providing a fair return to our inventors while
ad-hering to the highest standards of integrity.
Dell Computer’s mission is to be
the most successful computer company in the world at delivering the best
customer experience in markets we serve. In doing so, Dell will meet customer
expectations of highest quality; leading technology; competitive pricing;
individual and company accountability; best-in-class service and support;
flexible cus-tomization capability; superior corporate citizenship; financial
Establishing an organizational
mission is an important part of management’s job, because the existence of a
formally expressed organi-zational mission generally makes it more likely that
the organizational will succeed. Having an established and documented
organizational mission accomplishes several important things. A mission
statement once established serves an organization for many years. But a mission
may become unclear as the organization grows and adds new product, markets and
technologies to its activities. So a mission statement should be broad enough
to accommodate any new changes to avoid reformula-tion.
Tags : Strategic Management - Concept Of Corporate Strategy
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