Answer to Question #155923 in Management for natalie

Question #155923

Discuss the importance of an organisation's mission

Expert's answer

Importance of Mission Statement

A mission statement defines organization’s purpose by identifying its scope of operation, kind of products the firm will produce, intended audience, and its values. This short statement serves as an organization’s philosophy that defines an organization’s desired future. Therefore, a mission statement is essential because it provides companies with direction, which helps its leaders to make decisions that will contribute to a revenue stream. Furthermore, through the purpose highlighted in the statement, employees understand the goal of the company. Workers develop strategies to achieve these goals, which provide firms with stability to overcome any challenges. In addition, mission statements shape organization’s culture, as workers will understand what is expected of them. Technically, a mission statement is beneficial to organizations because it guides the company forward, drives action, and shapes corporate culture.

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