Final answer:
The mission statement defines the direction and goals of the organization and provides a framework for decision-making and strategy development.
Step-by-step explanation:
The mission statement defines the direction in which the organization is headed and how it will succeed in reaching its desired goal. It serves as a guiding principle for the organization and sets the tone for its actions and decisions.
For example, let's consider a fictional company called XYZ Corp. Their mission statement might be:
XYZ Corp's mission is to provide high-quality and affordable products that enhance the lives of our customers. We strive for excellence in innovation, customer service, and sustainability, while maintaining profitability and shareholder value.
This mission statement clearly states the direction and goals of the organization and provides a framework for decision-making and strategy development.