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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 therefore, be competitive.

Orlando E. Contreras-Pacheco, Universidad Industrial de Santander

Professor, School of Industrial Engineering and Management Universidad Industrial de Santander, Bucaramanga, Colombia. Industrial Engineer, Universidad Industrial de Santander, Colombia, Doctor in Management, Rennes School of Business, Rennes, France, Researcher, Finance & Management Research Group (F&M), Universidad Industrial de Santander, Colombia. 

Alejandra Pirazán Parra, Universidad Industrial de Santander

Researcher, Finance & Management Research Group (F&M), School of Industrial Engineering and Management Universidad Industrial de Santander, Bucaramanga, Colombia. Industrial Engineer, Universidad Industrial de Santander, Colombia.

Maira Villarreal Pinzón

Researcher Finance & Management Research Group (F&M), School of Industrial Engineering and Management Universidad Industrial de Santander, Colombia. Industrial Engineer, Universidad Industrial de Santander, Colombia. 

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