Analysis of Hlb's Mission Statement

Analysis of HLB’s 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. Unfortunately, it is surprised to find out that Hong Leong Bank only possesses a vision statement but not both vision and mission statement. Their vision statement is “An Outstanding Financial Services Organization, Highly Competitive and Profitable, Where People Make the Difference”.

Hence, I would like to create a mission statement for Hong Leong Bank. For instance, the mission statement will be “Hong Leong Bank will be the preferred provider of targeted financial service in our communities based on strong customer relationships to consistently provide goods and services of the highest quality at affordable prices. We will achieve superior levels of financial performance with honor by combining our technology, expertise and financial strength. We would like to create customer loyalty, shareholder value, employee satisfaction and wealth for the betterment of society.”

A good mission statement consists of nine essential components, which are customers, products or services, markets, technology, concern for survival, growth, and profitability, philosophy, self-concept, concern for public image and concern for employees.

In the first sentence of the sample mission statement, it is clearly stated that Hong Leong Bank is a provider of financial service. The citizens will get to know the kind of business that is conducted by the bank from the mission statement. Their targeted customers will be in the communities that they served. Besides, their competitive advantages are the high quality goods and services and the strong customer relationship which might be lack in some competitors. There are four essential components which have been touched in the first