Definition: a Corporate Mission is the whole of the main idea, corporate purpose and drivers behind a corporation, which sends the company, it's executives and employees along its way in a particular direction.
Mission comes from the Latin verb 'mittere' (to send).
The CM is typically defined in a mission statement by the Board of Directors, interacting with top management.
The CM consists of an intelligent mix of 4 components: corporate purpose, values and beliefs, standards and behaviors, and definition of what business we're in.
Functions of the CM are to guide the organization and its strategy by 1. providing direction, 2. providing legitimization and 3. motivating and inspiring (Esprit de Corps).
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