Mission statement, also known as company mission, refers to a written description of a company's core purpose and focus which stays unchanged over time.
Mission statement definition
Mission statement, also known as company mission, refers to a written description of a company's core purpose and focus which stays unchanged over time. Description includes what the company does, what is important to it, what markets it serves and what direction it is going in.
Mission is the effect of the company's vision. There are many varieties of mission statements, from those with just one punch sentence to the more elaborate ones stating company's purpose, history, values or set of beliefs.
Importance of mission statement in business
In today's more socially aware modern world companies started using mission statements as part of their corporate social responsibility policies.
This way they can promote transparency, allow outsiders to 'feel' the mission of the company and make sure that all business actions can be judged against standardized criteria.
Explore More Terms & Definitions
- Summary dismissal
- Action-reflection learning (ARL)
- Full Life Cycle Recruiting
- Skill Set
- Human Resources
- Gag clause
- Work trials
- Employee Retention
- Key Performance Indicators (KPIs)
- Management by Objective (MBO)
- Restrictive covenant
- Passive Job Searching
- Action learning
Pros and Cons of Hiring Full-time, Part-time and Freelance Employees
How to Post a Job on Facebook?
8 Recruitment Strategies to Attract the Best Talent
20 Benefits of Collaborative Recruiting