From the course: Balanced Scorecard and Key Performance Indicators
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What makes a good mission statement?
From the course: Balanced Scorecard and Key Performance Indicators
What makes a good mission statement?
- An important aspect of running a company is a general agreement among the ownership team and the top managers about the company's strategic direction. This strategic direction, or mission statement, is important in establishing both those things that the company will do and those things that the company won't do. For example, history is riddled with companies and other organizations that have experienced difficulties as their efforts have become unfocused. They are like a little child splashing around in a pond trying to catch all of the fish and ending up catching none of the fish. Now here's the mission statement of McDonald's, our brand mission, "is to be our customers' favorite place and way to eat." Now in my opinion, this is a great mission statement. This McDonald's mission statement suggests that McDonald's has decided, at least for now, not to extend its powerful brand name into a broad array of goods and…
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