Defining the Company's Business and its Mission

An organization exists to carry out something. When management senses that the organization is drifting, it is the time to renew its search for purpose by asking question:

1.   What is our business do?
2.   Who is our target customer?
3.   What do customers value?
4.   What should our business be in future?

The first step in the strategic planning process is defining the company mission.

1). A  mission statement is  a  statement  of  the  organization's  purpose :-what  it  desires  to complete in the larger environment.

2). A apparent mission statement acts as an "invisible hand" that guides people in the organization.

3). Market definitions of a business are better than technological or product definitions. Technologies and Products can become outdated, but basic market needs can last forever

4). A market-oriented mission statement explains the business in terms of satisfying essential customer needs.

The mission statement have to avoid being too broad or too narrow. Mission statements must follow: 

1.   Be specific.
2.   Be realistic.
3.   Fit the market environment.
4.   Show distinctive competencies.
5.   Be motivating.