Conference proceedings article
The Gap Between Strategic Management Theory and Practice: Mission Statements Analysis of 100 Best Global Brands

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Publication Details
Author list: Shabir Ahmad
Publication year: 2021
Start page: 158
End page: 171
Number of pages: 14
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Interbrand’s 100 Best Global
Brands (100 BGB) are the most prominent firms that achieved the pinnacle of
success through effective strategies. These firms effectively utilize mission
statements to formulate the strategies and to communicate the firm’s purpose to
stakeholders. This research aims to analyze the mission statements of 100 BGB
of the year 2020. A content analysis technique was employed to assess the
mission statements. The most successful brands are expected to have ideal
mission statements, as their strategies are the most effective to lead them to
the top of the global ranking with the highest brand equity. However, the
results revealed that the mission statements of 100 BGB lack several components
and characteristics that a theoretically ideal mission statement should
possess. Yet these brands managed to outperform. This raises the concern for
the widening gap between strategic management theory and practice. This invites
future researchers to reconfirm the role of mission statements in the firms’
strategies and profitability and to reconcile the strategic management theory
and practice. The findings provide numerous recommendations to academia and
industry. At the least, the 100 BGB need to mention concern for employees,
society, and the environment in their mission statements.

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Last updated on 2021-30-08 at 13:20

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