Define the Mission of an Organization
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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During the late 1980s, there arose studies that aimed at assessing the impacts and influence of the mission and vision of the company on an organization’s growth and development. An organization’s mission statement refers to a statement that outlines the purpose of the organization and it differentiates it from other organizations carrying out the same business.
A mission statement is a concise and clear expression of the purpose and values of an organization. It defines the direction and goals of the organization and communicates its vision to its stakeholders. A mission statement can have many benefits for an organization, such as: providing a sense of identity and direction for the employees, who can align their actions and decisions with the mission, attracting and retaining customers, partners, investors, and donors, who can relate to the mission and trust the organization, it also differentiates the organization from its competitors, who may have similar products or services but different missions among so many other benefits.
The mission statement defines the purpose of the company, what it does, who it serves, and how it creates value. It answers the question: What is the primary purpose of the company? The mission statement should be clear, concise, and compelling, reflecting the unique identity and value proposition of the company. Mission statements describe the products or services, the target market, the competitive advantage, and the organization's social responsibility.
For a mission to be relevant, there are certain features that it must possess namely; it should be SMART: specific, measurable, achievable, relevant and time bound.
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Define the Mission of an Organization a Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand what a mission statement is and why it is important for an organization
- To identify the main components of a mission statement and how they relate to the organization's vision, values, and goals
- To apply the principles of writing a clear, concise, and compelling mission statement to your own organization or project
1.0 INTRODUCTION
Peter Drucker (1973) contended that a business is not defined by its name or articles of incorporation, he was of the view that a business is defined by its mission statement. What makes a business is if it has a clearly defined mission and purpose.
A mission statement is more than just a catchphrase. It is an authoritative expression of the organization's purpose, values, and goals. It defines why the organization exists, what it does, how it does it, and who it serves.
A mission statement aids the organization in a number of ways such as;
Inform its identity and direction to its stakeholders, such as customers and employees among others
Align its activities and decisions with its core values and objectives.
Inspire and motivate its members to work towards a common vision.
Differentiate itself from its competitors and stand out in the market.
Evaluate its performance and progress towards its desired outcomes.
For an organization to clearly define its mission statement, there are some key steps that can be followed;
Recognize the requirements and difficulties that the organization aims to address. This is usually done by conducting market research, analyzing customer feedback, or brainstorming with the team.
Define the target audience or beneficiaries of the organization's products or services. This can be done by segmenting the market, creating customer personas, or mapping the customer journey.
Articulate a concise and clear statement that summarizes the purpose, values, and goals of the organization. This can be done by using simple and powerful language, avoiding jargon and clichés, and incorporating emotional appeal.
The features of a mission statement are;
It should be Specific meaning that it should clearly state what the organization does and for whom.
It should be Measurable in that it includes quantifiable indicators that are to help track progress.
It has to be Achievable; the mission ought to be realistic and attainable within the resources and capabilities of the organization.
It ought to be Relevant: It should be aligned with the current needs and expectations of the target audience and the market.
The mission has to be Time-bound meaning that it should have a clear timeline or deadline for achieving the goals.
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