A mission statement analysis comparing the United States and three other English speaking countries.
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.
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.
MISSION STATEMENTS FROM THE LARGEST 25 ORGANIZATIONS IN THE UNITED STATES, AUSTRALIA, CANADA, AND THE GREAT BRITAIN (UK) (AS RANKED BY FORBES)
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."
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."
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
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."
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."
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
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|Author:||King, Darwin L.; Case, Carl J.; Premo, Kathleen M.|
|Publication:||Academy of Strategic Management Journal|
|Date:||Sep 1, 2011|
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