This study explores the mission statement–performance relationship of 247 Philippine-listed firms by employing the practical component and theoretical stakeholder approaches to studying mission statements. Using content and regression analyses, results indicate that: (1) the existence of a mission statement and the inclusion of customer in the statement are positively and significantly associated with performance; and (2) the inclusion of society and public image is negatively and significantly associated with performance. Aside from contributing to the growing body of theory-based, quantitative research on mission statements, this study offers another view within an emerging market context. Furthermore, it reinforces the value of having a mission statement and the importance of acknowledging salient and dominant stakeholders in the statement.

A mission statement is a widely used strategic tool that emphasises an organisation’s uniqueness and identity. It was in the early 1980s that academics, managers, and consultants recognised the need for explicitly formulating a mission statement in organisations. Since then, mission statements have remained as a popular strategic tool in organisations. This article conducts a systematic literature review to synthesise research on mission statements. The analysis of the 53 articles selected includes a bibliometric and content analysis. According to their perspective, the works selected were grouped into four thematic areas: (1) mission statement development, (2) mission statement components, (3) mission impact on employees, and (4) mission impact on performance. The overreaching conclusion is that mission statements are widely used in practice but poorly researched in theory. Most articles adopt a managerial phenomenon-based strand, lacking a deep theoretical foundation. The article ends with suggestions for further research in terms of theory, practice, and methodology.

This paper examines what land grant colleges of agriculture were designed to be and do and, using their published mission statements, discusses what they now claim to be and do. Teaching ‘such branches of learning as are related to the agriculture and the mechanic arts’ and ‘to promote the liberal and practical education of the industrial classes’ is what land grant colleges were designed to do; it is the land grant mission. The paper asks whether these things are what land grant colleges of agriculture do now. The original mission has been amended with new challenges that must be met in a time of declining public support for higher education, societal distrust of science and a negative public perception of agricultural technology, in a culture that wants cheap food. The agricultural community, including colleges of agriculture, has been slow to accept the challenges and opportunities inherent in the questions agriculture now faces. Agriculture remains an essential human activity in our post-industrial, information-age society. Colleges of agriculture are in trouble, and this paper suggests that the sensible thing to do may be to turn away from self-interest in survival to take a leadership role with emphasis on the obligations of service and humanism.