Absent in annual reports, just ten years ago, this short text has become a must; on a sample of 100 reports analysed in 2008, we found 91 reports containing a mission statement.
The importance of the mission statement is to quickly sketch an unknown company. It must allow to understand its activity but also its specific assets compared to other companies in the sector. Some companies also mention prior year information, but we find it preferable to limit the mission statement to its main “business card” role.
Its place is obviously at the beginning of the report, ideally on the flip cover or on the first page where it may precede the summary. As this text is usually very short (between 50 and 100 words), it is important to use a large enough font size that will enhance and add a welcoming graphic touch especially if it accompanies the summary.
Although the English phrase, "mission statement" is not used in any English report, it is in the German and Belgian reports, just like the term "Key figures" only can be found in English versions of reports written in French or German.
Some reports written in French also use the translation "profil ", "profil d’entreprise" or simply "mission". In many respects, the mission statement has no title and is not included in the summary. It is its position in the report and its content, which retrospectively characterises it as such.
We find this to be a mistake, because the target audience for annual reports is continuously increasing, and it is always useful for a company to present itself in case it would be dealing with a newcomer!
