Answer to Question #246725 in Management for Unknown346144

Question

‘‘Mission Statement Provide efficient and customer focused domestic and international banking services, overcoming the continuous challenges for excellence through the application of appropriate technology.’’
Please Evaluate, using the above elements of mission statement under each component?
1. Customer
2. Product/Service
3. Market
4. Technology
5. Concern for Survival, Growth and Profitability
6. Philosophy
7. Self-Concept
8. Concern for Public image
9. Concern for Employees

Answer 1

1. Customer

Mission statement enlightens customers on what the company focuses to achieve. Thus influencing their decision towards the firm's products

2. Product/Service

It improves the product visibility on the market

3. Market

Mission statement informs the market about the firm's operations and increases PR

4. Technology

It enables the company to focus on utilizing the most recent technology to improve its operations and remain innovative.

5. Concern for Survival, Growth and Profitability

Mission statement increases the profitability and growth of an organization since it gives works the urge to remain focused on the firm's goals.

6. Philosophy

It ensures that the company remains valid in the market

7. Self-Concept

It allows the company to formulate self-concept that would enable it to stand out as unique and viable on the market

8. Concern for Public image

It enables the company to maintain a reputable public image

9. Concern for Employees

It increases the enthusiasm among workers allowing them to execute their duties and responsibilities appropriately