Mission Statement Characteristics and Examples

A set of vocabulary flashcards reviewing the definition, key characteristics, development questions, and corporate examples of mission statements.

Mission Statement

A concise affirmation of the firm's long-term purpose that describes the markets in which the firm will compete and the goods or services it will provide.

Core Questions for Developing a Mission Statement

The four fundamental questions a firm considers when developing a mission statement: What is our business? Who is our customer? What is our value to the customer? What should our business be?

Goal-Focused Characteristic

The characteristic of an effective mission statement that focuses on a limited number of goals to avoid distracting employees with small, less-meaningful objectives.

Customer-Oriented Characteristic

The characteristic of an effective mission statement that focuses on satisfying basic customer needs and wants rather than specific products that change over time.

Shared Purpose Characteristic

The characteristic of an effective mission statement that captures a shared purpose, emphasizes the firm's strengths, and provides motivation for employees.

Google's Mission Statement

Google's mission is to organize the world's information and make it universally accessible and useful.

Amazon's Mission Statement

We seek to be Earth's most customer-centric company for four primary customer sets: consumers, sellers, enterprises, and content creators.

American Express's Mission Statement

At American Express, we have a mission to be the world's most respected service brand. To do this, we have established a culture that supports our team members, so they can provide exceptional service to our customers.

Nordstrom's Mission Statement

To give customers the most compelling shopping experience possible.

Panda Express's Mission Statement

To deliver exceptional Asian dining experiences by building an organization where people are inspired to better their lives.

Urban One's Mission Statement

Our mission is to be the most trusted source in the African-American community that informs, entertains and inspires our audience by providing culturally relevant integrated content through our radio, television, and digital platforms.

Tesla's Mission Statement

To accelerate the world's transition to sustainable energy.