BancorpSouth Mission Statement 2020 | BancorpSouth Mission & Vision Analysis
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BancorpSouth Mission and Vision Statements Analysis

BancorpSouth Mission and Vision Statements Analysis

Introduction

The mission and vision statements of BancorpSouth guide this bank into a successful developmental path through their emphasis on doing more to leave a legacy where it operates. With over a century in operations, this bank holding corporation has established its brand considering its reputation within the United States. In fact, this popularity is evidence of how efficiently BancorpSouth meets all its customer expectations just as expressed in its mission and vision statements.

Particularly, the vision statement of this financial giant underscores the desire of the company to be influential in the banking sector in the U.S. and beyond. On the other hand, the mission statement of BancorpSouth is a reflection of the approaches that the institution considers crucial for its growth. As guided by its core values, this establishment continues to execute ad fulfil activities that take it closer to its ambition. Today, BancorpSouth is a major player in the banking sector within the Mississippi region and in 9 other states.

BancorpSouth Mission Statement

BancorpSouth mission statement is “to provide relationship-focused financial services in a manner that: exceeds the expectations of our customers, supports the betterment of our communities, instils pride and passion in our teammates, and delivers value to our shareholders.” The vision statement is an expression of both the long and the short term ambitions of the company that would, in turn, lead BancorpSouth to its future position. There are several characteristics in this statement:

  1. Distinguished financial services
  2. Improving communities

In this mission statement, the products and services that BancorpSouth provides to its customers are prioritized. The company has a historical record of respecting and acknowledging the importance of streamlined finances among other related aspects. In line with this, it provides different services such as wealth management, loans and saving, and by doing so, contributes towards the general welfare of the communities where it operates.

Vision Statement

Although BancorpSouth is yet to publish its vision statement, there is no doubt that this company strives to be at the very top in the financial and banking industry.

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Such ambitions are evidenced by its diversifications such as the establishment of the BancorpSouth insurance services as well as its recent acquisition of Ouachita Independent Bank. Such progress is an indication of a company focused on becoming the best.

Core Values

BancorpSouth core values comprise “honesty, integrity, respect, diversity and inclusion.” This is a reflection of the culture that sustained BancorpSouth excellent performance for all these years despite the past economic turmoil. Due to their applicability, this company has grown into a reputable entity in the U.S.

References

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  • Chun, R., & Davies, G. (2001). E-reputation: The role of mission and vision statements in positioning strategy. Journal of Brand Management8(4), 315-333.
  • Ferreira, J. J., Jalali, M. S., & Ferreira, F. A. (2018). Enhancing the decision-making virtuous cycle of ethical banking practices using the Choquet integral. Journal of Business Research88, 492-497.
  • Kaynak, E. (1986). Globalisation of banks: an integrative statement. International Journal of Bank Marketing4(3), 3-8.
  • Peyrefitte, J., & David, F. R. (2006). A content analysis of the mission statements of United States firms in four industries. International Journal of Management23(2), 296.
  • S Eric Anderson PhD, M. B. A., & Brad Jamison PhD, M. B. A. (2015). Do the top US corporations often use the same words in their vision, mission and value statements?. Journal of Marketing and Management6(1), 1.
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