BROAD OR NARROW MISSION STATEMENTS?
BROAD OR NARROW MISSION STATEMENTS?
- A well-crafted mission statement
- Must be narrow enough to specify real arena of interest
- Serves as boundary for what to do & not do
- Serves as beacon of where top management intends to take firm
- Overly broad mission statements provide no practical guidance in strategy-making --
THEY DON’T HELP MANAGERS MANAGE!
- Diversified companies have broader business definitions than single business enterprises