Management Tip of the Day: State your mission in 8 words

Thu Jan 6, 2011 1:09pm EST
 
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BOSTON (Reuters) - A concise mission statement can help you attract investors, rally your employees, and win customers, according to Harvard Business Review.

The Management Tip of the Day offers quick, practical management tips and ideas from Harvard Business Review and HBR.org (www.hbr.org). Any opinions expressed are not endorsed by Reuters.

"Whether you are a non-profit organization or a for-profit company, a crisp, clear mission statement can help you attract investors, rally your employees, and win customers.

Unfortunately, those statements are often riddled with jargon and grandiose pronouncements that are too abstract to be acted on.

Try to state your mission in eight words or less. Use the format: verb, target, outcome. For example, 'Improve African children's health.'

Keeping it simple will help others understand what it is you do and get behind it. It doesn't end there though. Once you know precisely what your company is good at, you need to measure it to prove your worth."

-Today's management tip was adapted from "The Eight-Word Mission Statement" by Eric Hellweg.

 
<p>Calpers mission statement is seen posted on the wall in the regional office in Sacramento, California, October 21, 2009. REUTERS/Max Whittaker</p>