Mission Statement Study

This week at our team meeting we discussed what makes a great mission statement. We took at look at mission statements from famous companies and discussed whether the mission statements communicated the "why" of the company.

We compared the mission statement of Toyota ("To attract and attain customers with high-valued products and services and the most satisfying ownership experience in America") to that of Ferrari ("To make unique sports cars that represent the finest Italian design and craftmanship, both on the track and on the road"). Which mission statement is specific and which one is more broad? Which one mentions their products? Which one is geared towards consumers and which one is geared towards share holders? There was no right or wrong answer, just perceptions.

We all appreciated the to-the-point mission statement of Walmart ("We save people money so they can live better") and we were all a little lost after reading DuPont's mission statement ("To create shareholder and societal value while reducing the environmental footprint along the value chains in which we operate").

A mission statement should be clear and should communicate to everyone the "why" of the company. What's the point of the company? Why does it exists? What does it want to accomplish? What is its mission?

Below:
Left: Peter gives a thumbs up to signal he's done with his assemblies and they're ready for shipping. Right: Richard likes to display customer stickers on his vice.