business memo Essay

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To: Brian T. Moynihan, Chief Executive Officer of Bank of America
From: Cc,Mission Consultant
Date: Feb 20, 2014
Subject: The Company Mission and Purpose

Dear Brian T. Moynihan,

After analyzing our company’s strategic plans, I think our company’s mission should be updated to meet the needs of current financial environment and be specific enough to reflect the value of our bank.

Our previous mission in 2012 only stated that we could offer lending and investment products to low-and moderate-income individuals, families and communities. From year 2010 to 2012 the net income increased about 50%, however, the capital raised from clients kept steady.

All companies change with time and changes should be reflected in a new mission statement. To be the finest financial services company in the world, as our purpose defines, developing a new mission to deliver our value and economic goals to the society is imperative under such a circumstance.

Keeping customers’ money safe is no longer their needs required from us. It’s indispensable to establish an explicit mission to set us apart from other firms. The new mission should:
Be sensitivity to consumer wants---Help improve the financial lives of our customers and clients
Identify our core competencies---Provide less complex, more transparent and easier to do business
Demonstrate our values and operating principles---Share a passion for serving the financial needs and build a customer-driven business

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