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1 Building a Mission + Vision

Building a vision + mission

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Building a Mission + Vision

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• Review goals for Commercial Lending ads • Revisit Brand Breakdown and Brand Being • Goals of workshop • Storytelling • Vision and Mission statement overview • Vision statement review and exercise • Mission statement review and exercise • Next steps

agenda

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revisit brand being and brand breakdown

customer

quest brand beinglandscape

brand

In our last meeting we reviewed the Dime Brand Breakdown and Being, we will revisit to discuss feedback and next steps for evolution.

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How vision + mission fits into your brand being

customer

landscape

quest

brand

ULTIMATE TRUTH OF THE TARGET CUSTOMER. THEIR ESSENCE, INTEREST, AND

ULTIMATE INSIGHT IN RELATION TO YOUR BRAND

the brand being

SUM UP THE STATE OF AFFAIRS IN YOUR MARKET. WHAT IS THE COMPETITIVE TRUTH, AND WHERE DO YOU

FIT IN.

WHAT DOES YOUR BRAND REPRESENT TO YOUR

AUDIENCE, TO BUSINESS, AND ITS ULTIMATE ESSENCE

VISION MISSION

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brand breakdown: vision & mission

customer

landscape

quest

brand

the brand being

MISSIONINTERNET BANKING RULES BUT CUSTOMER SERVICE

AND COMMUNITY INVOLVEMENT

ARE ESSENTIAL

A GOOD AND TRUE NEW YORK BANK WITH

NO DISTINCT VOICE

VISION

SUPPORT MY NEIGHBORHOOD,

SUPPORT MY LIFESTYLE, SUPPORT ME, AND WE CAN DO BUSINESS

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Workshop Goals

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The core elements essential to every successful strategic plan are:

• Vision • Mission • Core Values • Strategic Areas of Focus  • Strategic Goals • Action Plans

goals of workshop

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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

goals of this workshop

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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.

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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.

a starting point for dime

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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.

a starting point for dime

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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.

a starting point for dime

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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

Outlines where you want to be. Communicates both the purpose and values of your business.

Answers, ‘Where do we aim to be? ‘

Talks about your future.

Lists where you see yourself some years from now. It inspires you to give your best. It shapes your understanding of why you are working here.

Features of an effective statement: Clarity and lack of ambiguity: Describing a bright future (hope); Memorable and engaging expression; realistic aspirations, achievable; alignment with organizational values and culture.

Talks about how you will get to where you want to be. Defines the purpose and primary objectives related to your customer needs and team values.

Answers, ‘What do we do? What makes us different?’

Talks about the present leading to its future.

Lists broad goals for which the organization is formed. Its prime function is internal; to define the key measure or measures of the organization's success and its prime audience is the leadership, team and stockholders.

Features of an effective statement: Purpose and values of the organization: Who are the organization's primary clients (stakeholders)? What are the responsibilities of the organization towards the clients?

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Crafting a Vision Statement

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• 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.

vision statement

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vision statement examples

Original: A computer on every desk and in every home. Now: To enable people and businesses throughout the world to realize their full potential.

To bring inspiration and innovation to every athlete* in the world

* If you have a body, you are an athlete.

Affordable solutions for better living.

To establish Starbucks as the most recognized and respected brand in the world. To help people be healthy,

secure and comfortable. To be Earth's most customer-centric company where people can find and discover anything they want to buy online.

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banking vision statement examples

With 200 years of experience meeting the world's toughest challenges and seizing its greatest opportunities, we strive to create the best outcomes for our clients and customers with financial solutions that are simple, creative and responsible

As part of our vision to make lives better, we've made the following commitments: To truly meet consumer needs. Give people what they would expect from us. Create lasting relationships with our customers. Having a Culture of Innovation.

At JPMorgan Chase, we want to be the best financial services company in the world. Because of our great heritage and excellent platform, we believe this is within our reach.

We aspire to be the leading client-centric global universal bank

To be the better bank. We will be the best run, customer-focused, integrated financial institution, with a unique and inclusive employee culture.

We want to satisfy all our customers’ financial needs and help them succeed financially.

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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.

vision statement exercise: critic’s corner

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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.

vision statement exercise: banned & pivotal words

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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?

vision statement exercise: start somewhere

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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.

vision statement exercise: vision of one

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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.

vision statement exercise: cut the jargon

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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.

vision statement exercise: soul check

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Crafting a Mission Statement

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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.

mission statement

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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

mission statement

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mission statement examples

Google’s mission is to organize the world’s information and make it universally accessible and useful.

To refresh the world; to inspire moments of optimism and happiness; to create value and make a difference.

Our mission state is simple, yet the foundation of everything we do here at Virgin Atlantic Airways... to embrace the human spirit and let it fly. ("Screw it, let's do it!”)

Warby Parker was founded with a rebellious spirit and a lofty objective: to offer designer eyewear at a revolutionary price, while leading the way for socially conscious businesses.

The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit.

We have a relentless drive to invent things that matter: innovations that build, power, move and help cure the world. We make 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.

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banking mission statement examples

To meet the needs of consumers and small businesses in the city of New York.

To deliver great personal service and the best financial products to our customers – and the local communities we serve.

To help our neighbors and the businesses within our communities realize their financial goals as a trusted partner and friend.

C&N's mission to enhance the lives of our neighbors in the communities we serve.

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banking mission statement examples

Our mission is to be a well managed community-oriented financial institution working to provide quality products and services to the retail consumer and small business customers through our branch network.

Create the most admired community bank that is growing in a prudent and profitable way. We will achieve this through an unwavering commitment to highly satisfied customers, engaged colleagues and the advancement of our community.

Continuing our promise of Commitment while delivering consistent quality experiences and providing options and banking solutions that meet your needs.

To outperform every other bank in serving small to medium-sized businesses and their leaders in our markets by leveraging top-performing professionals delivering a unique client service experience with the most flexible range of financial solutions.

The mission of Hudson Valley Bank is to remain a financially strong, independent, local bank serving customers in select markets in ways that exceed their expectations, thereby creating superior shareholder returns and exceptional employee career opportunities.

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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.

mission statement exercise: critic’s corner

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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?

mission statement exercise: start somewhere

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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.

mission statement exercise: condense

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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?

mission statement exercise: specify

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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.

mission statement exercise: cut the jargon

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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.

mission statement exercise: soul check