What are the major components of an effective mission?
What are the major components of an effective mission?
In the present world of the competitive business environment, proper strategic management is very essential to survive. Every business, mission statement is considered as a strategic tool which is considered to be the first step in strategic planning and it is the basis for all activities in formulating strategies. For setting future strategies and goals of business an important factor is defining a clear mission. A mission can be defined as the purpose or reason for the organisation's existence. In other words, a mission provides the basis of awareness about the competitive environment, sense of purpose, and degree to which the organization's mission fits its opportunities and capabilities which the government offers. Mission statement of a firm doesn't outline the outcome. It has no measurement or time frame associated with it. A mission statement highlights the present position and future scenario of a business firm.
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