Content Analyses on Mission Statements of the Commercial Banks in Kyrgyzstan

Abstract

The concept of mission is still popular both in academic environment and business practices. Mission statements have been accepted as an important part of the strategic management process for organizations of all types; be it public sector, not-for-profit, private, for profit, a multinational or a SME. This paper aims to study the content of mission statements of Top10 commercial banks in Kyrgyzstan. The main objective of this study is to identify whether the mission statements of commercial banks contain components suggested Pierce and David (1987) and Bart and Tabone (1999). Data was based on content analysis of the mission statements and other related statements found on commercial banks’ web sites. Another secondary data on general profile of commercial banks are obtained from their web-sites and other open to public resources. The results show all (11) numbers of components are not incorporated in the mission statements of commercial banks totally. According to obtained data it was done Top 3 rating of commercial banks according to their mission statements. The level of popularity of mission statement components displays the following: products or services, geographic location, statement of purpose and customers are the most of frequent occurrence components. Components like concern for public image, concern for growth and profit, and philosophy are less popular mission components. In the future this study can throw fresh light on researches on other industries and to make relationship between good mission statements and the performance of commercial banks.

Analysis of the level of disclosure of the mission statements of large Brazilian companies,

“…The analysis of Table 2 indicates that 56.4% of the companies omitted the SGP construct in their mission statements; that is, most were silent regarding the expectations for growth, profitability, and survival. This may be explained by the lack of concern about the effect of future events on organizational growth or the companies being more orientated toward the short term (Najimudinova, 2018). This omission percentage is higher than that of Mussoi et al (2011), who, for a sample of 140 publicly-traded Brazilian companies, identified that 42% did not disclose the SGP construct.…”

“…The absence of the SGP construct in a mission statement indicates little strategic concern about the company's continuity, future, and growth (Najimudinova, 2018). Moreover, the lack of will to maximize profit and/ or minimize possible losses (Demsetz, 1997) may be sufficient reason for not mentioning the construct.…”