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Wells Fargo Mission Statement Analysis

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The Mission of a Financial Institution The Wells Fargo mission statement is merely “Our product is service. Our value added is financial advice and guidance. Our competitive advantage is our people”. But what does that really mean and how does Wells Fargo exemplify that statement? Surprisingly, I was only able to find the mission statement on the Wells Fargo website as a footnote to the “Our Future” section of their “Vision and Values.” Upon looking deeper into Wells Fargo’s Vision and Values I found bits and pieces of their mission statement scattered through the pages. On the “Our Values” page I found that one of the five primary values of Wells Fargo is “People as a competitive advantage”. From that page Wells Fargo explains what that …show more content…

In hiring, we really don’t care how much people know until we know how much they care. We like to say that we hire for attitude and train for aptitude. We provide the tools and training that team members need to succeed in their work, and we want them to be responsible and accountable for their businesses and functions.”(Vision and Values - Wells Fargo) Furthermore Wells Fargo refers to their employees as team members and describe their reasoning thusly “We say ‘team members,’ not ‘employees,’ because our people are resources to be invested in, not expenses to be managed — and because teamwork is essential to our success in helping customers.” (Vision and Values - Wells Fargo). Similarly, Wells Fargo explains how they treat their employees to build a positive work environment, however, from the reading we know that not every group of people is a team. Consequently, how Wells Fargo achieves the camaraderie that creates a team is defined nebulously at best. Wells Fargo’s second part of their mission statement is “Our value added is financial advice and guidance” which is complementary to their vision statement “We want to satisfy our customers’ financial needs and help them succeed

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