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Mission Statement Analysis Free Essay Example
Strategic management (6112)
Addis Ababa University
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Mission Statement Analysis
Categories: Mission Mission Statement
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Analysis, Pages 80 (19854 words) Views 525
A mission statement is a statement of the purpose of a company, organization or person, its reason for existing. The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. It provides “the framework or context within which the company’s strategies are formulated.” It’s like a goal for what the company wants to do for the world. [1] Contents[edit]
Effective mission statements start by cogently articulating the organization’s purpose of existence.
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Mission statements often include the following information: Aim(s) of the organization
The organization’s primary stakeholders: clients/customers, shareholders, congregation, etc. How the organization provides value to these stakeholders, for example by offering specific types of products and/or services A declaration of an organization’s sole core purpose. A mission statement answers the question, “Why do we exist?” According to Bart,[2] the commercial mission statement consists of 3 essential components: 1. Key market — who is your target client/customer? (generalize if needed) 2.
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by friendly, attentive and efficient people”[citation needed] Key Market: economy and quality minded travelers.
Contribution: moderate priced lodging Distinction: consistently perceived as clean, comfortable, well-maintained, and attractive, staffed by friendly, attentive and efficient people The mission statement can be used to resolve trade-offs between different business stakeholders. Stakeholders include: managers & executives, non-management employees, shareholders, board of directors, customers, suppliers, distributors, creditors/bankers, governments (local, state, federal, etc.), labour unions, competitors, NGOs, and the community or general public. By definition, stakeholders affect or are affected by the organization’s decisions and activities. According to Vern McGinis[citation needed], a mission should: Define what the company is engl 3308
Limited to exclude some ventures Broad enough to allow for creative growth Distinguish the company from all others Serve as framework to evaluate current activities Stated clearly so that it is understood by all A mission statement is a key tool that can be as important as your business plan. It captures, in a few succinct
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sentences, the essence of your business’s goals and the philosophies underlying them. Equally important, the mission statement signals what your business is all about to your customers, employees, suppliers and the community. The mission statement reflects every facet of your business: the range and nature of the products you offer, pricing, quality, service, marketplace position, growth potential, use of technology, and your relationships with your customers, employees, suppliers, competitors and the community. “Mission statement help clarify what business you are in, your goals and your objectives,” says Rhonda Abrams, author of The Successful Business Plan: Secrets and Strategies. Your mission statement should reflect your business’ special niche.
However, studying other companies’ statements can fuel your creativity. One sample mission statement Abrams developed: “AAA Inc. is a spunky, imaginative food products and service company aimed at offering high- quality, moderately priced, occasionally unusual foods using only natural ingredients. We view ourselves as partners with our customers, our employees, our community and our environment. We aim to become a regionally recognized brand name, capitalizing on the
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enrich their lives and contribute to their success—now and in the future? What image of your business do you want to convey? Customers, suppliers, employees and the public will all have perceptions of your company. How will you create the desired picture? What is the nature of your products and services? What factors determine pricing and quality? Consider how these relate to the reasons for your business’s existence. How will all this change over time? What level of service do you provide? Most companies believe they offer “the best service available,” but do your customers agree? Don’t be vague; define what makes your service so extraordinary.
What roles do you and your employees play? Wise captains develop a leadership style that organizes, challenges and recognizes employees. What kind of relationships will you maintain with suppliers? Every business is in partnership with its suppliers. When you succeed, so do they. How do you differ from your competitors? Many entrepreneurs forget they are pursuing the same dollars as their competitors. What do you do better, cheaper or faster than other competitors? How can you use competitors’ weaknesses to your advantage? How will you use technology, capital, processes, products and services
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to reach your goals? A description of your strategy will keep your energies focused on your goals. What underlying philosophies or values guided your responses to the previous questions? Some businesses choose to list these separately. Writing them down clarifies the “why” behind your mission. Putting It All Together
Like anything with lasting value, crafting a mission statement requires time, thought and planning. However, the effort is well worth it. In fact, most start-up entrepreneurs discover that the process of crafting the mission statement is as beneficial as the final statement itself. Going through the process will help you solidify the reason for what you are doing and clarify the motivations behind your business. Here are some tips to make your mission statement the best it can be: Involve those connected to your business. Even if you are a sole proprietor, it helps to get at least one other person’s ideas for your mission statement. Other people can help you see strengths, weaknesses and voids you might miss. if you have no partners or investors to include, consider knowledgeable family members and close friends, employees or accountants. Be sure, however, to pick only positive, supportive people who truly want to see you
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the best bits and pieces, and fit them together. Use “radiant words.” Once you have the basic idea in writing, polish the language of your mission statement. “Every word counts,” says Abrams. The statement should create dynamic, visual images and inspire action. Use offbeat, colorful verbs and adjectives to spice up your statements.
Don’t hesitate to drop in words like “kaleidoscope,” “sizzle,” “cheer,” “outrageous” and “marvel” to add zest. If you want customers to boast about your goods and services, say so—along with the reasons why. Some businesses include a glossary that defines the terms used in the statement. Once your mission statement is complete, start spreading the word! You need to convey your mission statement to others inside and outside the business to tell everyone you know where you are going and why. Post it in your office, where you, employees and visitors can see it every day. Print it on company materials, such as brochures and your business plan or even on the back of your business cards.
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Answer 4 Questions to Get a Great Mission Statement comments, called-out Comment Now Follow Comments Following Comments Unfollow Comments Comment Now Follow Comments Following Comments Unfollow Comments Personal mission statements are a great New Year’s resolution. Equally important, and longer-lasting, is your company’s mission statement. First, let’s be clear. It’s not the same as your vision statement, which is a broad view of how your company is going to leave an impact on customers and the greater community. An effective mission statement must be a clear, concise declaration about your business strategy. Move up i.forbesimg t Move down
3 Tips for a Resolution You’ll Keep: Your Personal Mission Statement Patrick Hull Contributor Be Visionary. Think Big. Patrick Hull Contributor Serial Entrepreneurs Are More Successful Patrick Hull Contributor Qualities of Successful Entrepreneurs Patrick
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than entrepreneurs and have a different audience. As an entrepreneur, your company’s mission statement should be concise and specific so your customers understand your purpose and how you provide value to them. As a quick exercise, check out this list of Fortune 500 mission statements to see which ones answer the questions that we are talking about and which ones don’t. Here is an example of a mission statement from one of my companies, Bizilla: “Our mission is to help connect people who want to sell a business with people who want to buy a business. We provide business owners and brokers with flexible options for listing their business online. For buyers, we offer helpful tools such as our saved listings feature and customized email alerts to make finding the right business easier.” It’s clear and concise. The mission statement is focused on what the company does for its customers and keeps my employees focused on our objectives.
Your mission statement doesn’t have to look the same as everyone else’s. Figure out what’s important to you and your clients and go from there. Companies often list their vision and their mission statements on their sites. The difference between a mission statement and a vision
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statement is that a mission statement focuses on a company’s present state while a vision statement focuses on a company’s future. However, some companies tend to blend these statements. The following are some of the top technology-based company mission statements: Amazon: Amazon’s vision is to be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online. (They list this as their mission as a combination mission/vision on their site). Apple: Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and Internet offerings. Dell: Dell’s mission is to be the most successful computer company in the world at delivering the best customer experience in markets we serve.
Facebook: Facebook’s mission is to give people the power to share and make the world more open and connected. Google: Google’s mission is to organize the world‘s information and make it universally accessible and useful. Microsoft: Microsoft’s mission is to enable people and businesses throughout the world to realize their full
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structures, and to call the entire church and other people of good will to do the same.” from Catholic Charities USA “The ASPCA Animal Behavior Center is dedicated to promoting balanced, respectful and enriched relations between people and pets through graduate and post- graduate programs for aspiring animal behaviorists; continuing behavioral education for shelter personnel, trainers, veterinarians, and other animal professionals; and the provision of practical, humane advice on pet behavior for owners.” from the ASPCA “The mission of Mothers Against Drunk Driving is to stop drunk driving, support the victims of this violent crime and prevent underage drinking.” from MADD “The Children’s Center mission is to complement the service and education objectives of the university by:
-Providing education, care, and nurturing for the children of students, staff, faculty, and community members.
-Utilizing culturally and developmentally appropriate practices.
-Serving as a role model of child care excellence for the community at large.” from New Mexico Tech Children’s Center “The mission of the Science Museum of Long Island
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is to: -Stimulate and nurture children’s natural interest in science and help them to discover the power of science through the fun of science. -Provide science education through hands-on learning.
-Elevate the level of science literacy” from the Science Museum of Long Island “People for the Ethical Treatment of Animals (PETA) is the largest animal rights organization in the world, with more than 3 million members and supporters. PETA focuses its attention on the four areas in which the largest numbers of animals suffer the most intensely for the longest periods of time: on factory farms, in the clothing trade, in laboratories, and in the entertainment industry. We also work on a variety of other issues, including the cruel killing of beavers, birds, and other ‘pests’ as well as cruelty to domesticated animals. PETA works through public education, cruelty investigations, research, animal rescue, legislation, special events, celebrity involvement, and protest campaigns.” From PETA. Education
“The advancement of all good literature, arts, and sciences; the advancement and education of youth in all manner of good literature, arts, and sciences; and all other necessary provisions that may conduce to the education
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Pennsylvania’s land-grant university, we provide unparalleled access and public service to support the citizens of the Commonwealth. We engage in collaborative activities with industrial, educational, and agricultural partners here and abroad to generate, disseminate, integrate, and apply knowledge that is valuable to society.” From Pennsylvania State University. “University of Phoenix provides access to higher education opportunities that enable students to develop knowledge and skills necessary to achieve their professional goals, improve the productivity of their organizations and provide leadership and service to their communities.”
From the University of Phoenix. “Columbia University is one of the world’s most important centers of research and at the same time a distinctive and distinguished learning environment for undergraduates and graduate students in many scholarly and professional fields. The University recognizes the importance of its location in New York City and seeks to link its research and teaching to the vast resources of a great metropolis. It seeks to attract a diverse and international faculty and student body, to support research and teaching on global issues, and to create academic relationships with many countries and
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regions. It expects all areas of the university to advance knowledge and learning at the highest level and to convey the products of its efforts to the world.” From Columbia University. Corporations
“Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad” from Apple “Our vision is to be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.” from Amazon “To bring inspiration and innovation to every athlete in the world.” from Nike “Our mission at McMath Woods P. is to provide each of our clients with the most effective ethical representation possible, and to preserve and promote the civil justice system” from a law firm, McMath Woods P. “Our Roadmap starts with our mission, which is enduring. It declares our purpose as a company and serves as the standard against which we weigh our actions and decisions. To refresh the world...
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Mission Statement Analysis Free Essay Example
Course: Strategic management (6112)
University: Addis Ababa University
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