Mission_Statement

1. What is a mission statement and why do we need one' A Mission Statement is a statement that describes an organization’s overriding values, principles, and reason for existing. The mission statement defines the organization’s goals and belief system. It is also a document that provides employees with the ethical behaviours expected in their daily tasks. We need a mission statement because it is ensuring that everyone in the organisations knows the company’s goal and to serve as a baseline for effective business planning. A mission statement is good to have for several reasons. Without one, a business will have nothing to plan on and act on. The mission statement will help the entrepreneur and his or her employees to know what they are doing, why they are doing it, and where they are going. It provides the direction and focus needed for making decisions and implementing those decisions. The mission statement serves as guidance for the entrepreneur and employees to identify and clarify the business' purpose and direction. Researchers have found that high-performing organizations have more thorough mission statements than do low-performing organizations 2. Provide two examples of a mission statement Mission statement of Four Seasons Catering Company: Our Mission in 4 Season’s Catering Company is to provide a worry-free, unforgettable experience for our customers and their guests on whatever occasion they are celebrating, any season of the year, and wherever they are located. To fulfil our Mission we will: * Ensure that we prepare high quality food using the freshest ingredients available to us. * Have experienced professional staffs that will provide exceptional service. * Sensitive to our customer’s needs by creating personalised menu that will suits to their budget without compromising the quality of food. * Not only deliver the food on time but will make sure that food quality is in high standard. * Provide affordable package choices that will include food, beverage and staff. Mission statement of Conroy Catering: Conroy Catering specializes in partnering with our discerning clients to create elegant, memorable experiences. Whether it is a wedding, corporate gathering, or other special occasion, we are committed to providing impeccable service and hand-prepared cuisine in warm, timeless settings. Our exclusive and unique venues, an innovative approach to culinary excellence, and use of the highest quality ingredients create one-of-a-kind experiences. Our customers come first, and our team earns their confidence through exceptional accessibility, attention to detail and a personal approach to service.   3. Explain the difference between a Lease and a Commercial Hire Purchase (CHP) when considering the acquisition of a motor vehicle' A Lease is a written agreement under which a property owner allows a tenant to use the property for a specified period of time and rent. In other words, a Lease is a commercial finance product which enables the customer to have the use of a commercial vehicle and the benefits of ownership, while the financier retains actual ownership of the vehicle. Benefit of a Leasing: * Lower monthly payment. * Lower taxes. * A manufacturer warranty covers the repair bills if something goes wrong with the car. * Costs are known in advance. * Tax deductions are available when the vehicle is used for business purposes. A Commercial Hire Purchase (CHP) is a type of contract is suitable for companies, partnerships and sole traders which the hirer makes an agreement with a financer and are charged monthly for a fixed period of time, the hirer has use of the vehicle for the term of the contract but is not the owner of the vehicle, once the loan has been paid off along with any other payments then the vehicle belongs to the hirer. Other way we can understand a Commercial Hire Purchase is a commercial vehicle finance product. Under a Commercial Hire Purchase a finance company purchases a motor vehicle on behalf of the customer and then gives the customer use. Once the final payment has been made and any residual “balloon” value paid, the customer takes possession of the vehicle. Benefit of a Commercial Hire Purchase: - Flexible contract term ranging from 24 months to 60 months. - Residual value (balloon or final instalment) may be placed on contract. - Costs are known in advance. - Fixed interest rate. - Customers registered for GST can claim the GST in the vehicle price. - The finance is secured against the vehicle, allowing lower interest rates. BIBLIOGRAPHY http://articles.bplans.co.uk/writing-a-business-plan/mission-statement/367 http://www.missionstatements.com/company_mission_statements.html http://www.boardsource.org/Knowledge.asp'ID=3.56 http://www.conroycatering.com/docs/about_mission.html http://www.aussiecarloans.com.au/lease-vs-hire-purchase.html http://wiki.answers.com/Q/What_is_the_Difference_between_hire_purchase_and_lease mm