Mission statements in Slovene enterprises

Management Decision, 2007

Serbian Journal of Management, 2018

A mission statement is the personification of the organizational identity and serves as the central point for each employee to identify him-/herself with the organization. A well-defined mission ensures the stability of an organization's business as it provides a clear direction for actions and represents an important cohesion factor. Employees' behavior implied by mission is important for the achievement of the end business results; so, it is not surprising that it is considered to be a powerful tool in the management of an organization. This paper is aimed at showing the extent to which employees are familiar with the mission of the company they work for and at pointing out the differences in understanding mission between employees in public and privately-owned companies in Serbia through carrying out an empirical research study. For the purpose of this research, a questionnaire was defined according to the Denison model and distributed indirect contact with the respondents and via the Facebook social network. The collected data were analyzed and interpreted by using descriptive analysis and the independent sample t-test. The results revealed that companies in Serbia still need to work on familiarizing their employees with mission and that there is a significant difference between state-and privately-owned companies in that respect.

Vision and mission are often considered as an essential part of strategic management. There is probably not a strategic management book that does not mention or explain the importance of these two elements. In history we can find beautiful examples of great visions of e.g. Bill Gates, Steve Jobs or Henry Ford that stay behind companies' success. Based on these examples we often try to analyze how successful vision and mission statements should be created and defined. But there are still some people that remain skeptical on this subject. They see these statements only as formal documents or just another "marketing tool," not a strategic one. There is also often confusion also with distinguishing vision and mission. The goal of this paper is to investigate the role, the attitude and significance of vision and mission statements for enterprises in current environment. It will discuss the experiences and approaches to vision and mission development in the Slovak Republic based on research from 2012. The research was based on gathering of information by questionnaires and structured interviews in companies operating in Slovak Republic from various sectors and on quantitative analysis.

Serbian Journal of Management

A mission statement is the personification of the organizational identity and serves as the central point for each employee to identify him-/herself with the organization. A well-defined mission ensures the stability of an organization's business as it provides a clear direction for actions and represents an important cohesion factor. Employees' behavior implied by mission is important for the achievement of the end business results; so, it is not surprising that it is considered to be a powerful tool in the management of an organization. This paper is aimed at showing the extent to which employees are familiar with the mission of the company they work for and at pointing out the differences in understanding mission between employees in public and privately-owned companies in Serbia through carrying out an empirical research study. For the purpose of this research, a questionnaire was defined according to the Denison model and distributed indirect contact with the respondents and via the Facebook social network. The collected data were analyzed and interpreted by using descriptive analysis and the independent sample t-test. The results revealed that companies in Serbia still need to work on familiarizing their employees with mission and that there is a significant difference between state-and privately-owned companies in that respect.

Purpose -This study uses a stakeholder perspective to explain the content of mission statements, in particular the inclusion of stakeholder groups. The study uses stakeholder dependency theory and resource dependency theory to explain the content of mission statement. In line with this perspective, stakeholders in this study will be classified as either being resource providers, such as employees and customers, or non-resource providers, such as the community and the environment. The primary aim of the study is to find evidence for the theoretical relationship between the importance of stakeholders to the company and the inclusion of stakeholder groups in the company's mission statement. Design/methodology/approach -The use of a large dataset with 490 observations enables a multivariate analysis of mission statement content, focusing on country-, industry-, and company-specific factors. Findings -The study finds that stakeholder groups the company is more dependent on, are addressed in mission statements more frequently. In addition, the profile of an industry, legal origin and ownership concentration are found to be related with stakeholder inclusion in mission statements.

HOLISTICA – Journal of Business and Public Administration, 2019

A mission statement has a significant meaning as the initial and essential step in a company’s strategic planning process. Previous studies have pointed out the necessity of monitoring and longitudinal study of corporate mission statements as they should be continuously revised against changes in companies’ strategies and business environment. This study aims to shed light on what types of strategies and values are currently highlighted in companies’ mission statements in comparison with the findings of a well-known previous study. Therefore, this study conducted a content analysis of 491 Fortune 500 companies’ mission statements. As a result, we found that “philosophy” is mostly highlighted and “profitability” is not emphasized in contemporary companies’ mission statements. Compared to the past study, these findings imply that there have been dramatic changes in the content of corporate mission statements. Besides, this study divided 491 Fortune 500 companies into two groups, high ...

Göksoy, A. (Ed.) (2016), Organizational Change Management Strategies. , 2016

According to the strategic management literature, contents of mission and vision statements can create some individual and organizational level outcomes for organizations. For instance, organizations can give some messages to their stakeholders via their mission and vision statements. By this way, they can take attentions of various stakeholders into the concepts which they attribute importance. In addition, literature on organizational change has a consensus to a large extent about that change is a necessity for organizations in many situations and organizations can use mission and vision statements as a tool to change.

Procedia - Social and Behavioral Sciences, 2018

Although research confirms that company mission and organizational values may influence the performance of individual employees as well as the company, it is evident that explicitly or implicitly codified statements of company mission and organizational values are simply not enough. Employees should feel the meaning of the mission and values, they should exercise them passionately and positively. It is therefore not only important for companies to define such statements but spread such ideas among the employees. By focusing on literature review and empirical research, the paper illustrates and verifies the significance of written and communicated company missions and organizational values. The study is based on a sample of Slovenian companies. In the study, we confirm positive connections between the existence of company mission and organizational values and their communication within a company on one hand and some of the non-financial aspects of company performance on the other.

International Journal of Managerial and Financial Accounting, 2012

The purpose of this research was to explore the components in the content of mission statements and investigate the impact of such statements on company performance. Both qualitative and quantitative approaches were used to explore the mission statements and their impact on performance respectively. Data were obtained from the companies listed in Colombo Security Exchange in Sri Lanka. The results revealed that self-concept, concern for survival, and company products and services are predominant in the contents of mission statements. Moreover, considerable attention is paid to include a staff/employee component in the contents of current mission statements. Finally, it was found that the presence of a mission statement has no impact on company performance. Therefore, managers must be aware that these dominating components when crafting their mission statements.

2014

The mission statement describes the strategic priorities of a company. It determines the roadmap for strategic decision in the corporation. Research on mission statement elements is an interesting field because it clarifies the strategic priorities of the company. This paper aims to analyze these priorities among 48 large Iranian companies active in four selected industries based on David’s (1989) nine-element model. These components include customer, market, general image, product, technology, survival, growth and profitability, philosophy, self-understanding, and employees. The first three components are categorized as external and the remaining ones are grouped as internal components. The sample is drawn from pharmaceuticals, oil and petrochemicals, bank and insurance, and industrial manufacturing sectors. Data was gathered using a checklist based on the aforementioned model to study the mission statements of the selected companies. These mission statements were found on the comp...