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Mission Statements

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Mission statements are an essential element of a company’s organizational strategy and serve as foundational guides in the establishment of company objectives. They embody the philosophies, goals, and ambitions of a company and should offer insight into what company leader’s view as the primary purpose for being in business. A mission statement is quite possibly the most important issuance that a company has to offer to all of its customers or consumers. It can help focus the organization on what really matters to itself as well as its stakeholders. They act as the glue that binds organizations together through the guidance of strategic and day-to-day operational decisions. An effective mission statement indicates how a firm is unique in its scope of operations and its products or service offerings. In addition, it proclaims corporate purpose, what the organization tends to accomplish, the market in which the firm intends to operate, and the philosophical bounds that are to guide their actions. The coffee industry has boomed in recent years. While fast food chains are growing at a rate of 2% each year, coffee shop chains grow more than 10% annually. According to the National Coffee Association Annual Drinking Trends Survey, “Even though 75% of the cups of coffee brewed daily are consumed at home, 66% of Americans buy their coffee outside of their homes.” This creates a strong demand in the coffeehouse market. Statista defines coffeehouses as “small establishments selling prepared coffee, tea, and other hot beverages.” In recent time, many coffeehouses started competing with other restaurants in the limited-service category by offering baked goods, sandwiches, salads, and other snack items. For instance, Starbucks has been battling Dunkin Donuts and McDonald’s for the top position as coffee king. In order to compete, each company has expanded their menu options and

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