A mission statement analysis comparing the United States and three other English speaking countries.
King, Darwin L. ; Case, Carl J. ; Premo, Kathleen M. 等
INTRODUCTION
Now, more than ever, 21st century business enterprises realize the
importance of a clear, succinct mission statement to support successful
operations. Mission statements serve to communicate vital information to
all stakeholders interested in a business organization. Mission
statements are normally fairly short with very few that exceed one or
two paragraphs. These vital business communication tools must accomplish
a number of goals including stating the firm's purpose, unique
qualities, values, and basic goals/objectives.
Peter Drucker stated that firms need to develop a mission statement
that answers the questions "What is our business?" and
"What do we want to become?" in order to effectively manage
current and future operations (Drucker, 1974). Effective long range
strategic planning requires an accurate answer to these questions by the
firms' management. Unless the basic concepts upon which a business
has been built are visible, clearly understood, and explicitly
expressed, the business enterprise is at the mercy of events (Drucker,
1974).
Thus, the mission statement acts as a guide; top managers must
think through and articulate the nature of the business so that
employees throughout the organization, and in conjunction with the
organization's other stakeholders, act with direction and unison in
pursuing decisions that provide direction toward compatible goals. The
largest business organizations must be especially dedicated to
publishing accurate mission and vision statements because they will be
analyzed by millions of various stakeholders.
Drucker points out that the firm's business purpose and
business mission are rarely given adequate thought and consideration. He
feels that this omission is perhaps the most important single cause of
business frustration and business failure (Drucker, 1974). The rush to
splice words together to arrive at a "so-called" mission
statement may be problematic for some firms but this may indeed be
changing. Today, many American businesses have reached the point where
mission statements no longer stand as hollow, decorative statements of
purpose.
Fred David argues that a mission statement is a declaration of an
organization's "reason for being" (David, 2009). David
also argues that a complete mission statement must provide a wealth of
information for the wide variety of stakeholders. He feels that an
effective and efficient mission statement must define an
organization's target market customer group(s), its products or
services produced, the markets served, technology employed, and the
firm's concern for survival, growth, employees, profitability, and
the environment (David, 2009).
David believes that these factors should be utilized to create and
evaluate mission statements. Using this process, he feels that the firm
will be proactive in the creation of an effective mission statement. A
number of authors, including David, believe that many organizations use
a reactive (rather than proactive) approach in the development of a
mission statement. The reactive method describes firms that create
mission and vision statements only after the firms have experienced
financial difficulties (David, 2009). He feels that the development of
mission and vision statements in time of crisis is representative of
irresponsible management behavior. David also states that any
organization that fails to develop a comprehensive and inspiring mission
statement loses the opportunity to present itself favorably to existing
and potential stakeholders including shareholders, creditors, vendors,
and employees (David, 2009).
Research conducted by Verma found that significant numbers of
stakeholders are now aware of and understand their mission statement.
(Verma, 2010). To truly approach the importance of the final product
(mission statement), top management must use judgment and serious
reflection in creating a statement that appropriately identifies
critical stakeholders, goals, and objectives. Verma pointed out that
mission statements assume importance in creating conditions for laying
the structural mechanism whereby deviations (to the mission statement)
are automatically detected and corrected (Verma, 2010).
One common misconception concerning mission statements is that a
carefully constructed statement, once prepared, will fulfill the
firm's needs and be the guiding light spanning the entire life of
the organization. Because the current business environment is especially
dynamic, Drucker estimates that mission statements may be good for only
ten years when a revision would typically be appropriate (Drucker,
1974). Other writers caution that managers must be careful to regularly
modify the mission statement to reflect changes in the business
environment. Once an organization has a time sensitive and effective
mission statement in place, top management can use this as a guide in
making influential decisions across the organization.
PREVIOUS MISSION STATEMENT RESEARCH
This paper continues the mission statement research that was begun
by the authors nearly ten years ago. The authors have previously
published two mission statement articles in the Academy of Managerial
Communications Journal (King, 2001) and the Academy of Strategic
Management Journal (King, Case & Premo, forthcoming, 2010). The 2001
study reviewed the top Fortune 100 firms in the United States. Table 1
summarizes the content analysis of those statements from two
perspectives. First, the stakeholders named in the missions and secondly
the identified goals or objectives of the firm. Stakeholders recognized
in the 2001 mission statements included customers, stockholders,
employees, competitors, suppliers, and governments. Identified goals and
objectives included quality products or services, core values,
leadership, global emphasis, technology, environmental concerns,
profits, and ethical behavior.
As the table shows, customers and stockholders were the most
commonly mentioned stakeholders (61% and 34% respectively). Employees
were a distant third being mentioned in only 21% of the 2001 mission
statements. The goals or objectives mentioned most often were quality,
core values, and leadership. Combining these factors, firms were
striving to communicate the fact that they were producing a quality
product for their customers. Note that in 2001 mission statements, the
goal of maintaining ethical behavior was mentioned in only three of the
statements. This was prior to the discovery of many accounting frauds
and the passage of the Sarbanes-Oxley Act on July 30, 2002.
The authors' mission statement analysis continued in 2008 with
a review of the Fortune top 50 companies. Table 2 presents a summary of
this analysis of stakeholders and goals or objectives.
Customers and employees were the most commonly mentioned
stakeholders in these statements, while product quality and the
maintenance of global operations were the most typically included goal
or objective. A surprising decrease occurred in the number of mission
statements that described the firm as one that utilized current
technology decreasing from 14% to 2% of the statements. In addition,
none of the 2008 mission statements specifically mentioned competitors
which did occur in 9% of the 2001 missions. Table 3 below is converted
to percentages to allow for better comparison of the results of the
previous two tables which are based on the actual number of mission
statements involved.
This table points out some interesting trends that occurred over
this eight year period. First, the term "communities" has
become a popular stakeholder mentioned in many of the 2008 statements.
In 2001, only 6% of the mission statements used this term and only eight
years later 30% included the concept of communities. Communities, for
Valero Energy, means that the company takes a leadership role in the
communities in which its people live and work by providing company
support and encourage employee involvement. Another significant trend
was the increase in the importance of ethics and the maintenance of
ethical behavior. In 2001, only 3% of the mission statements included
ethics as a goal or objective. With the passage of the Sarbanes-Oxley
Act in 2002, large organizations realized that they must maintain a high
standard of ethical behavior as a foremost goal. Therefore, it is not
surprising that 30% of the firms included ethical behavior in their 2008
mission statement.
Another significant trend that occurred during this eight year
period was the increased appreciation for employees. The number of
mission statements that specifically identified employees as an
important stakeholder increased from 21% in 2001 to 34% in 2008. This is
not surprising as organizations realize that their most valuable asset
is their employees (human resources). A bit of a surprise was the
decreased emphasis on the owners of the corporation. Stockholders were
included in fewer mission statements in 2008 than 2001 (decreasing from
34% to 28%).
Another change that occurred during this period is the reduced use
of the term "core values" dropping from 25% to 14% of the
statements. In 2001, many firms did not have a formal mission statement
but instead listed a number of central or core values to which they
strived. In 2008, an increased number of firms was producing a more
standard format for the mission statement and listing these values
within that declaration.
Another major trend over this period was the emphasis by the firm
on producing a product or service of the highest quality and best value
for its customers. The goal of providing a high quality/best value
product was included in 52% of the mission statements in 2008 compared
to only 25% in 2001. Reviewing table 3 shows that the goal and
stakeholder mentioned most often in the 2008 statements was providing a
high quality product or service for the customers of the firm. This is
really no surprise as the "marketing concept" has historically
stated that a firm will only survive if it provides a quality product or
service to its identified target market customer base.
Finally, the concept of being a global company and serving a
worldwide market was mentioned much more often in 2008. The percentage
of firms identifying the goal or objective of being a global company
increased significantly from 15% in 2001 to 34% in 2008. This is
certainly a reasonable addition to mission statements as current
technology allows even small businesses to offer a homepage on the
Internet and sell goods and services globally.
The next portion of this paper describes the authors' review
of U.S. 2010 mission statements as well as mission statements from other
English speaking countries including Australia, Canada, and Great
Britain (United Kingdom). In order to maintain a reasonable length of
this paper, the authors reviewed the top 25 companies in each of these
four countries. Therefore, the appendix of this paper includes a total
of one hundred 2010 mission statements.
A REVIEW OF 2010 MISSION STATEMENTS BY COUNTRY
As mentioned above, the authors decided to expand the examination
of mission statements to include other English speaking countries. Table
4 summarizes the 2008 and 2010 U.S. mission statements containing the
listed stakeholder and goal or objective. The authors realized that in
such a short period there probably would not be material differences.
However, several significant changes did occur in this two year period.
For example, the concept of communities was included in 40% (vs. 30%) of
the 2010 mission statements. This is a huge increase from 2001 when only
6% of the statements included this term. It appears that large
corporations are increasingly realizing that they must be supportive of
the communities in which they operate.
Other significant changes include a lower percentage of firms
identifying employees in the statements dropping from 34% to 24%.
Another surprise is the decreased mention of environmental concerns in
the mission statements slipping from 16% to 8%. Customers continue to be
the primary stakeholder mentioned in the mission statements increasing
from 62% to 68% as firms emphasize the marketing concept. Emphasis on
both ethics and global operations decreased slightly both decreasing 2%
over the two year period. Providing a quality product that represents
good value to customers continues to be the most mentioned goal or
objective of large corporations, increasing slightly to 56% of the
largest mission statements.
The final portion of this paper presents an analysis of the mission
statements of the largest 25 businesses in the United States, Australia,
Canada, and Great Britain. The appendix of this paper contains these 100
statements. Table 5 summarizes the percentages by country of
stakeholders and goals or objectives included in these
organizations' mission statements. There are a number of
significant similarities and differences that are discussed in the
remainder of this paper.
As described earlier, in the 2010 U.S., the second most commonly
mentioned stakeholder (included in 40% of the mission statements) was
the community or communities' concept. This term was also popular
in Australia (32%) but had much less use in Canada (16%) and Britain
(4%). Care and concern for the communities in which the firm operates
has continued to be emphasized in the U.S. mission statements increasing
from only 6% in 2001 to 40% in 2010. The firm's customers were the
most frequently mentioned stakeholder in each of these four countries.
The U.S. (68%), Australia (64%), Canada (52%), and Britain (48%) each
realize that customer satisfaction is the key to successful operations.
Employees are most mentioned in Australian (48%) statements but are
also commonly included in the missions of firms in Britain (32%), Canada
(28%), and the U.S. (24%). Stockholders are the final stakeholder
typically included in these missions statements. Australia (40%) had the
largest percentage of mission statements mentioning stockholders or
shareholders followed by Britain (36%), Canada (32%), and the U.S.
(28%). Competitors who were included in 9% of 2001 U.S. mission
statements were not mentioned in the 2010 statements of any of the four
countries. The following paragraphs include mission statement examples
from each country that clearly identify significant stakeholders of the
businesses.
United States # 20 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."
United States #22 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."
Note the increased use of the term community or communities in
mission statements is included in both of these mission statements. An
increasing number of firms realize the importance of being a "good
neighbor" in the community in which they operate. The Kroger
mission specifies all of the major stakeholders including shareholders,
employees (associates), customers, suppliers, and communities.
Australia #4 ANZ Banking--"ANZ is committed to achieving
outstanding performance and results to provide value to our
shareholders, while considering the interests of employees, customers,
the community and others with whom we do business. In striving for
outstanding performance and results, we should not compromise our ethics
or principles. ANZ places great importance on honesty, integrity,
quality and trust."
Australia #19 Stockland--"Our Vision-To create a world class
diversified property group. Our Purpose--To deliver enduring value for
our stakeholders through innovative, customer focused property
solutions. Our Mission Includes
* People: Attract, engage and retain the best people as our most
important asset.
* Customers: Strive to exceed our customers' expectations.
* Shareholders: Provide superior returns through outstanding
performance.
* Partners: Create equitable rewarding partnerships by sharing
innovation and knowledge.
* Communities: Create sustainable and vibrant communities.
* Environment: Take care of the environment."
Both of these Australian missions include a variety of stakeholders
including customers, employees, shareholders, and communities. In
addition, as the Stockland mission shows, Australian firms (like U.S.
companies) are including the term communities in a significant
percentage of their mission statements (32%).
Canada #1 Royal Bank of Canada--"Always earning the right to
be our clients' first choice."
Canada #11 Sun Life Financial--"Our mission is to help
customers achieve lifetime financial security."
One interesting observation of Canadian mission statements is the
fact that fewer stakeholders are mentioned than those of the U.S. and
Australia. Royal Bank of Canada and Sun Life Financial both identify
only customers in their very brief mission statements.
Britain #7 HBOS--"to be recognized as the best financial
services company by customers, colleagues and shareholders. For us, that
comes down to relationships. Deep and lasting relationships which help
our customers achieve what's important to them."
Britain #19 National Grid--"We are committed to safeguarding
the environment for future generations and providing all our customers
with the highest standards of service. We achieve this through ongoing
investment in our systems and through our talented, diverse
workforce."
As evidenced by the two examples above, British mission statements
often identify a number of stakeholders. HBOS, for example, includes
customers, employees (colleagues), and shareholders. National
Grid's mission emphasizes customers and employees (workforce).
These primary stakeholders were commonly included in statements from all
four countries.
In summary, the three most often mentioned stakeholders in U.S.
mission statements were customers (68%), communities (40%), and
stockholders (28%). Most commonly mentioned Australian stakeholders were
customers (64%), employees (48%), and stockholders (40%). For Canadian
missions, the most frequently listed were customers (52%), stockholders
(32%), and employees (28%). Finally, Britain's top three
stakeholders are similar to Canada's with customers (48%),
stockholders (36%), and employees (32%) being the most mentioned.
As far as goals and objectives mentioned in these missions
statements, there is one that is most common in each of these four
countries. The goal of providing a quality product or service to
customers is the most mentioned objective by firms in the U.S. (56%),
Australia (52%), Canada (44%), and Britain (48%). Concern for the
environment was included in fewer U.S. (8%) mission statements compared
to those in Australia (24%), Canada (16%), and Britain (16%). An
interesting mission statement, given the recent oil disaster in the Gulf
of Mexico, is that of Britain's largest company British Petroleum
(BP). BP's mission statement includes the following statement.
"We strive to do that by producing energy that is affordable,
secure and doesn't damage the environment." This is an
excellent example of a situation where a company falls short of its
intended and declared mission.
The four most typically mentioned goals or objectives in the U.S.
were producing a quality product that has value to customers (56%),
stressing global operations (32%), emphasizing ethical operations (28%),
and striving for profitable operations (16%). Emphasis on global
operations that are conducted ethically are two goals that continue to
be primary since the authors first reviewed mission statements in 2001.
Also, the realization that a firm can only succeed if it provides a
quality product or service to its customers is common in all four
countries. Striving to be a leader in the industry (20%) and an emphasis
on profitability (16%) were two other goals that were commonly included
in the U.S. mission statements.
Australian mission statements typically emphasize a number of goals
or objectives. Similar to the U.S., Australia's missions most often
include the providing of a quality product or service that represents
value to the customers (52%). Four other goals are found in at least 24%
of Australian missions. They include conducting ethical operations
(36%), care for the environment (24%), emphasis on profits or
profitability (24%), and the desire to grow and expand (24%). Finally,
striving to be a leader was included in 16% of missions.
Canadian mission statements also typically included a number of
goals and objectives in addition to providing a quality product (44%).
These statements commonly include goals of conducting ethical operations
(24%), being environmentally friendly (16%), conducting global
operations (16%), and striving for a leadership position in their
industry (16%).
Finally, British mission statements contain a number of goals and
objectives (in addition to the production of a quality product or
service-48%). These goals include an emphasis on global operations
(36%), striving for a leadership position (36%), a desire to grow and
expand (16%), and the conducting of business in an environmentally
friendly manner (16%). The following are examples, from each country, of
mission statements that include specified goals and objectives of the
company.
U.S. #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."
Australia #10 Macquarie Group--"Macquarie aspires to be a
pre-eminent provider of financial services over the long haul. We
recognize that, however our achievements to date are judged, the quest
for improvement is never ending. The Macquarie culture is represented by
the way in which we act and work together. The values to which we aspire
can be summarized in six principles: Integrity, Client commitment,
Strive for profitability, Fulfillment for our people, Teamwork, and
Highest Standards. Our commitment to the six principles is vital for
continued growth and prosperity."
Canada #22 Bombardier -"Our mission is to be the world's
leading manufacturer of planes and trains. We are committed to providing
superior value and service to our customers and sustained profitability
to our shareholders by investing in our people and products. We lead
through innovation and outstanding product safety, efficiency and
performance. Our standards are high. We define excellence--and we
deliver."
Britain #5 Barclays--"Barclay's strategy is to achieve
good growth through time by diversifying its business base and
increasing its presence in markets and segments that are growing
rapidly. This is driven by the Group's ambition to become one of a
handful of universal banks leading the global financial services
industry, helping customers and clients throughout the world achieve
their goals."
Chevron's mission includes the goals of being socially
responsible and ethical, concern for the environment, and respect for
its local communities. Macquarie Group identifies the goals of
maintaining integrity, striving for profitability, maintaining high
standards, and concern for employees. Bombardier stresses the providing
of superior value in its products, excellent customer service, sustained
profitability for its shareholders, and outstanding product safety.
Finally, Barclays stresses the goals of growth and expansion, striving
for a leadership position in the industry, and aiding customers in the
achievement of their goals. The theme in many mission statements of all
four counties is that by achieving the goal of producing a quality
product that satisfies the needs of the customers will provide the firm
with continued profitability.
CONCLUSION
This paper has reviewed the stakeholders and goals and objectives
mentioned in the mission statements of the 25 largest businesses in the
U.S., Australia, Canada, and Great Britain. The top three stakeholders
in each of these countries are presented below.
This summary clearly shows that the customer is the primary
stakeholder in each of these countries. These English speaking nations
realize that pleasing the customer is the key to long-term successful
operations. Also, stockholders and employees are vital stakeholders who
are mentioned in a significant percentage of mission statements in each
of these countries. It is interesting to note that the term
"community or communities" has become the second most often
mentioned stakeholder (following customers) in the U.S. The importance
of being a good neighbor in the communities in which the firms operate
has grown in importance in recent years.
The top three goals or objectives mentioned in the mission
statements of these four countries are listed below.
It is obvious that firms in all four countries realize that they
must provide a quality product or service that provides value to their
customers. Also, ethical operations are important to businesses in the
U.S., Australia, and Canada evidenced by the fact that ethics was either
the second or third most included goal in these countries. Only Britain
deemphasized the importance of ethical operations as only 8% of its
mission statements included this goal. It is interesting to note that
the United States was the only country of the four where concern for the
environment was not in the top three goals or objectives. Australia was
the only country where global operations was not an emphasized objective
with only 4% of top Australian companies including this goal.
In summary, there are many similarities in the mission statements
of these English speaking countries. Customers are the most frequently
mentioned stakeholder in these large corporations and providing a
quality product or service to them is the most commonly included goal or
objective. Employees and stockholders follow customers as most typically
included stakeholders. Conducting global operations and ethical behavior
are two other critical goals in these countries. Finally, to a lesser
extent, the goals of growth, profitability, and leadership are also
significant. With changes in the world business environment occurring on
a continuous basis, it will be interesting to see how mission statements
will evolve in the next five to ten years.
APPENDIX
MISSION STATEMENTS FROM THE LARGEST 25 ORGANIZATIONS IN THE UNITED
STATES, AUSTRALIA, CANADA, AND THE GREAT BRITAIN (UK) (AS RANKED BY
FORBES)
United States
1 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."
2 Wal-Mart Stores--"Wal-Mart's mission is to help people
save money so they can live better."
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 ConocoPhillips--"Use our pioneering spirit to responsibly
deliver energy to the world."
5 General Electric-Core values--"Passionate, Curious,
Resourceful, Accountable, Teamwork, Committed, Open, Energizing, Always
With Unyielding Integrity."
6 General Motor s- "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."
7 Ford Motor--"We are a global family with a proud heritage
passionately committed to providing personal mobility for people around
the world."
8 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."
9 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."
10 Valero Energy--"As a leading refiner and marketer, we are
committed to following these guiding principles to achieve excellence in
our business, our industry, and our relationships with our employees and
communities.
Commitment to Safety
The safety of our employees, our operations, and our communities is our
highest priority. Commitment to Our Stakeholders.
We are committed to delivering long-term value to all stakeholders--our
employees, investors, and customers--by pursuing profitable,
value-enhancing strategies with a focus on world-class operations.
Commitment to Our Employees
Our employees are our No. 1 asset. We are committed to providing a
challenging, enjoyable and rewarding work environment, which fosters
creative thinking, teamwork, open communication, respect and
opportunity for individual professional growth and development.
Commitment to the Environment
We are committed to producing environmentally clean products, while
striving to improve and enhance the environmental quality of our
operations within our local communities.
Commitment to our Communities
We are committed to taking a leadership role in the communities in
which we live and work by providing company support and encouraging
employee involvement."
11 Bank of America Corp--"Our Philosophy--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.--Kenneth D. Lewis,
Chairman and CEO"
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 Berkshire Hathaway--None available.
14 McKesson--"Our mission is to provide comprehensive pharmacy
solutions that improve productivity, profitability and result in
superior patient care and satisfaction."
15 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."
16 J.P. Morgan Chase & Co.--"At J.P. Morgan 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."
17 Verizon Communications--"Verizon's commitment to top
quality service is well known. Verizon is the preeminent 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."
18 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."
19 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."
20 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."
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 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."
23 U.S. Postal Service--"To provide universal service that is
prompt, efficient, affordable, and self-sustaining."
24 Marathon Oil--"Marathon is a company that strives to bring
value and values together. We create value for our shareholders and
provide quality products and services for our customers. In doing so, we
act responsibly toward those who work for us, the communities in which
we operate and our business partners."
25 Costco Wholesale--"To continually provide our members with
quality goods and services at the lowest possible prices."
Australia
1 Commonwealth Bank--"The Commonwealth Bank's vision is
to be Australia's finest financial services organisation through
excelling in customer service. We aspire to: have people that are
engaged, passionate and valued, provide a service experience our
customers appreciate, deliver top quartile returns to our shareholders,
be respected and admired in our community. We want to be the financial
services organisation chosen by customers because of our outstanding
service. Ultimately, we want to be known as a great company to bank
with, work in and invest in."
2 National Australia Bank--"At NAB we believe that to achieve
the most out of life people need to have dreams and passion. Our purpose
as an organisation is to help our customers fulfil their aspirations.
Our focus is on backing people by listening, understanding and helping
them."
3 Westpac Banking Group--"Our objective is to build on what we
are already doing and exceed our goals for what you've told us are
the important things. That's our Ask Once commitment."
4 ANZ Banking--"ANZ is committed to achieving outstanding
performance and results to provide value to our shareholders, while
considering the interests of employees, customers, the community and
others with whom we do business. In striving for outstanding performance
and results, we should not compromise our ethics or principles. ANZ
places great importance on honesty, integrity, quality and trust."
5 Telstra Australia--"Our vision--To do for customers what no
one else has done: create a world of 1 click, 1 touch, 1 button, 1
screen, 1 step solutions that are simple, easy and valued by
individuals, businesses, enterprises and government. Our mission--To
know our customers and meet their needs better than anyone else."
6 Wesfarmers--"The primary objective of Wesfarmers is to
provide a satisfactory return to its shareholders. The company aims to
achieve this by: satisfying the needs of customers through the provision
of goods and services on a competitive and professional basis; providing
a safe and fulfilling working environment for employees, rewarding good
performance and providing opportunities for advancement; contributing to
the growth and prosperity of the countries in which it operates by
conducting existing operations in an efficient manner and by seeking out
opportunities for expansion; responding to the attitudes and
expectations of the communities in which the company operates; placing a
strong emphasis on protection of the environment; and acting with
integrity and honesty in dealings both inside and outside the
company."
7 Woolworths--"to deliver to customers the right shopping
experience each and every time. Woolworths' vision is to provide
quality products and services to its customers all the time through
price strategies, fresh food strategies and human resource
strategies."
8 QBE Insurance Group--"At QBE, we genuinely believe that our
success is built on the strength of our partnerships and our desire to
continuously improve all facets of our business. Our focus on meeting
the needs of our intermediary partners and clients has guided us in the
establishment of our business units. These have been alligned to meet
the specific needs of each group providing expert dedicated resources
you can rely on."
9 AMP--"AMP has a rich history. It was founded 160 years ago
on a belief that financial security helps people live with dignity. It
was also built on a promise to be a sure friend in uncertain times.
These basic principles are just as relevant today. AMP is an
organization which constantly strives to act ethically and honestly in
its business dealings and interactions. This is only possible when its
people--be they directors, employees, contractors or consultants--act in
an ethical, fair and honest way. By putting these principles into
practice, we can create greater wealth for our customers and clients,
helping them feel more secure, and live with greater freedom and peace
of mind."
10 Macquarie Group--"Macquarie aspires to be a pre-eminent
provider of financial services over the long haul. We recognise that,
however our achievements to date are judged, the quest for improvement
is never ending. The Macquarie culture is represented by the way in
which we act and work together. The values to which we aspire can be
summarised in six principles: Integrity, Client commitment, Strive for
profitability, Fulfilment for our people, Teamwork, and Highest
Standards. Our commitment to the six principles is vital for continued
growth and prosperity."
11 Suncorp-Metway--"The work that we do in sustainability is
underpinned by the Group's noble purpose: We help people build and
protect their dreams. Suncorp's approach to sustainability is
focused on enabling people to be sustainable. Internally we are doing
that by providing training and information to assist our employees in
being sustainable at home and at work."
12 Qantas Airways -"All Directors and employees of Qantas, its
subsidiaries and associated entities (Qantas Employees) must conduct the
business of the Qantas Group with the highest level of ethics and
integrity. This obligation applies particularly to dealings with
shareholders, customers, suppliers, competitors, governments,
regulators, other Qantas Employees and all others stakeholders. Qantas
Employees must, at all times, act:
i. ethically, honestly, responsibly and diligently;
ii. in full compliance with the letter and spirit of the law and
this Code; and
iii. in the best interest of the Qantas Group."
The Qantas Group's long term vision is to operate the
world's best premium airline, Qantas, and the world's best low
fares carrier, Jetstar.
13 Origin Energy--"Origin owns, develops and procures energy
and related products and services to provide customers with better
choices to meet their energy needs. We strive for: Delivering market
leading performance for shareholders by identifying, developing and
operating value creating businesses across the energy supply chain.
Delivering value to customers by developing and procuring competitive
sources of energy and related products and services that better meet
customers' energy needs.
Creating a rewarding workplace for employees by encouraging
personal development, recognising good performance, valuing teamwork and
fostering equality of opportunity. Respecting the rights and interest of
the communities in which we operate by working safely and being mindful
of and attentive to the environmental and social impact of the
resources, products and services we use or provide to others."
14 Woodside Petroleum--"To create and deliver outstanding,
sustained growth in shareholder wealth by providing energy for the
future."
15 Westfield Group--"While Westfield always seeks to deliver
investors steady returns and solid long-term capital growth, this
business philosophy sits within a framework that attempts to balance
economic, social and environmental outcomes. Taking the economic, social
and environmental aspects of our business into account leads to better
risk management, cost savings, innovation and a performance culture
within the business. This drives shareholder returns and helps us meet
our obligations to the communities in which we operate."
16 Insurance Australia Group--"IAG's strategic intent is
to create a portfolio of high performing, customer focused, diverse
operations providing general insurance in a manner that delivers
superior experiences for our stakeholders and creates shareholder
value."
17 CSL--"The CSL Group Values set a foundation for working
across the organisation and serves as a tool in decision-making in the
diverse businesses that form the CSL Group. In 2002 the Company set out
to identify a set of values common to the diverse business units that
form the CSL Group. These values are:
Customer Focus--We are passionate about meeting the needs of our
customers Innovation--We seek better ways of doing things Integrity--We
are ethical and honest at all times Collaboration--We work together to
achieve better results Superior Performance--We strive to be the best at
what we do."
18 Santos--"Santos' vision is to be a leading energy
company for Australia and Asia through delivering the base business,
tapping our resource riches, being a great place to work and doing it
safely and sustainably to deliver a superior shareholder return."
19 Stockland--"Our Vision-To create a world class diversified
property group.
Our Purpose--To deliver enduring value for our stakeholders through
innovative, customer focused property solutions. Our Mission Includes-
People: Attract, engage and retain the best people as our most
important asset. Customers: Strive to exceed our customers'
expectations. Shareholders: Provide superior returns through outstanding
performance. Partners: Create equitable rewarding partnerships by
sharing innovation and knowledge. Communities: Create sustainable and
vibrant communities. Environment: Take care of the environment."
20 BlueScope Steel-"We and our customers proudly bring
inspiration, strength and colour to communities with BlueScope Steel.
Our customers are our partners. Our success depends on our customers and
suppliers choosing us. Our strength lies in working closely with them to
create value and trust, together with superior products, service and
ideas. Our people are our strength. Our success comes from our people.
We work in a safe and satisfying environment. We choose to treat each
other with trust and respect and maintain a healthy balance between work
and family life. Our experience, teamwork and ability to deliver steel
inspired solutions are our most valued and rewarded strengths. Our
shareholders are our foundations. Our success is made possible by the
shareholders and lenders who choose to invest in us. In return, we
commit to continuing profitability and growth in value, which together,
make us all stronger. Our communities are our homes. Our success relies
on communities supporting our business and products. In turn, we care
for the environment, create wealth, respect local values and encourage
involvement. Our strength is in choosing to do what is right."
21 Brambles--Our mission is:
"To be the world's leading provider of innovative
business solutions in support services To use our outsourcing expertise
to add exceptional value in the eyes of our customers To create superior
shareholder value through our people and their enterprising
spirit."
22 Macquarie Airports--"The values to which we aspire can be
summarized in six principles. Integrity, Client commitment, Strive for
profitability, Fulfilment for our people, Teamwork, Highest standards.
Our commitment to the six principles is vital for continued growth and
prosperity."
23 Crown--"It is a fundamental principle of Crown Limited that
all of our business affairs shall be conducted legally, ethically and
with strict observance of the highest standards of integrity and
professionalism."
24 Orica--"Orica's business activities are guided by our
three pillars:
Strategy--planning for business growth
Efficiency--productivity improvements and capital management
Culture--having common attitudes, behaviours and ethics."
25 Lend Lease--"Lend Lease's vision is to be the leading
international property company."
Canada
1. Royal Bank of Canada--"Always earning the right to be our
clients' first choice."
2. Toronto-Dominion Bank- "Where we compete, we will be the
best run, integrated, customer focused financial institution.
OUR GUIDING PRINCIPLES ARE:
Be customer driven
Know your customers
Understand the customer's perspective
Work as an integrated company to meet our customers' financial
needs
Protect our customers' information
Respect each other
Treat each other as intelligent and valued individuals
Communicate directly and honestly
Celebrate our successes
Reflect the diversity of the communities we serve
Encourage healthy debate
Execute with excellence
Use resources wisely to fulfill both the corporate and business
unit strategy
Improve processes continuously
Remove barriers that inhibit excellence
Embrace teamwork
Acknowledge mistakes early and address them
Know our business
Know what makes your business profitable
Know how other TD businesses can help your customers
Know what's going on in your field
Develop focused strategies and actions that align with TD's
goals
Be an expert at what you do
Enhance our brand
Act with integrity
Understand that reputational risk matters and treat TD's
reputation as your own
Be a leader in corporate governance
Make a positive contribution to our communities
Increase shareholder value
Deliver consistent and growing financial results
Adhere to our strategies and our principles
Be performance driven--value high performers, reward leaders who
develop their people, and constantly raise performance standards."
3/ Bank of Nova Scotia--" Our core purpose is to be the best
at helping customers become financially better off. This guides all our
decisions. We are committed to providing excellence in customer service
by living our shared values, as a team and individually.
Diversification, by business and geography, continues to be the focus of
our strategy and underpins our potential for sustainable earnings growth
in each of our three business lines--Canadian Banking, International
Banking and Scotia Capital--over the long term."
3. EnCana--"We strive to be a trusted contributor in the
communities where we work and live, conducting our business in an
ethical and socially responsible manner, so we can fulfill our mission
of providing energy for people."
4. Bank of Montreal--"Our first responsibility is to our
customers. We are committed to providing accessible, affordable banking
and relevant products and services that make sense. As a responsible
corporate citizen, we support financial literacy. We contribute to the
economic well-being and economic growth of Canada and Canadians by
creating not only employment but careers. We create a supportive
workplace that welcomes individuals from diverse communities. And we
promote conservation and the protection of our environment."
5, Suncor Energy--"Suncor produces the energy that is refined
into products that consumers across North America use to fuel their
vehicles, heat their homes, and power their schools, hospitals and
businesses. By investing in technology, Suncor is working to ensure our
products are developed in an environmentally responsible way, while also
meeting consumer expectations for high-quality, competitively priced and
safe products."
5. Husky Energy--"Husky Energy is committed to managing
business in a socially responsible manner, focused on sustainable
development and environmental stewardship without compromising the needs
of stakeholders and the prospects of future generations. Husky is part
of a massive global energy industry with strong, sustainable
opportunities. The oil and gas business is a long-term,
capital-intensive industry that must withstand the ups and downs of the
global economic environment and commodity price cycle. Ensuring
workplace and public safety, preventing environmental impacts, and
participating in the community are core principles in Husky's
business strategies and related activities. As a major energy company,
Husky recognizes its substantial social, economic and environmental
responsibilities."
6. Canadian Natural Resources -"To develop people to work
together to create value for the Company's shareholders by doing it
right with fun and integrity."
7. Petro-Canada--"To be the leader in the development of some
of the purest base oils and innovative, superior products that customers
trust for productivity improvements around the world. We are clearly
recognized as the industry's leading provider of innovative
solutions, products and services. We are committed to value and tangible
customer savings."
8. Manulife Financial--"Manulife Financial's vision is to
be the most professional life insurance company in the world: providing
the very best financial protection and investment management services
tailored to customers in every market where we do business."
9. Sun Life Financial--"Our mission is to help customers
achieve lifetime financial security. Our vision is to be an
international leader in protection and wealth management."
10. Power Corp of Canada--"Power Corporation is committed to
enhancing shareholder value through the active management of long-term
investments and responsible corporate citizenship. It is of the view
that these objectives are best achieved and risks minimized through
sectoral and geographic diversification. Power Corporation believes that
the future belongs to those corporations having a well-defined strategic
vision anchored in strong core values. These principles guide the
Corporation in all of its investment decisions."
11. BCE--"The highest levels of customer service, a working
environment in which performance is recognized and people are respected
and sensitivity to the needs of the community that the Company
serves."
12. Brookfield Asset Mgmt--"As an asset manager, we raise,
invest and manage capital on behalf of ourselves and our co-investors,
and develop and maintain operating platforms that enable us to
effectively manage these assets and enhance their values over
time."
13. Enbridge--"Enbridge has a vision: we want to be the
leading energy delivery company in North America. We deliver energy and
we deliver value to shareholders."
14. TransCanada--"To provide reliable supplies of energy
across the continent, safely and responsibly. We are proud that millions
of North Americans can depend on us for the energy they need."
15. Talisman Energy--None available.
16. Barrick Gold--"Barrick's vision is to be the
world's best gold mining company by finding, acquiring, developing,
and producing quality reserves in a safe, profitable and socially
responsible manner."
17. Potash of Saskatchewan--"Play a key role in the global
food solution while building long-term value for all our
stakeholders."
18. Canadian National--"to make CN not just the
best-performing railroad in North America, but the continent's
best-performing transportation company. Our goal is to extract even
greater benefits from our innovative scheduled railroading practices,
and to accelerate our relentless drive to push change and innovation
throughout the organization."
19. George Weston- "Weston seeks long term, stable growth in
its operating segments through continuous capital investment supported
by a strong balance sheet, thereby providing sustainable returns to its
shareholders through a combination of common share price appreciation
and dividends. Weston's vision has been, and continues to be,
centered on three main principles: growth, innovation and flexibility.
Weston seeks long term, stable growth in its operating segments, while
accepting prudent operating risks through continuous capital investment
support by a strong balance sheet, with the goal of providing
sustainable returns to its shareholders through a combination of common
share price appreciation and dividends .The Company believes that to be
successful over the long term, it must deliver on what its customers and
consumers want, today and in the future. The Company encourages
innovation in order to provide consumers with new products and
convenient services at competitive prices that meet consumers'
everyday household needs."
20. Bombardier--"Our mission is to be the world's leading
manufacturer of planes and trains.
We are committed to providing superior value and service to our
customers and sustained profitability to our shareholders by investing
in our people and products. We lead through innovation and outstanding
product safety, efficiency and performance. Our standards are high. We
define excellence--and we deliver."
21. Rogers Communications -"We are focused on strengthening
our CSR practices and adopting a more rigorous and systematic approach.
That means tackling new issues and challenges that matter to our
stakeholders, such as stepping up our efforts to mitigate our
environmental footprint and help our customers do the same when it comes
to using our products and services. Along with a strong set of corporate
values and wide-ranging initiatives to conduct our business responsibly,
we believe a cornerstone of CSR is also about doing what we do
best--adding great value to our customers' lives through an
innovative and accessible array of wireless, cable, high-speed Internet,
telephony and media products and services."
22. Research In Motion--No mission or vision statement available
22. Fairfax Financial--"To achieve a high rate of return on
invested capital and build long term shareholder value."
Britain (UK)
1 British Petroleum-"BP wants to be recognized as a great
company--competitively successful and a force for progress. We have a
fundamental belief that we can make a difference in the world. We help
the world meet its growing need for heat, light and mobility. We strive
to do that by producing energy that is affordable, secure and
doesn't damage the environment. BP is progressive, responsible,
innovative and performance driven."
2 HSBC Holdings-Our mission includes:
"the highest personal standards of integrity at all levels;
commitment to truth and fair dealing; hands-on management at all
levels; openly esteemed commitment to quality and competence; a
minimum of bureaucracy; fast decisions and implementation; putting
the team's interests ahead of the individual's; the appropriate
delegation of authority with accountability; fair and objective
employer; a diverse team underpinned by a meritocratic approach to
recruitment/selection/promotion; a commitment to complying with the
spirit and letter of all laws and regulations wherever we conduct
our business; the exercise of corporate social responsibility
through detailed assessments of lending proposals and investments,
the promotion of good environmental practice and sustainable
development, and commitment to the welfare and development of each
local community."
3 Royal Bank of Scotland--"We regard every day as a new chance
to earn your trust. It demands hard work, integrity and transparency,
but that's what we do."
4 Tesco--"Our core purpose is to create value for customers to
earn their lifetime loyalty."
5 Barclays--"Barclay's strategy is to achieve good growth
through time by diversifying its business base and increasing its
presence in markets and segments that are growing rapidly. This is
driven by the Group's ambition to become one of a handful of
universal banks leading the global financial services industry, helping
customers and clients throughout the world achieve their goals."
6 Vodafone -"Our vision for 2010 is to be one of the most
trusted companies in the markets where we operate. Our five year CR
strategy--developed in 2005 and continually evolving--is designed to
help us realize this vision. It sets clear priorities to:
Capture the potential of mobile to bring socio-economic value in
both emerging economies and developed markets, through broadening
access to communications to all sections of society. Deliver
progress against stakeholder expectations on the key areas of
climate change, a safe and responsible internet experience, and
sustainable products and services. Ensure our operating standards
are of a consistent and appropriate level across the Group."
HBOS--"to be recognized as the best financial services company by
customers, colleagues and shareholders. For us, that comes down to
relationships. Deep and lasting relationships which help our
customers achieve what's important to them."
7 Rio Tinto Group- "Rio Tinto's fundamental objective is
to maximise profit to investors by operating responsibly and sustainably
in finding, mining and processing minerals--areas of expertise in which
the Group has a competitive advantage. Our strategy is to invest in
large, long life and cost competitive mines driven by the quality of
opportunity, not choice of commodity."
8 GlaxoSmithKline -Our mission strives to:
"Grow a diversified global business
Deliver more products of value
Simplify the operating model."
9 Scottish & Southern Energy--"Scottish and Southern
Energy's core purpose is to provide the energy people need in a
reliable and sustainable way. Our strategy is to deliver sustained
growth in the dividend payable to shareholders through the efficient
operation of, and investment in, a balanced range of regulated and
non-regulated businesses."
10 Centrica -"Our vision is to be the leading integrated
energy company in our chosen markets."
11 BT--"Our vision is to be dedicated to helping customers
thrive in a changing world. The world we live in and the way we
communicate are changing, and we believe in progress, growth and
possibility. We want to help all our customers make their lives and
businesses better with products and services that are tailored to their
needs and easy to use."
12 Aviva--"Our purpose is to bring prosperity and peace of
mind to our customers. We will do this by realising our vision: One
Aviva, twice the value. By working together across our businesses, we
will optimise our performance in the global marketplace and maximise the
value we can generate for all our stakeholders."
13 Wolseley--"We believe that significant shareholder value
can be generated through an even greater level of focus on
Wolseley's core businesses, which present the best opportunities
for return on investment in the longer term."
14 Lloyds Banking Group- "To be recognisedkas the best
financial services company by customers, colleagues and shareholders.
For us, that comes down to relationships. Deep and lasting relationships
which help our customers achieve what's important to them."
15 J. Sainsbury--"At Sainsbury's we will deliver an
ever-improving quality shopping experience for our customers with great
products at fair prices. We aim to exceed customer expectations for
healthy, safe, fresh and tasty food, making their lives easier every
day."
16 AstraZeneca-"Strengthening our pipeline of new
medicines--both from our own research efforts and through
externalisation to access the world of science outside AstraZeneca that
will help us develop better, safer medicines. Delivering the full
potential of all our marketed medicines--through rigorous lifecycle
management and excellent customer support, to ensure we deliver the full
benefit of our range for patients and society. Re-shaping our
business--by challenging all aspects of our cost base to make room for
further investment in the research, development, manufacturing and
marketing of new medicines. Promoting a culture of responsibility and
accountability--because I want AstraZeneca to be valued both as a source
of great medicines and as a company committed to delivering business
success responsibly. This fourth priority underpins and supports
achievement of the first three. Our mission is delivering enduring value
for our stakeholders and society through both what we do and how we do
it."
17 BAE Systems--"To be the Leading Systems Company, Innovating
for a Safer World."
18 National Grid--"We are committed to safeguarding the
environment for future generations and providing all our customers with
the highest standards of service. We achieve this through ongoing
investment in our systems and through our talented, diverse
workforce."
19 Anglo American- "Our ambition is to be the leading global
mining company, becoming the investment, partner and employer of
choice."
20 William Morrison Supermarkets- "Our aim is to provide all
our customers with the very best value for money wherever they live and
uniquely, we have always charged the same prices in every one of our
large stores."
21 Standard Chartered Group--"To be the world's best
international bank leading the way in Asia, Africa and the Middle
East."
22 BG Group--"Our focus is on understanding, building and
supplying natural gas markets around the world."
23 Compass Group- "To be a world-class provider of contract
foodservice and support services, renowned for our great people, our
great service, and our great results."
24 British American Tobacco--"Our goals are to grow our brands
and the value of the business, to improve productivity and to embed the
principles of corporate responsibility around the Group."
REFERENCES
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.
King, D.L. (2001). Mission Statement Content Analysis. Academy of
Managerial Communications Journal, 5(1&2), 75-100.
King, D.L., Case C.J. & Premo, K.M. (2010). Current Mission
Statement Emphasis: Be Ethical and Go Global. Academy of Strategic
Management Journal, 9(2), 73-90.
Verma, Harsh (2010). Mission Statements- A study of Intent and
Influence. Journal of Services Research, 9(2), 169-171.
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 Goals/Objectives
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
Profits 6 Ethics 3
Communities 6
Table 2: 2008 Fortune 50--Mission Statement
Stakeholders Goals/Objectives
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
2001 Study 2008 Study
Stakeholders Communities 6% 30%
Competitors 9% 0%
Customers 61% 62%
Employees 21% 34%
Govt./Law 2% 4%
Stockholders 34% 28%
Suppliers 6% 10%
Goals/Objectives 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:
2008 Study 2010 Study
Stakeholders Communities 30% 40%
Competitors 0% 0%
Customers 62% 68%
Employees 34% 24%
Govt./Law 4% 8%
Stockholders 28% 28%
Suppliers 10% 12%
Goals/Objectives Core Values 14% 8%
Environmental 16% 8%
Ethics 30% 28%
Global 34% 32%
Leadership 14% 20%
Profits 12% 16%
Quality/Value 52% 56%
Table 5: Raw Count and Related Percentages by Country for 2010
Mission Statement
Stakeholders U.S. Percentage
Communities/Community 10 40%
Competitor 0 0%
Customer 17 68%
Employee 6 24%
Government/Law 2 8%
Stockholders/stakeholders 7 28%
Suppliers 3 12%
Goals/Objectives U.S. Percentage
Core Values/Values 2 8%
Environment/Earth Friendly 2 8%
Ethics/Ethical Operations 7 28%
Global 8 32%
Leadership 5 20%
Profits/Profitability 4 16%
Quality/Value/Service 14 56%
Growth/Expansion 2 8%
Efficiency 1 4%
Trust 1 4%
Stakeholders Canada Percentage
Communities/Community 4 16%
Competitor 0 0%
Customer 13 52%
Employee 7 28%
Government/Law 0 0%
Stockholders/stakeholders 8 32%
Suppliers 1 4%
Goals/Objectives Canada Percentage
Core Values/Values 4 16%
Environment/Earth Friendly 4 16%
Ethics/Ethical Operations 6 24%
Global 4 16%
Leadership 4 16%
Profits/Profitability 3 12%
Quality/Value/Service 11 44%
Growth/Expansion 2 8%
Efficiency 1 4%
Trust 1 4%
Stakeholders Australia Percentage
Communities/Community 8 32%
Competitor 0 0%
Customer 16 64%
Employee 12 48%
Government/Law 1 4%
Stockholders/stakeholders 10 40%
Suppliers 3 12%
Goals/Objectives Australia Percentage
Core Values/Values 4 16%
Environment/Earth Friendly 6 24%
Ethics/Ethical Operations 9 36%
Global 1 4%
Leadership 4 16%
Profits/Profitability 6 24%
Quality/Value/Service 13 52%
Growth/Expansion 6 24%
Efficiency 2 8%
Trust 2 8%
Stakeholders Britain Percentage
Communities/Community 1 4%
Competitor 0 0%
Customer 12 48%
Employee 8 32%
Government/Law 1 4%
Stockholders/stakeholders 9 36%
Suppliers 0 0%
Goals/Objectives Britain Percentage
Core Values/Values 3 12%
Environment/Earth Friendly 4 16%
Ethics/Ethical Operations 2 8%
Global 9 36%
Leadership 9 36%
Profits/Profitability 3 12%
Quality/Value/Service 12 48%
Growth/Expansion 4 16%
Efficiency 2 8%
Trust 1 4%
U.S. Australia Canada Britain
Customers Customers Customers Customers
Communities Employees Stockholders Stockholders
Stockholders Stockholders Employees Employees
U.S. Australia Canada
Quality/Value Quality/Value Quality/Value
Global Operations Ethical Operations Ethical Operations
Ethical Operations Profits/Growth/Env. Env./Global/Leadership
U.S. Britain
Quality/Value Quality/Value
Global Operations Global/Leadership
Ethical Operations Env./Growth
