What is the primary purpose of a mission statement?

The primary purpose of a mission statement is to articulate the firm's business and customer benefits. A mission statement serves as a clear declaration of the organization's core purpose and values, focusing on what the company does, who it serves, and the value it brings to its customers. This helps to guide decision-making and align the efforts of all employees with the overall mission of the organization.

While a mission statement may touch upon long-term vision, current products and services, or competitive analysis, its main role is to clearly communicate the reason for the company's existence and the benefits it provides to its customers. This ensures that everyone within the organization is aligned with the primary objectives and understands the essential impact the company seeks to have on its market and clientele.