Process of Forming a Business Mission Statement

Why A Mission Statement Is Invaluable For A Business

Defining a company’s mission statement is no trivial task. It requires many hours of deliberation and deep thinking to be true to the company’s roots and set achievable and inspirational goals for current and future generations. The company’s mission statement is the foundation for every other decision made. Jordan Sudberg believes the company’s current achievements and future intentions two be the two most crucial components of the company’s mission statement. Such a statement should be accurate in reflecting its past and promising in forecasting the future growth and achievements of the company.

Self-discovery is another vital inclusion that cannot be overstated enough. If the company is already in existence, a distinction needs to be made on what this company is doing differently from its competitors. Once again, the company needs to set itself apart from other companies. A company’s mission statement should also indicate a more significant societal impact. Sustainable growth is another trend that is witnessed by many companies today.

As the business environment evolves, new technologies and innovations are constantly introduced. Companies that are adaptive to these changes will benefit significantly in market share and profitability. Many companies today compete in a global economy. The business environment is constantly evolving because technologies and markets continuously adapt to each other. 

Sudberg reflects on a few values that he believes to be the catalyst behind creating a suitable mission statement. The first of these values is successful as well as sustainable. While a company’s capability of being both successful and sustainable is not set in stone, it must be at least acknowledged and be addressed in any mission statement. The second is to seek out possibilities by exploring the unknown. This allows the company to grow further by looking for new markets and customers. Lastly, Sudberg draws attention to the fact that a company must always be socially responsible for ensuring it is focused on doing business ethically. He further points out that the company’s actions must be significant to the consumer. The consumer’s future is of utmost importance. Despite being an essential element of the formation and operations of a business, a mission statement should not be a permanent fixture. It should be a mere guideline on which to base company decisions. Businesses should never become too comfortable with the decisions made and their consequences. There are still other company aspects that need to be analyzed for improvement purposes. It may be an arduous task to strategize and implement a mission statement at the onset. But Jordan Sudberg believes that the benefits outweigh the difficulties. It is more beneficial to begin by analyzing current goals, markets, and competitors, rather than attempting to infuse all these factors into a single mission statement. A company’s mission statement should not only be imparted to the public but also its employees.

The purpose here is not to merely impart a detailed mission statement that may be incomprehensible and unachievable for most people at first glance. The company’s goal is to share its vision.