Which of the following is the BEST definition of a mission statement? A broad set of plans for implementing decisions made for achieving organizational goals A determination of what business or businesses a company will own and operate An organization's statement of how it will achieve its purpose in the environment in which it conducts business An assessment of organizational strengths, weaknesses, opportunities, and threats

A mission statement is a brief description of a company's fundamental purpose. It answers the question, "Why does our business exist?" The mission statement articulates the company's purpose and primary objectives. Its prime function is internal to define the key measure or measures of the organization’s success and its prime audience are the leadership team and stockholders. Therefore, the best definition of a mission statement among the given options is "An organization's statement of how it will achieve its purpose in the environment in which it conducts business". This statement reflects the company's purpose and primary objectives, which is what a mission statement is meant to convey.