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Sustainability 2016, 8(7), 698; doi:10.3390/su8070698

The Sustainable Strategy for Small and Medium Sized Enterprises: The Relationship between Mission Statements and Performance

1
Dokuz Eylul University, 35160 Buca, Izmir, Turkey
2
Dokuz Eylul University, 35680 Foca, Izmir, Turkey
3
University of Rome “Tor Vergata”, 00133 Rome, Italy
*
Author to whom correspondence should be addressed.
Academic Editor: Giuseppe Ioppolo
Received: 7 March 2016 / Revised: 2 July 2016 / Accepted: 4 July 2016 / Published: 21 July 2016
(This article belongs to the Section Economic, Business and Management Aspects of Sustainability)
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Abstract

The study aims to contribute to the literature by empirically examining the relationship between small and medium sized enterprises’ (SMEs) mission statements and their performance in sustainable strategy formulation. Although it seems that there is a relatively vast amount of research with regard to mission statements of companies, very few studies have focused on the relationship between mission statements and performance. When these few studies are taken into consideration, it is difficult to reach any overall conclusion since their findings are mixed and inconclusive. To achieve this aim, 3034 SMEs operating in organized industrial zones in Turkey were examined via a survey approach. In order to investigate the relationships among the variables, nine categories of mission statements as independent variables and four performance indicators (financial, market, production, and overall) as dependent variables were analyzed through logistic regression. This study identified three mission components, (1) survival, growth, and profit; (2) philosophy and values; and (3) public image, as the common independent variables in explaining the performance of SMEs. Survival, growth, and profit is the most frequently observed mission component regardless of the subsector differentiation in the entire sample, which reflects the significance of business sustainability for SMEs in the Turkish manufacturing context. Besides, among all performance indicators, SMEs’ market performance was found to be the lowest when compared to other performance indicators (financial, production, overall). Although the firms were placed in different manufacturing subsectors, similar mission statements were highlighted so that the discourse similarity might be considered as evidence of isomorphism characteristics for SMEs. View Full-Text
Keywords: mission statement; performance; sustainability; SMEs; strategy mission statement; performance; sustainability; SMEs; strategy
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Duygulu, E.; Ozeren, E.; Işıldar, P.; Appolloni, A. The Sustainable Strategy for Small and Medium Sized Enterprises: The Relationship between Mission Statements and Performance. Sustainability 2016, 8, 698.

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