It relies on strong teamwork to mold independent viewpoints into coherent, effective policies. Resource management begins with a clear mission statement, identification of goals, a review of factors that might affect the long-term attainment of these goals, and consideration of possible responses to those factors.
Private-sector planning often relies on measures of cost and revenue derived from prices determined in competitive markets; the results of that planning are reflected in the ability of the private entity to prosper over time.
Strategic Goals The Board has six primary strategic goals with interrelated and mutually reinforcing elements: The Board, like the framers of the Federal Reserve Act, considers its budgetary independence directly relevant to independence in managing monetary policy.
The conduct of monetary policy, responsibility for bank supervision, and maintenance of the payment system demand high-quality analysis; high performance standards; and a secure, robust infrastructure.
Efficiency is increased by early identification of issues and timely responses.
Effectiveness is improved through timely identification of threats and through efforts to improve operational efficiency. By establishing objectives to attain its goals and by identifying the resources needed to accomplish them, the Board develops a budget necessary to implement its strategic plan.
Rather, the Board establishes its own budget formulation procedures, conducts strategic planning to identify changes to its critical activities and the proper amount and allocation of resources to support its mission, and provides various reports to the Congress.
As technological and other changes evolve and accelerate, planning is essential to the effective and efficient conduct of Board operations. The Board adheres to the highest standards of integrity in its dealings with the public, the financial community, and its employees.
Moreover, the results are judged relative to public policy objectives embodied in law, which often are not readily measurable.
In its actions and policies, the Board seeks to promote the public interest. A continuing challenge to government agencies in this regard is identifying the appropriate measures of performance.
The government does not have direct competition in certain areas and has a monopoly in others conducting monetary policy, for example ; establishing a comparable metric to costs and prices is therefore extraordinarily difficult.
It is accountable and responsive to the general public, the U. Strategic planning is a critical factor in ensuring the long-term effectiveness of Board operations and in minimizing its costs.
The Board seeks to accomplish its mission effectively while creating the efficiencies that come from strategic planning, recognizing that analogies to the private sector are just that.
The Board believes that to maintain budgetary independence, it must demonstrate effective and efficient use of its financial resources.The official vision statement of ICICI Bank is: "To be the leading provider of financial services in India and a major global bank." The mission statement of ICICI Bank consists of several points, but the first is to become the first choice among customers by providing world-class services.
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Mission Nad Vision Of Axis Bank Introduction This assignment is prepared to find out the mission, vision and value statements of some organizations from different industries In this assignment I will also try to find out whether these firms put emphasize on quality in their vision and mission statement.
This report looked into the mission, vision and value statements of McDonald’s, Bank. Resource management begins with a clear mission statement, identification of goals, a review of factors that might affect the long-term attainment of these goals, and .Download