A market-oriented mission statement is a declaration of a company's purpose or reason for existence with a focus on the market or customers it serves rather than the product or service it offers. It is about "why" the business exists and "who" it serves, rather than "what" it does.

For example, instead of saying "We make high-quality smartphones," a market-oriented mission statement would say, "We connect people and enrich their lives through innovative technology."

Characteristics of effective mission statements include:

1. Clear and concise: An effective mission statement is straightforward and easy to understand. It avoids jargon and complex language.

2. Inspiring: It should inspire employees and stakeholders. It should convey a sense of purpose and direction.

3. Long-term: A mission statement should be timeless. It should not be something that needs to be changed frequently.

4. Customer-focused: As mentioned earlier, an effective mission statement focuses on the market or customers it serves.

5. Differentiating: It should clearly differentiate the company from its competitors. It should convey what makes the company unique.

6. Feasible: The mission should be realistic and achievable. It should not promise what the company cannot deliver.

7. Broad: It should be broad enough to allow for creative and strategic flexibility, but not so broad that it lacks meaning.

8. Specific: While being broad, it should also be specific enough to give clear direction.

9. Communicates company values: It should reflect the company's core values and beliefs.

10. Inclusive: It should consider all stakeholders, including employees, customers, shareholders, and the community.

Question

A market-oriented mission statement is a declaration of a company's purpose or reason for existence with a focus on the market or customers it serves rather than the product or service it offers. It is about "why" the business exists and "who" it serves, rather than "what" it does.

For example, instead of saying "We make high-quality smartphones," a market-oriented mission statement would say, "We connect people and enrich their lives through innovative technology."

Characteristics of effective mission statements include:

1. Clear and concise: An effective mission statement is straightforward and easy to understand. It avoids jargon and complex language.

2. Inspiring: It should inspire employees and stakeholders. It should convey a sense of purpose and direction.

3. Long-term: A mission statement should be timeless. It should not be something that needs to be changed frequently.

4. Customer-focused: As mentioned earlier, an effective mission statement focuses on the market or customers it serves.

5. Differentiating: It should clearly differentiate the company from its competitors. It should convey what makes the company unique.

6. Feasible: The mission should be realistic and achievable. It should not promise what the company cannot deliver.

7. Broad: It should be broad enough to allow for creative and strategic flexibility, but not so broad that it lacks meaning.

8. Specific: While being broad, it should also be specific enough to give clear direction.

9. Communicates company values: It should reflect the company's core values and beliefs.

10. Inclusive: It should consider all stakeholders, including employees, customers, shareholders, and the community.

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