Title: Develop a mission statement.
Course: Entrepreneurship (12053-I) > Section: Planning an Entrepreneurial Venture

Development should reflect the concept that a mission statement sets forth the purpose and direction of a business, along with strategies for fulfilling its goals.

Process/Skill Questions:

- Why is a mission statement critical to the focus and development of a new business venture?
- What are the essential elements of an effective mission statement?
- How often should a mission statement be revised? Explain.
- How can a mission statement distinguish a business from its competitors?
- Why is it critical that all employees understand and support the mission statement?
- Must a mission statement be measurable? Why, or why not?
- Why is a mission statement important in identifying the direction and objectives of the business?