mission statement

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Related to mission statements: Vision Statements

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.
References in periodicals archive ?
Mission statements can be defined as "formal statements that are generated to articulate an organization's distinct and specific purpose or reason for being.
Recently, the litigation group I am lucky enough to lead created it own mission statement.
Before we examine the online mission statements of current honors programs, we need to look at the history of such statements outside the academic world.
Green and Medlin (2003) investigate the link between the completeness and quality of organizations' mission statements and their financial performance and find a significant positive relationship.
Research has shown that most company goal setters do not know how to properly construct their own vision and mission statements.
Almost in spite of this confidence, a second voice has arisen that questions whether the organizational performance promised by mission statements has actually materialized (Davis et al.
The framework presented in this article for developing and evaluating mission statements could enhance the strategic management process in organizations.
Missing from this Mission Statement is the one about, when resources permit, creating new works in-house.
There may he no better time than this to revisit university mission statements in hope of either rediscovering their original promise or testing their relevancy in the 21st Century.
A Personal Mission Statement not only defines how we see ourselves.
In our magazine, and on many of our printed materials, we post our vision and mission statements.
Keep in mind that changing mission statements is an incremental thing.

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