direction: “What do we want the corporation to become?”

Recalling the dilemma of finding a marketing niche while avoiding marketing myopia, a company must strike a sound balance between too wide and too narrow a definition of the business. Too wide a de

What principles should a company keep in mind when developing a mission statement? Appropriate criteria must be chosen for defining the business. There are several alternatives for defining one’s services: by the products one produces, by unique resources that the company possesses, by a particular strength that the company has, by unique financial measures, or by needs that are met. Anyone who has to draft a mission statement should pretend that he or she is an advertising copywriter. “Tell the world in 25 words or less who you are and what you want to become.” The statement should be concise and to the point.

Management must identify the opportunities and threats confronting the company, the critical success factors in the marketplace, and the company’s internal strengths and weaknesses. Then it will have to look both forward and backward. “What have we been doing?” and “What do we want to change?” In the end, though, it is the forward look which should determine the content of the mission statement, to set the future direction: “What do we want the corporation to become?”

Recalling the dilemma of finding a marketing niche while avoiding marketing myopia, a company must strike a sound balance between too wide and too narrow a definition of the business. Too wide a def

the company possesses, by a particular strength that the company has, by unique financial measures, or by needs that are met. Anyone who has to draft a mission statement should pretend that he or she is an advertising copywriter. “Tell the world in 25 words or less who you are and what you want to become.” The statement should be concise and to the point.

Management must identify the opportunities and threats confronting the company, the critical success factors in the marketplace, and the company’s internal strengths and weaknesses. Then it will have to look both forward and backward. “What have we been doing?” and “What do we want to change?” In the end, though, it is the forward look which should determine the content of the mission statement, to set the future direction: “What do we want the corporation to become?”

Recalling the dilemma of finding a marketing niche while avoiding marketing myopia, a company must strike a sound balance between too wide and too narrow a definition of the business. Too wide a de

r less who you are and what you want to become.” The statement should be concise and to the point.

Management must identify the opportunities and threats confronting the company, the critical success factors in the marketplace, and the company’s internal strengths and weaknesses. Then it will have to look both forward and backward. “What have we been doing?” and “What do we want to change?” In the end, though, it is the forward look which should determine the content of the mission statement, to set the future direction: “What do we want the corporation to become?”

Recalling the dilemma of finding a marketing niche while avoiding marketing myopia, a company must strike a sound balance between too wide and too narrow a definition of the business. Too wide a de

strengths and weaknesses. Then it will have to look both forward and backward. “What have we been doing?” and “What do we want to change?” In the end, though, it is the forward look which should determine the content of the mission statement, to set the future direction: “What do we want the corporation to become?”

Recalling the dilemma of finding a marketing niche while avoiding marketing myopia, a company must strike a sound balance between too wide and too narrow a definition of the business. Too wide a de

direction: “What do we want the corporation to become?”

Recalling the dilemma of finding a marketing niche while avoiding marketing myopia, a company must strike a sound balance between too wide and too narrow a definition of the business. Too wide a definition can leave the organization with no real direction for strategic planning, while too narrow a statement can blind management to, or cause it to ignore, environmental changes, opportunities, and threats.

Ultimately, employees are the main audience for a company’s mission statement. The statement not only furthers a common understanding of the organization’s purpose among them but also nurtures allegiance and commitment. All three are essential if employees are to work together effectively to promote the organization’s ends. After having been developed, a mission statement should rarely need to be altered, and then only as a result of a significant change: perhaps a sharp decline in the company’s markets, the crystallization of a new opportunity, or the accession of a new management.