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INTRODUCTION

A mission statement is a formal short written statement of the purpose of a company or

organization. It guides the actions of the organization, implies its overall goal, present a sense of
direction, and direct decision-making. It also gives "the framework or context within which the
company's strategies are formulated.

The mission statement should be a clear and concise representation of the enterprise's purpose for
existence. It should incorporate socially meaningful and measurable criteria addressing concepts
such as the moral/ethical position of the enterprise, public image, the target market,
products/services, the geographic domain and expectations of growth and profitability.

Therefore this study focuses on analyzing the mission statements of 20 companies in Sri Lanka
according to the following eight components which basically stays out the most important
aspects.

1. The Specification of Target Customers And Markets

2. The Identification of Principal Products/Service
3. The Specification of Geography Domain
4. The Identification of Core Technologies
5. The Expression of Commitment To Survival Growth And Profitability
6. The Specification of Key Elements In The Company Philosophy
7. The Identification of The Company Self Concept
8. The Identification of The Firm’s Desired Public Image

Thus my observations of the selected sample has been presented in the following format.

First I have presented the selection criteria through a composition analysis and then a component
analysis. The component analysis is presented based on ranking of the industries according to the
availability of each component.

Then I have done a comparison of each and every company under the each industrial category.
This comparison is presented in the paragraph format as well as in a table for the categories
which have only one company in my selection.

Afterward the replication study is presented based on the previous study of the given research
article.

Finally I have summarized my conclusion with the rank given to each component in the Sri
Lankan scenario and a grading to each company on number of components present in their
mission statement.
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SELECTION CRITERIA

Industry Number of Company name

Companies
Banking and Finance 5 Alliance Finance Company PLC
Commercial Bank PLC
Hatton National Bank
DFCC Bank
Seylan Bank
Manufacturers 4 Dankotuwa Porcelain Ltd.
Rocell (Royal Ceramics Lanka Ltd)
Kelani Cables PLC.
Nippolac Group of Companies
Communication 4 Sri LankaTelecom Mobitel
Sri LankaTelecom
Etislate
Dialog Telecom
Clothing 2 Fashion Bug
ODEL
Health Care 2 Ninewells Care Mother & Baby Hospital
(Pvt) Ltd.
Asiri Group of Hospitals
Tourism 1 Serendib Leisure Management Ltd

Construction 1 Access Engineering Pvt Ltd Engineering

Pvt Ltd
Supermarket Chain 1 Cargills PLC PLC
Total 20
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ANALYSIS

Herewith I present my observations on the presence of components in the each of the mission
statements I have selected in my sample.

Component No percentage Ranking

The specification of target customers and 7 35% 4

markets

The identification of principal 13 65% 1

products/service

The specification of geography domain 3 9.75% 8

The identification of core technologies 6 30% 5

The expression of commitment to survival 8 40% 3

growth and profitability

The specification of key elements in the 12 60% 2

company philosophy

The identification of the company self 4 20% 7

concept

The identification of the firm’s desired 6 30% 5

public image
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COMPARISON OF THE COMPONENTS OF THE MISSION

STATEMENTS WITHIN THE COMPANIES OF SAME INDUSTRY

Banking and Finance

As I have selected five companies in the Banking and the finance sector , I would like to
start the comparison with them. So if we take the first component “The specification of
target customers and markets” none of the companies have clearly mentioned their target
customers and the market instead of that one of the companies mentioned that they are
going to provide personalized service.

When it comes to the “The identification of principal products/service” three companies

have included this component . for example one has mentioned they offer custom
designed financial solution while another company superior financial solutions and
nurture business enterprises and Commercial Bank just mentioned that they offer
financial services.

The third component of “The specification of geography domain” can be hardly seen in
this sector as well as the fourth component of “The identification of core technologies”
can be seen in only one company. The Hatton National Bank gives a vague implication
that they use the leading edge technology.

The Hatton National Bank also specify that their commitment to exceed stakeholder
expectations marking the existence of the fifth component of “The expression of
commitment to survival growth and profitability”.

“ The specification of key elements in the company philosophy” can be seen in DFCC
Bank as well as the Seylan Bank according to my observations.

“the identification of companies self concept can be seen in the Alliance Finance Co. Ltd
by the expressions like “trusted and personalized touch”. They also define the way of
their desired public image by mentioning about the “client oriented staff” in a way while
the Seylan Bank wants us to see them as a company who exceed the customer
satisfaction

Manufacturers

My observation highlights that the manufacturers have majored the components of “The
expression of commitment to survival growth and profitability” and “The specification of
key elements in the company philosophy” by having three companies mentioned both
factors from the sample of four companies. They have the remarks like “adequate returns
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to all stake holders” in terms of the expression of survival and growth and expressions
like “optimum value to our stakeholders.

Only the Rocell (Royal Ceramics Lanka Ltd) has specified their customer community as
“home and commercial builders” while the Kelani Cables PLC has the only remark on
the companies self concept in this industrial category.

The Dankotuwa Porcelain Ltd.defines their principle product as “art of dining” and
Nippolac Group of Companies define their product as “industrial and other ancillary
paint products”.

Communication

Out of the four companies in my selection there are two companies which specify their
target market one as “the people who want to stay in touch” and the second as “to all
sectors of the nation” .

The Sri Lanka Telecom Mobitel says their commitment to survival growth and
profitability is as “to lead” and the Sri Lanka telecom and dialog telecom gives the idea
of technology by using the words like most modern telecommunication facilities and
leading edge technology.

Three of the communication sector companies implies their philosophy by expressions

like “service oriented work ethics” and “3 A’s Affordability, Accessibility And
Availability”

The implication of their product is given by Sri Lanka Telecom and Dialog Telecom.

Clothing

The two companies I have selected in this sector provides the idea of their target
customers by expressions like “society” and “customers with an unparalleled selection of
fashion right and lifestyle”.

Fashion Bug also mentioned about their products by “superior products and services
with affordable price by developing own brands” and the ODEL define their desired
public image as” an environment that is enjoyable, welcoming and that encourages
customers”

And the component of “The expression of commitment to survival growth and

profitability” can be seen in the “Fashion Bug” with the remark of “investors with a
superior rate of return.”
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Health Care

Ninewells Care Mother & Baby Hospital (Pvt) Lt.d and Asiri Group of Hospitals are in
my sample under the industy of health care.

From those two companies Ninewells Care Mother & Baby Hospital (Pvt) has clearly
mentioned their target customer as “women and children.” And they also mentioned
about their services like “first choice for physicians and health care professionals of the
highest quality and greatest expertise” by fulfilling the second component of mentioning
the product or the service.

The Ninewells Care Mother & Baby Hospital (Pvt) Ltd also point out their use of latest
technology and their philosophy of providing” facilities and services which promote the
highest quality care, and comfort.”

Asiri Group of Hospitals have used only two components. They are “The identification
of principal products/service”” The specification of key elements in the company
philosophy”.

Tourism, Construction, Supermarket Chains

Since these industrial categories have only one company in the sample, I present their
comparison as follows.

REPLICATION
Component STUDY Industry
Tourism- Serendib Construction - Access Supermarket Chains -
Leisure Engineering Pvt Ltd Cargills PLC
Management Ltd
The specification of target 
customers and markets
The identification of principal  
products/service
The specification of geography   
domain
The identification of core 
technologies
The expression of commitment 
to survival growth and
profitability
The specification of key   
elements in the company
philosophy
The identification of the 
company self concept
The identification of the firm’s
desired public image
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PREVIOUS STUDY REPLICATION STUDY

COMPONENT PERCENTAGE RANKING PERCENTAGE RANKING

The specification of target 48% 6 35% 4

customers and markets

The identification of principal 67% 5 65% 1

products/service

The specification of 41% 7 9.75% 8

geography domain

The identification of core 20% 8 30% 5

technologies

The expression of 90% 1 40% 3

commitment to survival
growth and profitability

The specification of key 79% 3 60% 2

elements in the company
philosophy

The identification of the 77% 4 20% 7

company self concept

The identification of the 87% 2 30% 5

firm’s desired public image

CONCLUSION
As far as my observations are concerned Sri Lankan companies tendency of using the considered
components are as follows.
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Component No of percentage Ranking

Companies

The identification of principal products/service 13 65% 1

The specification of key elements in the company philosophy 12 60% 2

The expression of commitment to survival growth and 8 40% 3

profitability

The specification of target customers and markets 7 35% 4

The identification of core technologies 6 30% 5

The identification of the firm’s desired public image 6 30% 5

The identification of the company self concept 4 20% 7

The specification of geography domain 3 9.75% 8

GRADING OF THE COMPANIES

GRADE REQUIREMENT
A MORE THAN 4 COMPONENTS
B MORE THAN 3 COMPONENTS
C MORE THAN 2 COMPONENTS
D MORE THAN 1 COMPONENTS
E AT LEAST 1 COMPONENT

INDUSTRY COMPANY NAME COMPONENT RANKING

OF THE
(RANKED ACCORDING COMANY
TO MY OBSERVATIONS)

1 2 3 4 5 5 7 8
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T I

Banking and Alliance Finance Company PLC C

Finance
Commercial Bank PLC E

Hatton National Bank D

DFCC Bank D

Seylan Bank B

Manufacturers Dankotuwa Porcelain Ltd. C

Rocell (Royal Ceramics Lanka B

Ltd)
Kelani Cables PLC. C

Nippolac Group of Companies C

Communication Sri LankaTelecom Mobitel C

Sri LankaTelecom B

Etislate C

Dialog Telecom C

Clothing Fashion Bug C

ODEL D

Health Care Ninewells Care Mother & Baby A

Hospital (Pvt) Ltd.
Asiri Group of Hospitals E

Tourism Serendib Leisure Management Ltd A

Construction Access Engineering Pvt Ltd C

Supermarket Chain Cargills PLC PLC B

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