Corporate Reporting

A key to economic success is that a company should be clear about its purpose. Existing methods of reporting company performance have proved inadequate. The missing link could be incorporating mission statements to share the mission/purpose of the organization with the end‐users. Describes the essential features of mission statements using 13 variables. Reports on research into about 200 UK‐based European companies. Analyses their scores in terms of the 13 variables, and finds they leave much to be desired. Concludes that, for company reporting to be improved, a TQM approach needs to be adopted.