A content analysis of the mission statements of Iranian joint stock firms in four industries: A further research to explore the implications of Peyrefitte & David (2006) findings

Abstract

This study at first analyzes the mission statements of 50 large Iranian joint stock firms in four industries for their inclusion of nine components identified in the strategic management literature and then tries to compare the findings with another research made by Peyrefitte and David (2006). It is believed that mission statement is primarily a tool for internal purposes, such as the development of company strategy, providing leadership, and performance evaluation. On the other hand some argue that the mission statement is primarily used as a 'public relations statement,' and therefore mission statements do not reflect reality. We, the same as Peyrefitte and David (2006) propose that although mission statements are useful tools for internal purposes, firms may be subject to institutional pressures that influence the components of their mission statements. The results of a content analysis of the mission statements in another environment may provide more evidence for their findings. We found similar use of mission components across four industries; however we could not find enough proofs for the similar use of mission components within industry boundaries.