Abstract
In this chapter, the mission statement is conceptualized as mission, vision, and value statements. These statements are the building blocks and reflect the ultimate distillation of strategic activity. This chapter explains the role of vision, mission, and value statements in planning for organizational excellence. The chapter outlines the quality management system, the importance of defining an effective mission statement, the key requirements for a compelling mission statement, and the reasons why mission statements fail. The chapter concludes with a strong affirmation on the need to develop a precise and comprehensive mission statement and align all business processes to achieve the mission statement.
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