Unit 9 overview and key concepts

¶ … traditionally a sentence or a paragraph in which the organization states its objectives. At a general level, the organizational objective is that of gaining increased financial results in order to meet its fiscal expectations. Nevertheless, the mission statement is the means by which the company communicates the broader goal to the public -- or the means in which the goal would be attained. Specifically, the economic agent strives to attain its financial objectives through the full satisfaction of the needs and wants of the various stakeholder categories.

The stakeholders include the totality of individuals or groups who are directly or indirectly influenced by the operations of the firm or which -- in one way or another -- impact the firm. Some examples of stakeholders include the staff members, the customers, the business partners, the share holders or the general public. In the context of the financial objectives of the firm and the needs of the stakeholder categories, the mission statement could be formulated as follows:

It is the scope of our company to become the leader of the industry, to be the choice of preference for our customers and to manage our operations in order to create a better working environment for our staff members, a higher value for the customers and the share owners and a better developed community.

The construction of the organizational mission statement is essential for the ultimate success of the firm as it sets the basis and the context for the organizational culture to be implemented. And it is the organizational culture which motivates employees to support the company in reaching its overall objectives. In other words, the importance of the mission statement is represented by the fact that it has the ability to set the direction in which the firm would be moving in terms of its relationship with the stakeholders and in order to meet the company objectives.

In order to ensure that the objectives enunciated in the mission statement are attained, it is necessary that the company based its strategies -- of both internal as well as external operations and behaviors -- on synergies. In other words, it is necessary to ensure that the organizational stakeholder interact in an efficient manner. For instance, the company would be focusing on the creation of a pleasant working environment, in which the staff members are motivated and supported to develop from a personal and professional standpoint. Cultural diversity would not only be integrated and accepted, but it would be embraced as a source of social and professional development.

In turn, the motivated and satisfied staff members interact with the customers and enhance the customer experience. They for instance reveal higher levels of commitment to customer satisfaction. Customer satisfaction subsequently generates loyalty to the firm and as such high levels of revenue sustainability and an increased ability for the firm to attain its financial objectives. In the same context, it is essential to eliminate the negative synergies which could appear in the relationship between the firm and its employees, between the employees and the customers and so on.