This assignment is prepared to find out the mission, vision and value statements of some organizations from different industries. In this assignment I will also try to find out whether these firms put emphasize on quality in their vision and mission statement. This report looked into the mission, vision and value statements of McDonald’s, Bank of America, Rangs Group, BRAC University and IBA, University of Dhaka. Mission statement
A mission statement defines the organization’s purpose and primary objective. Its function is internal; to define the key measure or measures of the organization’s success and its prime audience is the leadership team and stock holders. Vision statement
A vision statement’s purpose is to explain the organization’s key values and does not refer to bottom line figures. It tells how a particular company believes things should be done. Additionally, it also gives direction to customers and employees. A vision statement also tells where the organization is heading and how it will complete its operations Value statement
Value statement is an expression of a company’s or individual’s core beliefs. Companies write the statement to identify and connect with the consumer. Additionally, the declaration allows for the company’s staff to be aware of the priorities and goals of the company.
Mission and vision statement of different organizations
“McDonald’s brand mission is to be our customer’s favorite place and way to eat. Our worldwide operations are aligned around a global strategy called The Plan to win which centers on an exceptional customer experience- People, Products, Place, Price and Promotion. We are committed to continuously improving our operations and enhancing our customers’ experience” Value Statement
We place the customer experience at the core of all we do
We are committed to our people
We believe in the McDonald’s System
We operate our business ethically
We give back to our communities
We grow our business profitably
We strive continually to improve
McDonald’s doesn’t have a specific written vision statement. McDonald’s value statement specifically mentions the organizations commitment to quality service. McDonalds considers quality as key to ensuring positive consumer experience. McDonalds considers quality, commitment to its staff suppliers and shareholders, ethical business practices and CSR as integral to maintaining its spot as the industry leader.
IBA, University of Dhaka
“We strive to be visible among the respected business schools in the world, as we relentlessly pursue the goal of transforming the individual into a caring professional, who can make society just a little better” Comments
IBA does not have a specific mission and value statements. The vision statement of IBA does not make any mention of quality. However, the goals stated in the statement require a strong emphasis on quality in order to achieve them.
North South University
The vision of North South University (NSU) is to become a leading university and remain as a top center of excellence in higher education and research. It aims at attracting brilliant students, teachers, scholars, and from all over the world. Mission statement
The mission of NSU is to produce highly skilled manpower, visionary professional leaders and responsible and enlightened citizens. This mission is achieved by imparting high quality higher education, and training, and by conducting useful research so that individuals can achieve their intellectual, social, and personal potentials. NSU is committed to developing human capital by sharpening creative thinking. In addition to creation and dissemination of knowledge, its mission includes promotion of humanism and peace through higher education. As a social institution, NSU endeavors to induce changes for betterment of the society as a whole through public services, and through promotion of ethical behavior and social justice.
NSU emphasized on quality in their mission statement. They have stated several long term targets for their organization in their vision statement and they have planned to achieve those by imparting higher quality higher education.
Bank of America
“Bank of America is all about providing people, companies and institutional investors the financial products and services they need to help achieve their goals at every stage of their financial lives. Our deep experience, broad range of services and global capabilities allow us to deliver comprehensive solutions that help customers and clients succeed in today’s market and prepare for the future.” Vision Statement
“Our vision is to become the world’s finest financial services company.” Value Statement/ Core Values
We deliver for our customers, clients and shareholders.
We trust in our team.
We embrace the power of our people.
We act responsibly.
We promote opportunity.
Bank of America emphasized a lot about quality in their value statement. Bank of America’s core value statement makes a declaration of quality in the form
of consistency to all its constituents. Since, quality is considered a core value by the Bank of America;
Mission and Vision Statement
“Provide the population of Bangladesh with modern technology by offering quality products and proper after-sales-service through multi distribution channels to make their lives easier, more comfortable and convenient.The objective of our mission is by establishing a congenial working place with content employees and by offering quality products at reasonable prices we want to create a bond with every customer in order to maximize profit through perfect competition.” Comments
Rangs group does not have a formal value statement. Rangs group places high emphasis on providing quality products and after sales service to its consumers. The group mission and vision statements are stated together. Besides they have emphasized on the modernization of technology.