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Sunday, April 25, 2010

Strategic Planning - 3 components of a Mission Statement (Part 2 of 3)

Mission and Objectives - A critical first step in the Strategic Planning process to bring the organization into focus and identifying the company's direction.  The mission statement communicates the company's core ideology and visionary goals consisting of the following:

  
1.     Core value to which the company is committed.
2.     Core purpose of the company.
3.     Visionary goals the company will pursue to fulfill its mission.

The core purpose is the reason a company exists.  Similar to the core values, the core purpose is relatively unchanging and for many companies it will endure for decades or centuries.  

The core purpose is the idealistic reason for being.  The importance in the purpose is how the company will post a profit since this is what defines the company.

To identify the core purpose utilize the 5 why principles.  Continuing to ask why will move toward an understanding of the markets and the company's niche.

      “I am here for a purpose and that purpose is to grow into a mountain, not to shrink to a grain of sand. Henceforth will I apply ALL my efforts to become the highest mountain of all and I will strain my potential until it cries for mercy.” - Og Mandino

Reference additional Strategic writings: