TO: Managing Director TDM From: Marketing Manager Date: 2ND December 2012 Topic: Mission Statement 1.

0INTRODUCTION Economies all over the world are made up of variety of industries and various organizations. Competition within all the various industries is very intense and that notwithstanding, each organization aims to achieve its goals and objectives. Therefore as a matter of importance, organizations try to draw a set of welldefined goals and objectives which keeps them from focused and on track at all times. It is as a result of this, that corporate mission has gradually become inevitable. 2.0CORPORATE MISSION Mission is an organizations rational for existing at all, and its long term strategic direction and values. According to Henry Mintzberg, a renowned management scholar, the fundamental function of a corporate mission is to highlight the organizations product and services it has to offer its client. One point worthy of notice is the fact that mission statements are not always written down. An organizations employee behavior are often defined and directed by its corporate mission. It therefore serves as the organizations silent rules or better still constitution. The corporate mission also provides a demanding but achievable target, setting out clearly what the organizations intends to accomplish. Due to the fact that corporate missions are very powerful and compelling, it is very much unlikely that organization may deviate from corporate mission. Corporate mission is basically made up of four elements, which are as follows; 2.01 PURPOSE This explains the reasons for the existence of the organization. Some of such reasons may be; Creation of wealth Creation of employment

 Satisfaction of stakeholders(employees,suppliers,distributors,pressure groups, Government Agencies,shareholders,media,local community etc) Making a difference in the industry.

2.02 STRATEGY This defines how the organization intends to execute its activities and purpose in order to gain a competitive advantage over its competitors. An organization may therefore decide to use any of these strategies The Differentiation strategy The cost Leadership Strategy and The focus strategy 2.03 VALUES This is the organizations core beliefs and culture. It is essential that employees relate to the organizations core values. 2.04 POLICIES AND BEHAVIOUR STANDARDS These exist to convert strategies to everyday performance. Example, Politeness to customers, responsiveness to customer complaints/problems among others. In short, corporate mission describes the motives of the organization as a whole. 3.0An organizations mission may be developed by the organizations directors, owners, and Top Management or through outsourcing (i.e. marketing consultants who are specialist in drawing corporate mission for organizations). Therefore our mission might have been originated from any of the above mentioned sources. It is also possible for an organization to draw its mission using that of existing organizations (competitors) as a yardstick. An organizations mission may cover various essential areas of its corporate life. Some of the most important areas are as follows:

3.01 The nature of the firms business: This explores the kind of business or industry the organization is entering. It must highlight the following; The products the organization makes and the services it provides the markets the organization produces for 3.02 The identity of persons for whom the organizations exists: This simply means the kind of people the organization can comfortably do business with. They include customers, staff, shareholders, suppliers and distributors etc. 3.3 Ways of competing: This means how the organization intends to compete with existing organizations who might be stronger due to the level of experience accumulated over the years. To effectively address these particular issues, the organization may consider the following: Reliance on quality, innovation, low prices etc. Commitment to customer care and satisfaction How to successfully spread its operations geographically 4.0 A mission statement is a statement or purpose of an organization. Unlike the corporate mission, the mission statement is very precise, concise and more specific. Also, it is written and can incorporate some but not all of the organizations entire mission. An organizations mission statement may be printed out and pasted at strategic points within its premises. This is to conscientize staff and also to offer its customers a fair knowledge of its purpose of existence. The benefits of a mission statement to an organization cannot be under-estimated. An organization stands to benefit from its mission statement in the following ways: 4.1The mission statement guides the actions of the organization. 4.2 It provides a path and guides decision making. 4.3 It also provides the frame work or conduct within which companys strategies are formulated. 4.4 It serves as a source of motivation to staff. 4.5 Last but not the least; a mission statement distinguishes one organization from another.

5.0CONCLUSION Every company has a mission statement. But mission statements can be very difficult to write. They should be short, clean, vivid, inspiring and concise without using jargons, complicated words or concepts. Mission statements are generally included in documents such as Business plans and staff Handbooks and on company websites. Mission statements can be described as a corporate slogan or an executive summary. It is worth noting however, that highly successful mission statements are memorable, engaging, easy to understand, interpret and relate to.