Missionand Vision Statement
ChaseBank is a financial institution operating as a subsidiary of JPMorganChase and Company. The bank offers checking accounts, savingsaccounts, credit cards, mortgages, vehicle loans, and investmentadvice to its clients. Additionally, it has over 20 outlets in LosAngeles, California. The company’s stakeholders include the owners,the shareholders, the directors, its employees, its clients, thegovernment, and the community. Stakeholders are important players inany banking institution since banking institutions are built on thefoundation of faith. Chase Bank relies primarily on customer depositsto generate revenue through loan facilities. If customers do notdeposit money, then a bank will struggle to fund operations.Customers also expect that their money will be kept safe and thatthey will earn interest on their deposits ("About Chase Bank,"2016 Clegg, 2013).
Also,Chase Bank’s clients and the community as a whole have to feel thatthe management will safeguard their interests. Loss of faith in abank can lead to sudden withdrawals. As a precautionary measure, thegovernment has to institute policies to control the bank’soperations. If the government does not enact rules and regulations,then banks will run amok and misuse customer deposits. The 2008financial crisis in the U.S is a testament to what banks can do ifuncontrolled. Shareholders appoint the management team, and theydemand returns for their investments. They also expect accountability(Clegg, 2013).
Employeeswait to receive fair remuneration that is commensurate to their inputand to work in an ideal workplace setting. To achieve theexpectations of the various stakeholders, Chase Bank uses its visionand mission statement to guide operations. In their missionstatement, they declare, “Our mission is to create engaged,lifelong relationships.” This statement shows that they place asignificant priority on their clientele. Chase Bank does not have anexplicit vision statement. However, its parent company, JPMorganChase and Company, has one that reads, “We aim to be the mostrespected financial services firm in the world, serving corporationsand individuals in over 100 countries.” Their vision shows theiraggressive expansionary agenda and their preferred market groups("About Chase Bank," 2016 "About Us |JPMorgan,"2016 ).
AboutChase Bank.(2016). Chase.com.Retrieved 30 October 2016, fromhttps://www.chase.com/digital/resources/about-chase
AboutUs.(2016). Jpmorgan.com.Retrieved 30 October 2016, from https://www.jpmorgan.com/global/about
Clegg,L. (2013). Controllingthe World Bank and IMF: Shareholders, stakeholders and the politicsof concessional lending.Houndmills, Basingstoke, Hampshire: Palgrave Macmillan.