Question

Critically evaluate the vision statement of American Express: “We work hard every day to make American Express the world’s most respected service brand”

Answer 1

INTRODUCTION

AMERICAN EXPRESS

American Express is a leading issuer of personal, small business, and corporate credit cards. The company's travel-related offerings include traveler's checks, credit cards, corporate and personal travel planning services, tour packages, and agencies for hotel and car-rental reservations.

American Express is best known for its Green, Gold, and Platinum charge cards. ... American Express cards issued in the United States range in cost between no annual fee (for Blue and many other consumer and business cards) and a $550 annual fee (for the Platinum card).

“We work hard every day to make American Express the world’s most respected service brand”

American Express mission statement is “provide the world’s best customer experience every day.” The company displays its resolute willpower to do everything to impress its customers with its services. It does this by:

1. Distinguished services
2. Improving lives

The main business operation of the American Express is the provision of financial services and related products. Through its experts and integrated systems, the firm offers attractive, dependable and secure products such as credit cards and business credit cards. Other services that show it has come of age comprise the diverse corporate programs and savings accounts. To satisfy the second aspect of this mission statement, American Express ensures that all its services are customer-tailored. This gives them an opportunity to choose what satisfies their financial needs and leads to their financial freedom.

The mission and vision statements of the American Express corporation represent a company whose value for its customers is unmatched despite its transformations. Since 1850 when it first came into operation, this firm has always put the needs of its customers first, something that its two corporate statements continue to emphasize today. A corporate vision statement describes the future of a company, while a corporate mission statement outlines the strategic ways of getting to that future.

In this case analysis, the vision statement focuses on the experiences that the customers get while interacting with American Express. The mission statement identifies the importance of providing outstanding products and services to satisfy the needs of its customers. To achieve these objectives, the American Express borrows from its core values. They contribute to the capability of the company to grow and meet all its ambitions.

VISION STATEMENT

American Express vision statement is “to become essential to our customers by providing differentiated products and services to help them achieve their aspirations.” The statement emphasizes the reliability of this company to its customers. The following components relate to it.

1. Become essential
2. Help customers achieve their potential

The American Express has built a reputable and dependable brand through history making it a part of the people it serves. Its understanding of the needs of the people is reflected by the financial products and services it gives them to improve their lives.

CONCLUSION:

American Express core values comprise “deliver for customers, make it great, doing right, respect, diversity, team spirit, and community-oriented.”

To remain competitive for more than a century, a company requires strong guiding principles. The American Express has, therefore, greatly benefited from these core values making it a global corporation in the modern era.