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The Role of the Mission Statement in Modern Companies

Introduction

The modern world is characterized by the increased importance of business. It plays a critical role in the life of people and communities, as giant organizations have enough resources to impact states at the global level. At the same time, the high popularity preconditions the appearance of new actors that try to generate income and benefit from the current environment, and the fierce rivalry. Trying to survive and create the basis for further evolution, companies try to create a recognizable image that is vital for the generation of a competitive environment. The mission statement is one of the significant elements of the brand’s identity as it outlines its current purpose and differentiates it from other agents acting in the same industry.

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Main body

The importance of mission is also evidenced by the fact that it is one of the major elements impacting the decision-making process within a company. This statement outlines the existing goals of the firm and the way they can be achieved. At the same time, the mission statement of all business units is available to clients; moreover, companies devote much attention to familiarizing the target audience with this information to attain their loyalty (Kotler & Keller, 2015). For this reason, top managers should follow the course outlined in the mission statement and align the decision-making process according to the concepts embodied in it. Any alteration in the policy will be noticed by the publicity and precondition vigorous debates.

Mission also lays the ground for the practice of sufficient and ethical management. This statement is especially important for the public service sector. The company that champions the idea of fair and ethical activities and includes this concept in its mission statement is unable to act regardless of this very course. On the contrary, concern for mission predetermines the choice of methods and approaches that can be employed by managers and the types of leadership that might be available to them (Kotler & Keller, 2015). In such a way, the mission statement affects the company at different levels and remains a significant factor impacting its evolution.

The real-life example of the mission’s critical importance and a leader’s actions to observe it is related to Tesla. It is one of the fast-growing and innovative companies producing electric vehicles. Its mission states:

Tesla’s mission is to accelerate the world’s transition to sustainable energy.

The given idea impacts both the company and its head, Elon Musk. He is known for his innovative projects and space program. However, he also performs multiple actions to ensure that the mission statement remains central to the organization. Thus, due to his charismatic figure, the idea of electric cars becomes more and more popular, and new clients are attracted by multiple benefits. At the same time, he boasts innovation and environmentally friendly character of technologies that might help to protect the environment.

Conclusion

Altogether, the mission statement remains one of the central elements of modern companies. It helps to differentiate them from other ones and demonstrate to clients the exiting goals. At the same time, the concept impacts the choice of strategies, methods, and policies that can be utilized by a company to achieve the desired purposes. Companies’ leaders also devote much attention to this concept and try to guarantee that firms will act regarding the framework outlined in the mission statement to preserve their target audience and preserve the image of the brand.

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Reference

Kotler, P., & Keller, K. (2015). Marketing management (15th ed.). Pearson.

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StudyCorgi. (2022, May 9). The Role of the Mission Statement in Modern Companies. Retrieved from https://studycorgi.com/the-role-of-the-mission-statement-in-modern-companies/

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StudyCorgi. (2022, May 9). The Role of the Mission Statement in Modern Companies. https://studycorgi.com/the-role-of-the-mission-statement-in-modern-companies/

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StudyCorgi. "The Role of the Mission Statement in Modern Companies." May 9, 2022. https://studycorgi.com/the-role-of-the-mission-statement-in-modern-companies/.

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StudyCorgi. 2022. "The Role of the Mission Statement in Modern Companies." May 9, 2022. https://studycorgi.com/the-role-of-the-mission-statement-in-modern-companies/.

References

StudyCorgi. (2022) 'The Role of the Mission Statement in Modern Companies'. 9 May.

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