Mission Statements

• What is the purpose of a mission statement?

  It defines the purpose of a business
• Why does a business exist according to its mission statement?

  To achieve its vision for the future
• What does the mission statement support?

  The vision for the future
• What is NOT included in a mission statement?

  Detailed corporate objectives
• At what level of the hierarchy of objectives does the mission statement sit?

  At the top level
• Who is the mission statement intended for?

  All stakeholders, not just employees
• What should a good mission statement provide?

  A clear sense of business purpose
• What qualities make a mission statement effective?

  Simple, memorable, and distinctive
• How can a good mission statement help a business?

  By differentiating it from competitors
• What is Starbucks' mission statement?

  To inspire the human spirit, one cup at a time
• What is Amazon's mission statement?

  To be the Earth's most customer-centric company
• What is a common criticism of mission statements?

  They may disconnect from actual business behavior
• Why might mission statements be regarded cynically?

  They are seen as just marketing tools
• What can make a mission statement ineffective?

  Being too vague or general
• What is necessary for a mission statement to work effectively?

  Buy-in from all key stakeholders
• What are the characteristics of a good mission statement?

  • Clear sense of business purpose
  • Simple and easy to understand
  • Memorable and distinctive
  • All-encompassing for all stakeholders
• What are the criticisms of mission statements?

  • Disconnect from actual business behavior
  • Seen as marketing tools
  • Often too vague or general
  • Lack of buy-in from stakeholders