QUALITY OF BANK’S MISSION STATEMENTS: A COMPARATIVE STUDY ON THE BANKING SECTOR OF BANGLADESH
Abstract
The objective of this paper is to find out the quality of mission statements of the banks operating in Bangladesh. For this, a comparative study has been made on the state owned and private commercial banks operating in Bangladesh. To evaluate the quality of mission statements, a Nine Point Scale model given by Fred R. David has been taken as benchmark. Besides, the study also aims at counting the number of sentences and words used in the respective bank’s mission statements. After analysis, it has been found that the scores obtained by state owned banks are 63% and the scores of private commercial banks are 59.45%. So, it is evident that state owned bank’s mission statements are in a better position than private commercial banks. It is also evident that both state owned and private commercial banks have less concern for markets and self-concept. The average length of the mission statement of state owned banks is 2.83(max. =10 and min. =1) sentences and 54.17 (max.126 and min. 25) words. On the other hand, the average length of the mission statements of private commercial banks is 4.35 (max. =12 and min. =1) sentences and 65.50 (max.235 and min. 9) words.
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