THE STRATEGIC PLANNING PROCESS: THE LINK BETWEEN MISSION STATEMENT AND ORGANIZATIONAL PERFORMANCE

The strategic planning process requires development of a mission statement for the organization. The mission statement incorporates the organization’s purpose and vision for the future. A nineitem mission statement evaluation scale was developed to measure the completeness and quality of an organization’s mission statement. Further, the link between the completeness and quality of an organization’s mission statement and the organization’s financial performance was investigated. Results indicate a significant positive relationship between the completeness and quality of the mission statement and the organization’s financial performance. Strategic managers can expect that the result of improving their organization’s mission statement will be improved financial performance of the enterprise