Mission Statement

&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad1" id&equals;"quads-ad1" style&equals;"float&colon;left&semi;margin&colon;0px 0px 0px 0&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;<p>Mission statement in business language is the statement of purpose for the business&period; It can also defined as the reason of existence for the business&period; Mission statement can be defined at corporate and business level&comma; mission statement for corporate representing the entire umbrella of business units whereas mission statement at business unit level specifically define single business&period;<&sol;p>&NewLine;<p>Mission statement is important for the business due to several reasons are mentioned below&period;<&sol;p>&NewLine;<p>&&num;8211&semi; The objectives for the business extracted from mission statement&period;<&sol;p>&NewLine;<p>&&num;8211&semi; Resolve difference of views among different stakeholders involve in decision making&period;<&sol;p>&NewLine;<p>&&num;8211&semi; Streamline the decision<&sol;p>&NewLine;<p>&&num;8211&semi; Show clear path to the stakeholders for current and future decisions&period;<&sol;p>&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad2" id&equals;"quads-ad2" style&equals;"float&colon;none&semi;margin&colon;0px 0 0px 0&semi;text-align&colon;center&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;<h3>Mission Statement Components<&sol;h3>&NewLine;<p>There are nine components which the strategist think are essential in mission statement&period; Nine components presence in the mission statement is not mandatory but business mission statement with these nine ingredients consider as the best mission statement&period;&lbrack;sky&rsqb;<&sol;p>&NewLine;<p><strong>Customer<&sol;strong> &&num;8211&semi; Mission Statement should include answer the question &&num;8221&semi; Who are firm customers&quest;&&num;8221&semi;&period;<&sol;p>&NewLine;<p><strong>Products and Services<&sol;strong> &&num;8211&semi; What are the firms major product and services&quest;<&sol;p>&NewLine;<p><strong>Markets<&sol;strong> &&num;8211&semi; Define the markets in which the firm competing&period;<&sol;p>&NewLine;<p><strong>Technology <&sol;strong>&&num;8211&semi; Define the technology which the firm using for running their business&period;<&sol;p>&NewLine;<p><strong>Concern of survival&comma; growth and profitability<&sol;strong> &&num;8211&semi; Is the firm committed to growth and financial soundness&quest;<&sol;p>&NewLine;<p><strong>Philosophy<&sol;strong> &&num;8211&semi; The basic&comma; belief&comma; values&comma; aspiration and ethical priorities of the firm&period;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad3" id&equals;"quads-ad3" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;