Mission Statements and Corporate Identity

Abstract

Broadly defined, corporate identity refers to the way in which an organization reveals its corporate philosophy and strategy to internal and external publics through communication, behavior, and symbolism. This paper examines an important aspect of corporate communication to key internal and external publics, namely, firms’ mission statements in annual reports. We examined corporate mission statements found within the annual reports of a large cross section of publicly-held companies. We followed this approach for two reasons. First, mission statements are widely viewed as necessary in helping a company form its identity, purpose, and direction, and as key instruments by which the firm’s essential values are conveyed to its stakeholders. Consultants specializing in corporate identity often recommend the mission statement as the starting point for a corporate identity program. Second, since a firm’s annual report is its most widely available and visible formal communication with stakeholders, it is an effective vehicle for conveying the mission statement.