Why Your Edtech Company Should be Mission-Driven
A research done by Gallup states that an organisation or company with a clear and strong mission statement is likely to perform better in the industry.
With a clear mission, company leaders and employees are clear about the direction they need to take, every step of the way. With a clear mission statement, the customers of a company are able to understand its brand better and are able to contribute to it with their support.
The mission for a company defines the reason for its existence and the concept that its brand stands for. It declares the difference that a company aims to make in the world.
What many executives don’t realise is that a company’s mission statement can be used to improve its performance and profitability.
So, what must a leader do align the company’s brand and culture to its mission? What must a leader do ensure that the mission’s needs are met by the actions taken by the employees?
Gallup gives a scientific and step-by-step way of aligning the purpose, brand and culture of a company and engaging its employees to further that purpose:
The idea here is that besides optimising business processes, business managers need to align the company’s brand, culture, purpose, process, etc.
Gallop, keeping in mind all sides of the story, also answered some practical questions around this concept of management.
When a business is growing fast, how do managers balance business growth with the preservation of its mission and culture?
How do business managers avoid putting margins ahead of company’s mission in a fast-changing insdustry?
So, Gallop revealed from its meta-analysis of 192 organisations (49,928 business units) from 49 industries worldwide that, mission and margins go hand-in-hand.
Basically, when employees’ basic engagement needs are catered to, they take a broader picture of their contribution to the organization. Such employees tend to “stay, participate proactively to create a safe environement, have higher productivity, and connect with customers to the benefit of the organisation,” as per Gallop.
The five margin-boosting benefits of being mission-driven for a company, as per Gallop are, that a Mission:
- Drives loyalty across generations
- Fosters customer engagement
- Improves strategic alignment
- Brings clarity (in decision-making)
- Can be measured
Gallop also give Seven strategies for maximizing mission-driven leadership. You can read about it in their article, ‘Why Your Company Must Be Mission-Driven‘.
Some of the edtech companies with a strong mission statement are:
- Udemy – Helping individuals reach their goals and pursue their dreams.
- Coursera – Provide universal access to the world?s best education.
- Khan Academy – Changing education for the better by providing a free world-class education to anyone, anywhere.
- Byju’s – Help children fall in love with learning.
- ABC Mouse – Help children build a strong foundation for future academic success.
- The Edutech Post – Make education accessible for all with the help of technology.
A mission statement is compass for company’s decision makers to make a difference in the world and to drive their companies to success.
What’s your company’s mission statement?
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