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Mission statements and company financial performance revisited

Author

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  • Pradeep Dharmadasa
  • Yasantha Maduraapeurma
  • Siriyama Kanthi Herath

Abstract

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

Suggested Citation

  • Pradeep Dharmadasa & Yasantha Maduraapeurma & Siriyama Kanthi Herath, 2012. "Mission statements and company financial performance revisited," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 4(3), pages 314-324.
    • Handle: RePEc:ids:injmfa:v:4:y:2012:i:3:p:314-324
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    Citations

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    Cited by:

    1. Vladimir A. Ermolaev & Dmitry A. Ruban & Natalia N. Yashalova & Natalia A. Latushko & A.J. (Tom) van Loon, 2020. "Missions of Russian Cheese Producers: Principal Components and Relevance for Rural Communities," Agriculture, MDPI, vol. 10(3), pages 1-11, March.
    2. Juha Kettunen, 2016. "Relationship Between Mission Statement And Scope Of Business: Evidence From Finland," Review of Business and Finance Studies, The Institute for Business and Finance Research, vol. 7(1), pages 69-78.
    3. Diego F. Téllez & Jesús M. Godoy, 2017. "Mission Power and Firm Financial Performance," Documentos de Trabajo de Valor Público 15655, Universidad EAFIT.

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