What is the importance of an organization’s mission?

A mission statement provides a motivational declaration of the company’s purpose for operating. This statement is a reference for employees to aid in maintaining focus to achieve the company’s desired goals. The mission statement also serves as the company’s purpose to inform customers of its reason for conducting business. “A mission specifies the business or businesses in which the firm intends to compete and the customers it intends to serve” (Hitt, Ireland, & Hoskisson, 2009, p. 19).