It will pay measurable financial dividends over time. The commitment to formulating a company mission can be critical to your company's success. It helps keep management focused on preserving or strengthening the company's unique competitive niche. It can also prevent panic and unwise marketing or spending responses to meet an indirect thrust by competitors into your market. The most successful company missions are measurable, definable, and actionable project statements with emotional appeal that everyone knows and can act upon.
Mission statements can also affect company strategies and tactics.
Consider a famous U.S. refrigerator manufacturer whose sales were growing only at the rate of new home-building during the 1950s. They undertook a years-long project to define whether they were in the business of building refrigerators to preserve food or in the business of food preservation. Creating a workable company mission. Companies spend months and years attempting to clearly define the best mission statement for current circumstances. A good mission statement provides vision and direction for the company for at least 10 to 20 years and should not have to be revised every few years with changes in the company's environment.