A mission statement is a concise summary of an organization's or person's purpose and aims. It is most often used by organizations in strategic planning and can be used by almost any type of business, organization or venture. The desire to create personal mission statements increases its popularity as a tag.
For organizations, a mission statement seeks to describe the organization, its purposes and its methods. Many use the mission statement in promotional materials or on their web sites. Personal mission statements, in contrast, basically summarize what you want to do with your life or in the near future. In either case, the goal is for the statement to be succinct, meaning it may require a great deal of thought to be effective and meaningful.