This paper aims to compare the mission statements of Indian and Singaporean firms in the healthcare sector, and define the main components of Indian and Singaporean mission statements.
The study was based on a network analytic approach and content analysis. The research was performed on 200 companies (100 Indian companies and 100 Singaporean companies). For each company, we searched for a mission statement published in the company website. Nonnegative Matrix Factorization (NMF) in Python programming language was utilized to obtain the differences in the components of mission statements between Indian and Singaporean firms.
The study results indicate a similarity and variation between Indian and Singaporean mission statements. Both countries are more concerned about patients, service, community, quality, and healthcare in their mission statements, but Indian mission statements emphasize quality, affordable price, and technology more than Singaporean firms. In contrast, Singaporean mission statements tend to highlight innovation and company value. This research will assist strategic managers in identifying the mission statement components and choosing the right strategy for the organization.
This study contributes to the literature and ethos theory by identifying and distinguishing the paramount differences between the Indian and Singaporean mission statement components in the healthcare sector.
