The Importance of Having a Company Mission | ACCA P3 Business Analysis

From an accounting perspective, it’s hard to justify having a company mission. They’re hard to value and viewed as dubious by many managers. However, there are three reasons why having a mission is important for some firms. Company missions are covered in the ACCA P3 Business Analysis course.

1. Motivation

Employees are motivated by more than just money. Having a company mission gives them a sense of common purpose and can act as a significant motivator for them.

2. Strategy

When a company has a mission, it can be used to help formulate the strategic direction of the firm.

3. Customers

Customers nowadays want more transparency in their dealings with companies. Not only do they want to know what you sell, but also what your company stands for. Having a mission can influence your customers feelings, and improve sales.