Why does a business need to define its mission and engage in planning?

Why It Matters: Planning and Mission

Why does a business need to define its mission and engage in planning?

You learned earlier that the four main functions of management are planning, organizing, leading, and controlling. Planning is the initial step that guides and informs all the others. It starts with clarity of purpose and goals formalized in the organization’s vision, mission, and values statements. These statements are the foundation for all activities in an organization and direct the behaviors of all the people in the organization.

LEARNING OUTCOMES

Distinguish between mission and vision in business.

Explain how a values statement can support the goals of an organization.