What is strategic mission statement?
A mission statement outlines a startup's underlying motivation for being in business. It spells out the contribution to society that the organization aspires to make. The mission statement is not a strategic objective, but rather the basis on which the strategic objectives and strategic plan are developed.
Why is the mission statement the first step in the strategic management process?
With regards to the mission, some authors state that mission should precede the planning process because “it is describing the organization's basic function in society, the reason for its existence being including its specific services and products” (Mintzberg, 1983, p.
What are the roles of mission and vision statements in strategic management?
Mission and vision statements play three critical roles: (1) communicate the purpose of the organization to stakeholders, (2) inform strategy development, and (3) develop the measurable goals and objectives by which to gauge the success of the organization's strategy.