Mission Statement

Only available on StudyMode
  • Topic: Toyota, Daihatsu, Toyota Group
  • Pages : 5 (1591 words )
  • Download(s) : 2003
  • Published : December 3, 2012
Open Document
Text Preview
INTRODUCTION
TOPIC:
The topic of this report is Mission Statement, Marketing Strategies and competition between two companies. PURPOSE:
The purpose of this report is basically analyzed the competitive strategies of two leading automobile companies. REASON:
The selective reason to prepare the report is to dignified the automobile company.

DEFINITION
MISSION STATEMENT:
A mission statement is a brief description of a company's fundamental purpose. It answers the question, "Why do we exist?" The mission statement articulates the company's purpose both for those in the organization and for the public.

LITERATURE REVIEW
A mission statement is vital to success of a company as a whole. It can unify a company and push them to new heights. Mission statement is a short statement declaring what business you’re in and who you customer is, it provides direction for future corporate development. Creating a mission statement is just as important for a small company starting out. Mission statement usually provides a lighthouse that the company culture can look back to when the company loses track of itself. Determining the direction and purpose of your company can be a very difficult process. It must be specific enough for you to focus the direction of the company. Mission statements are generally more focused on what the nature of the business is. They can be described as Statement of philosophy, statement of beliefs, and statement of business. Once written, the mission statement forms the frame work from which Organizational charts Policy and Procedure statements, product lines, marketing plans, compensation plans and all other efforts of the company become focused. It provides the direction the CEO will take in managing the company. Company’s Mission Statement highlights all areas of the company with each having equally importance that is on Products, Sales, Finance, Legal, employees, community relations and one or two other areas of importance. Mission Statement drives the company. It tells the world what the company hopes to achieve and how it will achieve it. It becomes the road map to the Company’s success or failure. Therefore it must be done first, it must be constantly reviewed and updated, and it must be kept current and alive. When writing your Mission Statement, you must give serious consideration to all phases and aspects of your company. It will be your mirror image, so it must be right. Mission Statement generally includes a statement of purpose, a business statement, and an indication of the company’s values. An ideal mission statement should be inspiring to employees. The statement brings a certain focus to the staff as the purpose of their work. There is a distinction between mission and vision statement as many companies confuse them and put them together in the same statement. As company’s vision statement may describe desirable and possible future state or long term aims of a company and is also a backdrop of a purpose and company’s strategy.

The mission statement should allow each employee to see their own personal role in the firm’s success. A well developed Mission Statement also provides the focus accurately describe what products and services the company offers. When you sit down to write your mission statement, there are several things you should keep in mind. Who are my clients and what are their needs and desires? How do I fulfill those needs and desires? What values does the firm currently have? What values do I want it to have? The decision makers in the company should sit down and talk about their thoughts and how they want to represent the company to the public. Once they thoroughly discuss, write and re-write the statement, they should make sure that it’s something that employees can buy into and customers can appreciate. Mission statement is no more than one or two sentences. Use active verbs that distinguish...
tracking img