The Mission statement is a ‘Published Statement, which appears the Entity’s Fundamental Objectives’. In mostly the Mission Statement are identified by asking a typical question of ‘What Business are we in?’
The question above May help the organisation to develop the organisational Mission depend on the What Business is in.
Characteristics of Mission Statement
Facilitate Competitive Advantage through Differentiation.
This is where to create the differentiation by the unique competence to the Market.
Example: Volvo creates the differentiation of Safety concern.
Help Top Management to Decision Making
The Mission Statement will give Clear indications to the top management, how the business strategies should be developed and what are the fundamentals needs to consider.
Facilitate to Control Mechanism
The Mission Statement will provide a clear indication about the Risk management process and the Control Mechanism to the Organisation.
Reflecting the Values and Believes of the Organisation
Mission Statement needs to reflect the Values and Believes of the Organisations. Specially the Mission may suited for the Culture, Race or Religion of a particular organisations Located.
Realistic and attainable
The Mission Statement should be realistic and Attainable to the Organisations to achieve.