When you think about your favourite brands, you most likely have a reason for liking them. Even if there are cheaper options out there. You may like the quality of the products, you may also align with the company values. Modern consumers are more aware of the businesses they buy from. Successful brands use emotional and logical parts to create a mission statement. Often this statement speaks to each consumer experience. Therefore, businesses need to have an inspiring mission statement. This way, consumers will feel aligned with your products and services. Thus, giving your company a competitive edge. Keep on reading for a mission statement example and how to create on yourself!
What is a Mission Statement?
(Credit: https://strategicmanagementinsight.com/tools/mission-statement.html)
A mission statement is a summary of the goals and values of a business. Additionally, it helps define a business’ reasons for being. A mission statement can be a short sentence or as long as a short paragraph.
A mission statement can be broken into three parts:
- A description of the business.
- The duty of the business.
- The goals of the business.
As a company grows and its goals are achieved, it may have different goals and values. Therefore, it’s essential to change your statement to reflect your new culture. A mission statement example can also be categorized as consumer or product-oriented.
Consumer-Oriented Mission Statement
Consumer-oriented statements define a business’s goals in helping the needs of their customers or giving a solution to a problem. A consumer-oriented mission statement example is by Walmart, whose statement is:
“We save people money so they can live better.”
As you can see, the company clearly states how it provides solutions to its customers.
Product-Oriented Mission Statement
A product-oriented statement focuses on the products or services, not the consumer. A product-oriented mission statement example is by Tesla, whose statement is:
“Our goal when we created Tesla a decade ago was the same as it is today: to accelerate the advent of sustainable transport by bringing compelling mass-market electric cars to market as soon as possible.”
The statement focuses on the product rather than how it benefits clients.
Why Are Mission Statements Important?
Before writing your mission statement, take a look at some of these benefits:
- Creates an Identity: Mission statements help define brand identity. It helps describe who your business is to create unity. Not only among your consumers but employees as well.
- Aids in Attracting Talent: Employees look to mission statements before applying. It helps attract like-minded workers who will work well together.
- Helps Guide Culture: They offer values, beliefs, and norms to help guide culture. They also set the tone for a positive work environment.
- Develops Purpose: They offer employees a purpose and guides processes to reach goals.
- Enhances Performance: Mission statements provide employees with clear goals they can work towards. This can improve engagement and performance.
- Helps Build Community: Mission statements help businesses connect with the larger community. In addition, also helps establish a reputation amongst consumers and employees.
- Helps Align Behavior: It helps employees and consumers align actions towards a goal. This improves company culture and relationships with the community.
- Looks to the Future: Provides consumers and employees to look towards the future. This allows employees to think about how their work impacts the company’s future.
What to Consider Before Writing a Mission Statement
Any mission statement example can be broken into nine components. This can be defined by asking yourself these questions:
- Customers: Narrow down who your customers are. How does your company benefit your customers? What problem does your product or service solve?
- Products or Services: Define your products and services. What do you offer? How are they different from your competitors?
- Markets: Define your location. What market do you want to target worldwide?
- Technology: Define your technological stance. What types of technology does your business use?
- Concern for Survival: Define your economic value. What is your company’s commitment to economic goals? Are you committed to growth and financial reliability?
- Philosophy: Define your beliefs. What are the values and philosophies that guide your business?
- Self-Concept: Define your business. What are your strengths and advantages?
- Concern for Public Image: Define how you want to be seen by the public. Is your business environmentally and socially responsible for its actions?
- Concern for Employees: Define how you want to be seen by your employees. How do you take care of them?
How to Write a Mission Statement
Now, you can write your statement by doing the following:
Have a Brainstorming Session
With a group or by yourself, brainstorm words and phrases that align with your business. These words should be sentiment to the value and purpose of your objectives as a company.
Narrow Your Choices
Once you’ve brainstormed, you should narrow down your choices. Get feedback from the people you trust the most. In the end, you should have a compact list of words and phrases.
Create Sentences
Next, you need to use your words and phrases and use them to create sentences. Remember, your statement doesn’t need to be more than 1 – 5 sentences max.
Review and Refine
Run through your statement over again. Refine and revise as needed. Remember to make your mission statement example as clear and concise as possible. Don’t forget to make sure it’s inspiring as well!
Related Readings
Professional Leadership Institute (PLI) is an educational website providing professionals from all types of businesses with practical education in human resources and leadership. To keep evolving your leadership toolkit, additional PLI resources below will be useful:
