Abstract

Well-designed vision and mission statements are essential for formulating, implementing, and evaluating strategy. Unfortunately, developing a powerful business vision and effective mission are the most commonly overlooked tasks in strategic management. The purpose of this study is to analyse the vision and mission statements of the food and beverage companies in terms of the ideal vision and mission components. The authors, using Pearce and David (1987)’s nine components of a comprehensive mission statement, subject to a content analysis of the mission statements and Kantabutra (2008)’s seven components of vision characteristics, subject to a content analysis of the vision statements of 10 food and beverage companies. The results of the research reveal that there are shortcomings in the mission statements of firms. On the other hand, it has been seen that the vast majority of firms can organize their vision statements in the desired way.