Mission Statements

Posted in Marketing and Strategy Terms, Total Reads: 1841
Advertisements

Definition: Mission Statements

Mission statement reflect a vision, the ultimate objective which the organization wants to achieve in the coming 10 years or so. The mission statement gives the individuals in companies a benchmark, a goal and a way which needs to be followed to achieve the final objective. It is a clear representation of company’s purpose of existence.


Characteristics of Mission statement are:-

  • They focus on limited number of goals
  • They stress the company’s major policies and values.
  • They define the major competitive spheres in which the company operates.
  • They take a long term view
  • A good Mission statement is short, memorable and meaningful.


Example:-

  • Fortune 500- you really have to be focused on quality to be in this club
  • Inc. 500- here’s how you get to be the best of the best small businesses in America

Browse the definition and meaning of more terms similar to Mission Statements. The Management Dictionary covers over 7000 business concepts from 6 categories.

Search & Explore : Management Dictionary



Share this Page on: