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Company Website Content and Revenue: Mission, Vision, Values, and Diversity, Equity, Inclusion in Fortune 1000 Companies
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Abstract
Companies worldwide create mission, vision, and values (MVV) statements to center their objectives, guide employees' behaviors and increase revenues. As more movement for societal reform takes place, companies started to emphasize diversity, equity, and inclusion (DEI) in their workplaces, and DEI has become an increasingly important factor for employee recruiting. In theory, MVV statements and DEI improvements should increase company performance as they push for more effective employee behavior and intellectual collaboration. This paper partially assess the truth of this theory by determining if Fortune 1000 companies' publicity of their MVV statements and DEI strategies correlate with their status as Fortune 500. Specifically, whether companies' mentioning of their MVV statements and DEI strategies on their website—where customers, employees, and potential employees obtain information about the company—correlate with their rankings on Fortune 1000. Through the aforementioned analysis, this paper found that Fortune 500 companies are more likely to include vision and values statements and possess a longer vision statement and more company values on their websites. This means it may be beneficial for companies looking to increase their revenues to include vision statements around length 8, the median vision statement length for the sampled Fortune 500 companies, and include around 4 company values, the median number of company values for the sampled Fortune 500 companies. Referencing the contents of this paper may assist companies seeking to improve their income.
Keywords
company website, fortune 500, mission, vision, values, diversity, equity, inclusion
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Cite this article
Wong,E. (2023). Company Website Content and Revenue: Mission, Vision, Values, and Diversity, Equity, Inclusion in Fortune 1000 Companies. Advances in Economics, Management and Political Sciences,7,171-179.
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