A Comparative Study on Vision, Mission statement, and Goals of World-Class Automotive Companies using Text mining Approach
Mohammad Mahdi Keshvari, Mohsen Shafiei Nikabadi · International Journal of Applied Management Science · 2024
This study explores the differences between the mission statements of Iranian and global automotive companies. This study identifies the gaps between the two by analysing the mission statements of fourteen international automakers and two Iranian automakers using Text Mining and K-means techniques. The analysis reveals that global companies are clustered into two groups based on the concepts of 'Custom' and 'Live'. In comparison, Iranian companies are clustered into two groups using the concepts of 'Benefit' and 'Abil'. The findings suggest that both foreign and Iranian companies tend to use vague concepts, but Iranian companies focus more on beneficence and company empowerment while prioritising the national market. Conversely, international companies prioritise enhancing customer satisfaction. This study highlights significant differences in the words used in Iranian and global automakers' vision and mission statements, emphasising the importance of understanding cultural nuances when creating these statements.