An international mission statement comparison: United States, France, Germany, Japan, and China.

King, Darwin L. ; Case, Carl J. ; Premo, Kathleen M. 等

INTRODUCTION

Since the 1970s, mission statements have been the organizational communication that best describes what the firm is about to all stakeholders. According to Drucker, the mission statement is the "foundation for priorities, strategies, plans, and work assignments" (Drucker, 1974). According to Peter Drucker, it is the mission statement that distinguishes one organization from another. It also provides the firm's "reason for being" that is communicated to all interested stakeholders. In addition, Drucker states that a mission statement is essential to the formation of the company's objectives and strategies.

Mission statements are, typically, fairly short containing only one or two paragraphs. Mission statements include all of the central characteristics of the company including the firm's purpose, unique qualities, values, critical stakeholders, and basic goals/objectives. Mission statements have been called creed statements, statements of philosophy, statement of beliefs, and statements of business purposes (David, 2005) David states that these statements should reveal both what a firm wants to be as well as whom it wants to serve. Therefore, the stakeholders named and the goals and objectives identified are analyzed in this paper by the authors.

David also states that the firm's "reason for being" should be clearly stated in a firm's mission statement (David, 2009). He argues that a well written mission statement should provide important information such as the products and services offered by the firm, the primary target markets served, and the firm's concern for growth, efficiency, employees, stockholders, the environment, and long-term profitability. David has identified nine essential components of a well written mission statement. These include a mention of customers, products or services, markets, technology, concern for survival, growth, and profitability, philosophy, self-concept, concern for public image, and concern for employees (David, 2005). From the authors' experience, there are very few mission statements that include all of these items. Many of the mission statements included in the appendix of this paper contain three or fewer of these areas.

Many other authors have offered similar views on the purpose of a mission statement. Annie McKee feels that missions must describe what an organization is, what it does, and what it stands for (McKee, 2012). McKee also believes that without a well defined and established mission statement, the firm may lose its overall focus. In addition, she states that a dynamic mission statement aids managers in making decisions, motivating employees, and integrating short-term and long-term goals and objectives. Jeffery Abrahams reviewed over 300 mission statements from the largest U.S. firms and found that these communications represent an enduring statement of purpose for the companies and reflect their values and priorities (Abrahams, 1999). It is understandable that a mission statement is one of the most important communications for the company and must be thoughtfully developed.

Samuel and S. Trevis Certo argue that the creation of a mission statement is a vital part of the strategic management process (S. & S.T. Certo, 2012). The strategic management process requires the establishment of an organizational direction which typically first requires the creation of an accurate mission statement. This view is shared by Hitt, Black, and Porter (M.A. Hitt, J.S. Black & L.W. Porter, 2012). They also believe that the strategic management process requires a statement that articulates the fundamental purpose of the organization which often includes several components or parts. These can include the company philosophy, company identify or self-concept, principle product or services, customers and markets, geographic focus, obligation to stockholders, and commitment to employees (C. Rarick and J. Vitton, 1995). Many authors believe that an accurate mission statement cannot be prepared without an analysis of both the firm's external environment and its internal resources and abilities.

The authors agree that mission statements are critically important for an organization as it describes to all stakeholders its strengths, purposes, and goals/objectives. In this paper, the authors have decided to compare U.S. mission statements with four non-English speaking nations. The intent is to compare mission statement content concerning the stakeholders identified as well as the recognized goals and objectives of the organization. Earlier research of the authors is presented first in the following paragraphs.

PREVIOUS MISSION STATEMENT RESEARCH

The authors began their mission statement research over ten years ago. Three earlier articles have been previously published in the Academy of Managerial Communications Journal (King, 2001) and the Academy of Strategic Management Journal (King, Case & Premo, 2010), (King, Case & Premo, 2011). The authors' 2001 study involved the Fortune 100 firms in the United States for that year. Table 1 summarizes the results of that study. The mission statements were reviewed for content in two areas. First, the stakeholders identified by the company were summarized. Stakeholders included employees, shareholders, customers, suppliers, and others. Second, the firm's goals/objectives stated in the mission statement were analyzed. These included, among others, an emphasis on core values, attempts to produce a quality product or service, striving for industry leadership, and concern for the environment.

The left column of Table 1 summarizes the identified stakeholders. By far, customers and stockholders were mentioned most often in these 2001 mission statements (61% and 34% respectively). Employees ran a distant third with only 21% of the missions identifying this stakeholder. The right side of Table 1 lists the most frequently identified goal or objective of the firm. In this case, producing a quality product or service and establishing a set of core values were each found in 25% of the 2001 mission statements. Maintaining a leadership position (17%) and providing global operations (15%) were the next most commonly mentioned goals and objectives. It is apparent that customers were considered to be the most important entity identified in the mission statements of 2001. Since these missions existed prior to the passage of the Sarbanes-Oxley Act on July 30, 2002, the importance of ethical behavior was not emphasized as only three firms included that goal/objective.

The authors' analysis of mission statements continued in 2008 when the 50 largest U.S. firms were studied (from Fortune 100 list). Table 2 shows the number of firms that included the various stakeholders and goals/objectives first identified in the 2001 study.

In 2008, the most often identified stakeholders were customers and employees. The top two goals/objectives included in the missions this year were striving to produce a quality product or service and the emphasis on global operations. There were some significant differences in the mission statements of 2001 compared with those in 2008. For example, the use of current technology was mentioned in only one of the top 50 firms in 2008. Also, competitors were mentioned in 9% of the firms reviewed in 2001 and in 2008 none of the top 50 firms mentioned this stakeholder. In order to better review the results of these two studies, Table 3 converts the information from raw numbers (used in Tables 1 & 2) to percentages for easier comparisons.

A number of significant trends can be identified over these eight years. First, in the stakeholder area, the use of the term "community" or "communities" increased significantly. Firms recognized the need to mention the people and places (communities) where they conducted operations in their mission statements. From only 6% in 2001 to 30% in 2008, these large organizations recognized the need to care and support local communities. For example, in 2008, Valero Energy's mission emphasized the firm's desire to take a leadership role in the communities where they live and work through company support and employee involvement. Customers continued to be the most mentioned stakeholder with over 60% of the firms including them in both years. Employees were mentioned more often in 2008 than in 2001 (34% compared to 21%).

There were also some significant trends as far as identified goals/objectives are concerned. For example, the importance of ethical behavior increased ten-fold over this period. From 3% in 2001 to 30% in 2008, it is obvious that the passage of the Sarbanes-Oxley Act passed in 2002 had a considerable impact on missions of these large organizations. Likewise, the number of firms that included concern for the environment increased from 9% in 2001 to 16% in 2008. As discussed above, this is no doubt related to the increased attention given to community.

Other trends in the goals/objectives mentioned in these statements involve the production of a quality product or service and the desire to conduct operations on a global scale. The firms that identified the production of quality products or services increased from 25% in 2001 to 52% in 2008. This is reasonable as many firms consider their foremost goal to be providing a quality product to the identified customer base (both included in >50% of missions in 2008). The practice of this "marketing concept" is apparent as companies realize that long term success is dependent upon the satisfaction of customer needs and wants.

The authors next reviewed the mission statements of the 25 largest firms in the U.S. in both 2010 and 2011. The 2010 study included a comparison of the largest corporations in Australia, Canada, and Great Britain (King, D.L., Case C.J. & Premo, K.M. (2010). The authors compared the mission statements of these four English speaking countries in an effort to discover similarities and differences. The most recent study by the authors summarized the 2011 missions of the largest 25 firms in the United States with those of France, Germany, Japan, and China. This analysis serves as the basis for the final segment of this paper. The appendix contains these 125 mission statements from the above mentioned countries. Prior to that analysis, Table 4 presents a comparison of U.S. mission statements for each of the authors' four studies.

Table 4 shows that the most commonly included stakeholders over this ten year period include customers, communities, stockholders, and employees. Customers are mentioned in the mission statements far more than any other stakeholder (64% in 2011, 68% in 2010). Concern for the community in which the firm operates has become a frequently included stakeholder increasing from only 6% in 2001 to 40% in 2010 but dropping to 28% in 2011. The inclusion of stockholders in the mission statements has decreased somewhat from 34% in 2001 to 24% in 2011. Employees have been mentioned less frequently dropping from 34% in 2008 to 16% in 2011. Finally, suppliers were mentioned in approximately 10% of the mission statements over this ten year period.

A review of the goals and objectives mentioned in these statements shows that the most common include the desire to produce a quality product or service that represents a good value to customers, a concern for ethics and ethical operations, an emphasis on global operations, and a desire to be an industry leader. The "marketing concept" is apparent since the desire to produce a quality product or service that represents a good value to customers is included in the missions more than any other goal or objective (56% in 2010 and 44% in 2011). In 2011, ethical behavior and maintaining global operations were included in 28% of the statements. Being a leader in the industry was mentioned in 20% of the missions in both 2010 and 2011. Finally, a desire to remain profitable was included in 16% of the statements in 2010 and 2011. This, no doubt, is related to the concern for stockholders. The final portion of this paper summarizes the 2011 mission statements of the largest 25 companies in France, Germany, Japan, and China. The similarities and differences in the mission statements of the United States and these four countries will be reviewed.

A FIVE COUNTRY MISSION STATEMENT COMPARISON

Table 5 includes the percentage of firms in the United States, France, Germany, Japan, and China that includes a specific stakeholder or goal/objective in their mission statement. The largest 25 firms in each of these countries were selected based on information provided by the Fortune Company. The appendix of this paper includes the 125 related mission statements. A few firms did not provide an English conversion format and were not usable. Five primary stakeholders were identified which included community, customers, employees, stockholders, and suppliers. Other stakeholders who were mentioned very infrequently were excluded. A total of 12 goals/objectives were identified. These included use of core values, maintaining efficient and effective operations, environmental concerns, ethical emphasis, maintaining global operations, desire for growth/expansion, striving for innovation, leadership emphasis, concern for profits, production of a quality product or service that provides value to customers, concern for product safety, and maintaining customer trust.

A review of the stakeholders mentioned in the mission statements of these five countries provides a number of interesting observations. First, it should come as no surprise that customers are the most commonly included stakeholder in each of these countries. Customers were included in 64% of U.S. missions followed by 52% for Japan, 44% for Germany, and 40% for both France and China. A concern for communities in which the firm operates is common in the U.S. with 28% of missions mentioning this stakeholder. Only 4% of the mission statements in each of the other countries included the community concept. Employees are mentioned in more Chinese missions (32%) than any of the other countries by a significant margin (U.S. 16%, France 8%, Germany and Japan 12% each). Stockholders are also mentioned in more Chinese mission statements (28%) than any of the other countries (U.S. 24%, France 12%, Germany 20%, and Japan 12%). Only U.S. (8%) and Chinese (4%) mentioned suppliers or vendors in their mission statements.

Each of these five countries included customers, employees, and stockholders most frequently as identified stakeholders. The following table shows the top three stakeholders for each of these countries in order of their frequency. Note that China is the only exception to the customers, stockholders, and employees ranking. Also, for Japan, stockholders and employees were both included in 12% of the missions.

A review of the goals/objectives incorporated in Table 5 provides some interesting observations. First, there is a large variety of goals/objectives included in these mission statements. The authors identified 12 different goals ranging from providing a quality product or service that provides value to customers to maintaining the trust of all stakeholders. The most frequently included goals/objectives vary by country. The following paragraphs include a review of the goals included in the missions of the largest firms in each country.

U.S. firms stressed the importance of providing of a quality product or service that provides value to their customers (44%), the maintenance of ethical business practices (28%), conducting global operations (28%), and the desire to be a leader in the industry (20%). In addition, concern for profitable operations (16%) and an emphasis on innovation (16%) are also commonly included in the mission statements of U.S. firms. Other lesser mentioned goals include the use of core values (8%), emphasis on safety (8%), concern for the environment (4%), maintenance of efficient operations (4%), and maintaining stakeholder trust (4%).

French firms emphasized being a leader in the industry (44%) and the maintenance of global business operations (40%) by a wide margin over other goals/objectives. Secondary goals of French firms were the desire for growth or expansion (20%), maintaining profitability (20%), conducting efficient/effective operations (16%), conducting ethical business practices (16%), concern for the environment (12%), and being innovative (12%). The other identified goals were mentioned very infrequently or not at all in French mission statements.

German companies most frequently stressed being an innovative company (36%), being a leader in their industry (36%), providing a quality product or service that represents value to their customers (36%), and the maintenance of global business operations (24%). To a lesser extent, German firms listed a desire for growth or expansion (16%), the maintenance of efficient/effective operations (12%), a concern for the environment (12%), and the maintenance of profitable operations (12%) as identified goals in their missions. Conducting ethical operations or concern for ethics was mentioned in only one of the 25 German mission statements. All of the other countries emphasized ethics to a significantly larger extent.

Japanese firms most often reported as desired goals the desire to conduct global business operations (36%), an emphasis on innovation (28%), and the production of a quality product or service (28%). To a lesser degree, Japanese firms listed goals such as concern for the environment (12%), being ethical and conducting ethical operations (12%), maintaining a leadership position (12%), and the desire to gain the trust of all stakeholders (12%). The other goals identified by the authors were rarely included in the Japanese mission statements.

The Chinese mission statements emphasized the goals of offering a quality product or service that provides value to customers (40%), a desire to conduct global business operations (36%), and a concern for ethical business operations (24%). China was only second to the U.S. (28%) in acknowledging the importance of ethical behavior. Other less frequently reported goals included the existence of core values (20%), a desire for growth or expansion (20%), the significance of innovation (16%), concern for the environment (12%), the attempt to be a leader in the industry (12%), the maintenance of profitable operations (12%), and the importance of producing a safe product (12%). China had the most mission statements that emphasized safety higher than the U.S. (8%) and Japan (8%).

The following table shows the three most commonly included goal/objective for each of the five countries. The table includes a number of "ties" in the ranking of goals for these countries.

For example, 36% of German firms included innovation, leadership, and quality as the primary goals in their missions. Japan's third most commonly reported goals (12% each) were concern for the environment, use of ethical principles and practices, the wish to be a leader in the industry, and the desire to maintain the trust of stakeholders. The production of a quality product or service that provides value to customers was one of the top three goals for every country with the exception of France. The desire to conduct global business operations was included in the "top 3" list for every country. Concern for ethical business practices made the list in the U.S., Japan, and China. The goal of being an industry leader was included in the "top 3" for every country with the exception of China. The desire for growth or expansion made the list for only Germany.

Another interesting observation concerns Chinese mission statements. Chinese firms include the concept of "harmony" in 24% of their mission statements. This involves the harmony of between mankind and the environment or harmony between the firm and its stakeholders. The maintenance of harmony is very important in the Chinese culture and business sector. Many of the mission statements include phrases that show the desire to improve society or provide citizens with a better life. Examples of this can be found in the following mission statements. State Grid (Beijing) Mission--"Ensure safer, more economical, cleaner and sustainable energy supply, promote healthier development, more harmonious society and better life." China Southern Power Grid (Guangzhou) Mission -"As a state-owned enterprise, CSG takes it as its mission to undertake the responsibility of protecting public interests and to take the lead to build a harmonious society." (Partial)

Finally, the term "diversity" appeared in the missions of the U.S. (4%) and France (8%). These firms acknowledged the importance of maintaining a diverse employee population. Although these are small numbers, it will be interesting to note if they increase in future years. This is similar to the concept of "safety" which appeared in missions only a few years ago. This goal has been increasing as organizations appreciate the importance of providing a safe workplace environment. The following section provides specific mission statement examples from each country that include numerous stakeholders and goals/objectives.

SPECIFIC EXAMPLES

From the United States, the mission statements of Proctor & Gamble (#22) and Kroger (#23) are excellent examples of the inclusion of multiple stakeholders and goals. In particular, the use of the term "community or communities" which has become very common in U.S. mission statements is noticeable in each.

Procter & Gamble

"We will provide branded products and services of superior quality and value that improve the lives of the world's consumers. As a result, consumers will reward us with leadership sales, profit, and value creation, allowing our people, our shareholders, and the communities in which we live and work to prosper."

Kroger

"OUR MISSION is to be a leader in the distribution and merchandising of food, health, personal care, and related consumable products and services. By achieving this objective, we will satisfy our responsibilities to shareowners, associates, customers, suppliers, and the communities we serve."

The Proctor & Gamble mission includes the goals of producing a quality product, maintaining leadership status, operating profitably, and creating value for customers. In addition, employees (our people), stockholders, communities where the firm operates are named stakeholders. Kroger also emphasizes a desire for leadership status in order to satisfy stockholders, employees, customers, suppliers, and the communities in which they operate. As a general observation, U.S. mission statements typically include a wider variety of named stakeholders and goals than the other four countries in the study.

Two good examples of mission statements from France include Vinci (#17) and Air France--KLM Group (#23). Many of the French statements were very brief and included only a few stakeholders and goals.

Vinci

"Our objective is overall performance. Our ambition is to create value for our customers and shareholders and for society as a whole."

Air France--KLM Group

"Air France-KLM intends to capitalize on technological innovation to become market leader for mobile and social networking applications. The Group is renewing its ambitious operational performance objectives for the benefit of its customers. The aim is to earn their preference through our service quality and our ability to manage irregularities effectively."

Vinci believes that efficient and effective operations are its primary goals. By achieving this ambition, Vinci believes that it will satisfy the needs of customers, shareholders, and society as a whole. Air France--KLM Group's objective is to utilize technological innovation to gain a leadership position. KLM Group also believes that quality service and efficient operations (which minimize irregularities) will aid it in providing customer satisfaction.

German examples include Daimler (#4) and Deutsche Bank (#13). Both of these missions include the desire to satisfy customer needs and wants (the Marketing Concept) in order to maintain continued success.

Daimler

"Our philosophy is clear: We give our best for our customers, who expect the best, and we live out a culture of excellence based on shared values. The history of our company is marked by innovations: These are the basis and stimulus for our claim to leadership in automotive production. It is our goal to successfully meet the challenges of future mobility. We intend to thereby create lasting value for our shareholders, customers, and employees, as well as for society as a whole."

Deutsche Bank

"We compete to be the leading global provider of financial solutions, creating lasting value for our clients, our shareholders, our people and the communities in which we operate."

Daimler feels that its company must do everything possible to provide the best product to its customers. Daimler also stresses innovation that allows it to maintain a leadership position in the automobile industry. Finally, the firm's mission states its intention of providing lasting value to stakeholders including stockholders, customers, employees, and society. Deutsche Bank's short mission also emphasizes the desire to provide value to customers, shareholders, employees, and related communities. Deutsche includes the desire to maintain a global leadership status in the financial services industry. This one sentence mission statement is very comprehensive given its brevity.

Two Japanese mission statements that include multiple stakeholders and goals are those of Toyota Motors (#1) and Toshiba (#10). These are two of the lengthier Japanese mission statements. Both of these companies emphasize the need for constant innovative technologies.

Toyota Motor

"Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile. We will meet challenging goals by engaging the talent and passion of people, who believe there is always a better way."

Toshiba (Tokyo)

"We endeavor to serve the needs of all people, especially our customers, shareholders, and employees, by implementing forward-looking corporate strategies while carrying out responsible and responsive business activities. As good corporate citizens, we actively contribute to further the goals of society. By continually developing innovative technologies centering on the fields of Electronics and Energy, we strive to create products and services that enhance human life, and which lead to a thriving, healthy society. We constantly seek new approaches that help realize the goals of the world community, including ways to improve the global environment."

In addition to constant innovation, Toyota also stresses the maintenance of quality, an emphasis on safety, and a concern for the environment. The company feels that these goals can be achieved by hiring competent and talented employees. Toshiba's mission is to meet the needs and wants of customers, shareholders, and employees. The firm also strives to produce products that improve society (world community) and the global environment. Both of these Japanese companies employ a very comprehensive mission statement.

Finally, two Chinese mission statements that include multiple stakeholders and goals are those of China National Petroleum (#3) and China Southern Power Grid (#12). As mentioned earlier, the concept of maintaining "harmony" is apparent in each of these missions.

China National Petroleum

"China National Petroleum Corporation (CNPC) is committed to 'Caring for Energy, Caring for You.' We strive for harmonious relationships between operations and safety, energy and the environment, corporate and community interests, and employers and employees. We are committed to protecting the environment and saving resources, promoting the research, development and application of environmentally friendly products, fulfilling our responsibilities to society and promoting development that benefits all."

China Southern Power Grid

"As a state-owned enterprise, CSG takes it as its mission to undertake the responsibility of protecting public interests and to take the lead to build a harmonious society. The company tries to optimize the regional allocation of resources, coordinate power generation, transmission and distribution, and provide customers with safe and reliable electricity, and to provide qualified services and create social wealth as well as environmental benefits for the society."

China National Petroleum provides details of the area where harmony is desired such as between production and safety, energy and the environment, corporate and community interests, and labor and management. This is an interesting concept whereby harmony must be maintained in multiple areas to satisfy the needs and wants of many stakeholders and ensure successful operations. A strong emphasis on protecting the environment and safeguarding resources is also apparent. China Southern Power Grid also emphasizes the goal of maintaining a harmonious society. Customer safety and protection of the environment are also goals of this organization.

These examples provide insight into what large organizations in these five countries consider to be their most critical goals/objectives. In addition, key stakeholders including customers, employees, and stockholders are specifically identified in many of these missions. A review of these mission statements provides insight into the most important stakeholder or goal/ objective. For example, in the U.S., the "community or communities" stakeholder has been growing in importance. Likewise, in China, the goal of improving "harmony or harmonization" has been increasingly included in current mission statements.

SUMMARY OBSERVATIONS

A review of the tables presented in this paper provides information to make a number of observations concerning the content of mission statements from the 25 largest firms in each of these five countries. It is important for business and educational professionals to be aware of what is important to these organizations from around the world. The analysis of the content of mission statements provides insight into what these firms consider to be most important to them both in terms of stakeholders and desired goals or objectives. The authors believe that the following observations are important in this global review of mission statements.

1. For U.S. firms, the term "community or communities" has become more commonly used in mission statements over the past ten years (Table 4). Concern for the improvement of communities where the firm operates is frequently included in mission statements. The other four countries very infrequently include this stakeholder (only 4% each).

2. Over the past decade, customers have been the most frequently mentioned stakeholder by a significant margin.

3. Support of ethical business practices and the desire to conduct business operations on a global scale have been increasingly included in U.S. mission statements since 2001. The increase emphasis on ethical behavior is, no doubt, related to the passage of the SarbanesOxley Act.

4. An international comparison of mission statements shows that customers are the most frequently listed stakeholder for each of these five countries (Table 5). Customers are most often mentioned in the mission statements of U.S. (64%) and Japanese (52%) firms.

5. Employees are most commonly included in the missions of Chinese firms (32%). The other four countries name employees in their missions much less often (8%-16%).

6. Firms in China (28%) and the U.S. (24%) mention stockholders in their missions more frequently than the other three countries. It is interesting to note that China identifies stockholders more often than any of the other four countries in the study.

7. The goal of conducting business operations on a global basis is, on average, the most frequently included objective of firms in these five countries. Global operations are in the top three goals list for each of these countries. For Japanese companies, it is the most commonly included goal.

8. For the U.S. (44%) and China (40%), the goal of producing a quality product or service that provides value to customers is the most frequently included objective. They are closely followed by Germany (36%) and Japan (28%). Only 12% of French firms include this goal.

9. Concern for the environment was included in 12% of the 2011 missions of each country except for the U.S. (4%). This is the lowest percentage for U.S. firms since the authors' studies began in 2001.

10. The U.S. (28%) included ethical behavior in company missions most often closely followed by China (24%). Ethical operations were less of a priority for France (16%), Japan (12%), and Germany (4%).

11. Maintaining a leadership position in the industry was stressed in the missions of France (44%) and Germany (36%). This concept was included in significantly fewer mission statements of the U.S. (20%), Japan (12%), and China (12%).

12. The goal of growing or expanding the organization was included in 20% of the missions in France and China. Growth was included in 16% of German missions and 8% of Japanese statements. None of the U.S. firms' missions incorporated this concept.

13. Finally, the goal of increasing "harmony" or improving "harmonization" was unique to Chinese mission statements. Chinese missions included this concept in 24% of the missions. Phrases such as "harmonious corporation" and "harmonious society" are fairly common in these missions.

There are many other comments that could be made when doing a comparison of the mission statements of these five countries but the authors feel that these are the significant ones. It is interesting to note that large corporations in each of these countries realize that the firms' customers are their most important stakeholder. Customers are mentioned in more mission statements than any other stakeholder including employees, stockholders, communities, and suppliers. Closely related to this is the fact that overall the most commonly stated goals were the production of a quality product or service and providing that product or service on a global basis. The authors plan to continue their examination of mission statements in future years to discover evolving similarities and differences among countries from around the world.

APPENDIX

Top 25 U.S. Companies and their mission statements (as ranked by Fortune 500)

1. Wal-Mart Stores

"Wal-Mart's mission is to help people save money so they can live better."

2. Exxon Mobil

"Exxon Mobil Corporation is committed to being the world's premier petroleum and petrochemical company. To that end, we must continuously achieve superior financial and operating results while adhering to the highest standards of business conduct. These unwavering expectations provide the foundation for our commitments to those with whom we interact."

3. Chevron

"Our Company's foundation is built on our Values, which distinguish us and guide our actions. We conduct our business in a socially responsible and ethical manner. We respect the law, support universal human rights, protect the environment, and benefit the communities where we work."

4. General Electric

"Passionate, Curious, Resourceful, Accountable, Teamwork, Committed, Open, Energizing, Always With Unyielding Integrity."

5. Bank of America Corp.

"We believe, very simply, that it is the actions of individuals working together that build strong communities ... and that business has an obligation to support those actions in the communities it serves."

6. ConocoPhillips

"Use our pioneering spirit to responsibly deliver energy to the world."

7. AT&T

"We aspire to be the most admired and valuable company in the world. Our goal is to enrich our customers' personal lives and to make their businesses more successful by bringing to market exciting and useful communications services, building shareowner value in the process."

8. Ford Motor

"We are a global family with a proud heritage passionately committed to providing personal mobility for people around the world."

9. J.P. Morgan Chase & Co.

"At JPMorgan Chase, we want to be the best financial services company in the world. Because of our great heritage and excellent platform, we believe this is within our reach."

10. Hewlett-Packard

"To provide products, services and solutions of the highest quality and deliver more value to our customers that earns their respect and loyalty."

11. Berkshire Hathaway- None published.

12. Citigroup

"Citigroup Inc. ("Citi") recognizes that foreclosures affect the individual, the family and the community. We also understand that early intervention and a full understanding of the available options are important for mitigating or minimizing the impact of foreclosures.

Citi's Office of Homeownership Preservation (OHP) is dedicated to finding solutions that preserve homeownership and help mitigate the challenges faced by borrowers. We work directly with borrowers at risk of losing their homes. We also work with any and all stakeholders who advocate on behalf of borrowers, including non-profit organizations, elected officials, government agencies, regulators and others. Our strong partnerships with these stakeholders help us to develop and implement homeownership preservation solutions and enable us to magnify our outreach and assistance to borrowers. For example, OHP's hotline for housing counselors greatly enhances their ability to work with us on behalf of our borrowers. And our borrower and counselor outreach programs, which we conduct in collaboration with partners in numerous locations around the U.S., bring help directly to at-risk communities."

13. Verizon Communications

"Verizon's commitment to top quality service is well known. Verizon is the pre-eminent service provider in the industry. Our legacy of customer service--bolstered by the nation's largest and most reliable network--is unparalleled. And, we continue to make strong progress in delivering on our promise to be the nation's best provider of quality local, data and long distance services."

14. McKesson

"Our mission is to provide comprehensive pharmacy solutions that improve productivity, profitability and result in superior patient care and satisfaction."

15. General Motors

"G.M. is a multinational corporation engaged in socially responsible operations, worldwide. It is dedicated to provide products and services of such quality that our customers will receive superior value while our employees and business partners will share in our success and our stock-holders will receive a sustained superior return on their investment."

16. American International Group

"As a global financial services organization, we have committed our resources to developing products and services that address the needs of our clients as well as promote a corporate culture that values integrity, diversity, innovation and excellence."

17. Cardinal Health

"We consider the highest standards of personal and professional ethics as the cornerstone of trust among our customers and ourselves. We deliver on the commitments we make. We recognize our obligation to the communities where we live and work. We hold ourselves accountable not only for what we achieve but how we achieve it."

18. CVS Caremark

"Above all else ... our mission is to improve the lives of those we serve by making innovative and high-quality health and pharmacy services safe, affordable and easy to access."

19. Wells Fargo

"Our product: SERVICE. Our value-added: FINANCIAL ADVICE. Our competitive advantage: OUR PEOPLE."

20. International Business Machines

"At IBM, we strive to lead in the invention, development and manufacture of the industry's most advanced information technologies, including computer systems, software, storage systems and microelectronics. We translate these advanced technologies into value for our customers through our professional solutions, services and consulting businesses worldwide."

21. UnitedHealth Group

"Our mission is to help people live healthier lives. We seek to enhance the performance of the health system and improve the overall health and well-being of the people we serve and their communities. We work with health care professionals and other key partners to expand access to high quality health care so people get the care they need at an affordable price. We support the physician/patient relationship and empower people with the information, guidance and tools they need to make personal health choices and decisions."

22. Procter & Gamble

"We will provide branded products and services of superior quality and value that improve the lives of the world's consumers. As a result, consumers will reward us with leadership sales, profit, and value creation, allowing our people, our shareholders, and the communities in which we live and work to prosper."

23. Kroger

"OUR MISSION is to be a leader in the distribution and merchandising of food, health, personal care, and related consumable products and services. By achieving this objective, we will satisfy our responsibilities to shareowners, associates, customers, suppliers, and the communities we serve."

24. AmerisourceBergen

"To build shareholder value by delivering pharmaceutical and healthcare products, services and solutions in innovative and cost effective ways. We will realize this mission by setting the highest standards in service, reliability, safety and cost containment in our industry."

25. Costco Wholesale

"To continually provide our members with quality goods and services at the lowest possible prices."

France-Top 25 Companies and their mission statements (as ranked by Fortune 500)

1. AXA (Paris)

"We are working toward the shared ambition of attaining leadership in our core Financial Protection business, through the quality of our products and services as well as through superior performance."

2. Total (Courbevoie)

"Total's strategy, the implementation of which is based on a model for sustainable growth combining the acceptability of operations with a sustained, profitable investment program, aims at: Expanding hydrocarbon exploration and production activities throughout the world, and strengthening its position as one of the global leaders in the natural gas and LNG markets.

* Progressively expanding Total's energy offerings and developing complementary next generation energy activities (solar, biomass, nuclear).

* Adapting its refining system to market changes and consolidating its position in the marketing segment in Europe, while expanding its positions in the Mediterranean basin, Africa and Asia.

* Developing its chemicals activities, particularly in Asia and the Middle East, while improving the competitiveness of its operations in mature areas; and

* Pursuing research and development to develop "clean" sources of energy, contributing to the moderation of the demand for energy, and participating in the effort against climate change."

3. BNP Paribas (Paris)

"In all its core businesses, BNP Paribas is determined to be a benchmark banking group, focusing on customer satisfaction and actively pursuing the improvement of its earning capacity."

4. Carrefour (Levallois-Perret)

"The Carrefour group has one simple ambition: making Carrefour the preferred retailer wherever it operates."

5. GDF Suez (Paris)

"GDF SUEZ employees have contributed to the establishment of the Group's four core values:

* drive--to guarantee performance over the long term for all stakeholders,

* commitment--to associate the Group's development with respect for the planet,

* daring--to live in the present with optimism while preparing for the future with creativity,

* cohesion--to make energy and the environment sustainable sources of progress and development."

6. Credit Agricole (Paris)

"Credit Agricole intends to fulfil its role as a leading European player with global scale, while complying with the commitments that stem from its mutualist background. Its development is committed to responsible growth, focused on servicing the real economy."

7. Electricite de France (Paris) *No English version.

8. Societe Generale (Paris) * No English version.

9. Groupe BPCE (Paris)

"Our business is founded on trust, our customers entrust us with their savings, which we plough back into economic development in the form of loans. The way to earn this trust and make it grow is quite straightforward: we must simply do our job as bankers, do it well, and do nothing but the business of banking. More accessible, more entrepreneurial, more efficient, we will then become the banking institutions most preferred by the French and their companies."

10. Peugeot (Paris)

"To be a step ahead in pioneering vehicles and services.

To be a global player.

To be an industry benchmark for operational efficiency.

To develop responsibly."

11. CNP Assurances (Paris)

"Strong risk discipline, to ensure that we are able to fulfil our long-term commitments to the insured, with an asset/liability management system introduced some fifteen years ago and regularly enhanced ever since."

* Profitability, which means applying strategies that generate a satisfactory return for policyholders and shareholders and smooth investment yields over time.

* Compliance with the highest ethical standards.

12. France Telecom (Paris)

"Commitment to bringing the digital universe to the largest possible number of people, creating a powerful and differentiating asset that unifies the image of the enterprise around the world."

13. Groupe Auchan (Croix)

"To improve the purchasing power and the quality of life of the greatest number of customers, with responsible, professional, committed and respected employees. This is based on 3 values: trust, sharing and progress."

14. Saint-Gobain (Courbevoie)

"We are constantly innovating to make homes more comfortable, cost-efficient and sustainable worldwide."

15. Veolia Environnement (Paris)

"As a world leader in environmental solutions, Veolia Environnement seeks to set the standard in sustainable development."

16. Renault (Boulogne-Billancourt)

"Drive the Change- to make sustainable mobility accessible to all."

17. Vinci (Rueil-Malmaison)

"Our objective is overall performance. Our ambition is to create value for our customers and shareholders and for society as a whole."

18. Bouygues (Paris)

"Relying on the diversity of its businesses, Bouygues will continue its strategy of long-term growth in 2011."

19. Sanofi-Aventis (Paris)

"Our ambition is to become a diversified global healthcare leader. Our strategy is built around three priorities to reach its goals and ensure sustainable growth:"

* Innovation in Research and Development

* Adaptation of Group structures

* External growth opportunities

20. Fonciere Euris (Paris) * No English version.

21. Vivendi (Paris)

"To strengthen its leadership position in digital entertainment by producing and distributing content and services particularly in high-growth countries."

22. SNCF (Paris)

"Mission-long distance and high-speed rail passenger transport."

23. Air France-KLM Group (Roissy)

"Air France-KLM intends to capitalize on technological innovation to become market leader for mobile and social networking applications. The Group is renewing its ambitious operational performance objectives for the benefit of its customers. The aim is to earn their preference through our service quality and our ability to manage irregularities effectively."

24. La Poste (Paris)

"To be a real partner to each of our clients by providing a wide range of solutions, highly accessible products and services and adopting a professional approach."

25. Alstom (Levallois-Perret)

"Alstom commits to providing market leading power, transmission and transport products, systems and services to communities across the globe in a responsible and sustainable way."

Germany-Top 25 Companies and their mission statements (as ranked by Fortune 500)

1. Volkswagen (Wolfsburg)

"It is the goal of the Group to offer attractive, safe and environmentally sound vehicles which are competitive on an increasingly tough market and which set world standards in their respective classes."

2. Allianz (Munich)

"We want to contribute to creating a positive future for our business and society through combining long-term economic value, environmental stewardship, and social responsibility. We aim to do this through all our business processes, policies, and products."

3. E.ON (Dusseldorf)

"We're committed to providing cleaner & better energy. This pair of terms aims to make clear that we're convinced that affordability, supply security, and climate protection are mutually compatible elements of a corporate strategy, even in tougher economic times. We purposely chose the comparative form because this isn't about defining absolute metrics or uniform targets for all parts of the world but rather about continual improvement processes. In this sense, our products and services are cleaner if they substantially improve energy quality in terms of environmental protection and competitiveness. Our energy is better if we only engage in activities in which we can sustain a significant competitive advantage and offer superior products and services to our customers."

4. Daimler (Stuttgart)

"Our philosophy is clear: We give our best for our customers, who expect the best, and we live out a culture of excellence based on shared values. The history of our company is marked by innovations: These are the basis and stimulus for our claim to leadership in automotive production. It is our goal to successfully meet the challenges of future mobility. We intend to thereby create lasting value for our shareholders, customers, and employees, as well as for society as a whole."

5. Siemens (Munich)

"Siemens is the pioneer in energy efficiency, industrial productivity, affordable and personalized healthcare systems, and intelligent infrastructure solutions. Our strategy is derived from this vision: to constantly tap new markets with innovative products and solutions."

6. Metro (Dusseldorf)

"Metro Group's goal is to provide for the long-term appreciation of its corporate value through profitable and sustained growth. Maximum customer orientation, strategic expansion, the sales divisions' positioning and efficient processes create the foundation for this."

7. Deutsche Telekom (Bonn)

"Fix--Transform--Innovate!"

8. Munich Re Group (Munich)

"Our aim is sustained profitable growth. Our hallmarks are innovation, solidity and client focus. We put quality before quantity, enabling us to achieve profitable, long-term growth. Thanks to this long-term and far-sighted strategy, the Group has fared well in a difficult capital market environment."

9. BASF (Ludwigshafen)

"Our goal is to remain the world's leading chemical company."

10. BMW (Munich)

"The strategic objective is clearly defined: The BMW Group is the leading provider of premium products and premium services for individual mobility."

11. Deutsche Post (Bonn)

"Deutsche Post is the postal service for Germany. By making solutions even more simple, products even more sustainable and customer service even more friendly, the company intends to maintain its brand position and grow ever further by offering totally new ideas for online communications."

12. Rwe (Essen)

"The company's declared aim is to expand the electricity and gas business while reducing its own CO2 emissions."

13. Deutsche Bank (Frankfurt)

"We compete to be the leading global provider of financial solutions, creating lasting value for our clients, our shareholders, our people and the communities in which we operate."

14. ThyssenKrupp (Dusseldorf)

"We want to develop products and services for our customers that offer high energy and resource efficiency and for this we also focus on optimizing our own processes."

15. Robert Bosch (Stuttgart)

"Our ambition is to enhance the quality of life with solutions that are both innovative and beneficial."

16. Bayer (Leverkusen)

"Our mission "Bayer: Science For A Better Life." Our focus on innovation is the key to maintaining or gaining a leading position in every market in which we operate. It is also the foundation for improving the lives of many millions of people."

17. Deutsche Bahn (Berlin)

"The DB Group's common vision that "we will be the world's leading mobility and logistics company" creates clarity for employees, customers and owners in terms of where our journey is leading us and allows us to utilise our strategic resources in a targeted fashion."

18. DZ BANK (Frankfurt)

"Our objective is to offer relevant products, exemplary services and efficient processes--and thereby develop ourselves into a leading pan-European Allfinanz-Group."

19. Commerzbank (Frankfurt)

"The satisfaction of our customers is at the heart of all our activities. Commerzbank is unreservedly committed to customer satisfaction, and it is by this criterion that our success is measured."

20. Franz Haniel (Duisburg)

"Our goal is to achieve growth rates significantly above the market level--over a period of years."

21. Lufthansa Group (Cologne)

"Foremost at Lufthansa are such attributes as quality and innovation, safety and reliability. We are well positioned strategically, operationally and financially to negotiate ups-and-downs in the economy. Our corporate strategy is geared to sustainable value creation and is expressed in our commitment to shareholder value. We attach priority to profitability over size."

22. Landesbank Baden-Wurttemberg (Stuttgart)

"The aim of LBBW is to consolidate its position as a partner of SMEs in the regional core markets of its retail banks by deploying its market knowledge and enhancing its customer proximity and thereby also to secure the future provision of lending to the economy. To this end LBBW continues to see itself as a principal bank in the best sense of the word."

23. Edeka Zentrale (Hamburg)-*No English version.

24. Continental (Hanover)

"In the interests of the entire corporation and our stakeholders, we will pursue every opportunity to create value."

25. KfW Bankengruppe (Frankfurt)

"KfW has many tasks. As a promotional bank, KfW Bankengruppe supports change and encourages forward-looking ideas--in Germany, Europe and throughout the world."

Japan-Top 25 Companies and their mission statements (as ranked by Fortune 500)

1. Toyota Motor (Toyota)

"Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile. We will meet challenging goals by engaging the talent and passion of people, who believe there is always a better way."

2. Japan Post Holdings (Tokyo)

"Giving stress on security and confidence that Japan Post, as a public organization, has fostered, the Group, as a private corporation, will demonstrate creativity and efficiency to the greatest extend possible, meet customers' expectations, raise customer satisfaction, and grow together with customers. The Group will also pursue managerial transparency on its own, observe rules, and contribute to the development of society and region."

3. Nippon Telegraph & Telephone (Tokyo)

"The NTT Group will further migrate reforms of its business structure mainly in the IP and Solution & New businesses, strive to reinforce its competitive edge and enhance corporate value, contribute to Japan's economic growth and solve social and global issues."

4. Hitachi (Tokyo)

"We will always breathe new life into the next era under a corporate statement "Inspire the Next," aiming at becoming a vigorous company that continuously grows in the 21st century and contributes to prosperous and comfortable society."

5. Honda Motor (Tokyo)

"We see it as our responsibility to serve humanity through our global commitments to helping protect the environment and enhancing safety in a mobile society. In every endeavor we pursue, we strive to be a company that people all over the world want to exist."

6. Nissan Motor (Yokohama)

"Nissan provides unique and innovative automotive products and services that deliver superior measurable values to all stakeholders in alliance with Renault."

7. Panasonic (Osaka)

"Panasonic aims to be the No.1 Green Innovation Company."

8. Sony (Tokyo)

"Sony is committed to developing a wide range of innovative products and multimedia services that challenge the way consumers access and enjoy digital entertainment. By ensuring synergy between businesses within the organization, Sony is constantly striving to create exciting new worlds of entertainment that can be experienced on a variety of different products."

9. Nippon Life Insurance (Osaka)

"To Be a Company that Customers Continue to Trust and Choose."

10. Toshiba (Tokyo)

"We endeavor to serve the needs of all people, especially our customers, shareholders, and employees, by implementing forward-looking corporate strategies while carrying out responsible and responsive business activities. As good corporate citizens, we actively contribute to further the goals of society. By continually developing innovative technologies centering on the fields of Electronics and Energy, we strive to create products and services that enhance human life, and which lead to a thriving, healthy society. We constantly seek new approaches that help realize the goals of the world community, including ways to improve the global environment."

11. Dai-ichi Life Insurance (Tokyo)

"Our aim is to improve our quality to the point at which we have the highest reputation with customers."

12. Seven & I Holdings (Tokyo)

"In the future, we will devote our efforts to product development and to establishing Seven & I brands worldwide by sharing business infrastructures with group companies."

13. Mitsubishi UFJ Financial (Tokyo)

"We aim to be No. 1 in service, No.1 in reliability, and No.1 in global coverage and so gain the strong support of customers and society as a premier, comprehensive, global financial group."

14. AEON (Chiba)

"At AEON, our eternal mission as a corporate group is to benefit our customers, and our operations are thus customer-focused to the highest degree."

15. Tokyo Electric Power (Tokyo)

"The actualization of the four commitments has been adopted as our social mission:

1. Promoting disclosure of information and ensuring transparency of nuclear operations

2. Creating a work environment where proper operations can be carried out

3. Strengthening internal surveillance and reforming our corporate culture

4. Promoting observance of corporate ethics."

16. JX Holdings (Tokyo)

"JX Group will contribute to the development of a sustainable economy and society through innovation in the areas of energy, resources and materials."

17. Fujitsu (Tokyo)

"Through our constant pursuit of innovation, the Fujitsu Group aims to contribute to creation of a networked society that is rewarding and secure, bringing about a prosperous future that fulfills the dreams of people throughout the world."

18. Mitsubishi (Tokyo)

"MC seeks to contribute to the enrichment of society through business firmly rooted in principles of fairness and integrity."

19. Meiji Yasuda Life Insurance (Tokyo) * No English version.

20. Mitsui (Tokyo)

"Strive to contribute to the creation of a future where the aspirations of the people can be fulfilled."

21. Sumitomo Life Insurance (Osaka) *No English version.

22. NEC (Tokyo)

"NEC strives through "C&C" to help advance societies worldwide toward deepened mutual understanding and the fulfillment of human potential."

23. Tokio Marine Holdings (Tokyo)

"With customer trust as the foundation for all its activities, Tokio Marine Group continually strives to raise corporate value."

24. Nippon Steel (Tokyo)

"Nippon Steel Group, focused on steel manufacturing, will contribute to industrial development and the enhancement of peoples' lives through creating and supplying valuable and attractive products and ideas."

25. KDDI (Tokyo)

"We are committed to an uncompromising quest for: Customer Satisfaction-by providing with our services the value that customers expect:

* A Happy Workforce-by continuing to be the kind of dynamic company that inspires all its employees with a sense of worth and fulfillment;

* The Confidence of Our Shareholders-by justifying the trust placed in us by our shareholders, business associates and all with whom we have dealings;

* The Advancement of the International Community-by bringing an ever broadening array of communications to bear in serving the development of the global community."

China-Top 25 Companies and their mission statements (as ranked by Fortune 500)

1. Sinopec (Beijing)

"Develop the enterprise, Contribute to the country, Reward our shareholders, Serve the society and Benefit our staff -to respect and protect the interests of stakeholders."

2. State Grid (Beijing)

"Ensure safer, more economical, cleaner and sustainable energy supply, promote healthier development, more harmonious society and better life."

3. China National Petroleum (Beijing)

"China National Petroleum Corporation (CNPC) is committed to "Caring for Energy, Caring for You." We strive for harmonious relationships between operations and safety, energy and the environment, corporate and community interests, and employers and employees. We are committed to protecting the environment and saving resources, promoting the research, development and application of environmentally friendly products, fulfilling our responsibilities to society and promoting development that benefits all."

4. China Mobile Communications (Beijing)

"Our goal has always been to enhance our corporate value, maintain our sustainable long-term development and generate greater returns for our shareholders. In order to better achieve the above objectives, we have established good corporate governance practices following the principles of sincerity, transparency, openness and efficiency, and have implemented sound governance structure and measures."

5. Industrial & Commercial Bank of China (Beijing)

"While China keeps its economy humming by adhering to the state's policy of "sustain growth momentum, effect structural adjustment, bolster reform, benefit people's livelihood," ICBC has been a main force helping engineer the first turnaround in China's economy by strengthening the connection of the credit policy with state policy of expanding internal consumption and industrial policy."

6. China Construction Bank (Beijing)

"We seek to become a world-class bank by providing the best service to our customers, maximizing shareholder value and providing excellent career opportunities to our employees."

7. China Life Insurance (Beijing)

"China Life endeavors to implement a conglomeration strategy of "rational resource allocation, clear comprehensive advantages, strong core businesses, appropriately diversified operations, high social respect and peer acknowledgement, high imbedded value, strong core competitiveness and forceful and sustainable growth. It is our goal to build China Life into a world-class financial and insurance group with "strong capital resources, advanced corporate governance, well-established management system, stringent internal control, leading technologies, first-class team, superior service, outstanding brand, and harmonious development."

8. China Railway Construction (Beijing)

"To actively fulfill our social responsibilities and dedicate ourselves to provide quality products and services, and always in accordance with the requirements of General Secretary Hu Jintao turn CRCC into an "internationally competitive large enterprise group" to create "a century CRCC" so as to promote sound and fast economic and social development."

9. China Railway Group (Beijing)

"Stick to scientific development; build up a harmonious corporation; create enterprise value."

10. Agricultural Bank of China (Beijing)

"Following the core value of "honesty and prudence" and the business philosophy of "customer priority," the Bank provides customers with diversified, superior and efficient financial services by leveraging urban and rural presence and extensive electronic network."

11. Bank of China (Beijing)

"To be a leading international bank, delivering growth and excellence."

12. China Southern Power Grid (Guangzhou)

"As a state-owned enterprise, CSG takes it as its mission to undertake the responsibility of protecting public interests and to take the lead to build a harmonious society. The company tries to optimize the regional allocation of resources, coordinate power generation, transmission and distribution, and provide customers with safe and reliable electricity, and to provide qualified services and create social wealth as well as environmental benefits for the society."

13. Dongfeng Moor (Wuhan)

"Becoming the No.1 in China, internationally weighted auto maker in the world with convincing profit rate, sustainable development and constant value returning to shareholders, customers, employees and society."

14. China State Construction Engineering (Beijing)

"We seek a maximum profit by fair and square."

15. Sinochem Group (Beijing)

"Honest, Cooperative, Open to Learn, Diligent, Innovative and Pursuing Excellence. Sinochem endeavors to create a healthy and progressive corporate culture and bring more value for our nation, our clients and our employees. Our ultimate goal is to build up a respectable and great company with global standing."

16. China Telecommunications (Beijing)

"Corporate Mission: Let the customer fully enjoy the new information life. Strategic Goal: Be a world-class integrated information service provider."

17. Shanghai Automotive (Shanghai)

"For the satisfaction of our customers, For the interest of our shareholders, For the harmony of our society, We will build SAIC into an automotive company with outstanding brands, brilliant employees, core competitive competencies and international operation capabilities."

18. China Communications Construction (Beijing)

"Trustworthy service to clients, High quality returns to shareholders and Consistent out-performance."

19. Noble Group (Hong Kong)

"Our success is powered by our dynamism, agility and execution, in an organization that is constantly on the move. We identify opportunities, work fast, deliver results, grow and change. Our days are busy and interesting, no two are alike. We will continue to surpass our own goals."

20. China National Offshore Oil (Beijing)

"Guided by the corporate values of "Win-win, Responsibility, Integrity, Innovation, Human-oriented," during the Eleventh Five-year Plan period, CNOOC will continue its focus on scientific growth, synergetic and cost efficient development, cultivation of a strong workforce, and competitiveness in research and development. Through sustainable growth and innovation, the Company aims to become a world-class international energy company."

21. Citic Group (Beijing)

"Be bold in making innovations and strive to make more contributions."

22. China FAW Group (Changchun)

"We endeavor to evolve today's dreams into tomorrow's reality."

23. China South Industries Group (Beijing)

"Army protection and allegiance to country, strengthening enterprise and enriching people.

Army protection is the divine mission endowed by the country and the root of position establishment. Allegiance to country is an obligatory social obligation and the root of responsibility. Strengthening enterprise is an essential requirement of sustainable development and the root of development. Enriching people is to provide excellent service to the mass and the root of value."

24. Baosteel Group (Shanghai)

"As a state-owned super large central enterprise, Baosteel must realize value retaining and increment of the state-owned assets, and fulfill the tasks assigned by the state excellently. Baosteel's value should reflect in creating values for the customers and suppliers and realizing win-win through cooperations. Baosteel vows to become the example for common development of employees and enterprise, and Baosteel's value should reflect in creating values for the employees. In the meantime, enterprises are also social citizens. Baosteel should take the initiative in undertaking its due social responsibility and exerting itself to create values for the shareholders of the listed company and the society. The pursuit of corporate value maximization is in essence the responsibility of Baosteel and Baosteel employees."

25. Hutchison Whampoa (Hong Kong)

"Hutchison has a strong commitment to the highest standards of corporate governance, transparency and accountability."

REFERENCES

Abrahams, J. (1999). The Mission Statement Book: 301 Corporate Mission Statements from America's Top Companies. Berkeley, CA: Ten Speed Press.

Certo, S.C. and S.T. (2012). Modern Management: Concepts and Skills (Twelfth Edition). Upper Saddle River, NJ: Pearson Prentice Hall.

David, F.R. (2005). Strategic Management: Concepts and Cases (Tenth Edition). Upper Saddle River, NJ: Pearson Prentice Hall.

David, F.R. (2009). Strategic Management: Concepts and Cases (Twelfth Edition). Upper Saddle River, NJ: Pearson Prentice Hall.

Drucker, P. (1974). Management: Tasks, Responsibilities, and Practices. New York, NY: Harper & Roe.

Hitt, M.A., Black, J.S. & Porter, L.W. (2012). Management (Third Edition). Upper Saddle River, NJ: Pearson Prentice Hall.

King, D.L. (2001). Mission Statement Content Analysis. Academy of Managerial Communications Journal, 5(1,2), 75-100.

King, D.L., Case C.J. & K.M. Premo (2010). Current Mission Statement Emphasis: Be Ethical and Go Global. Academy of Strategic Management Journal, 9(2), 73-89.

King, D.L., Case C.J. & K.M. Premo (2011). A Mission Statement Analysis Comparing the United States and Three Other English Speaking Countries. Academy of Strategic Management Journal, 10, 21-46.

McKee, A. (2012). Management: A Focus on Leaders. Upper Saddle River, NJ: Pearson Prentice Hall.

Rarick, C. and J. Vitton (1995). Mission Statements Make Sense. Journal of Business Strategy, 1, 11-12.

Darwin L. King, St. Bonaventure University

Carl J. Case, St. Bonaventure University

Kathleen M. Premo, St. Bonaventure University

Table 1 2001 FORTUNE 100--MISSION STATEMENTS THAT INCLUDED

Stakeholders Percent Goal/Objective Percent

Customers 61 Quality 25
Stockholders 34 Core Values 25
Employees 21 Leadership 17
Competitors 9 Global 15
Suppliers 6 Technology 14
Governments 2 Environmental 9
Communities 6 Profits 6
 Ethics 3

Table 2 2008 FORTUNE TOP 50--MISSION STATEMENTS THAT INCLUDED

Stakeholders Percent Goal/Objective Percent

Customers 31 Quality 26
Employees 17 Global 17
Communities 15 Ethics 15
Stockholders 14 Environmental 8
Core Values 7 Leadership 7
Suppliers 5 Profits 6
Government/Laws 2 Technology 1

Table 3 PERCENTAGES OF U.S. MISSION
STATEMENTS CONTAINING THE FOLLOWING WORDS

Stakeholders 2001 Study 2008 Study

Communities 6% 30%
Competitors 9% 0%
Customers 61% 62%
Employees 21% 34%
Govt./Law 2% 4%
Stockholders 34% 28%
Suppliers 6% 10%

Goal/Objective

Core Values 25% 14%
Environmental 9% 16%
Ethics 3% 30%
Global 15% 34%
Leadership 17% 14%
Profits 6% 12%
Quality/Value 25% 52%
Technology 14% 2%

Table 4
PERCENTAGES OF U.S. MISSION STATEMENTS CONTAINING THE FOLLOWING WORDS

Stakeholders 2001 Study 2008 Study 2010 Study 2011 Study

Communities 6% 30% 40% 28%
Competitors 9% 0% 0% 0%
Customers 61% 62% 68% 64%
Employees 21% 34% 24% 16%
Govt./Law 2% 4% 8% 0%
Stockholders 34% 28% 28% 24%
Suppliers 6% 10% 12% 8%

Goal/Objective
Core Values 25% 14% 8% 8%
Environmental 9% 16% 8% 4%
Ethics 3% 30% 28% 28%
Global 15% 34% 32% 28%
Leadership 17% 14% 20% 20%
Profits 6% 12% 16% 16%
Quality/Value 25% 52% 56% 44%
Technology 14% 2% 0% 0%

Table 5
PERCENTAGES OF MISSION STATEMENTS INCLUDING THE FOLLOWING TERMS BY
COUNTRY

Stakeholders Mentioned U.S. France Germany Japan China

Communities/Community 28% 4% 4% 4% 4%
Customers 64% 40% 44% 52% 40%
Employees 16% 8% 12% 12% 32%
Stockholders/Stakeholders 24% 12% 20% 12% 28%
Suppliers 8% 0% 0% 0% 4%

Goal/Objective Mentioned
Core Values 8% 4% 4% 0% 20%
Efficient/Effective 4% 16% 12% 4% 8%
Environment/Earth Friendly 4% 12% 12% 12% 12%
Ethics/Ethical Operations 28% 16% 4% 12% 24%
Global/Worldwide 28% 40% 24% 36% 36%
Growth/Expansions 0% 20% 16% 8% 20%
Innovation 16% 12% 36% 28% 16%
Leader/Leadership 20% 44% 36% 12% 12%
Profits/Profitability 16% 20% 12% 0% 12%
Quality/Value/Service 44% 12% 36% 28% 40%
Safety/Safe Product 8% 0% 0% 8% 12%
Trust 4% 8% 0% 12% 0%

Table 6 STAKEHOLDER RANKINGS BY FREQUENCY

 United States France Germany

1. Customers Customers Customers
2. Stockholders Stockholders Stockholders
3. Employees Employees Employees

 Japan China

1. Customers Customers
2. Stockholders Employees
3. Employees Stockholders

Table 7 GOALS/OBJECTIVES RANKINGS BY FREQUENCY

United States France Germany Japan China

Quality Leadership Innovation, Global Quality
 Leadership,
 Quality

Ethics, Global Global Innovation, Global
Global Quality

Leadership Growth, Growth Environment, Ethics
 Profits Ethics

 Leadership,
 Trust