If you were to create your own company, what kind of company would it be, and what would be your mission statement? How will you describe how the company does business and how will you gear the statement towards employees and shareholders?
If I were to create a company I personally would create a company that's built upon the virtues of research, learning, and uplifting the community. I have personally been very interested in drug development and manufacturing so I would create my own drug company that is able to conduct all the steps in drug development in house. Meaning that we conduct our own pre clinical research, file with the FDA ourselves, conduct our own pre clinical trials, clinical trials, manufacturing, marketing, and selling. I would want the company to primarily focus on diseases that afflict low income areas in the United States AND communities that have been overlooked by their local government internationally. I would also strive for the company to have the highest quality of products without making the price of the drug burdensome for the patient.
Mission Statement: We strive to uplift areas and communities that have not been given the proper care and medical attention due to the negligence from their local state and federal governments.
I would market the company as a company that cares more about its consumers than the profits that are to be made. I would assure all investors and employers that all decisions made would be for the benefit of not only the company but also the consumer as well. I would have a monetary advisory board that would assist me in making sure that the company is making enough profits to be able to expand but at the same time make sure that the people we are targeting are able to afford the drugs and are able to receive the care that they deserve.
I think this is an interesting question to pose for those with or without entrepreneurship ambitions. I think most biopharama or medical device companies share a similar mission objective in the sense that it generally follow the guidelines of collaboration, force for good, innovation, philantrophic, and consumer-first thinkings. That being said, the mission objective of a company can play a role into what type of employees they make recruit in order to adhere to its own objective while also pushing for more innovation in whatever industry fields they are in.
Without delving into my own personal mission objective or personal statements, the original poster also brings up an interesting question of posing the statement to both its employees and shareholders, but also its consumer base. I think that generally, more of the younger generational workforce prefers some type of moral responsibility and compassion from their employer which spurs the increased presence of ESG (Environment, Social, Governance) groups and departments of a company to ensure that the company is doing their part, internally and externally, to be a comparatively morally-good entity.
If I were starting my own business, I would specialize on designing cutting-edge biorobotic prosthesis for people with mobility problems. My company would be a biomedical engineering firm. The following would be our mission statement: "Empowering lives through cutting-edge, accessible prosthetics that enhance mobility and improve quality of life for all."
This mission statement demonstrates a dedication to patient-centered care, innovation, and accessibility. The company's strategy would be in line with the mission statement presented in the lecture since it would provide a clear description of the organization's operations and success metrics. Our goal would be to make sure that our products stay accessible and inexpensive for marginalized communities, while also incorporating the most recent advancements in biorobotics.
The mission statement would highlight to staff members our commitment to innovation, teamwork, and the chance to have a significant influence. In order to draw top personnel who are enthusiastic about developing prosthetics technology and patient care, we would establish a culture that promotes ongoing learning and fosters employee development.
The mission statement would emphasize to shareholders our commitment to long-term value generation and sustainable growth. In order to ensure that our business is successful and has an impact, we would highlight our dedication to innovation and accessibility as strategic advantages. According to the lecture, mission statements should be written with both shareholders and employees in mind. By including social responsibility—which is akin to ESG principles—into our primary objective, we can create a brand that appeals to both ethical investors and the contemporary workforce.
Our company would become unique in the market and draw in partners and investors that appreciate social impact and innovation, as well as skilled experts, by cultivating a feeling of purpose and harmonizing our business operations with our goal.
If I were to create a company, it would focus on developing sustainable healthcare technologies, specifically affordable diagnostic devices for underserved communities. My mission statement would be-- innovating for equity: bridging healthcare gaps with accessible, sustainable technology.
The company would focus on building low-cost, durable medical devices that can operate efficiently in resource-limited settings. Beyond product development, we would also train local healthcare workers to use and maintain these technologies, fostering self-sustaining care models.
For employees, the mission would emphasize collaboration, continuous learning, and social impact. We’d cultivate a culture where everyone feels empowered to innovate and make meaningful contributions, knowing their work improves lives. This sense of purpose would help attract passionate talent and encourage long-term retention.
For shareholders, the mission would signal a balance between profitability and social responsibility. We’d highlight that creating scalable solutions for global health challenges not only fulfills an ethical imperative but also opens new market opportunities. This alignment with ESG values would appeal to impact investors seeking both returns and meaningful change.
Ultimately, the goal would be to build a company that isn’t just sustainable financially but also sustainable in its social mission -creating solutions that last and making healthcare truly accessible for all.