Developing a Strong Mission Statement for Your Business

In today's business world, the goals and values of companies are becoming increasingly important as consumers and private investors are becoming more concerned about how they use their money. As a result, many of America's most prosperous businesses have placed endless effort and money into developing sound and appealing vision and mission statements. Sometimes individuals incorrectly assume that these two statements are one and the same. So, businesses must remember that a mission statement is not the same thing as a vision statement (Cardani, n.d.). Rather, "a vision statement pushes the association toward some future goal or achievement, while a mission statement guides current, critical, strategic decision making" (Cardani, n.d., para. 2).

The Importance of Mission Statements

Ultimately, every company, no matter its size, should create its own mission statement from the beginning and should periodically reassess its mission statement to ensure that it has not outgrown its current statement. Moreover, a mission statement should always be drafted with all the key parties (i.e., employees, shareholders, and/or customers) in mind so the business's purpose and direction are obvious to those it feels are crucial to its day-to-day operation (Business Owner's Toolkit, 2008; Cardani, n.d.).

Most importantly, though, much care must be taken when creating a mission statement: "The most successful company missions are measurable, definable, and actionable project statements with emotional appeal that everyone knows and can act upon" (Business Owner's Toolkit, 2008, para. 3). Consequently, it might take a business months or even years to satisfactorily draft a mission statement that (1) stays true to the uniqueness and tradition of the company, (2) utilizes language and length that fits both the target audience and the company, (3) motivates employees, (4) is applicable in the day-to-day operations of the organization, and (5) can remain meaningful and relevant for a number of years (Business Owner's Toolkit, 2008; Cardani, n.d.).

Example of a Mission Statement

To illustrate the importance of the mission statement, consider a company that has been an American icon for over a century: the Coca-Cola Company (The Coca-Cola Company, 2007). Coca-Cola's mission statement is divided into three separate points (The Coca-Cola Company, 2008, para. 2):

"To Refresh the World...in body, mind, and spirit."

"To Inspire Moments of Optimism...through our brands and our actions."

"To Create Value and Make a Difference...everywhere we engage."

Although Coca-Cola's mission statement mentions its products in passing, it is much more market oriented then product oriented. The Coca-Cola Company may have begun as a single product in 1886 and still remains true to its roots with its famous Coca-Cola classic recipe. Nevertheless, the company has not allowed this product, no matter how famous, to solely define its identity. Instead, it has taken its ideals of spreading refreshment, value, and inspiration across the globe using more than 400 different brands of products that are specifically designed to meet each region's tastes and lifestyles (The Coca-Cola Company, 2007). Obviously, if the Coca-Cola Company had focused primarily on its products throughout the years, it would not be able to currently offer so many different products to such a wide customer base.

Conclusion

In the end, I feel that every business should to keep all of this in mind when they start drafting a new mission statement. Usually, the mission statement should to be market oriented so the business has room to grow, no matter how its products change. This will allow the company to define its products, not the other way around. I would suggest that if your company is thinking about creating a new mission statement, you thoroughly research the art of writing mission statements. And throughout the entire process, you must stay true to your business's goals and values, while also considering the mission statements of successful companies, especially your competitors.

References:

Business Owner's Toolkit. (2008). Developing a mission statement. In Small Business Guide. Retrieved April 9, 2008, from http://www.toolkit.com/small_business_guide/sbg.aspx?nid=P03_4001

Cardani, L. (n.d.). Corporate mission statements: A strategic management issue. Retrieved April 9, 2008, from University of St. Francis, Home page of Gerald Kickul: http://www.stfrancis.edu/ba/ghkickul/stuwebs/btopics /works/mission.htm

The Coca-Cola Company. (2007). The Coca-Cola Company heritage timeline. Retrieved April 9, 2008, from http://heritage.coca-cola.com/

The Coca-Cola Company. (2008). Mission, vision & values. Retrieved April 9, 2008, from http://www.thecoca-colacompany.com/ourcompany/mission_vision_values .html