Wells Fargo’s mission statement
Wells Fargo’s mission statement states, “Helping customers succeed financially” Wells Fargo. (2020). In this mission, numerous shortcomings and practical elements are deducible. The statement describes both the identity and services offered by the company by introducing the aspect of finance, which implies that customers understand the nature of the company. Through this mission, anyone understands why the company exists. A good mission statement must show who the type of customers involved in the business, and this statement indicates that customers are financial holders. However, the statement does not depict the company’s beliefs, philosophies, or values. The mission also lacks self-concept, whereby it does not offer the company’s strengths or competitive advantages (Nagy & Fawcett, 2020). Wells Fargo mission also does not show concern for both employees and the public, by failing to acknowledge any environmental measures or treatment to employees. Finally, the mission does not depict steps for survival; it does not show financial soundness or growth in the future.
The company’s vision statement states, “To satisfy our customers’ financial needs and help them succeed financially” Wells Fargo. (2020). The vision shows future projections of the company, and thus indicates effectiveness in this manner. The vision is also specific because it presents a particular outcome associated with this company. The vision also shows ambitions for helping customers in the future (Nagy & Fawcett, 2020). Additionally, the vision also avoids words open to interpretation. However, the vision does not show simplicity. When someone who does not know the company reads the vision, it isn’t easy to understand the type of business the company deals conducts.
PART 2:
- To improve communities by providing financial help within three years of partnership.
- To provide financial assistance to our customers every year.
- To satisfy all our customers through exemplary services within a convenient time.