premise: The corporate mission statement needs detailed consideration by top management to establish the business the company is really in and to relate this consideration to future business intentions. It is a general statement that provides an integrating function for the business, from which a clear sense of business definition and direction can be achieved. By formulating a clear business statement, boundaries for the corporate entity can be conceived in the context of wider environmental trends that influence the business. This stage is often overlooked in marketing planning, and yet without it the marketing plan will lack a sense of contribution to the development of the total business.
hypothesis: A corporate mission statement enables top management to define the future direction of a business.