What is a mission statement?

Answer 1

It is a statement written by a company for their stakeholders to see (eg. customers, directors and employers). It states the company's aims and objectives. this is a mission statement of Nike:

"To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete."

A mission statement is a formal description of the mission of a business.
The mission statement might be published in several places (e.g. at the front of an annual report and accounts, on promotional material, in the board room and on the factory floor).

There is (thankfully) no standard format for a mission statement. However, an effective mission statement should contain the following characteristics:

• Brief - it should be easy to understand and remember
• Flexible - it should be able to accommodate change
• Distinctive - it should make the business stand out

Examples of Mission Statements

Psion plc
Our mission is to grow rapidly and profitably through innovation in mobile internet.
In pursuing this mission, we will deliver value:
- to shareholders through superior returns
- to customers through solutions and devices that enhance their quality of life and
personal effectiveness
- to staff through a stimulating environment that encourages innovation

Sainsbury's plc
Our mission is to be the consumer's first choice for food, delivering products of outstanding quality and great service at a competitive cost through working 'faster, simpler and together'

Answer 2

A Vision Statement is what you envision in the future

Answer 3

• The aim and values of a company, organization or individual.