Dena Murr - The Power of Mission Statements

The Power of Mission Statements

July 2022

Mission statements seem to be getting more sensational these days. With the advantage of hindsight, were WeWork’s and Theranos’s lofty, almost out-of-touch mission statements a sign that they werent heading in the right direction? Looking back, you can’t help but wonder.

WeWork wanted “to elevate the world’s consciousness.”

Theranos dreamed “to create a world in which no one ever has to say goodbye too soon.”

Source: https://actuaryonfire.com/can-you-distinguish-between-wework-and-a-cult-take-my-quiz/

https://bizethicsblog.wordpress.com/

Noble goals, but did these grand ambitions actually reflect what the companies were capable of? Or were they just overblown promises that ultimately led to their struggles?

But they’re more than just a bunch of words slapped on a company’s website – they’re like a compass, or the North Star, guiding every decision a company makes, from the products they create to how they interact with customers. In the fast-paced world of tech, where innovation happens at lightning speed, having a solid mission is crucial to staying focused on the bigger picture.

Take Google, for example. Their mission to “organize the world’s information” isn’t just a catchy phrase. It’s the backbone of everything they do. Whether it’s their search engine, Google Drive, or even their cloud services, this mission influences every product they roll out. By having such a clear purpose, Google makes sure that all their teams are moving in the same direction, cutting through the noise, and focusing on projects that actually align with their vision.

When everyone in a company is on the same page about the mission, it’s a lot easier to prioritize what to build next. Imagine being on a product team at Apple. Their mission is all about “bringing the best user experience.” So, you’d probably focus on making products that are simple, beautiful, and ridiculously easy to use – because that’s what Apple is known for. That mission informs every tiny decision, from design to software development, ensuring that the whole ecosystem feels connected and intuitive.

Mission statements also affect how we, as consumers, see a brand. Think about Tesla. Their mission to “accelerate the world’s transition to sustainable energy” draws in people who care about the planet, and it’s more than just buying a car – it’s about being part of a movement. Tesla’s customers aren’t just buying an electric vehicle; they’re buying into a vision for a better future, and that kind of loyalty is key for them.

Amazon’s mission is “to be Earth’s most customer-centric company" is not a vague goal – it drives everything they do, from customer service to how they optimize delivery. When customers feel taken care of, they come back, and that means more sales, more growth. The mission feeds into their revenue by keeping customers happy and loyal.

Mission statements are the core of what drives a company forward, shaping decisions, products, and ultimately, success.