An Empirical Investigation into the Relationship between Mission Statements and Stakeholder Management

Abstract:     
The philosophy of establishing a corporate mission is still very nascent in India and moreover very vague in its implications. This study analyses the relationship between mission statement content and stakeholder management actions. Findings indicate that although consumer related issues like product quality, innovation, R&D and communication, that are mentioned in mission statements is significantly associated with behaviors regarding these issues. The study found no relationship between firms with mission statements that mention specific stakeholder groups (employees, environment, and community) and behaviors regarding these stakeholders. This suggests that the inclusion of specific stakeholder groups in missions is likely the result of institutional pressures & creation of a public image while specifying social issues in missions is related to policy decisions.

Number of Pages in PDF File: 19

Keywords: mission statement, community, Indian perspective, stakeholder management

Accepted Paper Series