Mission Mangement & Trust Essay

991 Words Jun 5th, 2012 4 Pages
1. How do the mission elements of Mission Management differ from most firms?

Mission Management and Trust developed a unique strategy that highlighted socially conscious policies combined with good business relations. Founder Carmen Bermudez started Mission with three principal goals in mind. 1. To run a top-quality trust company; 2. To promote within the company and, by example, increase opportunities for women and minorities; and 3. To donate a portion of all revenue to charitable projects supported by clients and staff. This mission is very different from most trust management firm practices – firms are expected to provide economic sustenance and material well being. Most investors want a high rate of return for their trusts,
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I don’t believe that Mission is not demonstrating financial prudence by meeting one of its principle goals to donate a portion of its profits to charities. Employees and clients alike are made aware that Mission has made a commitment to charitable causes. They aren’t hiding this fact and they also aren’t taking client investments and giving them to charity. They are donating a portion of their profits. If anything, they are probably focused on making the clients more money so that their profit is larger and that they can dip into their profits and give to charity. We aren’t provided in the case with financial information on how much Mission profits have, however, in the grand scheme of things donating $4,500 to charity does not seem excessive and is probably at the same level of care that any prudent person in a like position and similar situation would make. They must be doing something right – they earned the prestigious ATHENA award.

3. Could Mission’s unique mission contribute to effective coordination as well as adjustment to the market?

Coordination is the set of mechanisms that an organization uses to link the actions of their units into a consistent pattern. Mission’s commitment to its ideals is evident and reflected in all of its business practices from HR to investing to marketing, etc. If they keep up this coordination and consistent pattern the market will recognize their unique mission and

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