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About Business Basics
Business Basics are AI-generated explanations prepared with access to the complete collection, human-reviewed prior to publication. Short and simple, covering business fundamentals.
Topics Covered
- Purpose of mission statements
- Mission vs vision statements
- Effective mission statement traits
- Mission's role in alignment and motivation
- Mission, strategy, and performance link
- Importance of clarity in mission statements
- Examples of effective and weak mission statements
Talk Citation
(2025, September 30). Mission statement [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved September 30, 2025, from https://doi.org/10.69645/LVFI3636.Export Citation (RIS)
Publication History
- Published on September 30, 2025
Transcript
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0:00
A mission statement is
a fundamental tool
organizations use to
articulate their purpose, stating
why they exist and what
makes them distinctive.
Unlike a vision statement,
which is future-oriented,
a mission statement describes
what the organization does now,
whom it serves, and
how it creates value.
When well crafted, it
provides clarity for
both internal stakeholders, like
employees, and
external audiences,
including customers,
partners, and the community.
Used by both for-profit and
non-profit organizations,
a mission statement
brings focus and unity,
helping everyone
align their actions
with the organization’s purpose.
An effective mission statement
should be clear, concise,
and free from jargon,
with language that
communicates genuine meaning
rather than buzzwords.
The best mission statements
set the organization
apart by defining what is
unique about its
approach or offering.
Effective mission statements
are specific enough to
provide guidance but
broad enough to inspire.
They establish guiding
principles for decision-making,
even if they do
not dictate daily tasks.
When employees and stakeholders
see themselves reflected
in the mission,
it fosters identification
and motivation.
Mission statements
are not just slogans;
they are foundational
tools that connect to
broader strategy, goals,
and performance measures.
When an organisation
sets its mission,
it provides a touchstone
for goal setting—
ensuring objectives and
key performance indicators
are in sync with the
company’s purpose.