Mission Statements For Family Business

The Mission Statement is a vital component in the strategic planning of a business organization. Creating a mission is one of the first actions an organization should take. This can be a building block for an overall strategy and development of more specific functional strategies (Abrahams, 1995). By defining a mission an organization is making a statement of organizational purpose.

Ideally, a good mission statement also provides information regarding the organization’s overall management philosophy, its business model, its technical and social competencies, and its values and beliefs (Aguinis, 2009; Azaddin, 2011; Bart & Hupfer, 2004; Covin, Slevin, & Schultz, 1994). Moreover, to make mission statements of large companies more individually relevant, Azaddin (2011) advocates flexible “guiding statements” that account for the “context, culture, structure, and needs of an organization” (p. 31). Thus, a mission statement must be meaningful and applicable to all stakeholders for strategic decision-making to be effective.

I aim to advise the family in a way that honors God and allows them to set up this business in a way that honors God as well. The Bible instructs us all in Colossians 3:23-24 that “whatever you do, work heartily, as for the Lord and not for men, knowing that from the Lord you will receive the inheritance as your reward. You are serving the Lord Christ” (ESV). The siblings must know that regardless of the business form they choose to operate by, they will be held accountable for this company and its activities. Even though their goal is to choose a business form with limited liability and lower their tax burdens, they will still be responsible to pay taxes and debts owed by the company. Proverbs 27:17 says “Iron sharpens iron, and one man sharpens another” (ESV). Alex, Bill, Carl, and Devon will be called upon to sharpen one another to display Christ to others through sound business practices.

Mission statements for any organization are today a foundation stone for defining its activities, attitudes and culture. Thus the mission statement influences the organization to a very great extent. Thus the mission statement shows the degree of internalization and the general principles of governance adopted by the institution, and its core values and responsibilities and the area of interest. (Yopp, 2008)

What is a business mission statement and how can it be applied in business. pg 181

Covey commences his message with his own individual, respective opinion that a family mission statement is an endeavor to convey to a clear level as to what an exclusive family’s values and goals are so that they can all be on the same page. The purpose of him being the feature spokesman on the radio show was to encourage the listeners to create a family mission statement. He emphasized reasons why a family needs a mission statement. For example, family mission statements helps families create harmony and move from success to significance.

Dontigney, E. (2014). 9 characteristics of an effective mission statement. Demand Media. Retrieved from http://smallbusiness.chron.com/9-characteristics-effective-mission-statement-18142.html

This is the agreed-upon statement by the organization and explains the reason for its existence. It is necessarily broad to encompass the diversity within the business. The statement is not precise in its measurements nor does it need to be, but it does need to be periodically reviewed by the business to see whether it still encompasses all of the relevant activities of the business.

The Home Depot mission statements speaks volume as to the organizations form of business. Their 100% customer services surpass their competitors and loved worldwide. In the last sixteen years, Home Depot has increased its dividends from 0.04 in 8/29/2000 to 0.69 in 8/30/2016. The increase of net income and dividends displays the organization has maximized its earning potential. The mission was clear and its objective has clearly opened the doors for success.

In 1991 she created a new magazine called “Martha Stewart Living” that would become a huge thing

Before starting up a new business, entrepreneurs make the business plane to guide them towards their goals, objectives, and values. An important part of any business plane is mission statement. According to Deborah Sweeney, the author of "What's your Mission?", mission statement should summarize the whole business as it includes the goals and objective of the company. An attractive and well written mission statement should be simple and short to the point. Sweeney mentions that mission statement is important for all businesses and a company that does not have one should write the statement as soon as possible. Sweeney states that there are four main points for any mission statement: "value, inspiration, plausibility and

Numerous large businesses that are operating today were once started as small businesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers’ needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would-be entrepreneurs should be familiar with the proper approaches to start their businesses.

Leben Group Bakery, strives in providing fresh bake food to the community where it operates. With its commitment to produce quality bakery products cost effectively, in an environment that is perfectly clean, safe and friendly to both employees and the community.

Take a position: Mission statements are critical to a successful marketing organization versus mission statements rarely provide useful marketing value. MY OPINION:Pro: A well-crafted corporate mission statement reflects the values of the firm as they relate to the community at large, its stakeholders, its employees, and its customers. Once the firm’s positions are delineated in the mission statement, marketing can begin the process of setting its priorities, goals, and objectives derived from the stated priorities of the firm. With the advent of holistic marketing, what the firm

The mission statement is an opportunity to show the company’s ethics, goals, culture, and norms for decision making. The perfect mission statement should include the company’s goal minimum in 3 ways: What the company does to their customers, what the company does to their employees and what the company does for its own stakeholders. Better mission statements go further and define fourth and fifth dimensions: how the company helps in the community, and around the world. The mission statement should be about one or two paragraphs. It should take about 30 seconds to read the mission statement. The mission statement should state particular question such as Who is your company? What does your company do? Why are you in that particular business?