What is a Mission Statement? The Power Of Purpose -Thehrboy

A mission statement defines the line of business a company is in, why it exists, and the purpose it serves.

Every company requires a precise purpose statement that gets people excited about the company and motivates them to join the organization.

A mission statement defines the corporate strategy and is a couple of sentences long.

Once a company grows, its goals or objectives may be reached, which will change. So as per requirements, the mission statement needs to change and reflect the business culture as previous goals are met.

In This Article

Why Is A Mission Statement Important?

When there is a combination of vision, mission statement, and values, a full story is revealed and points to the things that matter to a company.

For business success, the first step is to develop an influential statement because strategies can only be developed if there is a solid mission as a foundation.

The statement is of help to the management team in implementing strategies that enforce the identity of the company and achieve its objectives. It is important for

Motivating employees
Setting values
Strategic planning
Inspiring customers
Figuring out the reasons why a business exists

An Example Of A Mission Statement

An example of a mission statement is that of Microsoft, which is an American multinational company that develops, licenses, and sells technological products, including computers and personal products.

It is one of the world’s largest corporations and exists alongside companies like Apple and Amazon.

Microsoft’sMicrosoft’s mission statement is comprehensive and inspiring, as it is all about inspiring people.

This kind of statement excites people, and people can rally behind it. It provides insights into the strategy of Microsoft, which is reaching out to the entire world and influencing individuals and the organization.

How Does The Mission Statement Work?

A mission statement achieves a couple of objectives: it allows an employee to remain focused on the tasks at hand and fosters innovative ways to move forward towards increasing their productivity and keeping a watch on the company’s goals.

A company’s mission statement defines its values, culture, agenda, and fundamental goals.

The statement showcases what a company does, how it feels, and the reasons for doing it. In addition, it showcases how it applies to the company’s stakeholders, including employees, shareholders, and the community. The entities can use this statement to align with the company’s goals.

It is not an uncommon task for companies to spend millions of dollars to refine their mission statements.

In some cases, mission statements go on to become household phrases. They are not limited to large or small businesses, and individuals can take their time developing a personal mission statement.

Displaying a mission statement

The moment a mission statement is ready, it is up to the company to make it publicly known.

A mission statement only holds value when shared with existing and potential customers and other relevant stakeholders.

Since a company’s mission statement is relatively short, it can be easily embedded in the marketing material.

A mission statement must be found on the company website, and it should be used in marketing documents.

On the other hand, a mission statement is a key elevator pitch that the key members of your company should know.

Even without mentioning what a company does, it is one of the most captivating ways to capture a user’s attention.

The Benefits Of A Mission Statement

Companies can benefit from a mission statement. Firstly, it outlines the goals and position of a company in the industry for its competitors, customers, and other stakeholders.

It enables an organization to focus and stay on track to make the right decisions in the future.

Even the mission statement clarifies the purpose of a company. If there is a mission statement, it ensures that the company’s investors or customers are fully assured; they are committed to achieving the goals and maintaining the company’s values.

This turns out to be a handy guide for motivating the employees and keeping them in line with your company’s values.

A mission statement adds value to an organization. From an external viewpoint, a mission statement demonstrates that the company has considered the big picture and the major goals it is looking to accomplish.

Important Parts Of A Mission Statement

A mission statement mentions what your brand does, how it does it, and how it goes on to achieve it. A mission statement may sum up the following things in depth:

Brand purpose: what does your brand do in terms of product or service, and what is their aim to provide for whom and why?
Brand values: it’s important to know what does your company stand for? For example, are you environmentally conscious because it provides a sustainable solution to a problem? Values are the things that make a company unique.
Brand goals: what are the things that the company achieves for your customers? What are the reasons why they should be purchasing from you rather than your competitors?

With all these three components, you can formulate a mission that is unique to your brand and resonates with your customers.

How to Write a Mission Statement?

Below are some of the steps that you need to remember when you are writing a mission statement.

Explains in detail the company’s products or services.

You would want your company’s prospects to truly understand what the company does.

This means thoroughly explaining your offerings, and the explanation needs to cover the following questions:

Are you selling a service or a product?
What is the reason for the customer to buy it?
How does an offering solve a customer’s problem?

The answers must be recorded and focus on how the product or service incorporates value for the buyer persona or target market.

Identification of the core values of your company

At this stage, you may need to think bigger. Simply because you are motivated by a set of core values does not imply that you will create a product or service.

Core values are deeply integrated principles that guide the actions of a company.
They turn out to be principles that employees and customers respect.

When you identify the core values at the organizational or personal level, you will have an appealing set to add to your mission statement.

Figure out how the offerings of your company align with its values.

Understand how your company’s offerings serve its core values, as you need to develop a connection between them that connects the public.

An example is that one of your core values is innovation, and you would like to frame your product or service as pushing boundaries and how it helps customers innovate their business practices.

What happens is that you take the benefit of the offering and expand it to serve a bigger purpose.

The statements can be condensed into one.

A mission statement may be short, like a simple sentence, or as long as a paragraph, though it is meant to be a summary of your company’s purpose.

You need to understand the following parameters:

What the company offers
Who are you selling to?
Why are the core values attached to it?

When you successfully convey the message, it is time to refine and perfect your statement.

Make sure it is concise, clear, and free of unnecessary stuff.

In the overall context, your mission statement is a marketing asset that is meant to be clear, concise, and free from any fluff.

It should clearly outline the purpose of the company’s offering and showcase the common goals that the company is looking to achieve.

You should also ensure that the other team members or advisors go through the mission statement and make adjustments based on the recommendations of the organization.

Comparison of mission and vision statements

A mission statement outlines what a company is looking to achieve, whom they are looking to support, and the manner in which they intend to do so.

When it is a vision statement, it describes what the company wants for a community or the world as a result of its services.

Hence, the vision statement of a company is a road map for the mission statement of the company.

A mission statement is a quote that describes what a company or brand intends to do. They inform the public about their offerings, whom they are designed for, and why they are created.

If you compare the vision statement, it is conceptual and reveals how a brand is likely to become in the eyes of the customer and the value it would provide in terms of Loyalty.

Conclusion

Mission statements are vital from a company perspective for a variety of reasons. There is a good reason for it, as the values of an organization are explained in the mission statement.

Being a customer who looks to patronize a business that has values that we believe in, Loyalty is something that does not happen overnight.

The formulation of brand loyalty in the form of mission or vision statements takes time.