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The three most important components in a mission statement are identifying the customers, the products and services, and the philosophy of the organization. In order for a business to be successful, outsiders and people within the business must be aware who the organization is targeting. Good mission statements identify the utility of a firm's products to its customers. The mission statement must briefly identify the product and services it offers. For example, the book gives an example where a charter fishing company provides more than just fishing, they provide "memories for a lifetime" thus revealing the utility of the services offered. Lastly, the organization's philosophy must be included in their mission statement because people are concerned about giving money or supporting companies with specific beliefs, values, aspirations, and ethical priorities. People do not want to support an organization without values, or concern for the environment, or a firm that treats their employees poorly. reply for this discussion

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