Main Article Content

The present study discusses the effective functionality of mission and vision statements in a business environment. In this spirit, the study evaluates the potential association between these two strategic elements and the achievement of organizational results, especially in terms of the competitive capacity of a company. Particularly, the study formulates a conceptual approach to determine the potential incidence of a mission and a vision statement's quality on the organizational levels of value appropriation. Subsequently, using structural equation modeling through partial least squares, this approach is evaluated on a sample of 120 large companies registered in the Department of Santander, Colombia. The findings suggest that, although there is a positive association between a good mission and a good vision, the value appropriation only seems to depend on the former and not on the latter. The study validates that an adequately constructed mission statement could become a powerful mechanism for the sake of formulating and implementing strategies. Additionally, it states that the ability to build a quality mission is related to the company's ability to create appropriate value and be competitive.

Contreras-Pacheco, O. E., Pirazán Parra, A., & Villarreal Pinzón, M. (2022). Mission, Vision, and Value Appropriation: A Correlational Analysis. Cuadernos De Administración. Retrieved from //cuadernosdeadministracion.univalle.edu.co/index.php/cuadernos_de_administracion/article/view/11955

Alegre, I., Berbegal-Mirabent, J., Guerrero, A., & Mas-Machuca, M. (2018). The Real Mission of the Mission Statement: A Systematic Review of the Literature. Journal of Management and Organization, 24(4), 456–473. https://doi.org/10.1017/jmo.2017.82

Baetz, M. C., & Bart, C. K. (1996). Developing Mission Statements Which Work. Long Range Planning, 29(4), 526–533. https://doi.org/10.1016/0024-6301(96)00044-1

Bartkus, B., Glassman, M., & McAfee, R. B. (2006). Mission statement quality and financial performance. European Management Journal, 24(1), 86–94. https://doi.org/10.1016/j.emj.2005.12.010

Baum, J. R., Locke, E. A., & Kirkpatrick, S. A. (1998). A Longitudinal Study of the Relation of Vision and Vision Communication to Venture Growth in Entrepreneurial Firms. Journal of Applied Psychology, 83(1), 43–54. https://doi.org/https://doi.org/10.1037/0021-9010.83.1.43

Berbegal-Mirabent, J., Mas-Machuca, M., & Guix, P. (2021). Impact of Mission Statement Components on Social Enterprises’ Performance. Review of Managerial Science, 15(3), 705–724. https://doi.org/10.1007/s11846-019-00355-2

Bowen, S. (2018). Mission and Vision. In R. L. Heath & W. Johansen (Eds.), The International Encyclopedia of Strategic Communication. Hoboken, NJ: John Wiley & Sons, Inc. https://doi.org/10.1002/9781119010722.iesc0111

Brandenburger, A. M., Harborne, W., & Stuart, J. (2015). Value-Based Strategy. Wiley Encyclopedia of Management. https://doi.org/10.1002/9781118785317.weom120154

Brătianu, C., & Bălănescu, G. V. (2008). Vision, mission and corporate values. A comparative analysis of the top 50 U.S. companies. Management & Marketing, 3(3), 19–38. http://www.managementmarketing.ro/pdf/articole/108.pdf

Cámara de Comercio de Bucaramanga. (2020). Compite 360 - Windows/Mac. Colombia. https://www.compite360.com/

Carton, A. M., Murphy, C., & Clark, J. R. (2014). A (Blurry) Vision of the Future: How Leader Rhetoric about Ultimate Goals Influences Performance. Academy of Management Journal, 57(6), 1544–1570. https://doi.org/10.5465/amj.2012.0101

Chan, S. H., & Lay, Y. F. (2018). Examining the reliability and validity of research instruments using partial least squares structural equation modeling (PLS-SEM). Journal of Baltic Science Education, 17(2), 239–251. https://doi.org/10.33225/jbse/18.17.239

Collins, J. C., & Porras, J. I. (1996). Building your Company’s Vision. Harvard Business Review, 74(5), 65–77. https://hbr.org/1996/09/building-your-companys-vision

Degefu, G., & Ayeneu, M. (2007). Performance Impact of Mission Statements in Ethiopian Business enterprises: An empirical evaluation. Addis Ababa University, Ethiopia.

Dettori, J. R., & Norvell, D. C. (2020). Kappa and Beyond: Is There Agreement? Global Spine Journal, 10(4), 499–501. https://doi.org/10.1177/2192568220911648

Dobrinić, D., & Fabac, R. (2021). Familiarity with Mission and Vision: Impact on Organizational Commitment and Job Satisfaction. Business Systems Research: International Journal of the Society for Advancing Innovation and Research in Economy, 12(1), 124–143. https://hrcak.srce.hr/ojs/index.php/bsr/article/view/17341

Fitzsimmons, A. B., Qin, Y. S., & Heffron, E. R. (2022). Purpose vs mission vs vision: persuasive appeals and components in corporate statements. Journal of Communication Management, 26(2), 207–219. https://doi.org/10.1108/JCOM-09-2021-0108

Fred, R. D. (2003). Strategic Management: A Competitive Advantage Approach, Concepts and Cases (14th. Ed.). London: Pearson Education, Inc.

Gulati, R., Mikhail, O., Morgan, R. O., & Sittig, D. F. (2016). Vision statement quality and organizational performance in U.S. hospitals. Journal of Healthcare Management, 61(5), 335–350. https://doi.org/10.1097/00115514-201609000-00007

Hair, J. F., Hult, G. T., Ringle, C. M., & Sarstedt, M. (2022). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM). (3rd Ed). Thousand Oaks: SAGE Publications, Inc.

Hoffmann, W., Lavie, D., Reuer, J. J., & Shipilov, A. (2018). The interplay of competition and cooperation. Strategic Management Journal, 39(12), 3033–3052. https://doi.org/10.1002/smj.2965

Ismail, S., Malone, M. S., & Van Geest, Y. (2016). Organizaciones Exponenciales. Madrid: Bubok Publishing S.L.

Jing, F. F., Avery, G. C., & Bergsteiner, H. (2014). Enhancing Performance in Small Professional Firms through Vision Communication and Sharing. Asia Pacific Journal of Management, 31(2), 599–620. https://doi.org/10.1007/s10490-013-9345-9

Khalifa, A. S. (2011). Three Fs for the mission statement: what’s next? Journal of Strategy and Management, 4(1), 25–43. https://doi.org/10.1108/17554251111110104

Kirkpatrick, S. A. (2017). Understanding the Role of Vision, Mission, and Values in the HPT Model. Performance Improvement, 49(2), 46–47. https://doi.org/10.1002/pfi.21689

Knikker, J. (2021). How to Win Work. London: RIBA Publishing.

Laser, J. (2021). The importance of vision statements for human resource management – functions of human resource management in creating and leveraging vision statements, 20(4), 145–147. https://doi.org/10.1108/SHR-05-2021-0023

Leuthesser, L., & Kohli, C. (1997). Corporate identity: The role of mission statements. Business Horizons, 40(3), 59–66. https://doi.org/10.1016/S0007-6813(97)90053-7

López-Morales, J. S., & Ortega-Ridaura, I. (2016). International Strategy of the 500 Largest Firms in Latin America: An Analysis from its Mission and Vision. Problems and Perspectives in Management, 14(3), 634–641. https://doi.org/10.21511/ppm.14(3-3).2016.06

Lowry, P. B., & Gaskin, J. (2014). Partial Least Squares (PLS) Structural Equation Modeling (SEM) for Building and Testing Behavioral Causal Theory: When to Choose It and How to Use It. IEEE Transactions on Professional Communication, 57(2), 123–146. https://doi.org/10.1109/TPC.2014.2312452

Miguel, P. L. S., Brito, L. A. L., Fernandes, A. R., Tescari, F. V. C. S., & Martins, G. S. (2014). Relational value creation and appropriation in buyer-supplier relationships. International Journal of Physical Distribution and Logistics Management, 44(7), 559–576. https://doi.org/10.1108/IJPDLM-09-2012-0291

Mittal, V., & Srihari, S. (2021). The Inspirational Executive: Strategy Planning Through Mission, Vision, and Values. In V. Mittal & S. Sridhar (Eds.), Focus: How to Plan Strategy and Improve Execution to Achieve Growth (pp. 47–79). Cham, Switzerland: Palgrave Macmillan. https://doi.org/10.1007/978-3-030-70720-0_4

Ortiz-Anaya, H. (2018). Análisis Financiero Aplicado Bajo NIFF. Bogotá: Universidad Externado de Colombia.

Pearce, J. A., & David, F. (1987). Corporate Mission Statements: The Bottom Line. Academy of Management Executive, 1(2), 109–116. https://doi.org/10.5465/AME.1987.4275821

Porter, M. E. (1989). The Competitive Advantage: Creating and Sustaining Superior Performance. New York: Free Press.

Powers, E. L. (2012). Organizational Mission Statement Guidelines Revisited. International Journal of Management & Information Systems, 16(4), 281. https://doi.org/10.19030/ijmis.v16i4.7304

Sofijanova, E., & Marjanova, T. J. (2014). Corporate Mission Statement and Business Performance: Through the Prism of Macedonian Companies. Balkan Social Science Review, 3, 179–198. https://js.ugd.edu.mk/index.php/BSSR/article/view/865/837

Vanguardia. (2019). Revista 500 Empresas Generadoras de Desarrollo en Santander. (16a Ed.). Bucaramanga. http://www.vanguardia.com/empresasgeneradoras/

Yadav, N., & Sehgal, V. (2019). India’s Super 50 companies and their mission statement: a multifold perspective. Journal of Strategy and Management, 12(2), 208–226. https://doi.org/10.1108/JSMA-08-2018-0082