a 20 point worth answer please

246 Part 2 Pestorance Excellence. Stage, and Organization Theory employees recognize the importance of product 2. How can the mission statement be improved Set a better statement of mission, Vison, quality and service and move toward more puding principles favorable pricing. We need to change thinking throughout the organation to get employees involved, to encourage teamwork, to develop Tri-State National Bank more flexible workforce and adaptable organu tion. We need to instill pride in the workplace In assessing its position, Tri-State National and the product Rank noted the following: We believe that we can best achieve the As a result of the economic turmoil of the last desired future state by study of and adherence years, TNB started to discuss strategy almo to the teachings of w. Edwards Demine weekly. The bank maintains its focus on provid He did not fed that this mission statement pro ing services efficiently, and while it has always vided dear and vivid direction, especially in the maintained effective cost controls, this is more twenty-first century. Consequently, he set up a plan- important now than ever before. Deposit growth ning retreat for senior management to develop a new at TNB has been strong as it has acquired.com strategic Vision mers from bunk closures in the area TNB made key strategic decision to take advantage of federal Dission writion loans as part of TARP, resulting in a lower cont 1 Comment on the current mission statement. Does of capital for five years. Many competitors failed it provide the strategic direction necessary for to take advantage of this program and now rok success for this company? under capitalization. The figure below li TNBY key challenges and advantages Strategic Challenges 1. Addressing the many changes in banking regulations and more regulations coming in the future 2. Meeting varningstarpts while serving increasing numbers of customers using low-margin services 3. Addressing the loss of public confidence in the funcil industry in general and the impact this has had on customer confidence and expectation, particularly important in local community-focused banks such as TNB 4. Integrating the martial acquisition processes, which need to be streamlined, and workforce, which neede to benght-sed, into TNA's structure and culture Strategic Advantages 1. Taking advantage of the relatively low cost of TARP funds unlike some local competitors that are now facing capital constraints 2. Hometown bank with a reputation for stability and integrity, resulting in increasing market share due to acquiring customers fleeing other banks 3. Numerous opportunities for mergers and acquisitions for banks with capital 4. A loyal and stable workforce with low turnover despite dealing with difficult customers and cost reduction that require anociates to perform multiple jobs 5. Process discipline and a TOE focus enable TNB to process transactions better than competitors and as lower cost All calina What steps might the bank take to leverage its strategic challenges and address its strategic advantages? How should they incorporate these sinto differenton Stages and action plans? Support your concluso with good logical reasoning