Example Of A Mission Statement

1149 Words Sep 26th, 2015 5 Pages
Question 1:-
Contrast the following terms:
a. Mission; Objective statements; competitive strategy
b. Corporate strategic planning ; ISP
c. Top-down planning; bottom-up planning
d. Low-cost producer; product differentiation; product focus or niche
Answer 1:-
a. Mission Statement – A Mission statement is in general an action statement which is usually short ,simple and direct, capturing the essence of what your business or organization wants to accomplish and how. It is a declaration of an organization’s core purpose answering the question, “why do we exist?” and specific enough that employees & public will know, “this is what we do”, “what to expect from us” moreover “how we may differ from our competitors”.
A mission is a very big, long-term end-result or achievement. There may be objectives, goals, strategies, executions and tactics all used to achieve the mission, but the mission is the biggest and most important thing to be accomplished.
The mission statement serves as an update — to you, your representatives, and your clients — of the main purpose of your business.

Objective Statement - Once an organization has developed its mission statement, its next step is to develop the specific objectives that are focused on achieving that mission. Each objective, or level, is separated by a series of stepping stones that the business must climb to reach each objective. The stepping stones are goals. The goals, unlike the mission statement, are actionable and measurable steps.…
Open Document