Mission Statements

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An introduction to the concept of the mission statement in business strategy

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Mission Statements

  1. 1. Mission Statements
  2. 2. A hierarchy of objectives Increasingly strategic Increasingly detailed
  3. 3. How the hierarchy works <ul><li>The objectives cascade down from the mission getting progressively more specific </li></ul><ul><li>Overall objectives are translated into more specific objectives for different parts of the business </li></ul><ul><li>The hierarchy ensures that at each level the objectives are consistent with the objectives that are above them in the hierarchy </li></ul>
  4. 4. Mission…aim…objective <ul><li>Mission </li></ul><ul><ul><li>A qualitative statement of the business’s aims </li></ul></ul><ul><li>Aim </li></ul><ul><ul><li>A long term plan from which business objectives are derived </li></ul></ul><ul><li>Objective </li></ul><ul><ul><li>A target which must be achieved in order to realise the stated aim </li></ul></ul><ul><ul><li>A time assigned targets derived from the goals and set in advance of strategy </li></ul></ul>
  5. 5. The Mission Statement is… <ul><li>The overriding goal of the business </li></ul><ul><li>The reason for its existence </li></ul><ul><li>A strategic perspective </li></ul><ul><li>A vision for the future </li></ul>
  6. 6. The mission model <ul><li>Purpose </li></ul><ul><ul><li>Contained in the mission statement </li></ul></ul><ul><li>Values and beliefs </li></ul><ul><ul><li>Reflected in business culture </li></ul></ul><ul><li>Strategy </li></ul><ul><ul><li>The competitive position of the business </li></ul></ul><ul><li>Standards and behaviour </li></ul><ul><ul><li>Policies and behavioural patterns expected of employees </li></ul></ul><ul><ul><li>Influenced by organisational culture </li></ul></ul>
  7. 7. Five characteristics of a good mission statement <ul><li>Contains a formulation of objectives that enables progress towards them to be measured </li></ul><ul><li>Differentiates the business from its competitors </li></ul><ul><li>Defines the markets or business in which the firm wants to operate </li></ul><ul><li>Is relevant to all major stakeholders - not just shareholders and managers </li></ul><ul><li>Excites, inspires, motivates & guides </li></ul>
  8. 8. Other characteristics of a good mission statement <ul><li>Brief in length </li></ul><ul><li>A very general statement </li></ul><ul><li>Flexible-should be able to accommodate change </li></ul><ul><li>Business specific and distinctive </li></ul><ul><li>Communicates key values </li></ul><ul><li>Realistic and achievable </li></ul><ul><li>Based on consultation </li></ul><ul><li>Supported by senior management </li></ul>
  9. 9. Criticisms of mission statements <ul><li>Not always supported by actions of the business </li></ul><ul><li>Often too vague and general </li></ul><ul><li>Often merely statements of the obvious </li></ul><ul><li>Often seen as a PR exercise </li></ul><ul><li>Sometimes regarded cynically by staff </li></ul><ul><li>Sometimes not a true reflection of reality </li></ul><ul><li>To mean anything they must be supported wholeheartedly by senior management </li></ul>
  10. 10. Mission statement – Luminar Group plc Our mission is to provide the highest levels of service and care to our customers by utilising our assets to create destination entertainment venues capable of delivering a suite of lifestyle products. These products offer different experiences to a variety of people at different times to suit their needs. http://www.luminar.co.uk/default.asp?pageID=16
  11. 11. Mission statement – Esporta Health Clubs Our goal is to be the leading premium health & leisure club organisation in the UK, passionate about service excellence and dedicated to earning the long term loyalty of our members through rapport based relationships-Esporta-continually striving to help you improve the way you look and feel http://www.esporta.com/mission_statement.asp
  12. 12. Mission statement – Levi Strauss People love our clothes and trust our company. We will market the most appealing and widely worn casual clothing in the world. We will clothe the world.
  13. 13. Mission statement – Walt Disney Co The mission of The Walt Disney Company is to be one of the world's leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world.
  14. 14. Goals and Values – Sainsbury’s Our goal At Sainsbury's we will deliver an ever-improving quality shopping experience for our customers with great products at fair prices. We aim to exceed customer expectations for healthy, safe, fresh and tasty food, making their lives easier everyday. Our values The values of the Sainsbury’s brand – passion for healthy, safe, fresh and tasty food, our focus on delivering great products at fair prices, a history of innovation and leadership and a strong regard for the social, ethical and environmental effects of our operation – have continued to stand the test of time. http://www.j-sainsbury.co.uk/index.asp?pageid=14
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