ROLE OF MISSION STATEMENT

The Role of Mission Statements in the Strategic Management Process

Executive Summary

The paper discusses about the significance and the role that mission and vision plays in Strategic Management Process. Thus, the research on vision and mission statement as the strategic management tools has been restricted towards the private for profit organization and more so to the experience of senior managers and executives. The mission statements are overwhelmingly being accepted as the indispensable version of strategic management process for the organizations of the entire types, be it not-for-profit, public sector, for multinational or even medium and small kinds of the organizational performance. The mission and vision statement are often seldom and informal written down. As the organization succeed in towards the business environments, the opportunities starts which indeed allows the company to grow in revenues and the numbers of the employees and encouraging for expanding into markets areas and new product.

Role of Mission Statements in the Strategic Management Process

Introduction

Any company competing in an industry has a competitive strategy, and either expresses or implied. This strategy may have been developed explicitly through a planning process may have originated or implicitly through aggregate activity of the various functional departments of the company. Left to their own devices, each functional department inevitably follows the approaches dictated by their professional guidance and motivation of those in their charge. However, some of these departmental approaches rarely become the best strategy.

It is a fact that a Mission statement is a very important component to an organization's existence because it clearly defines the fundamental purpose of the organization. The aim of such existence will be a uniting factor for the human resource of the organization that will direct them towards the achievement of the organizational goals (Pearce, 2009, pp. 39-43).

Every organization (regardless if they are in the same business/industry) should have a unique mission for its existence. No organization should have the same mission statement. Thus, it is a must for the brain thrust of the organization to create its own unique Mission that will serve as the identity of the organization.

Discussion and Analysis

Each and every organization has the unique purpose and the reason for being; the uniqueness needs to be reflected in the mission and vision statements. An organization achieves a heightened sense of purpose when strategies, employees and managers develop and communicated the clear business vision and mission.

Majority of the companies' uses mission statement as the short but complete explanations of who they are, what they want, where they operate and how they exist. Moreover, the mission statements are created more for the internal objectives and purposes rather than for an organization's customers. Thus, it is important that how and what is communicating to the staff aligns with the strategic vision for senior management (Goet, 2007, p. 2).

Two fundamental tools for an organization, without which it has no identity of course, are its vision and mission. The mission is the reason for the company, the reason for which it ...