The Primacy of an Owner’s Mission

Massimo Massa (), Kai Taraporevala and Ludo Van der Heyden ()
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Massimo Massa: INSEAD

Chapter 2 in Value Creation for Owners and Directors, 2023, pp 21-59 from Springer

Abstract: Abstract The owner’s mission sets the purpose and direction of a company. Critically, it determines how owners perceive value produced by their corporate ownership. The ability of owners to determine the mission of the corporation they own is one of the fundamental characteristics distinguishing owner-led firms from publicly listed ones. Clearly set out missions provide a proper focus for companies and greatly enhance the chances of longer-term success. More specifically, a mission statement frames value creation as making progress on the mission crafted by the owners. The first task of an effective Owners’ Board is to ensure alignment on a mission, and to change it only when contextual factors force a change in the mission.

Keywords: owner’s mission; direction; alignment (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-19726-0_2

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DOI: 10.1007/978-3-031-19726-0_2

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