A Comparative Analysis of Mission and Vision Statements of Top Fortune Companies and Iranian Companies in Food Industry using Text Mining and Clustering

Subject Areas : Futurology

Mohsen  Shafei nik abadi ¹ (Assistant Professor, Department of Industrial Management, Faculty of Economics, Management and Administrative Sciences, Semnan University (Corresponding Athour) [e-mail])
Ata  Karbasi kheyr ² (Master of Science (MBA), Industrial Management, Faculty of Economics, Management and Administrative Sciences, Semnan University)

Received: 2017-06-10 Accepted : 2017-11-05 Published : 2018-01-21

Keywords: vision, Text mining, Food Industry, Mission Statement, Clustering,

Abstract :

Mission and vision statement have an important role in company’s strategic goals and direction, so content analysis of such documents has a positive influence on company’s success. Food industry, as a major means of meeting one of people’s most essential needs, requires to be improved. Therefore, we aimed to analyze the mission and vision statement of top food industry companies in Iran and the world to understand about similarities and differences in their strategic alignments. The current research is conducted on 53 companies from top 500 fortune list and 42 Iranian pioneer companies based on ministry of industry and mining list. We used text mining technique to process the documents and clustered them into distinct groups by K-Means algorithm. Finally, we ranked the important roots in each cluster using SAW method. Then, we compared the clusters based on their essential components. The findings indicate that while foreign companies focus on customers and image creation, Iranian companies care about products, development and stating general concepts.