A mission statement is a statement of the purpose of a company or organization. The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. It provides "the framework or context within which the company's strategies are formulated. For example, the charity might provide "job training for the homeless and unemployed". The statement may also set out a picture of the organization in the future.
A clear business mission should have each of the following elements:
Vision:
defines and describes the future situation that a company wishes to have, the intention of the vision is to guide, to control and to encourage the organization as a whole to reach the desirable state of the organization The vision is a long-term view, sometimes describing the organization's picture of an "ideal world". For example, a charity working with the poor might have a vision statement which reads "A World without Poverty."
A Vision statement outlines what the organization wants to be, or how it wants the world in which it operates to be. It concentrates on the future. It is a source of inspiration. It provides clear decision-making criteria.
Profile of Grameen Phone:
Grameenphone widely known as GP is the leading telecommunications service provider in Bangladesh. With more than 32 million subscribers (as of June 2011), Grameenphone is the largest cellular operator in the country. It is a joint venture enterprise between Telenor and Grameen Telecom Corporation, a non-profit sister concern of the internationally acclaimed microfinance organization and community development bank Grameen Bank. Telenor, the largest telecommunications company in Norway, owns 55.8% shares of Grameenphone, Grameen Telecom owns 34.2% and the remaining 10% is publicly held.
THE VISION OF GRAMEEN PHONE:
“To be leading provider of telecommunication services all over Bangladesh with satisfied customers and shareholders, and enthusiastic employees.”
MISSION STATEMENT:
Grameen Phone Ltd. aims at providing reliable, widespread, convenient mobile and cost effective telephone services to the people in Bangladesh irrespective of where they live Such services will also help Bangladesh keep pace with other countries including those in South Africa region and reducing her existing disparity in telecom services between urban and rural areas
Purpose of Grameen Phone:
*To receive an economic return on its investments.
*To contribute to the economic development of Bangladesh where telecommunications can play a critical role.
Profile of south east bank limited
Southeast Bank Limited is a scheduled Bank under private sector established under the ambit of bank Company Act, 1991 and incorporated as a Public Limited Company under Companies Act, 1994 on March 12, 1995. The Bank started commercial banking operations effective from May 25, 1995. During this short span of time the Bank had been successful to position itself as a progressive and dynamic financial institution in the country.
Corporate Mission and Vision
Mission
q High quality financial services with the help of latest technology.
q Fast and accurate customer service.
q Balanced growth strategy.
q High standard business ethics.
q Steady return on shareholder’s equity.
q Innovative banking at a competitive price.
q Deep commitment to the society and the growth of national economy.
q Attract and retain quality human resource.
Vision:
To be a premier banking institution in Bangladesh and contribute significantly to the national economy.
Organization Chart:
Board of Directors
Training Institute
International Trade
Head of Branch
Share Division
Research & Development Division
Credit Department
Export
Import
International Division
Human Resources Division
Others
Remittance
Cash
Loan Administration
Loan Documentation
Loan Appraisal
Accounts Department
Customer Service Department
Foreign Exchange & International Trade Department
Manager (Operations)
Executive Committee
Shariah Board for Islamic Banking
Board Secretariat
The President & Managing Director
Deputy Managing Director
Islamic Banking Division
Treasury
Information Technology Division
Internal Control & Compliance Division
Financial Control & Accounts Division
Credit Division
Strategies of Grameenphone:
STRATEGIES using products Applied by Grameenphone Business Level Strategies: features or services GP are distinguishing the firm’s offerings from its competitors. Some product features are Apon, Bondhu, Sohoj, Djuice, Xplore, Business Solution, Internet SIM, Public Phone, Village Phone to increase market share by expanding the network, The Company was. Successfully listed in November 2009 – which was the largest IPO in the history of the Bangladesh capital market.
Functional Level Strategies:
Grameenphone‟s focus is on efficiency, quality, innovation, and customer Their main focus on After Sales Service that’s why for responsiveness. The first time they introduce 24 Hours Helpline and many GPC with the GP‟s Human Resource motto, “We are here to Help” & People management procedure is so much powerful rather than the other telecom companies, which are helping the company to achieve the first place. Under Grameenphone there are more than 5000 Employees working all over the country.
Grameenphone (The Global Level Strategies: Company of Telenor Group) is using multidomestic strategies because it expanded its telecom business under different countries with different name. Such as: o Grameenphone in Bangladesh, Uninor in India, Telenor in Pakistan, Norway, Hungary; DiGi in Malaysia, dtac in Thailand etc.
Multi-domestic
Strategies
Telenor in Pakistan, Norway, Hungary
Uninor in India
Grameenphone in Bangladesh
Figure: Multi-domestic
Strategies of GP
It’s also follows transnational strategies, like Telenor Group provide different strategies for different countries depend on the people demands. So Grameenphone segmented our Bangladeshi market depending on “what people actually need”, that’s why they invented different types of SIM, Packages Plan, Internet Options and Handsets for BD people. Grameenphone is vertically integrated, now
Corporate Level Strategies:
They establish some plans for grab more rural customers by producing Handset “Badhon” Grameenphone C100, Grameenphone V100 at cheap price. Also they producing Grameenphone Modem to establish and introduce internet everywhere in Bangladesh under the slogan of “Alo Grameenphone now concentrated on Ashbei”, which has the 100% mobility other field also. They are opening Grameenphone IT Ltd. as well as Grameenphone Communication Ltd. Management Team of Grameenphone
SWOT ANALYSIS (GP)
STRENGTHS: Largest Geographical Coverage Largest International roaming Service Strong Distribution Channels Pre-Paid service that are so Flexible Low price handsets with quality and variability for rural people Lease of Fiber-Optic cable from Bangladesh Railway Market Leadership & financial soundness Good Owner Structure Competitive Price Dynamic Management Team 24 Hours Customer Services Skilled Human Resource Access to the Widest Rural Distribution network through Grameen Bank More Attractive VAS (Value Added Services)OPPORTUNITIES: Unmet demand Possibility of further network expansion Increasing interconnection with BTTB Favorable Regulatory Authority Possibility of innovative products and services.
WEAKNESS: Billing inflexibility growing customer dissatisfaction Lack of follow-up from customers Deviation from original business plan marketing plan.
THREATS: Introduction of BTTB mobile phones Aggressive marketing by competitors Possibility of new entrances using GSM Technology. Better relationship of competitors with regulatory body.
Findings & Overall Impact From the above empirical description, GrameenPhone has contributed to development in Bangladesh in several ways: Building technical infrastructure with increasingly more advanced services, working towards a critical mass, where telecommunication impact on development will increase significantly. Through the transfer of technology and managerial expertise. Building production and maintenance capacity locally. Through strict codes of conduct possibly strengthening the norm against corruption. Through high production and related high tax payments, as well as through continuous investments in competition and product differentiation. This results in a larger consumer Surplus. Wages and payments paid out to close 100,000 people, with considerable income effects. Through extended business activities such as CIC, Bill Pay and Health Line reducing consumer costs of basic services. Through professional HR practices and training programs enhancing human capital as well as setting a standard for behavior and conduct. Through community services which help fund basic services for poor people. It seems that the impact of GrameenPhone on the development of Bangladesh is very significant, and also clearly beyond what is traditionally expected from a private company, such as investments, wages and taxes. The code of conduct, HSE policy, HR practices and extended business activities seem to play an important role in GrameenPhone and also have effects beyond the company’s own specific goals. A particularly interesting observation is the "intellectual domestication" process going on, most likely implying increasing management independence.
Strategies of South-east bank:
The emergence of Southeast Bank Limited was at the juncture of liberalization of global economic activities. The experience of the prosperous economies of the Asian countries and in particular of South Asia has been the driving force and the strategic operational policy option of the Bank. The company philosophy - "A Bank with Vision" has been precisely an essence of the legend of success in the Asian countries.
Southeast Bank Limited is a scheduled commercial bank in the private sector, which is focused on the established and emerging markets of Bangladesh. In Dhaka, the first branch was launched in 1995 and the bank has been growing ever since. Southeast Bank Limited has 25 branches throughout Bangladesh and its aim is to be the leading bank in the country's principal markets. The bank by concentrating on the activities in its area of specialization has achieved good market reputation with efficient customer service. The Bank is committed to providing continuous training to its staff to keep them up to date with modern practices in their respective fields of work. The Bank also tries to fulfill its share in community responsibilities. By such measures the Bank intends to grow and increase shareholders' earning per share. Southeast Bank Limited pledges to maximize customer satisfaction through services and build a trusting relationship with customers, which has stood the test of time for the last eight years.
SWOT analysis (SEBL)
Core Strengths
• Transparent and quick decision making
• Efficient team of performers
Threats:
Safeguarding the availability of critical banking channels Southeast Bank is committed to providing high quality and innovative financial products and services at a competitive cost. IT is fundamental in helping the bank achieve these goals. In particular it needs a highly available network infrastructure is support both its internal business process and customer-facing operations. Poor performance or availability will quickly impact ability to process financial network.
RECOMMENDATION:
For SEBL:-
Ø Provide training to Southeast Bank’s network management team
Ø Employee should be customer oriented.
Ø Management should take proper step to motivate employee.
Ø Infrastructure should be developed.
Ø Number of branch should be increase.
Ø Should give more concentration on advertising.
FOR GP:-
Based on the findings & analysis, some realistic recommendations are mentioned in the following: QA department is strongly working but the department should give more concentration on contractual employees in making them permanent to make faster growth of GP than the present time. Besides existing customers, other customers should be strongly targeted. Performance appraisal system should be controlled and followed to measure the performance of each employee. Should give more concentration on advertising & sponsorship. GP should increase the service quality/after sales service.
CONCLUSION
Grameenphone Company and Southeast Bank is still a growing company, in spite of all the success it has achieved so far. GP holds a kind of a monopoly position in the mobile telecommunications market. And SEBL hold a strong position in the financial market. Completions always on the lookout for new ideas and schemes. In order to maintain no: 1 position GP use to follow many strategies like business level strategies, functional level strategies, global level strategies & corporate level strategies, SEBL use to follow many strategies like functional level strategy and corporate level strategy.
Executive summary
The assignment addresses the mission, vision, and strategies of two companies and portraying their organogram and structure and preparing strategy that means in which strategy they are following to run their business. We have selected two companies one is Grameenphone providing telecommunication services and another one is South East Bank Ltd providing services in banking sector. At first is defined mission and vision in theoretically and then demonstrated two company’s mission and vision as well as their organogram. The strategy has been made of this two company is based on our own point of view and also on their performance.
Objectives of the study:
The objective of this study is to have a understanding of the strategic policies of the GP & SEBL. Gain utmost experience of the mission and vision of these two company.
Limitations of the study:
The limitations of the study are as follows:
a) The organizations policies and data are confidential nature and thus it is difficult for us to collect the necessary Information and documents within this short time.
c) The website doesn’t contain enough information for detail study.
d) Also we have not enough time to cooperate in the information gathering process.
A clear business mission should have each of the following elements:
Vision:
defines and describes the future situation that a company wishes to have, the intention of the vision is to guide, to control and to encourage the organization as a whole to reach the desirable state of the organization The vision is a long-term view, sometimes describing the organization's picture of an "ideal world". For example, a charity working with the poor might have a vision statement which reads "A World without Poverty."
A Vision statement outlines what the organization wants to be, or how it wants the world in which it operates to be. It concentrates on the future. It is a source of inspiration. It provides clear decision-making criteria.
Profile of Grameen Phone:
Grameenphone widely known as GP is the leading telecommunications service provider in Bangladesh. With more than 32 million subscribers (as of June 2011), Grameenphone is the largest cellular operator in the country. It is a joint venture enterprise between Telenor and Grameen Telecom Corporation, a non-profit sister concern of the internationally acclaimed microfinance organization and community development bank Grameen Bank. Telenor, the largest telecommunications company in Norway, owns 55.8% shares of Grameenphone, Grameen Telecom owns 34.2% and the remaining 10% is publicly held.
THE VISION OF GRAMEEN PHONE:
“To be leading provider of telecommunication services all over Bangladesh with satisfied customers and shareholders, and enthusiastic employees.”
MISSION STATEMENT:
Grameen Phone Ltd. aims at providing reliable, widespread, convenient mobile and cost effective telephone services to the people in Bangladesh irrespective of where they live Such services will also help Bangladesh keep pace with other countries including those in South Africa region and reducing her existing disparity in telecom services between urban and rural areas
Purpose of Grameen Phone:
*To receive an economic return on its investments.
*To contribute to the economic development of Bangladesh where telecommunications can play a critical role.
Profile of south east bank limited
Southeast Bank Limited is a scheduled Bank under private sector established under the ambit of bank Company Act, 1991 and incorporated as a Public Limited Company under Companies Act, 1994 on March 12, 1995. The Bank started commercial banking operations effective from May 25, 1995. During this short span of time the Bank had been successful to position itself as a progressive and dynamic financial institution in the country.
Corporate Mission and Vision
Mission
q High quality financial services with the help of latest technology.
q Fast and accurate customer service.
q Balanced growth strategy.
q High standard business ethics.
q Steady return on shareholder’s equity.
q Innovative banking at a competitive price.
q Deep commitment to the society and the growth of national economy.
q Attract and retain quality human resource.
Vision:
To be a premier banking institution in Bangladesh and contribute significantly to the national economy.
Organization Chart:
Board of Directors
Training Institute
International Trade
Head of Branch
Share Division
Research & Development Division
Credit Department
Export
Import
International Division
Human Resources Division
Others
Remittance
Cash
Loan Administration
Loan Documentation
Loan Appraisal
Accounts Department
Customer Service Department
Foreign Exchange & International Trade Department
Manager (Operations)
Executive Committee
Shariah Board for Islamic Banking
Board Secretariat
The President & Managing Director
Deputy Managing Director
Islamic Banking Division
Treasury
Information Technology Division
Internal Control & Compliance Division
Financial Control & Accounts Division
Credit Division
Strategies of Grameenphone:
STRATEGIES using products Applied by Grameenphone Business Level Strategies: features or services GP are distinguishing the firm’s offerings from its competitors. Some product features are Apon, Bondhu, Sohoj, Djuice, Xplore, Business Solution, Internet SIM, Public Phone, Village Phone to increase market share by expanding the network, The Company was. Successfully listed in November 2009 – which was the largest IPO in the history of the Bangladesh capital market.
Functional Level Strategies:
Grameenphone‟s focus is on efficiency, quality, innovation, and customer Their main focus on After Sales Service that’s why for responsiveness. The first time they introduce 24 Hours Helpline and many GPC with the GP‟s Human Resource motto, “We are here to Help” & People management procedure is so much powerful rather than the other telecom companies, which are helping the company to achieve the first place. Under Grameenphone there are more than 5000 Employees working all over the country.
Grameenphone (The Global Level Strategies: Company of Telenor Group) is using multidomestic strategies because it expanded its telecom business under different countries with different name. Such as: o Grameenphone in Bangladesh, Uninor in India, Telenor in Pakistan, Norway, Hungary; DiGi in Malaysia, dtac in Thailand etc.
Multi-domestic
Strategies
Telenor in Pakistan, Norway, Hungary
Uninor in India
Grameenphone in Bangladesh
Figure: Multi-domestic
Strategies of GP
It’s also follows transnational strategies, like Telenor Group provide different strategies for different countries depend on the people demands. So Grameenphone segmented our Bangladeshi market depending on “what people actually need”, that’s why they invented different types of SIM, Packages Plan, Internet Options and Handsets for BD people. Grameenphone is vertically integrated, now
Corporate Level Strategies:
They establish some plans for grab more rural customers by producing Handset “Badhon” Grameenphone C100, Grameenphone V100 at cheap price. Also they producing Grameenphone Modem to establish and introduce internet everywhere in Bangladesh under the slogan of “Alo Grameenphone now concentrated on Ashbei”, which has the 100% mobility other field also. They are opening Grameenphone IT Ltd. as well as Grameenphone Communication Ltd. Management Team of Grameenphone
SWOT ANALYSIS (GP)
STRENGTHS: Largest Geographical Coverage Largest International roaming Service Strong Distribution Channels Pre-Paid service that are so Flexible Low price handsets with quality and variability for rural people Lease of Fiber-Optic cable from Bangladesh Railway Market Leadership & financial soundness Good Owner Structure Competitive Price Dynamic Management Team 24 Hours Customer Services Skilled Human Resource Access to the Widest Rural Distribution network through Grameen Bank More Attractive VAS (Value Added Services)OPPORTUNITIES: Unmet demand Possibility of further network expansion Increasing interconnection with BTTB Favorable Regulatory Authority Possibility of innovative products and services.
WEAKNESS: Billing inflexibility growing customer dissatisfaction Lack of follow-up from customers Deviation from original business plan marketing plan.
THREATS: Introduction of BTTB mobile phones Aggressive marketing by competitors Possibility of new entrances using GSM Technology. Better relationship of competitors with regulatory body.
Findings & Overall Impact From the above empirical description, GrameenPhone has contributed to development in Bangladesh in several ways: Building technical infrastructure with increasingly more advanced services, working towards a critical mass, where telecommunication impact on development will increase significantly. Through the transfer of technology and managerial expertise. Building production and maintenance capacity locally. Through strict codes of conduct possibly strengthening the norm against corruption. Through high production and related high tax payments, as well as through continuous investments in competition and product differentiation. This results in a larger consumer Surplus. Wages and payments paid out to close 100,000 people, with considerable income effects. Through extended business activities such as CIC, Bill Pay and Health Line reducing consumer costs of basic services. Through professional HR practices and training programs enhancing human capital as well as setting a standard for behavior and conduct. Through community services which help fund basic services for poor people. It seems that the impact of GrameenPhone on the development of Bangladesh is very significant, and also clearly beyond what is traditionally expected from a private company, such as investments, wages and taxes. The code of conduct, HSE policy, HR practices and extended business activities seem to play an important role in GrameenPhone and also have effects beyond the company’s own specific goals. A particularly interesting observation is the "intellectual domestication" process going on, most likely implying increasing management independence.
Strategies of South-east bank:
The emergence of Southeast Bank Limited was at the juncture of liberalization of global economic activities. The experience of the prosperous economies of the Asian countries and in particular of South Asia has been the driving force and the strategic operational policy option of the Bank. The company philosophy - "A Bank with Vision" has been precisely an essence of the legend of success in the Asian countries.
Southeast Bank Limited is a scheduled commercial bank in the private sector, which is focused on the established and emerging markets of Bangladesh. In Dhaka, the first branch was launched in 1995 and the bank has been growing ever since. Southeast Bank Limited has 25 branches throughout Bangladesh and its aim is to be the leading bank in the country's principal markets. The bank by concentrating on the activities in its area of specialization has achieved good market reputation with efficient customer service. The Bank is committed to providing continuous training to its staff to keep them up to date with modern practices in their respective fields of work. The Bank also tries to fulfill its share in community responsibilities. By such measures the Bank intends to grow and increase shareholders' earning per share. Southeast Bank Limited pledges to maximize customer satisfaction through services and build a trusting relationship with customers, which has stood the test of time for the last eight years.
SWOT analysis (SEBL)
Core Strengths
• Transparent and quick decision making
• Efficient team of performers
Threats:
Safeguarding the availability of critical banking channels Southeast Bank is committed to providing high quality and innovative financial products and services at a competitive cost. IT is fundamental in helping the bank achieve these goals. In particular it needs a highly available network infrastructure is support both its internal business process and customer-facing operations. Poor performance or availability will quickly impact ability to process financial network.
RECOMMENDATION:
For SEBL:-
Ø Provide training to Southeast Bank’s network management team
Ø Employee should be customer oriented.
Ø Management should take proper step to motivate employee.
Ø Infrastructure should be developed.
Ø Number of branch should be increase.
Ø Should give more concentration on advertising.
FOR GP:-
Based on the findings & analysis, some realistic recommendations are mentioned in the following: QA department is strongly working but the department should give more concentration on contractual employees in making them permanent to make faster growth of GP than the present time. Besides existing customers, other customers should be strongly targeted. Performance appraisal system should be controlled and followed to measure the performance of each employee. Should give more concentration on advertising & sponsorship. GP should increase the service quality/after sales service.
CONCLUSION
Grameenphone Company and Southeast Bank is still a growing company, in spite of all the success it has achieved so far. GP holds a kind of a monopoly position in the mobile telecommunications market. And SEBL hold a strong position in the financial market. Completions always on the lookout for new ideas and schemes. In order to maintain no: 1 position GP use to follow many strategies like business level strategies, functional level strategies, global level strategies & corporate level strategies, SEBL use to follow many strategies like functional level strategy and corporate level strategy.
Executive summary
The assignment addresses the mission, vision, and strategies of two companies and portraying their organogram and structure and preparing strategy that means in which strategy they are following to run their business. We have selected two companies one is Grameenphone providing telecommunication services and another one is South East Bank Ltd providing services in banking sector. At first is defined mission and vision in theoretically and then demonstrated two company’s mission and vision as well as their organogram. The strategy has been made of this two company is based on our own point of view and also on their performance.
Objectives of the study:
The objective of this study is to have a understanding of the strategic policies of the GP & SEBL. Gain utmost experience of the mission and vision of these two company.
Limitations of the study:
The limitations of the study are as follows:
a) The organizations policies and data are confidential nature and thus it is difficult for us to collect the necessary Information and documents within this short time.
c) The website doesn’t contain enough information for detail study.
d) Also we have not enough time to cooperate in the information gathering process.
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