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Mission and Vision Statement. A mission statement is a formal short written statement of the purpose of the company or organization. The mission statement should guide the actions of the organization‚ spell out its over all goal‚ provide a sense of direction‚ and guide decision making. It provides the framework or context within which the company’s strategies are formulated. Explain why a mission statement should not include monetary amounts, numbers, percentages, ratios, goals, or objectives. Answer: A mission statement is broad in scope for three reasons. First, it allows for the generation and consideration of a range of feasible alternative objectives and strategies without unduly stifling management. mission statement should include nine components: 1) customers, 2) products or services, 3) markets, 4) technology, 5) concern for survival, growth, and profitability, 6) philosophy, 7) self- concept, 8) concern for public image, and 9) concern for employees (Baetz & Bart, ;.
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