An Analysis of the Mission and Vision Statement of BNP Paribas
BNP Paribas is among the leading names in the European banking industry. The financial company follows an integrated business model which allows for higher cooperation among the group’s businesses and reduces the risks or chances of volatility by having invested in a variety of assets businesses. In the 21st century the financial industry has changed fast and this has made it essential for all the financial companies to innovate to adapt to the fast changing environment. By following an integrated model the brand has gained extra stability which has enabled it to provide innovative solutions to its clients.
Currently, the group serves nearly 32 million individual customers as well as more than 850,000 professionals, entrepreneurs and small and medium size enterprises as well as large corporations through its retail banking networks. Apart from these, BNP also has BNP Paribas group provides an entire range of financial solutions tailored to its clients’ needs. The financial brand is found across 74 countries and offers its corporate and institutional banking clients bespoke solutions to the capital markets, securities services, financing, treasury and financial advisory. Even in 2016 amid a lacklustre market, the brand has delivered strong results. However, by the year end, economic activity across US and Europe as well as other developed economies had surged which was a very good sign for BNP Paribas. This is a brief analysis of the mission and vision of BNP Paribas which analyzes how the financial brand is on its way to a better future for itself and its clients.
BNP Paribas Mission and Vision:
Several brands have separate mission and vision statements while several have combined where the same statement serves the purpose of both. BNP Paribas has combined the mission and vision statements into one. The main focus is on serving its clients satisfactorily by being an ethical and accountable brand.
We aspire to be the reference among European banks with a global reach, the preferred long-term partner to our clients, and a contributor to responsible and sustainable global development.
We want to have a positive impact on our stakeholders – customers, employees, shareholders – and on society. Our highly committed teams will deliver first-class service and solutions to our clients through our integrated model. We will offer to our colleagues an inspiring and stimulating place to work. We want to be among the most trustworthy players of our industry, by anchoring further our values and ethics in our everyday behaviors.
The initial lines express BNP’s aspiration to become the leading banking institution of Europe and to become an inspiration for the other institutions inside and outside Europe. It also aspire s to become a key participator in the global economic growth and development. There are three important factors highlighted in the first line of its mission and vision statement – global reach, long term partnership as a reliable partner and the third is to become a key contributor to responsible and sustainable global development. So, apart from trust, becoming a large and major global player as well as a key participant in churning global growth is also important for BNP Paribas.
In the next lines, it expresses its concerns for the key stakeholders including the customers, the shareholders, employees and the community. It has highly committed teams that offer to deliver first class services and solutions through its integrated business model. In this way, it intends to make a positive impact n the society and all the other stakeholders. Next important focus is to be a great workplace to work where the people get a stimulating and inspiring environment as well as opportunities for growth and learning. The last lines highlight the brand’s focus on ethics and accountability and how it intends to pursue its strategy without moving away from its values.
So, the mission and vision statement of BNP Paribas addresses almost all the major concerns. However, it must be a little more specific because mission and vision statements are also intended to guide the business managers with strategy and decision making plus resource allocation in day today scenario. In this regard the statement can be more specific about the financial future it is trying to achieve and how well its integrated business model is positioned to help it achieve that mission. While the mission and vision statement of BNP Paribas is detailed and describes several important concerns, it does not get very precise about these concerns. It can be made a little more specific to guide decision making inside the organization.