Formulating Mission: How Perceptions of Corporate Purpose Affect the Formulation of the Mission
The aim of this article is research of the relationship between firm´s purpose and formulation of mission. The
article is based on quantitative research in form of questionnaires distributed between companies in the Czech Republic. We
have verified two hypotheses: (1) Is there a statistically significant difference between articulating a mission and firm´s
purpose; (2) Is there a statistically significant difference between specific expression of the mission and firm´s purpose. We
revealed a statistically significant difference between perception of firm´s purpose and formulation of their mission. On the
other hand, no statistically significant differences were noticed between concrete mission interpretation and firm´s purpose.
Given that more than 60% of companies perceive their purpose in the form of profit (make money), we can interpret this
finding as one of the main reasons for the absence of mission in more than a quarter of companies surveyed.
Index Terms - Articulating A Mission, Firm´S Goal, Profit, Purpose Of Firms, Shareholder Value, Service To Society