Income Statement
A mission statement primarily establishes an organization’s purpose for existing. It also states an organization’s scope of operations and focus, including its limitations. Having a mission statement keeps the organization and its employees focused on the most important things contributing to the growth and success of the organization.
A mission statement is usually confused with a vision statement probably because they are both crucial to the attainment of an organization’s smart goals. However in the simplest sense, a mission statement focuses more on the present goals while at the same time looking towards the future, while a vision statement projects the future through establishing the organization’s goals and objective statement.
Income Statement Example
Income Statement Monthly Example
Quarterly Income Statement
Importance of a Mission Statement
A mission statement is what separates the important matters to unimportant ones, keeping an organization ‘s value statement towards reaching an ultimate goal. A mission statement gives the organization and its employees a sense of purpose. It also gives an overview of the company’s overall function including the products you offer, the people involved in your organization (e.g. customers, employees, competitors, etc.), among others.
As it sets present goals, it also sets a direction towards achieving such goals in order for the organization to improve and grow. As an organization grows, a mission statement grows with it, and may incur minimal changes from time to time.
Advantages and Disadvantages of a Mission Statement
Having a mission statement can be advantageous in several ways. Here are some of such advantages:
- Sets a path for the organization to take.
- Keeps the organization on track towards a specific goal.
- Gives an organization a clear statement of purpose.
- Motivates employees to move towards growth and success.
- Helps the employees remain focused.
A mission statement can also have certain advantages with it. Here are some:
- Sets unrealistic goals. In some cases, a mission statement can set unrealistic goals which are hard to attain, making the employees feel less motivated.
- Wastes time and resources. Plan a mission statement and (at times) acting it out takes time, and wastes resources. At times this becomes unnecessary and unproductive.
- Requires too much effort. In creating a statement example in word for mission, one needs to make an effort, which at times, can be a waste of energy.
How to Write a Mission Statement
Despite its disadvantages, one cannot deny that many successful organizations out there have a mission statement to guide them along the way. As mentioned, writing a mission statement will require time, effort, and resources. So to make the process less tiring and more fulfilling, here are a few points for consideration:
- Establish the organization’s purpose. This will define why your organization exists.
- Describe the basic operations in a company plan. Let your readers know what you do, and how you do it.
- Think of the distinguishing characteristics of your organization, including the things that make your organization special.
- List down solid goals to keep your organization and its employees motivated.
- Define how your organization can contribute to making your customers’ and employees’ lives better.
- Be clear, specific, and realistic at the same time.
- Keep your mission statement short.
- Do minimal revisions over time. Your statement example in excel for mission serves as the foundation of your organization’s existence, so minimize revisions as much as possible.
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