The mission statement is a statement in writing that describes the overall aims of an organisation,that is, what it is trying to accomplish. It sets out the whole purpose of the business
Before any planning can take place the mission of the business needs to be established
There are four key elements to a mission statement:
Purpose – why does the business exist andwho does it exist for?
Strategy – what does the business provideand how is it provided?
Policies and culture – how does thebusiness expect its staff to act/behave
Values – What are the core principles ofthe business?
Mission statements will have some or allof the following characteristics:
Usually a brief statement of no more thana page in length
Very general statement of entity culture
States the aims of the organisation
States the business areas in which the organisationintends to operate
Open-ended (not in quantifiable terms)
Does not include commercial terms, suchas profit
Not time-assigned
Forms a basis of communication to thepeople inside the organisation andto people outside the organisation
Used to formulate goal statements,objectives and short term targets
Guides the direction of the entity'sstrategy and as such is part of management information.
