Building a
Mission + Vision
1
agenda
• Review goals for Commercial Lending ads
• Revisit Brand Breakdown and Brand Being 3
• Goals of workshop 6
• Storytelling 9
• Vision and Mission statement overview 10
• Vision statement review and exercise 16
• Mission statement review and exercise 26
• Next steps 38
2
revisit brand being and brand breakdown
In our last meeting we reviewed the Dime Brand Breakdown and Being,
we will revisit to discuss feedback and next steps for evolution.
customer
landscape quest brand being
brand
3
How vision + mission fits into your brand being
customer
ULTIMATE TRUTH OF THE
TARGET CUSTOMER. THEIR
ESSENCE, INTEREST, AND the brand being
ULTIMATE INSIGHT IN
RELATION TO YOUR BRAND
quest
landscape
MISSION
SUM UP THE STATE OF
VISION
AFFAIRS IN YOUR MARKET.
WHAT IS THE COMPETITIVE
TRUTH, AND WHERE DO YOU
FIT IN.
brand
WHAT DOES YOUR BRAND
REPRESENT TO YOUR
AUDIENCE, TO BUSINESS,
AND ITS ULTIMATE ESSENCE
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brand breakdown: vision & mission
customer
SUPPORT
MY NEIGHBORHOOD,
SUPPORT MY LIFESTYLE,
SUPPORT ME, the brand being
AND WE CAN
DO BUSINESS
quest
landscape
INTERNET BANKING RULES
BUT CUSTOMER SERVICE
AND COMMUNITY
INVOLVEMENT
ARE ESSENTIAL
VISION
MISSION
brand
A GOOD AND TRUE
NEW YORK BANK WITH
NO DISTINCT VOICE
5
Workshop Goals
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goals of workshop
The core elements essential to every successful strategic plan are:
• Vision
• Mission
• Core Values
• Strategic Areas of Focus
• Strategic Goals
• Action Plans
7
goals of this workshop
To take the first step toward building a unified, strategic plan for
Dime today’s workshop will focus on the following:
• Understand the mindset of the customers, the bank, and the
intersection of the two
• Understand and develop a draft vision statement
• Understand and develop a draft mission statement
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Storytelling
Before developing the vision and mission for Dime, we must first understand who we are
talking to, not just as customers, but as members of our community. It is important to
consider and talk about their stories as we contemplate Dime’s role in their lives.
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Vision & Mission Statement
For the same reasons it is fundamental and valuable for any organization to have a strategic
plan as a roadmap for success, it is important to develop a plan around a clearly defined and
well written Vision and Mission.
Both serve important, yet different roles as core elements of a strategic plan.
10
a starting point for dime
As a starting point, we should assess the current customer-facing business values
and goals of Dime to understand what is still accurate and what needs to change.
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a starting point for dime
About Dime:
The Dime Savings Bank of Williamsburgh delivers financial services of the highest
quality by relying on traditional, time-honored principles like personal service and
good, honest value. As a trusted community bank for over 150 years, we have deep
roots in the communities we serve, and our customers have come to trust Dime for
their personal and business banking needs, for business financing, and for financial
guidance. Honoring that trust is our most important mission, and by doing so, we will
deliver superior results not only for our customers, but for our communities,
our employees, and our shareholders.
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a starting point for dime
Message From The CEO:
Dear Neighbor,
If you’re looking for a secure, independent, community-focused bank – a bank you
can count on – then Dime is the right bank for you. While other institutions have
come and gone, or endured roller-coaster swings in customer confidence, Dime has
been steadily delivering what sensible customers want most: safety, stability, and a
solid return on their money. Just as we’ve done for over 150 years.
I invite you to stop by any of our 25 branch offices in Brooklyn, Queens, the Bronx,
and in Nassau County, and judge Dime for yourself. You’ll find a courteous welcome,
a helping hand, and an abiding commitment to you and your community. That’s the
way banking is supposed to be. And that’s the way banking still is, at Dime.
13
difference between vision and mission statement
VISION:
Where are we going? It’s aspirational. It’s a destination.
MISSION:
Why are we here? It’s what you do. It’s who you serve. It’s why you’re different.
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difference between vision & mission
vision mission
Talks about how you will get to where you want to be. Defines
Outlines where you want to be. Communicates both the the purpose and primary objectives related to your customer
purpose and values of your business. needs and team values.
Answers, ‘Where do we aim to be? ‘ Answers, ‘What do we do? What makes us different?’
Talks about your future. Talks about the present leading to its future.
Lists where you see yourself some years from now. It Lists broad goals for which the organization is formed.
inspires you to give your best. It shapes your Its prime function is internal; to define the key measure or
understanding of why you are working here. measures of the organization's success and its prime
audience is the leadership, team and stockholders.
Features of an effective statement: Clarity and lack of
ambiguity: Describing a bright future (hope); Memorable Features of an effective statement: Purpose and values of the
and engaging expression; realistic aspirations, achievable; organization: Who are the organization's primary clients
alignment with organizational values and culture. (stakeholders)? What are the responsibilities of the
organization towards the clients?
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Crafting a Vision Statement
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vision statement
• Provides guidance and inspiration as to what an organization is focused on
achieving in five, ten, or more years
• It should not describe what you do, rather focus on the outcome of when the
work is done
• Functions as the north star - it is what all employees understand their work
every day ultimately contributes towards accomplishing over the long term
• Is written succinctly in an inspirational manner that makes it easy for all
employees to recite it at any given time
• Above all, vision statements should be simple, short, and free from jargon
• When crafting the vision, make sure that once you create something you’re
excited about, you sleep on it and revisit it. The same enthusiasm should return.
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vision statement examples
Original: A computer on every To bring inspiration and innovation
desk and in every home.
to every athlete* in the world Affordable solutions for better living.
Now: To enable people and
businesses throughout the * If you have a body, you are an
world to realize their full athlete.
potential.
To be Earth's most customer- To establish Starbucks as the
To help people be healthy, centric company where people most recognized and
secure and comfortable. can find and discover anything respected brand in the world.
they want to buy online.
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banking vision statement examples
We want to satisfy all our To be the better bank. We will be At JPMorgan Chase, we want to
customers’ financial needs and the best run, customer-focused, be the best financial services
help them succeed financially. integrated financial institution, with company in the world. Because
a unique and inclusive employee of our great heritage and
culture. excellent platform, we believe this
is within our reach.
As part of our vision to make lives better, We aspire to be the leading With 200 years of experience meeting
we've made the following commitments: client-centric global universal the world's toughest challenges and
To truly meet consumer needs. bank seizing its greatest opportunities, we
strive to create the best outcomes for
Give people what they would expect from us. our clients and customers with
Create lasting relationships with our financial solutions that are simple,
customers. creative and responsible
Having a Culture of Innovation. 19
vision statement exercise: critic’s corner
10 minutes:
Take 5 minutes to review the chosen vision statements for this exercise. On a piece of paper, chose one
you think is good, and one you think is bad, and write what you like or do not like about each. Provide
specific examples of what is lacking for those your don’t like, and what is included in the ones you do.
After 5 minutes, we will take turns sharing what we do/do not like and discuss to better discern why
they are good or bad.
20
vision statement exercise: banned & pivotal words
10 minutes:
Group participation: Before crafting our own vision statement, let’s create a list of banned words that
are clichéd, vague, or overused in the finance industry, and a list of pivotal words that are
representative of Dime. Eliminating and identifying these words gets you on the road to a vision
statement that is uniquely your own.
This list can also be applied to the mission statement.
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vision statement exercise: start somewhere
20 minutes:
Start somewhere. Get it all out there. Ask all the questions.
• What will our business look like 3 to 5 years from now?
• What is the ultimate dream for your company (beyond what you may think is possible now)?
• What do you want your company's legacy to be?
• What doesn't matter to your company's legacy?
• How do you want to help people?
• What value does your company bring that's unique or different from other companies?
• What new strategies or new directions do you intend to pursue?
• What future customer needs do you want to develop solutions for?
• What can you do to prepare your company for the future?
• What gives your employees a sense of purpose?
• What do you want your selling point to be?
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vision statement exercise: vision of one
15 minutes:
5 minutes: Using the answers from the previous set of questions and what you have learned critiquing
vision statements, craft 1 or 2 of your own that you feel best represent Dime. Aim to keep each to 1-2
sentences.
10 minutes: We will then share as a group, put on the wall and begin voting on what statements or
elements of those statements are strongest. Then, using the vision statements that received the most
votes, pull together key elements to create one all-encompassing draft vision statement.
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vision statement exercise: cut the jargon
5 minutes:
Remove the jargon
If Google, Microsoft, and Amazon’s vision statements don’t have jargon, neither should yours.
Remember to check your list of banned words to ensure they do not show up in the vision statement.
Key tips:
• Know your audience and speak in a way they will understand.
• Simplify without dumbing it down.
• Use examples or analogies when you can.
• Test it on your grandma.
• When in doubt, leave it out.
24
vision statement exercise: soul check
5 minutes:
Ask yourself: is it inspirational, believable, and will people want to get behind it?
Your vision should resonate with people, particularly you and your employees. It should address a real
problem or something people care about. Think about why you wanted to get into your business in the
first place…you were probably inspired by something, right? Whatever motivated you then might be
what you want to tap into when crafting your vision statement.
25
Crafting a Mission Statement
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mission statement
Your company’s mission statement is your opportunity to define the company’s
goals, ethics, culture, and norms for decision-making. The best mission statements
define a company’s goals in at least three dimensions: what the company does for
its customers, what it does for its employees, and what it does for its owners.
Some of the best mission statements also extend themselves to include fourth and
fifth dimensions: what the company does for its community, and for the world.
The best ones strive to combine physical, emotional, and logical elements into one
exceptional customer and employee experience.
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mission statement
Much like the vision statement, the mission should be simple, short, and inspirational.
• Defines the present state or purpose of a company or organization
• Answers the following questions about why a company exists:
What do we do?
How do we do it?
Who do we do it for?
• Is written for a shorter timeframe (one to three years) than a vision statement
(3 to 5 years and beyond)
• Is something that all employees can articulate and use in their jobs on a daily basis
• Is distinct, fresh, and differentiating
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mission statement examples
Google’s mission is to organize To refresh the world; to inspire We have a relentless drive to invent things
the world’s information and make moments of optimism and that matter: innovations that build, power,
it universally accessible and happiness; to create value and move and help cure the world. We make
useful. make a difference. things that very few in the world can, but
that everyone needs. This is a source of
pride. To our employees and customers,
it defines GE.
Our mission state is simple, yet Warby Parker was founded with a The mission of Southwest Airlines is
the foundation of everything we rebellious spirit and a lofty dedication to the highest quality of
do here at Virgin Atlantic objective: to offer designer Customer Service delivered with a sense
Airways... to embrace the eyewear at a revolutionary price, of warmth, friendliness, individual pride,
human spirit and let it fly. while leading the way for socially and Company Spirit.
conscious businesses.
("Screw it, let's do it!”)
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banking mission statement examples
C&N's mission to enhance the To deliver great personal service
lives of our neighbors in the and the best financial products to
communities we serve. our customers – and the local
communities we serve.
To meet the needs of consumers To help our neighbors and the
and small businesses in the city businesses within our communities
of New York. realize their financial goals as a
trusted partner and friend.
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banking mission statement examples
Our mission is to be a well Create the most admired community Continuing our promise of
managed community-oriented bank that is growing in a prudent and Commitment while delivering
financial institution working to profitable way. We will achieve this consistent quality
provide quality products and through an unwavering commitment to experiences and providing
services to the retail consumer and highly satisfied customers, engaged options and banking solutions
small business customers through colleagues and the advancement of that meet your needs.
our branch network. our community.
The mission of Hudson Valley Bank is to To outperform every other bank in
remain a financially strong, independent, serving small to medium-sized
local bank serving customers in select businesses and their leaders in our
markets in ways that exceed their markets by leveraging top-performing
expectations, thereby creating superior professionals delivering a unique client
shareholder returns and exceptional service experience with the most
employee career opportunities. flexible range of financial solutions.
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mission statement exercise: critic’s corner
10 minutes:
Take 5 minutes to review the chosen mission statements for this exercise. On a piece of paper,
chose one you think is good, and one you think is bad, and write what you like or do not like about
each. Provide specific examples of what is lacking for those your don’t like, and what is included in
the ones you do.
After 5 minutes, we will take turns sharing what we do/do not like and discuss to better discern
why they are good or bad.
32
mission statement exercise: start somewhere
20 minutes:
Start somewhere. Get it all out there. Ask all the questions.
• Who is your company?
• What do you do? And why do you do it?
• What do you stand for?
• What markets are you serving, and what benefits do you offer them?
• What value does our company bring that's unique from other companies?
• Do you want to make a profit, or is it enough to just make a living?
• What kind of internal work environment do you want for your employees?
• Why did you go into business in the first place?
• What do you want this company's legacy to be?
• What doesn't matter to this company's legacy?
• How do you want to help people?
• Who are you not? What’s holding you back most?
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mission statement exercise: condense
10 minutes:
Condense, condense, condense
It’s a little easier to condense a vision statement, which should be short and sweet. While a mission is
the same in that respect, they are a little harder to condense since the mission encompasses more
elements.
A well-developed mission statement is a great tool for understanding, developing, and communicating
fundamental business objectives, and should be expressed in just a paragraph or two. If you read it out
loud, it should take about 30 seconds.
34
mission statement exercise: specify
10 minutes:
Make it specific.
There's a tendency to work in generalizations when writing a mission statement, because you're
trying to encompass…well, a mission. And missions are big. But if you get too specific, you'll back
yourself into a corner.
This isn't the right mindset. You can't be everything to everyone -- otherwise, what's your
differentiator? What are you adding to the universe?
35
mission statement exercise: cut the jargon
5 minutes:
Remove the jargon
If Google, Microsoft, and Amazon’s mission statements don’t have jargon, neither should yours.
Remember to check your list of banned words to ensure they do not show up in the mission
statement, either.
Key tips:
• Know your audience and speak in a way all will understand.
• Simplify without dumbing it down.
• Use examples or analogies when you can.
• Test it on your grandma.
• When in doubt, leave it out.
36
mission statement exercise: soul check
5 minutes:
Ask yourself: is it inspirational, believable, and will people want to get behind it?
Your mission should resonate with people, particularly you and your employees. It should address a real
problem -- or something people care about, at least. Think about why you wanted to get into your
business in the first place ... you were probably inspired by something, right? Whatever motivated you
then (unless it was for the money, in which case ignore this advice) might be what you want to tap into
when crafting your mission statement.
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