Importance of Mission Essay Example

strategy and mission is starting point in the process. Mission is necessary at the starting point in the process of formulating a strategy to know: (1) The purpose of the organization. Why does the business exist? Is it to create wealth for shareholders?

Does it exist to satisfy the needs of all stakeholders (including employees, and society at large? ). The mission at the starting point helps in answering above questions. (2) A mission statement at the starting point provides the commercial logic for the business and so defines two things: - The products or services it offers (and therefore its competitive position) - The competences through which it tries to succeed and its method of competing A business’ strategic scope defines the boundaries of its operations.

These are set by management. For example, these boundaries may be set in terms of geography, market, business method, product etc. The decisions management make about strategic scope define the nature of the business. (3) The mission at the starting point defines the Policies and Standards of Behaviour. A mission needs to be translated into everyday actions. For example, if the business mission includes delivering “outstanding customer service”, then policies and standards should be created and monitored that test delivery. 4) It defines the model of Values and Culture that will be followed by the organization durig the process of achieving its business goals. The values of a business are the basic, often un-stated, beliefs of the people who work in the business. These would include:

• Business principles (e. g. social policy, commitments to customers)
• Loyalty and commitment (e. g. are employees inspired to sacrifice their personal goals
  

for the good of the business as a whole?And does the business demonstrate a high level of commitment and loyalty to its staff? )