Wells Fargo is an American-based multinational financial services company with central offices throughout the country, whose services form the world's second-largest bank by market capitalization. Wells Fargo's vision is to satisfy the customers' financial needs and help them succeed financially. Although the organization does not have a mission statement, its operations are principled by five primary values. These values entail providing customer-based services, recognizing people as their competitive advantage, ethics, diversity and inclusion, and strong leadership (Tayan, 2016). I must point out that this vision is effective in reflecting the organization's values. Even without noting down the values as an independent observation, the vision does an excellent job in reflecting these values. Another active element of the vision is that it sets the standards for excellence. By pointing out that the organization is dedicated towards customer satisfaction, it alludes to excellent services.
This short but very concise vision also does an excellent job in clarifying the organization's purpose and direction. With these elements in mind, the vision does an outstanding job of stressing on its values and excellent services. It is short but precise in the coverage of the company's objectives. However, this vision on its own is a very vague statement. It looks incomplete and would raise a lot of questions among the customers. That explains why it has a supporting statement paragraph. The other limitation is that it is not distinctive. It sounds like any other financial service provider’s vision statement; no distinguishing feature only known of Wells Fargo. From this vision statement, it is almost automatic that the organization's objectives would be drawn along these three areas of its performance; customer relations trusted financial services and corporate citizenship. The three top objectives thus would be:
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To establish a trusted relationship with their customers.
To become a financial leader in customer service and advice.
To promote corporate citizenship through philanthropy, advancing diversity and inclusion.
References
Tayan, B. (2016). The Wells Fargo cross-selling scandal.
