Mission Statements of Selected Bangladeshi Companies: An Analysis from a Strategic Management Viewpoint
The Cost and Management, Vol. 35, No. 3, pp. 46-60, May-June 2007
16 Pages Posted: 14 Apr 2008
This study first identifies the importance of mission statement for an organization and then tries to find out the quality of mission statements of the listed Public Limited Companies (PLCs) in Bangladesh. The nine criteria suggested by Fred R. David (2003) were taken as benchmark for this study. The annual reports of a sample of 167 PLCs have been surveyed to determine the nature and extent of disclosure by computing total score and a Mission Statement Disclosure Index (MSDI). The study results show that 55 companies (32.93%) are disclosing mission statements with a mean score of 4.145 out of total score 9 (MSDI 46.00). The results also show that the companies are focusing more on customers and concern for survival, growth and profitability and little focus is placed on self-concept, technology and market. As the average score of the companies are below 4.5 (half of the total score possible), conclusion has been drawn that the companies are preparing and disclosing the mission statements without having proper knowledge of the characteristics of the mission statement from strategic management viewpoint.
Keywords: Mission statement, Self-concept, Philosophy.
JEL Classification: M12
Suggested Citation: Suggested Citation