What does a mission statement articulate?

A mission statement is a foundational document that defines a company's core purpose and primary objectives. It serves as a guide for decision-making and communicates the organization's values and aspirations to employees, customers, and other stakeholders. By clearly outlining what the company stands for and its commitments, a mission statement helps to align the efforts of the entire organization towards a common goal.

In contrast, the other choices each represent different aspects of business operations but do not capture the essence of a mission statement. Financial projections and growth strategies focus on the quantitative aspects of business planning rather than the qualitative mission. An overview of market competition addresses external factors affecting the business but does not delve into the company's intrinsic purpose. An employee handbook, while important for operational guidelines, is a procedural document that does not encapsulate the company's overarching vision. Thus, the correct choice reflects the mission statement's role in articulating a company’s foundational goals and the strategy to achieve them.