Business Plan Mission Statement Notes

Introduction

• Sheriff Ozzni, adjunct faculty at East Texas A&M University

• Focus on the mission statement for Business Plan number 10

Quote by George Bernard Shaw

• Importance of having a purpose in life and business

• "True joy in life is being used for a purpose recognized as mighty."

• Relevance to understanding personal and business mission statements

Deeper Meaning of the Mission Statement

• A mission statement should reflect its purpose and not be self-serving

• Emphasizes community over ego

• The business should be a force of nature and positively impact the community

• The importance of understanding community needs to provide value

Characteristics of a Good Mission Statement

• Mindful and Meaningful:

• Avoids vague statements; should elaborate on purpose

• Avoids superficiality (e.g., "Be good like the Bible says")

• Example of a Mission Statement:

• Sheriff Ozzni shares his own mission statement

  • Why: Prepare college business students for market demands, ethics, and critical thinking

  • How: Provide academic support and resources using various teaching strategies

  • What: Instruct associate and bachelor's level courses while meeting educational standards

How to Craft Your Mission Statement

• Follow Simon Sinek's framework of the three golden circles: Why, How, and What

• Why: The purpose of the business and why it exists

• Self-reflection required to articulate the essence of the business

• How: How the business achieves its mission and its unique value propositions

• Consider differentiation in the marketplace

• Protect your unique selling proposition (USP) and proprietary processes

• What: What the business offers and the specifics of its products or services

• Clear communication is key to understanding

Important Instructions for the Assignment

• Draft your mission statement according to the outlined instructions

• Format using hanging indentation for clarity and layout

• Remember to focus on value to community and specifics in communication

Conclusion and Submission Details

• Ensure all parts of the mission statement are congruent with instructions

• Submit the assignment as "assignment BP10, [Full Name]"

• Include all required components per the assignment prompt

Introduction

• Sheriff Ozzni, an esteemed adjunct faculty member at East Texas A&M University, brings a wealth of practical experience to the classroom.

• His focus lies on developing a comprehensive mission statement for Business Plan number 10, a critical exercise in bridging academic knowledge with real-world applications.

Quote by George Bernard Shaw

• Shaw highlights the essential nature of a purposeful existence in both life and business contexts.

• "True joy in life is being used for a purpose recognized as mighty." This profound statement underscores the fundamental need to align personal and business goals with a greater mission.

• The relevance of this quote ties directly to the necessity of understanding and crafting effective personal and business mission statements that encapsulate one’s core values and aspirations.

Deeper Meaning of the Mission Statement

• A mission statement should fundamentally capture the inherent purpose of the enterprise. It should not merely serve self-interest; rather, it must extend beyond individual or corporate ego and focus on the broader community.

• Emphasizing the idea of the business as a "force of nature," it must aim to create a positive impact within its community, addressing genuine needs and contributing to society's welfare.

• Understanding community needs is not just beneficial but essential in providing true value and relevance, which can enhance the business's reputation and foster long-term loyalty.

Characteristics of a Good Mission Statement

• Mindful and Meaningful: A good mission statement should be both impactful and reflective.

  • It should avoid vague clichés and articulate the specific purpose of the business in detail.

  • For instance, superficial statements like "Be good like the Bible says" fall flat and fail to provide the necessary depth.

• Example of a Mission Statement:

  • Sheriff Ozzni shares his mission statement to illustrate strong components:

    • Why: To prepare college business students for emerging market demands, instilling ethical practices and sharpening critical thinking skills.

    • How: By providing comprehensive academic support and diverse educational resources, utilizing various teaching strategies tailored to different learning styles.

    • What: Engaging in instructive practices for associate and bachelor-level courses while rigorously adhering to educational standards and fostering an inclusive learning environment.

How to Craft Your Mission Statement

• Follow Simon Sinek's influential framework of the three golden circles: Why, How, and What, which provides clarity in mission development.

• Why: Delve into the fundamental purpose of the business and articulate why it exists beyond just profit generation; this requires deep self-reflection to capture its essence.

• How: Identify how the business realizes its mission. Detail its unique value propositions and competitive advantages.

  • Assess differentiating factors in the marketplace and maintain the integrity of your unique selling proposition (USP), which is crucial for sustaining competitive edge.

• What: Clearly define what products or services the business offers, detailing their specifics. Ensure effective communication to foster understanding among stakeholders and clients alike.

Important Instructions for the Assignment

• Follow the detailed drafting instructions for your mission statement diligently.

• Utilize a hanging indentation format for improved clarity and visual layout.

• Focus intently on the value delivered to the community and precise communication to ensure alignment with the outlined mission objectives.

Conclusion and Submission Details

• Review all components of the mission statement to ensure they align with the provided instructions and criteria.

• Submit the assignment clearly titled as "assignment BP10, [Full Name]" and ensure all required elements are included per the assignment prompt, facilitating efficient evaluation by instructors.