Sustainability dimensions in the mission, vision and value statements of the largest corporations in Ghana: a sectoral analysis

Abstract

Purpose

The purpose of this paper is to compare how the various sectors among the largest companies in Ghana have incorporated sustainability into their mission, vision and value statements.

Design/methodology/approach

The mission, vision and value statements of the 100 largest corporations in Ghana, known as Ghana Club 100 (GC100), were extracted from the firms’ official websites. These firms were grouped into nine sectors, and the sustainability components in the mission, vision and value statements were subjected to cross tabulation and thematic contents analysis to establish the sectoral variations.

Findings

In formulating their mission, vision and value statements, GC100 firms were more than six times likely to include economic sustainability themes than environmental sustainability themes. Even though three out of every five GC100 firms are financial institutions, the manufacturing and the extractive sectors and firms ranked 1st−20th are three times likely to incorporate all the sustainability dimensions (i.e. economic, social and environmental) into their mission, vision and value statements. Firms in the financial sector and those ranked 80th−100th were more likely not to publish either a mission, vision or value statements online.

Practical implications

This study reveals the magnitude of the strategic pronouncements such as mission, vision and value statements of large firms in emerging economies and how they are aligned with sustainability. This could serve as a basis for formulating guidelines to reinforce efforts that contribute to corporate sustainability.

Originality/value

Research on how large firms align sustainability into their mission, vision and value statements is not a new agenda, but fragmented in the context of the emerging economies. The novelty is that this study addresses this gap and contributes to this topic from a sectoral comparative perspective of largest organization in Ghana, an emerging economy.

Citation

Marfo, E.O., Amoako, K.O., Arthur, J.L. and Yankey, N. (2024), "Sustainability dimensions in the mission, vision and value statements of the largest corporations in Ghana: a sectoral analysis", International Journal of Law and Management, Vol. 66 No. 5, pp. 624-645. https://doi.org/10.1108/IJLMA-08-2023-0169