Company Mission Statements Research Articles

Management Control System and Innovation: Implication for Malaysian Manufacturing Innovation Performance

The study extends prior management control system knowledge by observing the significance of the information generated in facilitating innovation efforts which, in turn, improves the innovation performance of firms. The paper explores the role of company mission and vision statement, job scope description, and performance measurement system as sources of management control information to support firms’ innovation activity and to manage their performance in facing present market demands. Survey was administered to the Product Development Managers randomly selected from the Federation of Malaysian Manufacturers Directory. Based on a total of 102 usable responses, evidence showed that firm’s value positively relates to firm’s innovation activities. The study discovers that diagnostic information is positively significant with incremental innovation, whereas interactive information is significantly associated with radical innovation. Evidently, both types of innovation enhance a firm’s innovation performance. Rather than assessing the immediate return of innovation efforts on firms’ financial performance, the study provides support showing both types of innovation do enhance firms’ innovation performance.

How humble is your company culture? And, why does it matter?

Humility as a virtue of leadership has attracted increased attention in recent years. We introduce the concept of a humble organizational culture and define it as a culture that promotes humility as a key success factor and a source of competitive advantage, and one that institutionalizes six values and norms: (1) employee development, (2) mistake tolerance, (3) transparency, (4) accurate awareness, (5) recognition, and (6) openness. We position a company culture of humility as key to extraordinary success in the marketplace. Humility in individuals includes a willingness to see the self accurately and a propensity to put oneself and others in perspective. In this article, we offer a set of recommendations to help executives build a company culture of humility that supports the six behavioral norms and values that create the foundation for a firm’s competitive advantage. We collected information on organizational cultures of humility for a sample of Fortune 500 firms using data from company mission statements, company websites, and news articles.

The Implementation of Sustainable Development Goals in “BRICS” Countries

This study investigates the adoption and implementation of the United Nations’ Sustainable Development Goals (UN SDGs) in Brazil, Russia, India, China and South Africa (BRICS). The researchers selected 25 top multinational companies and studied the adoption of UN SDGs through its vision and mission statements. Using the content analysis method, this study reveals that although companies in BRICS countries have been trying to adopt defined UN SDGs, important goals are missing. Chinese companies stand first while focusing on sustainable industry innovation and infrastructure, and South African companies’ interest in adopting UN SDGs appears to be very low. Overall, the results depict that important UN SDGs—‘Quality Education’, ‘Climate Action’, and ‘Life Below Water’—are missing from the vision and mission statements of companies in BRICS countries. It is recommended that BRICS countries pay more attention to the UN-defined sustainable development goals. This study is unique in that it provides an analytical method to evaluate the implementation of the sustainable development goals in BRICS countries. Future studies should include more countries, in order to study a broader implementation of the goals.

What do airline mission statements reveal about value and strategy?

A proper mission statement enriched with specific values and culture is essential for effective communications in this industry field. This paper explores the key values embedded in the mission statements of airline companies, and how values are correlated to their strategies. Content analysis and consequently network analysis among the obtained keywords were carried out in this study. Six content dimensions in the mission statements of airline companies were identified as: ‘service’, ‘customer’, ‘concern for stakeholders’, ‘concern for strategy’, ‘competitive advantage’ and ‘development’. In addition, the method of islands on airline networks offers a viewpoint from another perspective. Six core values are identified and reported: ‘tourism’, ‘excellence’, embrace’, ‘transport and continuity’, ‘growth’ and ‘low-fare’. The findings confirm that by employing content analysis advanced network techniques can serve to study mission statements and other similar texts. Moreover, applied text analytic tools through visualization of data represents a new approach in the field of organization study. This research adds to the existing knowledge of the role that mission statements play in airline management.

The Impacts of Adopting a Simple Profit-maximising Strategy Perspective for a Company

Companies are in business to make money, and every business attempts to maintain a continuing growth in the unpredictable economic situation. Therefore, companies are trying to make plans to support firms competing successfully against their rivals. Those plans are designed to state the direction and scope of an organisation over the long term, which achieve advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations. This paper analyzes the situation applied in company's mission statement, the environment analysis, low-cost leadership strategy. By assessing different company examples, it is concluded that adopting a simple profit-mixmising perspective will also have both positive and negative impact.

The Iceman Lab

The Iceman Lab

Content Analysis of Mission Statements - A Case of Pharmaceutical Sector Companies of Pakistan

The objective of this study was to investigate the quality of mission statements of the pharmaceutical sector companies listed in Pakistan stock exchange. In order to achieve this purpose, mission statements have been analyzed using a Nine Point Scale model given by the Fred R. David. Moreover, number of words and sentences used in the statements were also counted. As per published information of Pakistan Stock Exchange (PSX), a total of 9 pharmaceutical companies are listed within this sector. In this study all listed companies were selected to make analysis. Data needed to make comparative analysis of mission statement were collected from websites of these companies. The findings show that most of the pharmaceutical sector companies of Pakistan are making the average level of score and extreme to incorporate their concerns for customer, product, survival, philosophy and self-concept in their mission statements. But they are giving less focus to technology, market, public image and employees. The length of a mission statements are (Min. = 33 and Max. = 120) in words.

Top ten Iranian companies' mission statement analysis

In this paper, mission statements of top ten Iranian companies have been analysed. These companies are chosen by Industrial Management Organization (IMO) of Iran. We have mentioned to different components of a mission statement established by different researchers, and then we have chosen David's nine components to analyse these mission statements. After mentioning to each company's mission statement, we have broken these statements into their components and gathered them in a brief table. One can see that which components are more important and frequent between top Iranian companies, and which ones are not mentioned so much. At the end, we have given some recommendations to companies to develop a comprehensive mission statements by using almost all components alluded by David.

A company I can trust? Organizational lay theories moderate stereotype threat for women.

Women remain under-represented in the leadership of corporate America. According to stereotype threat theory, this under-representation may persist because women are concerned about being stereotyped in business settings. Three studies investigated whether an entity (fixed), compared with an incremental (malleable), organizational lay theory is threatening for women evaluating a consulting company. Men and women viewed a company mission statement or website containing an entity or incremental theory. Results revealed that women--more so than men--trusted the entity company less than the incremental company. Furthermore, only women's mistrust of the entity company was driven by their expectations about being stereotyped by its management. Notably, when combined with high or low representations of female employees, only organizational lay theories predicted trust. Finally, people's--particularly women's--mistrust of the entity company led them to disengage more before interacting with a representative. Implications for women's experiences and outcomes in workplace settings are discussed.

Business collaboration with universities as an example of corporate social responsibility - a review of case study collaboration methods

Corporate social responsibility (CSR) is a concept which is gaining in popularity and is being included in the strategies of more and more companies. Social and environmental concerns, as well as cooperation with stakeholders which is also linked to the concept of sustainable development, are becoming part of the mission statements of numerous companies. The question arises, however, whether CSR is merely a strategic concept, or if it is accompanied by specific actions. The aim of this article is to answer the following questions: What does CSR really mean in hard economic times? Is cooperation between business and stakeholders just a declaration included in company strategies as an element of CSR, or is it an actual practice implemented in everyday activities? What barriers exist to such cooperation? The above issues will be discussed on the basis of the relationship between business and academia in respect of stakeholders and the social dimensions of CSR. The paper is divided into four sections. The first section describes the corporate social responsibility that relates to the economic, legal, ethical and philanthropic expectations which society has of companies, and which indicates the activities of companies which fulfil these stakeholder expectations. Universities are one of the business stakeholders within the social responsibility approach, an external and secondary stakeholder which is not critical to a company's survival. The second section discusses the case study method as a teaching method whereby collaboration between universities and busines is required to develop and apply this method during the educational process. University-business collaboration in this field gives an opportunity to fulfil the postulates of social responsibility through its impact on the quality of education. The next part of the paper analyses the case study of university- business collaboration in preparing case studies for educational purposes in Poland. Specific problems are discussed which indicate the constraints on collaboration between businesses and universities. The last section comprises conclusions and discussions. The main point of the discussion is that, on a declarative level, corporate social responsibility is a common element in companies' business strategies, but on an operational level collaboration with stakeholders as part of CSR does not easily transform into practical action. (original abstract)

Metaphor use in Chinese and US corporate mission statements: A cognitive sociolinguistic analysis

Corpus-based approaches to researching metaphor use in business English have become increasingly prevalent, but metaphor use in the genre of mission statements has received little attention. Using a self-built corpus with the help of the corpus tool Wmatrix, we compared metaphor use as a discursive and cognitive strategy in the mission statements of Chinese and US companies from a cognitive sociolinguistic perspective, focusing on three conventional conceptual metaphors in business discourse: BRANDS ARE PEOPLE, BUSINESS IS COOPERATION, and BUSINESS IS COMPETITION. The use of the source domains of these conceptual metaphors was found to differ significantly in the mission statements of Chinese and US companies, thus revealing differences in the underlying corporate identities and ideologies. Chinese corporations, which tend to describe themselves as energetic leaders and strong competitors, are more competition-oriented, whereas US corporations, which tend to project themselves as ethical and responsible community members, are more cooperation-oriented. The findings of this comparative study can shed light on how Chinese companies build their brand images and thus lead to a better understanding of changing national image of China.

A comparative analysis of web-based corporate mission statements

This study aims to identify the nature of the mission statements of the largest companies in Turkey and around the world and to analyse these statements in a comparative fashion. To that end the web-based mission statements of companies have been examined according to a content analysis method with three distinct criteria, which are used frequently in the literature. In order to determine whether there is a difference in the nature of the mission statements according to where the companies are located, independent groups t-test has been applied. As a result of this study it has been determined that all the companies utilize relatively qualified mission statements and that there is no significant difference between them. Key words: Mission statements, stakeholders, websites.

Warning: Corporations May Be Hazardous To Your Health

Warning: Corporations May Be Hazardous To Your Health

Leadership practices for corporate global responsibility

PurposeThe move of organizations towards corporate global responsibility (CGR) is often a major change process that requires leadership throughout the organization. Despite an array of studies on managerial competencies in this area, previous research on leadership for CGR has not studied the actual leadership practices that are employed in a company's journey to CGR. The paper aims to fill this gap and to show how leadership for CGR is enacted by individuals and organizations that are highly successful CGR leaders.Design/methodology/approachThe paper uses a comparative case‐study approach of five multinational companies that are recognized as industry leaders for CGR. A total of 54 semi‐structured interviews with senior managers were complemented by ten focus groups and an examination of company reports, value charters and mission statements. Interviews as the main source of information were double‐coded in a three‐step process with the goal of knowledge development.FindingsThe paper identifies eight interrelated categories of leadership practices for global responsibility: developing CGR vision, strategy, and goals; integrating CGR into business decisions and operations; top management role modeling of CGR; engaging across boundaries; employee development and empowerment; systematic communication about CGR; developing accountability for CGR; and visible integrity in management behavior and decision making.Practical implicationsThe findings suggest that focusing on these leadership practices helps organizations build a strong leadership culture that is supportive of CGR.Originality/valueThe examination of actual leadership practices on multiple levels complements the existing knowledge on individual management competencies that are useful for driving CGR in organizations.

Challenging the implementation of corporate sustainability

PurposeTo provide in‐depth insights into one specific product recovery operation (remanufacturing) in the automotive sector, taking the example of original equipment manufacturers (OEM).Design/methodology/approachThe research was undertaken within the engine remanufacturing facilities of a major European car manufacturer. The main data collection methods were open‐ended, non‐directive interviews and process observation. In addition, secondary data (internal company reports and documentation) were collected. Overall, a total of 64 interviews were conducted within the engine remanufacturing plant.FindingsThe case study revealed that the remanufacturing processes included challenges that have been traditionally investigated within “conventional” operations and supply chain management, such as high inventory levels or process through‐put times. It was also found that product take‐back and recovery in the automotive sector do not necessarily stem from a company's mission statement that includes (sustainable) responsibility, but are based on other motives. These motivations include the long‐term supply of spare parts, for example.Research limitations/implicationsThe findings are limited to one specific European car manufacturer and may therefore not necessarily apply to the independent automotive remanufacturing sector or to other OEM remanufacturers.Practical implicationsThe case study gives an in‐depth insight into the issues within automotive product take‐back and recovery, the types of obstacles that may occur as well as how these may be overcome in the real world.Originality/valueThe findings provide new, real‐world insights for academia, but also feedback to industry by providing an in‐depth account of current automotive remanufacturing practices undertaken by the OEM.

Mission Statement in Indian Companies: A Content Analysis

The mission statement is the foundation on which other intended actions and strategies of an organization is built. The existence of mission statement promotes a sense of shared expectation in employees and is intended to motivate behaviours of organizational members towards common organizational goals. It is however not surprising that little attention has been paid to study the role of mission statement in Indian firms in the recent past. This paper tries to fill this void in the Indian strategy literature. It focuses on the mission statement of Indian companies drawn from the companies ‘websites. The mission statements are then analysed to determine the extent to which they conform to the commonly accepted views of the ideal mission statement. The deficiency in mission statements of Indian companies are highlighted and conclusions drawn.

Company mission statements and financial performance

Is there a value-relevance associated with the disclosure of a corporate mission? In this study the mission orientation of 143 UK listed companies are analysed according to their orientation towards shareholders, stakeholders, customers and markets. Performance is then analysed by means of multiple regressions, allowing for beta, gearing, size and tax, as control variables, and taking account of mission orientation by means of a dummy variable in separate regressions. As to the accounting return on equity, dummy variables were not significant in the service sector. In the non-service sector the shareholder-orientated dummy was relevant to the accounting return on equity over three years, but the overall model was not very significant. However, three-year stock returns in the service sector are strongly influenced by whether company mission is shareholder orientated or not. In the non-service sector, six-year stock returns, and also excess returns, are influenced by whether a company is stakeholder orientated or not. Mission, according to customer orientation, did not affect performance. The overall conclusion is that there may be some value-relevance attached to mission orientation, although in this sample it was invariant to customer-orientation.

Corporate Commitment to Quality of Life: Evidence from Company Mission Statements

This paper examines the relationship between commitment to Quality of Life and firm size, profitability and industry. Mission statements were content analyzed for Day’s (1987) societal QOL goals and Maslow’s hierarchy. Including firms from Forbes Best Small Businesses and the Fortune 200 insured firm size diversity.Findings include significant (a=.05) relationships between firm size and several Maslow’s criteria. ROE is positively correlated (a=.05) with workforce well being, supporting literature regarding internal marketing. Industry effects suggest that financial services often include societal goals in mission statements, while ecological and safety goals are frequently mentioned in mining, metals and construction.

Agriculture's mission: Finding a partner

AbstractWhat is the mission of agriculture and what techniques are used to accomplish the mission? This paper examines mission statements of agribusiness companies, agricultural producers, and environmental groups. One hypothesis is that agricultural producer groups share missions and objectives with environmental groups and their mission statements should demonstrate shared goals. A second hypothesis is that agricultural producer groups do not share missions or objectives with agribusiness companies and their respective mission statements should demonstrate their lack of common interests. The paper also asks which of these three groups will be the best sources of intellectual and other support as land-grant universities strive to fulfill their respective missions. It is not obvious from the mission statements that the three groups studied share missions or objectives. The mission statements neither reveal clear information on the second hypothesis, that agricultural producers do not share missions or operational objectives with agribusiness companies, nor do the mission statements demonstrate their lack of common interests. Analysis of mission statements is one place to learn which groups have common goals and should work together. But this is only a beginning.

Southwest Airlines: redefining relationships with customers

Concentrates on US domestic carrier, Southwest Airlines, and how its discount air travel has allowed millions to fly where previously they could not afford to. Highlights, in a box, the company's mission statement. Looks at team spirit, culture, employee recruitment, publicity and competition. Acknowledges that low fares may get people on a plane, but by giving them what they want — a good‐humoured carrier taking them to their destinations, safely, on time and with their baggage — they will come back — and do.