Do Firms Practice What They Preach? The Relationship Between Mission Statements and Stakeholder Management |
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Authors: | Barbara R Bartkus Myron Glassman |
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Institution: | (1) Department of Business Administration, Old Dominion University, 49th & Hampton, Norfolk, VA, 23529, U.S.A. |
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Abstract: | The accuracy of corporate mission statements has not been well explored. In this study, the authors investigate the relationship
between mission statement content and stakeholder management actions. Findings indicate that although social issues such as
the environment and diversity are less frequently included, their mention 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, customers, 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, while specifying
social issues in missions is related to policy decisions.
Barbara R. Bartkus is Associate Professor at Old Dominion University. She received her Ph.D. from Texas A&M University. Her
research interests includes strategic goals, governance and corporate philanthropy.
Myron Glassman is Professor of Marketing at Old Dominion University. He received his Ph.D. from the University of Illinois.
His research focuses on integrating marketing and management concepts. |
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Keywords: | diversity environment mission statement social issues stakeholder management |
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