A mission statement clarifies your business's purpose, values, and service to stakeholders.
A mission statement is a foundational element for any business or organization. According to the provided reference, it serves as a core descriptor, capturing the essence of your entity.
The essential elements of a mission statement include:
- Who Your Business Is: It captures the "who" of your business. This defines the identity of the organization.
- What You Value: It communicates "what you value". These are the core principles and beliefs that guide the organization's actions and decisions.
- Reason for Being: It expresses your "reason for being". This is the fundamental purpose or motivation behind the organization's existence.
- How You Serve Stakeholders: It explains "how you serve your key stakeholders". This describes the methods or approaches the organization uses to benefit those it interacts with.
- Identification of Key Stakeholders: It considers your key stakeholders, such as:
- Employees
- Customers
- Donors
- Investors
- Community
By combining these elements, a mission statement provides a clear, concise summary of an organization's purpose, values, and impact on the world around it.
Here's a simple representation of the core components:
| Component | Focus | Examples (Ref) |
|---|---|---|
| Identity | Who the business is | ("the who of your business") |
| Values | Core beliefs and principles | ("what you value") |
| Purpose | The reason for existence | ("your reason for being") |
| Service/Approach | How the business operates and serves | ("how you serve") |
| Stakeholders | Groups the business impacts and serves | Employees, customers, donors, investors, community |
Crafting a clear mission statement by focusing on these essentials ensures that the organization's purpose is well-understood by both internal and external audiences.
