Every organization has a mission statement and it holds quite a significant place in the entire brand and company architecture. Plus it provides the way forward for the top management and the key employees of the firm to attain all the long term and short term objectives. It provides the purpose and a goal forming as an integral part of the business strategy.
The mission statement provides the way forward for the vision of the firm and it is formulated and curated as per the vision statement. Hence, it is quite vital for the firms to understand the Importance of Mission Statement.
Let us discuss in-depth the Importance of Mission Statement.
Importance of Mission Statement
1) Works as a navigation tool
The growth and success of any organization are dependent on its short term and long term objectives. And it is very important for the firm to carefully craft and follow the way forward accomplishing all the aims and objectives.
When the firm and its management realize and follow the Importance of Mission Statement, they have a clear and perfect blueprint in hand as mission statement works as one of the finest navigation tools to attain all the goals and objectives amidst all the obstacles and bottlenecks at the marketplace.
2) Helps to maintain your focus, energy, and attention
The mission statement of the firm is not just framed with an intention to give you and your firm a jump start at the very beginning. In fact, the actual intention behind the same is to help and guide you through your entire professional journey amidst all the business cycles and evolutions.
When the firm is battling with all the internal and external market-related issues, it helps you to maintain your focus, energy, and attention on the end goal and the vision statement. And this attribute helps in ironing out all the flaws and issues in the most seamless and strategic manner.
3) Helps to come up with new and innovative ideas
As mentioned earlier that realizing the Importance of Mission Statement helps the firm to come up with the strategic ideas and way forward holds quite an imperative place for a firm. It also helps to spark new and fresh ideas that are untouched, untapped, unraveled, and outlandish in their approach.
As the mission statement is framed not with an objective to keep the firm stuck to the old and traditional ideas but to embrace the changing dynamics and the evolving tastes and preferences of the target market and audience.
4) Helps to shape the work culture
Having a mission statement well aligned with the core values and fundamentals of the firm is quite necessary as it also helps in shaping the work culture of the organization. And work culture is quite a significant element of the entire brand architecture and the organizational structure as it talks about the core values, employee motivation, and decision making aspects of the firm.
It is also the responsibility of the HR department of the firm to integrate the aspects of mission statement in the firm’s rules and policies.
5) Sends out a brand message in the market
As mentioned earlier, the mission statement of the firm is framed in alignment with the core values and objectives of the firm. It is also an integral part of the brand architecture of the firm. It is important to display the same in the company’s website, corporate brochure, brand books, and all the other crucial documents talking about the firm’s plans and objectives.
The main reason behind the same is that it sends out a powerful brand message in the market and industry as a whole. It makes the industry veterans, experts, critics, customers, vendors, investors, and the other stakeholders about the values, vision, and strategic plans of the firm.
6) It helps to strive and drive action
It is always a thumb rule of branding and corporate culture that mission statement is framed after the conclusion of the vision statement. The vision statement talks about the destination where the firm wants to reach. And mission statement talks about on the way forward and point of action on how to attain the vision of the firm.
Understanding and following the Importance of Mission Statement helps to strive and drive the action to accomplish all the short term and long term goals and objectives of the firm.
7) Works as a significant part of the brand architecture
As mentioned earlier, the mission statement is based on the core values, fundamentals, and objectives of the firm. It works as a significant part and element of the entire brand architecture of the firm helping with the way forward to accomplish all the goals.
Many of the stakeholders such as investors, bankers, financial institutions, vendors, and customers require the firm to explain and display the mission and vision statement.
8) Helps as a template for decision making
The market is never stable owing to the quite many obstacles and bottlenecks such as ever growing competition from the new and existing players, evolving tastes and preferences of the customers, changing norms and policies of the government, and other such issues.
To successfully survive and thrive in the dynamic market, the firm requires to some decisions that help to shape up the future of the firm. And realizing and following the Importance of Mission Statement works as a template for decision making to iron out the effects of obstacles and bottlenecks.
Right from paving as a way forward to accomplish all the goals and objectives of the firm, working as an integral part of the organization, shaping up the work culture to helping in formulating the strategy; mission statement is one of the crucial elements of the organizational structure and the brand architecture.
It is one of the main onus and responsibility of the management and key employees of the firm to realize and follow the Importance of Mission Statement. It not only helps to initiate the business operations but also during the entire journey of attaining the aims and objectives.