KPMG mission statement is “to turn knowledge and understanding of information, industries and business trends into value for our firms’ clients, our people and the capital markets.” The statement clearly states what the company seeks to implement while at the same time having the interests of its clients and the sector it operates in at heart. Based on this, the following characteristics can be associated with the mission statement:
- Improvement of life. KPMG is focused on creating a difference in everything it does, and this has been evidenced by the changes it has initiated in varied industries. The launch of progressive systems that addresses numerous issues of management in the banking, energy, and automotive among other sectors reveals the impact KPMG has across the board.
- Growing its sector. KPMG is not all about satisfying the needs of its customers. The company is more than that, with its reach extending to the establishment of platforms that gradually encourage overall growth of its market. In fact, it has demonstrated its commitment to the achievement of this characteristic in its mission statement through the resources directed towards research to understand the dynamics facing the audit sector.
The precision and specificity of KPMG mission and vision statement is an indication of what has grown the company into one of the most recognizable audit firms in the global arena.
Running a network of a firm offering a range of services often becomes a tall order for most management out there, but the case has been different for KPMG due to the strength of its mission and vision statements that have kept the company at the top level for over 33 years since its inception in 1987.
Ideally, the mission statement of a company highlights the strategic options exploited by the management to meet the objectives of that company. KPMG mission statement zeros on strategies through which it can exploit its expertise in perfecting what it delivers to its customers and the audit sector. In this, way, it also contributes to its mission statement which is all about the image the company wants to create in this sector.
In fact, KPMG vision statement identifies its desire to serve as a role model for the rest. Core values are critical elements that KPMG has tremendously benefited from especially in the way they realign all the functions of the company. Essentially, these guides and ensures everything, including the workforce, work as expected and remain committed to the mission and vision statements of the company.
KPMG vision statement is “Distinguished by the learning opportunities offered, through a platform which shares the expertise, knowledge and experience of professionals across a global network.” The vision statement emphasizes how KPMG wants to be identified by the market it serves and the rest of players – an emulatable firm. A scrutiny of this statement reveals several key parts:
- Distinguished by learning opportunities. KPMG meets this need by demonstrating through its wide range of activities that it does not just offer routine services. The company has dedicated efforts towards endeavors that generate new strategies, reaches out to institutions to empower and inspire change. In reality, it is a change initiator through absolute knowledge.
- Global network. The scope of KPMG operations is not limited to a nation or region. The company has expanded its reach, making it a global giant with influence being felt in 153 countries, and in numerous capacities such as in governments, capital markets and other varied agencies.
KPMG core values include “leading by example, working together, respecting individuals, seeking facts and providing insights, being open and honest in communications, commitment to communities, and acting with integrity.” Together, all these values are the crucial principles that keep KPMG operations in line with its mission and vision. Each of these factors has specific contributions to the success of the company.
The first one is a reflection of how KPMG strives to stay at the top with excellent services informed by research. It closely relates to the wide network of the company that promotes cooperation with all its network of firms, while emphasizing on respect, and evidence-based progress as shown by its second, third and fourth values.
The establishment of communication systems and inclusivity everywhere KPMG operates in, together with a call for making sure everything is executed rightly represents what the company holds dear.
- Abiodun, A. J. (2010). Interface between corporate vision, mission and production and operations management. Global Journal of management and business research, 10(2), 18-22.
- Analoui, F., & Karami, A. (2002). CEOs and development of the meaningful mission statement. Corporate Governance: The international journal of business in society, 2(3), 13-20.
- Babnik, K., Breznik, K., Dermol, V., & Trunk Širca, N. (2014). The mission statement: organisational culture perspective. Industrial Management & Data Systems, 114(4), 612-627.
- Dermol, V. (2012). Relationship between mission statement and company performance. Analele Ştiinţifice ale Universităţii» Alexandru Ioan Cuza «din Iaşi. Ştiinţe economice, 59(1), 325-341.
- Desmidt, S., & Heene, A. (2003, September). Mission statements: in search for ameliorated performance through organisation–employee value congruence. In First workshop of the EGPA Study Group on Ethics and Integrity of Governance.
- Harvey, M., & Lusch, R. (1997). Protecting the core competencies of a company: intangible asset security. European Management Journal, 15(4), 370-380.
- Hoffman, A. J. (2010). Climate change as a cultural and behavioral issue: Addressing barriers and implementing solutions.
- Kenny, G. (2014). Your Company’s Purpose is Not Its Vision, Mission or Values. Harvard Business Review. Sep, 3.
- Lencioni, P. M. (2002). Make your values mean something. Harvard business review, 80(7), 113-117.
- Mirvis, P., Googins, B., & Kinnicutt, S. (2010). Vision, mission, values. Organizational Dynamics, 39(4), 316.
- Mission, R. J. H. (2012). Vision statement.
- KPMG – About us.
- Pacter, P. (2014). Global accounting standards-From Vision to reality. Professional Accountant, 2014(1), 26-27.
- Salem Khalifa, A. (2012). Mission, purpose, and ambition: redefining the mission statement. Journal of Strategy and Management, 5(3), 236-251.
- Schultz, M., & Hatch, M. J. (2003). The cycles of corporate branding: The case of the LEGO Company. California management review, 46(1), 6-26.
- Stallworth Williams, L. (2008). The mission statement: a corporate reporting tool with a past, present, and future. The Journal of Business Communication (1973), 45(2), 94-119.
- Wąsikiewicz-Firlej, E. (2012). Reading the mission statement: On rhetoric and construction of corporate identity. From life to text: Building linguistic and cultural identity, 9-32.