What is the purpose of a mission statement?

A mission statement serves a crucial role in defining the core purpose of an organization, articulating its values, and outlining its primary objectives. It acts as a guiding star for the organization, helping to set a clear direction and informing both internal decision-making and external communication. By establishing what the organization stands for and what it aims to achieve, the mission statement aligns the efforts of employees and stakeholders towards a common goal.

The other options don't address the fundamental nature of a mission statement. Financial targets are typically detailed in a business plan or annual report, focusing specifically on financial aspirations rather than the overarching mission. Advertising is related to marketing strategies that promote specific products and services, not the foundational purpose of the organization. Assessing employee performance and productivity pertains to human resources management and evaluation processes, which are separate from the mission statement's role in defining the organization's identity and intentions.