Friday, August 16, 2019
BB&T Vision, Mission and Purpose statement
1. BB&T Vision, Mission and Purpose statement is considered an exemplary Mission Statement. Please read it and comment on the positives of this statement and defend your answer. I agree that BB&T Vision, Mission and Purpose statement can be used as an exemplary Mission Statement as it is well-organized and very informative. Firstly, this statement provides both theoretical and practical application Ã¢â¬â the example of Nicor Inc. mission statement is provided to illustrate how mission statements looks like and a theoretical explanation ensures deeper understanding of the subject.One more positive is that the paper outlines the importance of mission statement. It is argued that mission statement is business philosophy emphasizing the market, product and customer area and, thus, companies wonÃ¢â¬â¢t ignore this moment. Further, mission statement outlines the most important questions about the goals and objectives directing and guiding in such a way companyÃ¢â¬â¢s performance. Fi nally, mission statement provides detailed overview of the process of defining companyÃ¢â¬â¢s mission statements.It would be of great help for companies which only started to run their own business. 2. BB&T Vision, Mission and Purpose statement is considered an exemplary Mission Statement. Please read it and comment on the negatives of this statement and defend your answer. It is rather hard to speak of negatives of the BB&T Vision, Mission and Purpose statement, but I think that it concentrates more on the process of developing mission statement and pays little attention to discussing its core elements as, for example, goals and objectives.In such a way, company gets acquainted with the process, but may fail to understand what is needed to initiate the process. Also I canÃ¢â¬â¢t agree that mission statement is necessary only if the company is forced to alter its products, technologies and market. According management and marketing fundamentals, no company can operate successful ly without mission statement as it hasnÃ¢â¬â¢t worked out direction and objectives.