Mission Statements May Play an Important Role in the Strategic Management Process but the Creation of a ‘Sense of Mission’ Is Even More Beneficial to Organisations

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.

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)

They are comprised of the dreams and inspirations of the organization and where it is headed. This statement also serves as the framework for the organization’s strategic plan. Mission statements are a representation of the organization’s purpose for existing. It should be derived from the vision statement and used as a guide when producing a strategic plan.

Glenn Smith states, “A clear mission sets important boundaries which enable business owners to delegate both responsibility and authority. It provides a framework for thinking throughout the organization. The mission statement forms the basis for alignment not only with the owner, but the entire team and organization.” (Smith, 2016). Once you have determined your mission statement established it should be displayed throughout the organization. It is important to post the misson statement on company letterhead and placed in areas employees can see (example: breakrooms).

Lafley and Martin (2013) define strategy as “an integrated set of choices that uniquely positions the firm in its industry so as to create sustainable advantage and superior value relative to the competition”. A vision and mission can set the strategic intent of the organization. The strategic intent represents a declaration of where the business or organization would like to be at some future time. The vision and mission establish both the future euphoric state and communicate the current reason for organizational existence.

The Mission, Vision and Values of a company play a Fundamental role in Strategy Formulation and Strategic planning. We will discuss throughout this assignment, how developing effective mission, vision and values can help shape, develop and guide a firms Strategic choices. They reflect the firm's fundamental core ideology. At the most basic level a mission statement can describe the firms overall purpose for being. It provides an inside to the present business scope and purpose of the firm that is "who we are, what we do, and why we are here". It explains the firm's very reason for existing. It will

A company’s mission statement specifies how the firm intends to compete and serve their customers (Hitt, Ireland, Hoskisson, 2013, p.18). The vision and mission provide the foundation for an organization’s strategies (Hitt et al., 2013, p. 18). The company’s objectives should be inspiring and relevant to all their stakeholders (p.18). Ford’s vision statement addresses the concerns of their stakeholders and their ability to enhance the firm’s

The mission statement communicates to stakeholders the main activities that the company focuses on in order for it to achieve its vision. The mission statement communicates to employees’ information on how to conduct their day to day activities. The mission statements also describe the organizations, policies, culture as well as ethics (Alesia 2013).

David, F. (2013). The Business Vision and Mission.  Strategic Management. Pearson Education Retrieved from http://faculty.unlv.edu/amiller/BUS496/david%20_sm14_inppt02.ppt

(Barney and Hesterly 2010) The need for a mission statement is based on the presumption that a well-designed mission statement is linked to better organizational performance because it provides a framework for decision making, influence over employee motivation, and a mechanism for signaling organizational legitimacy to stakeholders. (Kirk and Beth 2010) A study in the Journal of Management and Development found that organizational performance was positively affected by the degree of non-managerial employees' involvement in the process of mission statement development and that it negatively affected performance when financial goals were included in the mission statement. (Alavi and Karami 2009)

On the other hand, mission statement is the reason why a company exists and it’s a statement that declares the core purpose of a company. Mission statement usually will remain the same over time (Bratianu, 2007). The mission is different from a vision as it aims to create competitive advantage and also achieve the social goal of a company (Bratianu, 2007).

Mission statement is the creation of value for customers to enable them earns their lifetime loyalty. From the research undertaken it was establishes that Tesco’s mission statement is ‘We make what matters better, together.’

Every organisation requires a mission. The mission is reason for an organization for being in the business. By defining the organization’s mission, forces managers to carefully identify the scope of its products or services (Robbins and Coulter, 2005). M&S has defined their mission as, “To make aspirational quality accessible to all” (M&S, 2009). Marks and Spencer’s have been known for their quality value, service, innovation and trust to all their customers who as a company they have stuck to very well. They are continuing to attract new customers as well as

Vision and mission statements provide information about the organization. They appear in strategic and operational plans. How do you define vision and mission statements? How should they be developed and used?

Mission is still a relatively neglected area of management, and there is no clear agreement on what it encompasses. The Ashridge Strategic Management Centre conducted a 2-year research project designed to fill this gap. The research found that if mission is more clearly defined it can be managed better, and developed a model of mission that includes four elements -purpose, strategy, behaviour standards and values. The project identified companies where, in addition to strong links between these elements, employees also showedan emotional