Strategic Management in Swedbank

The mission or vision is a formal declaration of what the company is trying to achieve over the medium to long term. Its purpose is to provide a platform for thinking strategically. An important first step in the process of formulating a mission statement is to come up with a definition of the organization’s business. Essentially, the definition answers these questions: “What is our business? What will it be? What should it be?” the responses guide the formulation of a mission statement.
Swedbank’s mission and vision are following:
Mission
“By understanding and reacting to our customers’ needs, we can offer them the best financial solutions and thereby help them to improve their quality of life. In this way, we can continuously increase our company’s value and serve as a positive force in society.”

Vision
We want to be the leading financial institution in the markets where we are present. By leading we mean:
the highest customer satisfaction
the best profitability
the most attractive employer
Swedbank succeeded with the mission and values, because it is already the biggest and most profitable bank in Latvia, and it also has gained the title of the best employer in Latvia since 2005. …