Reinvigorating mission statement to enhance firm performance through CSR practices: evidence from Egyptian SMEs

Abstract

Although the mission statement has been long considered a vital strategic management tool, its impact on financial performance has not been firmly affirmed. Hence, this paper investigates the effect of mission statement drivers on the mission statement contents and firms’ financial performance. Furthermore, it examines the moderating role of Corporate Social Responsibility (CSR) in these relationships. Using the structural equation modelling method, based on a sample of 298 manufacturing SMEs operate in food production in Egypt, the study identified four main results. First, the contents of the mission statement can be seen as consequences of mission statement drivers. Second, the effect of the mission statement as a set of drivers on financial performance cannot be emphasized. Third, Trible Bottom Line (TBL) mission achieves its ends in terms of financial success. Finally, with respect to the African context particularly Egypt, the financial success can be enhanced by the mission statement through the firm’s commitment to CSR practices.

Knowledge visualisation and strategic decision-making outcomes in small and medium-sized enterprises

“…Additionally, the study contributes to the empirical examination of the theory of rational choice that depicts decision quality as dependent on decision maker's knowledge of the decision problem, available alternatives, and the consequences of applying each alternative [17], which can be facilitated through knowledge visualization. Finally, as the study is conducted in the context of SMEs, and as SMEs are viewed as mainly focusing on day to day activities and neglecting the startegic orientation [18][19][20][21], this study advances our knowledge of strategic decision-making in SMEs, by providing a significant empirical evidence on the impact of knoweledge visulaization on startegic decision-making processes, quality, and commitment in SMEs.…”

“…To test the proposed model, a quantitative questionnaire survey was developed and sent by post to 2,024 small and medium sized firms that operate in food production in Egypt. As food industry sector contributes 24.5% to Egyptian GDP and provides 23.2% of employment in Egypt [20,77], it is "the second largest in Egypt in terms of value added, and the largest in terms of industrial employment. It achieved an average growth rate of 20% during the fiveyear period from 2015 to 2020" [Egyptian Ministry of Trade and Industry, 2021].…”

Environmental pressures and eco-innovation in manufacturing SMEs: the mediating effect of environmental capabilities

“…Section 2: Eco-innovation. Adapted from Peng & Liu (2016) and Mady et al (2022) Our firm often emphasises developing new eco-products through new technologies to simplify their packaging. 1 2 3 4 5…”

“…Thirdly, SMEs have frequently constituted the backbone of economic growth and well-being, especially for emerging economies. As for Egypt, the importance of SMEs can be proven by the fact that this sector accounts for more than 90% of the private sector and employs around 70% of the country’s workforce (Abdelkareem and Mady, 2022; Smair, 2016). This sector also contributes to Egypt’s GDP reaching approximately 80% (Aboelmaged, 2018).…”