What are some different names for “mission statement,” and where will you likely find a firm’s mission statement?
Different Names for "Mission Statement" The term "mission statement" is commonly used, but there are several alternative names or phrases that convey similar ideas: Purpose Statement : Focuses on the reason a company exists, its primary purpose, and how it serves its stakeholders. Vision Statement : Although technically distinct from a mission statement, a vision statement often overlaps in describing the company’s long-term goals and aspirations. Corporate Philosophy : Describes the guiding principles or values that influence a company's strategy and operations. Company Statement : A broader term that can encapsulate the company's purpose, values, and objectives. Strategic Intent : A phrase that emphasizes a firm's long-term goals and the direction it aims to pursue. Core Values Statement : Focuses on the principles and values that guide the company’s actions, often closely aligned with the mission. Foundational Statement : Emphasizes the underlying r...
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