Friday, 13 December 2019

Unit 3: Defining Mission, Goals and Objectives


Unit 3: Defining Mission, Goals and Objectives


A mission can be defined as a sentence describing a company's function, markets and competitive advantages.Developing your mission statement is the step which moves your strategic planning process from the present to the future.

The mission should be broad enough to allow for the diversity (new products, new services, new markets) one requires for one's business. The mission statement should also be specific enough to provide the focus necessary to the success of your business.

Once a mission statement has been set, every organisation needs to periodically review and possibly revise it to make sure it accurately reflects its goals and the business and economic climates evolve.Company philosophy: It is a set of beliefs, principles, or aims, underlying a company's practice or conduct.ompany self-concept: how much does the company knows itself Goals: It is an open ended statement of what one wants to achieve with no quantification of outcomes or time limit.

Mission: A statement that declares what business a company is in and who its customers are. Objectives: The results an organisation wants to achieve in pursuing its basic mission.

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