An organization exists to accomplish something. At first, it has a clear purpose or mission, but over time its mission may become unclear as the organization grows, adds new products and markets or faces new conditions in the environment. When management senses that the organization is drifting, it must renew its search for propose. It is time to ask: What is our business? Who is the customer? These simple sounding questions are among the most difficult the company will ever have to answer. Successful companies continuously raise these questions and answer them carefully and completely.
Many organizations develop formal mission statements that answer these questions. A mission statement is a statement of the organization's purposes what it wants to accomplish in the larger environment. A clear mission acts as an invisible hand that guides people in the organization.
Traditionally companies have defined their businesses in product terms or in technological terms. But mission statements should be market oriented. Products and technologies eventually become outdated, but basic market needs my last forever. I think this answer will satisfy your question.
Many organizations develop formal mission statements that answer these questions. A mission statement is a statement of the organization's purposes what it wants to accomplish in the larger environment. A clear mission acts as an invisible hand that guides people in the organization.
Traditionally companies have defined their businesses in product terms or in technological terms. But mission statements should be market oriented. Products and technologies eventually become outdated, but basic market needs my last forever. I think this answer will satisfy your question.