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Explanation of the purpose of mission statements

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1. What key elements should be covered when writing a good mission statement? What is the purpose of a mission statement?

2. What is the difference between primary and secondary research methods? Provide an example of how each of these could be used

3. Write out two different examples of closed-end questions you might use for a market research survey.

4. Putting surveys aside, what other market research methods could be used to gather data? Please describe at least three.

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Solution Summary

This solution discusses the purpose of mission statements and the elements that need to be covered when writing one.

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What key elements should be covered when writing a good mission statement? What is the purpose of a mission statement?

Ideally, mission statements should be short and to the point. When writing a good mission statement there is key elements that need to be covered. These include the following:
What does your business do, what is the reason for your businesses existence?
Who benefits from your business products or services, what are you trying to achieve on behalf of your customers?
Why is it better than other businesses products or services in the marketplace?
What do you do well?
What would you like to be doing better?
Who do you serve best?
Who would you like to serve better?
What actions would you like to be distinguished for?
Where would you like your business to be going?
The purpose of a mission statement is designed to communicate your business purpose to your customers and guide yourself and your staff in making critical strategic decisions about the direction of the company. Overall, the mission statement should be a clear overview of your company values and ideals. A well thought out mission statement can convey your business purpose and reason for ...

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