What is mission? How is it different from purpose? Discuss the essentials of a mission statement.

A mission and a purpose are similar in that they both describe the reason for the existence of an organization, but there are some differences in the connotations of the two terms. A mission refers to the overall objective or plan of an organization, while a purpose refers to the intention behind why the organization was created.

A mission statement is a concise and clear statement that describes the purpose, goals, and values of an organization. It defines what the organization does, for whom it does it, and why it exists. A well-written mission statement serves as a guiding principle for the organization and helps its employees, stakeholders, and customers understand its goals and priorities.

In commerce, a mission statement is particularly important for businesses as it helps them to _____ ________ _______ _________ ________ _____ __________ ___ __________ ________.
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