Analysis of vision and mission statement

Topics: Business ethics, Corporate social responsibility, Social responsibility Pages: 12 (2662 words) Published: February 28, 2014
Introduction:
A Mission Statement defines the company's business, its objectives and its approach to reach those objectives. A Vision Statement describes the desired future position of the company. Elements of Mission and Vision Statements are often combined to provide a statement of the company's purposes, goals and values. Typically, senior managers will write the company's overall Mission and Vision Statements. Other managers at different levels may write statements for their particular divisions or business units. The development process requires managers to: Clearly identify the corporate culture, values, strategy and view of the future by interviewing employees, suppliers and customers Address the commitment the firm has to its key stakeholders, including customers, employees, shareholders and communities Ensure that the objectives are measurable, the approach is actionable, and the vision is achievable Communicate the message in clear, simple and precise language Develop buy-in and support throughout the organization

Mission and Vision Statements are commonly used to:
Internally
Guide management's thinking on strategic issues, especially during times of significant change Help define performance standards
Inspire employees to work more productively by providing focus and common goals Guide employee decision making
Help establish a framework for ethical behavior
Externally
Enlist external support
Create closer linkages and better communication with customers, suppliers and alliance partners Serve as a public relations tool
Methodology:
The banking industry of Bangladesh consists of 30 banks. From those, we have selected 10 banks in a random sampling basis. Those are – Bank Asia Limited
BRAC Bank limited
Export Import (EXIM) Bank
First Security Islami Bank
Jamuna Bank Limited
Mercantile Bank Limited
One Bank Limited
Premier Bank Limited
Shahjalal Islami Bank Limited
Trust Bank limited

Analyses:
Requirement # 01: Identify the companies’ respective vision and mission statements. I. Bank Asia Limited.
Vision:
Bank Asia’s vision is to have a poverty free Bangladesh in course of a generation in the new millennium, reflecting the national dream. Our vision is to build a society where human dignity and human rights receive the highest consideration along with reduction of poverty. Mission:

To assist in bringing high quality service to our customers and to participate in the growth and expansion of our national economy. To set high standards of integrity and bring total satisfaction to our clients, shareholders and employees. To become the most sought after Bank in the country, rendering technology driven innovative services by our dedicated team of professionals.

II. BRAC Bank Limited
Vision:
Building a profitable and socially responsible financial institution focused on Markets and Business with growth potential, thereby assisting BRAC and stakeholders build a “just, enlightened, healthy, democratic and poverty free Bangladesh. Mission:

Sustained growth in 'small & Medium Enterprise' sector
Continuous low cost deposit growth with controlled growth in Retained Assets Corporate Assets to be funded through self-liability mobilization. Growth in Assets through Syndications and Investment in faster growing sectors Continuous endeavor to increase fee based income

Keep our Debt Charges at 2% to maintain a steady profitable growth Achieve efficient synergies between the bank's Branches, SME Unit Offices and BRAC field offices for delivery of Remittance and Bank's other products and services Manage various lines of business in a fully controlled environment with no compromise on service quality Keep a diverse, far flung team fully motivated and driven towards materializing the bank's vision into reality

III. EXIM Bank Limited
Vision:
The gist of the bank’s vision is ‘Together Toward Tomorrow’. Export Import Bank of Bangladesh believes in togetherness with its customers, in its march...
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