Significance of Effective Mission Statements in Business Performance

The purpose of this study was to examine the extent to which mission statements contribute to profit performance to organizations where by two commercial banks (Credit and Rural Development Bank and Bank Of India(T) Limited) were taken as comparative case studies. The main assumption was that; there are aspects of the mission statements that contribute to the performance of the profit organizations. Data collection involved administration of questionnaires to the employees of the two banks and conducting unstructured interviews with the management of the two banks. Moreover the researcher interpretively dealt with documents including both operational and financial reports of the two banks.