ENTREPRENEURSHIP

Detailed explanation-1: -A mission statement defines what line of business a company is in, and why it exists or what purpose it serves. Every company should have a precise statement of purpose that gets people excited about what the company does and motivates them to become part of the organization.

Detailed explanation-2: -The goal of a mission statement is to describe, in a sentence or two, what makes your organization distinct and different from its competitors. Essentially, a mission statement should accurately define your organization’s guiding principles and unite employees around a common purpose.

Detailed explanation-3: -A purpose statement is a single statement that defines the reason your company exists-beyond simply making a profit. It also illustrates how your product or service positively impacts the people you serve. Once your purpose is established, you’ll need a series of goals to drive that purpose.

Detailed explanation-4: -A mission statement is a concise explanation of the organization’s reason for existence. It describes the organization’s purpose and its overall intention. The mission statement supports the vision and serves to communicate purpose and direction to employees, customers, vendors and other stakeholders.