Faculty Publications | Volume 1 | Number 2 | July-December 2016 | Pages 1 – 6
Received: July 2016 | Published unedited: November 2016
Parmindar Singh, PhD
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Business Ethics
Strategic Business Leader
CamEd Business School
SUMMARY
This article explains the characteristics, benefits of having a mission statement and the challenges faced in developing such a mission statement. An analysis of public-listed companies’ mission statement on the Cambodian stock exchange was undertaken and compared with the recommendation of Campbell and Yeung. This was followed by a simple financial analysis of return on capital employed between a firm that has a better mission statement as compared to another public listed firm whose mission statement was not as effective. Controlling for other variables, there may be a positive correlation between a firm’s mission statement and its financial performance.
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