BB&T Corporation has a well-defined mission, vision and purpose statements. The organization’s mission statement communicates its purpose and goals while the vision statement illustrates the future of the organization. The positives of BB&T’s mission, vision and purpose statements include the following. When BB&T states in its mission statement “Helping our clients achieve economic success and financial security” (Pearce & Robinson, 2013), it vividly shows the organization’s commitment to key stakeholders such as customers, communities, and shareholders. The organization has prioritized the interest of customers thus providing them with favorable financial conditions. The vision statement states that the organization wants “to be the best of the best” (Pearce & Robinson, 2013). The organization has an appropriate vision statement that shows its venture into excellence. By being the best of the best, customers will receive excellence services while employees will receive favorable working conditions. Regarding the purpose statement, it read “our ultimate purpose is to create superior long-term economic rewards for our shareholders” (Pearce & Robinson, 2013). It is interesting to see that the organization enhances its relationship with shareholders by rewarding them thus improving the quality of customer service. The negative of these statements is that they can be unrealistic in reality. BB&T can say that it wants to create the best financial institution and in reality, it creates an institution that oppresses stakeholders. The company can decide to increase the lending rates thus limiting customers from accessing credit facilities.

Reference

Pearce, J.A., & Robinson, R.B. (2013). Strategic management: Planning for domestic & global competition (13^th ed.). New York, NY: McGraw-Hill.

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