Vision and Mission Statement of Pricewaterhouse Coopers Paper Example

Pricewaterhouse Coopers is a multinational accounting company with branches in various parts of the world. All firms develop vision statements which are an aspirational description of what the organization would like to achieve presently and in future which constitutes its primary purpose, focus and core values. The essay will discuss the organization's vision and mission statements by applying Porter's five force model.

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Save 25%

Pricewaterhouse Cooper's mission is to convey a rational and explained auditing service, enhance the demonstration of financial material and therefore to help the firm obtain trust from financiers. Some of the company's values entail acting with honor, making a difference, providing care and working together. Additionally, their vision statement is hoping to gain recognition for their strong work ethic and applying best practices in all areas of governance. In this way, it maintains transparency and ends up being the leading organization in their area of expertise. All this is further attained by hiring professional and adaptable people. It is also relevant to ensure that the workers have sufficient knowledge and can offer international expertise ("Our purpose and values", 2017).

An organization like Pricewaterhouse Coopers has both internal and external business environments. The latter refers to the business environment that the organization has little or no control over but directly affects its affairs. Porter's five forces analysis can be used to assess the external business environment. Regarding competitive rivalry and threat of new entrants, PWC is considered as the best of the "big four" accounting firms and has managed to keep new entrants at bay. It is undertaken by continually evolving and updating their customer and terms of service policies. The policies are well tailored to the customer's needs and will change them where necessary. Furthermore, it has managed to keep up with the threat of substitute products and services by observing trends in the market, technological changes and making adjustments. Additionally, the use of cloud accounting and having a clear social media strategy has positioned them very strongly in the accounting and auditing sector (Dobbs, 2014).

Nonetheless, the proposed Grundy model seeks to combine and relate it to other growth drivers and PESTLE factors that are political, economic, social, technological, environmental and legal forces. Further discussed in the model was scrutinizing the sub-forces in operation and the dynamics and effect of the industry outlook that will only strengthen their grip in the accounting and audit sector (Dalken, 2014).

Conclusion

The paper has explored Porter's five force model and reviewed Pricewaterhouse Cooper's mission and vision statements in line with the model. Various improvements could be made whereby integrating artificial intelligence and automation will increase the capacity for advanced analysis. As such, it means people will need basic knowledge and accounting skills.

References

Dalken, F. (2014). Are porter's five competitive forces still applicable? a critical examination concerning the relevance for today's business (Bachelor's thesis, University of Twente).

Dobbs, M. (2014). Guidelines for applying Porter's five forces framework: a set of industry analysis templates. Competitiveness Review, 24(1), 32-45.

Our purpose and values. (2017). Retrieved from https://www.pwc.com/gx/en/about/purpose-and-values.html