mission statement

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Mission Statement

A brief statement of what a company wishes to accomplish in the course of its operations. A mission statement may be placed in a business plan, on a website or nearly anywhere else. A mission statement is often one or two sentences and is the most concise possible statement of the company's goals. For example, Ford's mission statement in the early 1900s was simply, "Democratize the automobile." See also: Vision statement.

mission statement

an explicit written statement of an ORGANIZATION'S long-term aims and objectives. Mission statements are designed to give substance to the perceived purposes of the organization and provide all employees with an indication of what they are attempting to achieve through their collective endeavours. See BUSINESS OBJECTIVES.

mission statement

an explicit written statement of a firm's long-term aims and objectives. Mission statements are designed to give substance to the perceived purposes of the firm and to provide all employees with an indication of what they are attempting to achieve through their collective endeavours. For example, Glaxo Smith Kline's mission statement reads: ‘Glaxo is a research-based company whose people are committed to fighting disease by bringing innovative medicines and services to patients throughout the world and to the healthcare providers who serve them. In pursuit of this “mission", the Group aims to achieve consistent improvement in the performance of the business, expanding the Group's share of the global market and increasing earnings year on year, thereby delivering superior returns to shareholders.‘ See also FIRM OBJECTIVES, CORPORATE GOVERNANCE.