Check out this analysis by Morgan Stanley of some of the largest public tech companies in the world: Companies with “simple, focused” missions achieve the biggest gross margins.
Fascinating, yes? Note that QlikView and Salesforce have the biggest gross margins AND more simple, focused missions than the other companies.
A clear mission is so valuable, but so many companies struggle with finding the courage and commitment for standing for something. Or they fall into gobbledygook corporate speak that lacks inspiration and clarity. Or the “mission statement by consensus” process is so draining that people end up with “whatever” missions rather than something simple and great.
Big hint: If the mission process gets painful, you have the wrong people involved.