Mission Statment free essay sample

A garage, for example, might limit its target region to the community while a magazine company might target an entire country. Values Mission statements typically include a statement of company values. Values such as customer service, efficiency and echo-consciousness often appear on lists of company values. At their best, company values should express principles the company explicitly tries to affirm In day-to-day operations. Technology For businesses that rely heavily on technology, the mission statement should Include a description of the essential technology the company does or plans to employ.If nothing else, this directs purchasing agents toward the appropriate vendors for goods and services. Employees Every company has a policy regarding its relationship with employees. A mission statement provides an opportunity to describe that policy in brief so employees know the essentials of where they stand. Strategic Positioning Effective mission statements also include a brief description of the businesss strategic position within the market. We will write a custom essay sample on Mission Statment or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page For example, the company might excel at serving residential clients and seek to maximize that strategic advantage. Financial Objectives For for-profit ventures, businesses require clear financial objectives. A start-up company might set one of Its financial objectives as making an Initial public offering of common stock within two years. This lets the employees and potential investors know the company intends to go public, with all of the legal and record keeping ramifications that entails. Image Like people, companies develop public images. Careful companies craft the public image they want to establish and lay out the major features of it in the mission statement.Products or Services 3. Markets 4. Technology 5. Concern for survival, growth and profitability 6. Philosophy 7. Self concept 8. Concern for public image 9. Concern for employees Here is a glimpse of what each of these elements states about in a mission statement . Customers In this element the organization mentions who are its customers or potential customers. What will it do to serve them and how will its customers find this organization different from the other organizations providing similar products or services in the market. . Products or Services In mission statement a business has to mention the producer or service or both they are providing. By defining products or services the company distinguishes its offered products or services from competitive products or services of similar nature provided by other competitors in the market. 3. Markets By defining markets, the company is declaring which types of customers it will target. Or who will be the intended audience for which it will produce products or services. Richest of the rich in the world. 4.Technology By defining technology, the company tells its current technology use in making of its products. It also tells about the unique ways in which its products or services are technologically more advanced then their alternates. 5. Concern for survival, growth and profitability In this element of the mission statement business defines the means it seeks to survive in the longer run. It not merely lists them out but also defines the logic behind them and how will the company strive to achieve them. 6. Philosophy Philosophy of a company is a much wider term to cover.By defining philosophy, the company defines its way of working, its culture, its beliefs and how it sees work to be carried out. It is also an analytical way of defining the norms on which it runs. 7. Self concept By defining the self concept, the business is telling its heart out to the world. In this the company shows the outside world, its core strengths and the place it sees itself in the future. 8. Concern for public image The buzz word is usually corporate social responsibility mixed with concern for public image.First of all these two terms are totally different and they can by no means be intermingled with each other. Corporate social responsibility points the ways in which the business wants to contribute towards the betterment of the society. Concern for public image is a much wider term and can include not only the corporate social responsibility but the overall impact of the actions taken by the company on its image. This may include from minor issues like installing manufacturing recycling plants by a company for pollution reduction to improve its snacking to enhance a better brand image for one of its top line brands. . Concern for employees Earlier day corporations didnt care much about their employees. Thankfully the trend has started shifting from no focus to a lot of concentration on working environment. In a mission statement a company also defines the ways in which it is beneficial for potential and currently working employees to work at a certain organization. This also includes the ways in which the company will treat its employees and how will it look towards this relation in a longer period of time. Wi