Bank of America Mission Statement and the Purpose of Mission Statements


Bank of America mission statement: Our mission is to offer lending and investment products that
• Serve low- and moderate-income individuals and families
• Improve underserved low- and moderate-income communities
• Create sustainable practices for the long haul


What is a mission statement?

A mission statement is an official, written declaration that defines the fundamental function of a business, its values and goals. Mission statements are designed to be used as a guide to develop company strategies. See the Bank of America mission statement above for an example.

The purpose of a mission statement

The purpose of a mission statement is to define the company's objectives, list key stakeholders and the company's responsibilities to these stakeholders as well as core products or services. Every organization should create a mission statement to advertize to the world the benefits of doing business with it.

Click on these links for more information on mission statements:

To write a company mission statement you should describe what your business does, why It does this, how it operates and include principle values. In essence, you need to encapsulate the passion behind your business.

Personal mission statements help employees define their personal values and goals to map a career path and outline steps for success.

Team mission statements are used to motivate and guide employees. Companies should include staff input when developing a team mission statement. This is an important tool in identifying primary functions and encourages strategic thinking and employee commitment to the overall success of the company. To write a mission statement you could create a work group tasked to should choose a significant theme and focus on the main attributes of a product or service. The focal points should include statements of purpose, strategy, values and standards.

For ideas go online to view sample mission statements and tips on how to create a mission statement. Bank of America mission statement is a good example.

Examples of mission statements

A good sample mission statement is the Nike mission statement:
To experience the emotion of competition, winning and crushing competitors'. This ideology has been creatively carried over to their corporate slogan ‘Just do it'.

Other examples of company mission statements are the Bank of America mission statement: ‘To be the most admired bank'.

Starbucks mission statement: ‘To inspire and nurture the human spirit— one person, one cup, and one neighborhood at a time'.

Ford mission statement: ‘Our Vision To become the world's leading consumer company for automotive products and services'

Wal Mart mission statement which is ‘to help people save money so they can live better'.

An example of a more detailed mission statement than the Bank of America mission statement is Dells mission statement: ‘Dell's mission is to be the most successful computer company in the world at delivering the best customer experience in markets we serve.' In doing so, Dell will meet customer expectations of:

Whatever format you chose, a good mission statement should be concise and be designed for maximum impact.

› Mission Statements

Communication Methods and Tools

Employee Engagement

Employee
Recognition

Employee
Retention

Workplace Communication Campaigns

Sign up for our ideas newsletter
Email

Name

Then

Don't worry -- your e-mail address is totally secure.
I promise to use it only to send you Workplace Communication Ideas.

[?] Subscribe To This Site

XML RSS
follow us in feedly
Add to My Yahoo!
Add to My MSN
Subscribe with Bloglines

Sign up for our ideas newsletter

Email

Name

Then

Don't worry -- your e-mail address is totally secure.
I promise to use it only to send you Workplace Communication Ideas.

Bookmark and Share

Communication in an organization is essential for behavior modification and to create awareness on a variety of staff issues.quoted text