Mission Statements

Question 1

What is a mission statement

Answer 1

The overriding goal of the business and the reason for its existence

Question 2

Advantages of a mission statement

Answer 2

Gives the business direction

Makes better decisions overall which improves cash flow

Question 3

Disadvantages of a mission statement

Answer 3

Lofty and unrealistic
Can demoralise employees
Takes time and money to develop

Question 4

Impacts of changing a mission statement

Answer 4

Can push for greater good
Strive for global change

Can confuse employees
Takes time fore them to adjust to the change in business direction
Can increase employee turnover, people who don’t like the new change.