Discussions

Discussion Week 8:  Live you’re Mission

A company’s mission statement strives to provide a comprehensive answer to the question, ‘what is our business? According to David (2011), the purpose of a mission statement is not only to provide specific details but also it declares the outlook and attitude of an organization, a business or a company. It attempts to reconcile the differences and hence appeal to the organization’s stakeholders and individual (s) who are directly involved in the company. Stakeholders include environmental groups, customers, employees, managers, stockholders, creditors, and governments among others. Below are the mission and vision statements for my company;

Company mission: “To provide our customers with affordable and unique experiences, provide expressive opportunities to shareholders/community, and be the best game-changing innovative organization”. 

Company values: “Our corporate values include integrity, respect, excellence and innovation.”

Explanation

The NAB’s mission statement reflects the management, marketing, technology, social responsibility and operations. The company strives to ascertain a steady growth by identifying its strengths and using them to gain a competitive advantage against competitors. The company not only competes domestically but it also wedges stiff competition within the global market. The company utilises the current technology such as Artificial Intelligence (AI) to ascertain customer satisfaction through improved experience. The company uses bots and the Internet of Things (IoT) to acquire specific customer data and use it to customize customer services. 

The company prefers the inclusivity and participative leadership style where every stakeholder is essential for decision making. The management team operated closely with employees to ensure efficiency and proper flow of information. The company attempts to be a reliable corporate citizen by establishing social initiatives, non-discriminative practices, meet legal obligations, mitigate climate change, improve labor policies, develop environmental sustainability initiatives and engage in volunteer efforts as well as charitable giving to the community. 

The marketing team usually strives to streamline its marketing strategies with the company’s values, vision statement and mission statement. The objective of the company is to attract and hence retain as many customers as possible by offering exclusive services. The company’s values normally guide day-to-day operations. These values act as the driving force and direct the existence of the company. The mission statement, therefore, reflects the company’s social responsibility, operations, technology, marketing and management style. 

Discussion Week 9: Elevator Pitch

Do you know failure to anticipate new financial technologies can cause tremendous disruption to your business? Technological disruption poses a significant strategic challenge as far as its recent growth and cost-containment struggles are concerned.  

What we do at NAB Business is to offer technologically oriented financial services to addresses the arising technological disruption. Some of the financial services that we offer include non-cash payment products, foreign exchange contracts, life insurances, superannuation, online payment security, and managed investment schemes. NAB business is financial services franchise which provides a wide range of business banking solutions to both large corporations and small scale businesses. There are several finance options and loans and business credit cards. We manage approximately 5 million consumer relations across the continent through a network of more than 800 branches and centralized service teams. 

We believe that our services are exclusively beneficial and assist in achieving unique ambitions and needs. Our services will not address non-anticipatory events, but it will also restore your business if an insured risk occurs.

Rationale

The pitch reflects the company’s goals, accomplishments and inherent professionalism/skills. It conveys the background information of the company as briefly as possible while remaining relevant within the shortest time. It provides an opportunity to showcase the uniqueness of the company’s services.

References

David, F. R. (2011). Strategic management: concepts and cases/Fred R. David 13th edition– 2011, 31.

Elevator Pitch Examples – Northeastern University D’Amore-McKim School of Business. (2019). Retrieved 12 November 2019, from https://onlinebusiness.northeastern.edu/neu- mba/elevator-pitch-guide/elevator-pitch-examples-2/