Does a Mission Statement Define Your Business free essay sample

Mission Statement Define Your Business? There are approximately 18. 5 million companies in North America , with 83% of companies using a mission statement But according to Chris K. Bart, a professor of strategy and governance at Master university, he estimates that only 10% of mission statements say something meaningful . Does this mean that there are only approximately 185,000 companies In North America that are competitive, forward hinging with strong corporate cultures while the rest are wandering aimlessly through the economic landscape?Peter Trucker stated that A business Is not defined by the companys name, statutes, or articles of incorporation. It is defined by the want the customer satisfies when he buys a product or service. To satisfy the customer is the mission and purpose of every business. The question What Is our business? can, therefore, be answered only by looking at the business from the outside, from the point of view of customer ND market. We will write a custom essay sample on Does a Mission Statement Define Your Business? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Peter states that a business is defined by what it provides for a customers satisfaction.There are two aspects that are important to every company when defining who they are: what they provide customers and their internal corporate culture. Is a company defined by its mission statement? ONION There are two aspects to defining how your company is perceived. There are internal customers, employees, and external customers, consumers, who look to your company for satisfaction on raying levels. The external customers look for the goods and services provided, quality, and price. Their satisfaction is met when they receive what they want. The mission statement has no bearing on them achieving this satisfaction. The Internal customers have economic and, sometimes more importantly, psychological needs that must be met for a company to reach its full potential. Is this created by the Nilsson statement? Mission Statements have been the buzzword of the asss. A Mission Statement was led by some as the Holy Grail to what direction the company should go and what its guiding principles should be.The mission statement isnt the defining factor for your corporate culture, your corporate culture is the defining factor of your mission statement. If the mission statement doesnt define a company. Can It still be useful? Definitely; it is a summary of the core values that are considered to make the company unique among its competitors. It also offers employees a set of principles that they can use In decision making. Robber resolution and strategic planning.The breakdown occurs when the actions of the company contradict the mission statement. If this happens repeatedly, employees will lose faith in the leadership toy 2 that has no specific goal or guidance. It becomes a bad thing when a mission statement devolves into platitudinous pabulum that employees clearly recognize as hypocrisy. To avoid these pitfalls after the creation of the mission statement, management must foster the culture along with the mission statement in a consistent manner.