The mission statement is a strategic tool: when used properly

Abstract

Managers are divided in their allegiance to their firms’ mission statements. Some managers swear by their mission statement while others swear at theirs. Evidence from two firms, as well as existing research, indicates that part of this disagreement originates in the manager’s view of mission statements. Managers who see mission statements as tools that can influence the inner workings of their organizations are likely to understand the mission’s usefulness. Managers who put their mission statements on display and expect them to magically transform organizational behavior are likely to be frustrated and see them as an exercise in futility. In this paper, insights from two managers who take the first view provide specific steps managers can utilize to harness the benefits of their mission statements.

A world of difference? The impact of corporate venture capitalists’ investment motivation on startup valuation

“…Accordingly, the following website information sources were included: Message from the CEO, About Us, Who We Are, Our Approach, Our Mission or alternatively a CVC unit's description of itself found in press releases. Hence, all organizationally produced texts offer a clear view of the underlying mission statements (e.g., Cochran and David 1986;Mullane 2002;Pearce and Fred 1987). It should be remarked that when a CVC's website was not active as of January 2016 due to a merger, spin-out, acquisition, or abandonment, we retrospectively accessed the required information using the Internet Archive's Wayback Machine (Hackett et al 2004); a technique that has been applied previously (e.g., Youtie et al 2012).…”

Social capital and management control systems: A study of a non-government organization

“…The Agency and its staff are committed to the underlying value and dignity of every human life." Some argue that belief systems can add most value when used actively to influence employee behaviour in specific situations (Dowling, 2001;Mullane, 2002;Mundy, 2009). We observed belief systems in action to help manage a potential dilemma common within welfare agencies.…”

Creating Awareness on Vision and Mission Statements among Employee of Ebonyi State University, Nigeria: A Discourse

“…Thus, developing vision and mission statements are collective responsibility of the relevant stakeholders to enable the internal and external determine direction of the institution and such align to achieve the objective and philosophy. Supporting the argument Mullane (2002) believes that vision and mission statements are useful for every day operations, it is not antiquated documents that exhibited and placed at the strategic position of an institution and also has the power to motivate employee when the future and present of the institution is known and effort geared towards sustaining the dream.…”

“…Thus, developing vision and mission statements are collective responsibility of the relevant stakeholders to enable the internal and external determine direction of the institution and such align to achieve the objective and philosophy. Supporting the argument Mullane (2002) believes that vision and mission statements are useful for every day operations, it is not antiquated documents that exhibited and placed at the strategic position of an institution and also has the power to motivate employee when the future and present of the institution is known and effort geared towards sustaining the dream.In related development articulated vision and mission statements are believed to motivate, shape behaviours, cultivate high levels of commitment and significantly affect positively on employee performance (Williams, 2012;Mullane, 2002). Studies like Mullane, (2002); William (2012) Noor, (2012) and Dermol, (2012 suggests that vision and mission statements have positive impact on profitability, motivate employee, shape behavior and cultivate high levels of commitment in an organization.…”