Analysis of Vision and Mission Statements Characteristics and their Association with Organizational Performance: A Guide to Writing Effective Vision and Mission Statements

Abstract

This paper empirically examines vision and mission statements of Fortune 500 firms for the purpose of identifying and examining specific characteristics and associating these attributes with organizational performance. Additionally, this paper provides a theoretical foundation for the inclusion of various characteristics of vision and mission documents, and thus provides guidance for organizations to develop and revise these important strategic planning documents. JEL CODE: M21, O21