Three companies that I choose for this assignment are Yapı Kredi, Akbank and Odeabank. First I would like to start with analyzing Yapı Kredi. When we look at Yapı Kredi’s mission statement. We can see that there are three missions on their website. The first one is to achieve long-term sustainable growth. Their first mission statement describes their future plans and their claim to growth in future. However, ther are not identify the company’s products or services and don’t give the company its own identity. In their second mission statemnt, they say that they will create value for all stakeholders. In this mission statement they describe their claims for customers. However, they are not specifying a customer group, they are using a generic definition of their customers, by saying widespread and integrated environment like saying all stakeholders. They are also not specify the buyer needs it seeks to satisfy and its approach to pleasing customers. Last but not least mission statement is to be the first choice of customers and employees. In this mission statement, they are also not specifying their customer group or work group.
The vision of Yapı Kredi is to be the undisputed leader of the financial sector. First of all, their target market is not clear. If they talk about the world, it is not feasible. If they want to become the best of the world, first they should be the best in their country. On the other hand it is easy to communicate, flexible, focused, directional and graphic.
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To sum up, their vision is relatively good for them because it fulfill aproximately all the common shortcomings in the slides. However their mission statement is not clear. To improve their mission statement they can say in Turkey or Middle East.
Second company that I choose to analyze is Akbank. Their mission is to create lasting and high value for all their stakeholders with their innovative financial solutions and reliability. There is too many problems in this statement. They only specify its approach to pleasing customers but they don’t identify the company’s products or services. They also not specify the buyer needs it seeks to satisfy and the customer groups or markets it is endeavoring to serve. They don’t give the company its own identity. As a result, their mission statement is not clear.
When we look at Akbank’s vision, it says that being the leading bank who carries Turkey into the future. We can say that it is forward looking so its directional. It is also focused, feasible(if they talk about Turkey), desirable and graphic. It is too broad and vague because they did not clearly mention what they are going to do in the future. They also did not mention which markets that they want to become a leader of. However, it is easy to communicate because it is short and direct slogan. It is also not unique for the company’s identity and can be used by any banking company.
In my humble opinion, they don’t have a good mission statement, they have a goal or objective statements that they want to achieve. Their vision statements is not bad when we compare with their mission statement but it is also not good enough for a company who wants to become leader of their sector. Having bad mission statement and not good vision statement can affect their working standarts, their operations can be get worse because of not having clear vision and mission statement.
Last company that I choose to analyze is Odeabank. Their mission is to target the happiness of our stakeholders by investing in the best in banking and to give them an understanding that cares about the lives of our stakeholders. This statement is too long to understand. It looks good but when we look detailed we can see that it is not good. It don’t identify the company’s products or services. It also not specify the buyer needs it seeks to satisfy and the customer groups or markets it is endeavoring to serve. It only specify its approach to pleasing customers and give the company its own identity.
When we look at Odeabank’s vision, it says that to be the first bank that comes to mind in the banking needs of everyone who cares about life and time. We can say that it is forward looking so its directional. It is also focused, desirable and graphic. It is too broad and vague because they did not clearly mention what they are going to do in the future. They also did not mention which markets that they want to become a leader of so it is not feasible. It is also not easy to communicate because it is not short and it is not a slogan. In my opinion it is also not unique for the company’s identity and other banks can use their vision statement.
All in all, they don’t have a good mission and vision statement. In both they talk about their goals for future. But these phrases cannot be enough for a good vision and mission statements. Having bad mission and vision statement can affect their working standarts, their operations can be get worse because of not having clear vision and mission statement. To have better vision and mission statements they should focus to fulfill all the common shortcomings in our slides.
References
- https://www.yapikredi.com.tr/yatirimci-iliskileri/yapi-kredi-hakkinda/vizyon-misyon-strateji-ve-degerler#
- https://www.akbank.com/tr-tr/Yatirimci-iliskileri/Sayfalar/Vizyon-Misyon-ve-Hedefler.aspx
- https://www.odeabank.com.tr/tr-tr/hakkimizda/kurumsal-yonetim/sayfalar/misyon-vizyon-ve-degerlerimiz.aspx
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