The Kingdom of Saudi Arabia represents the center point for the Islamic and Arab countries. It is full of useful and valuable resources due to the geographical position and the unique culture that give the Arabians opportunities to take strong positions in the market. Albilad Capital Bank strives to increase its growth and development by reconsidering its core mission and vision. It should consider strong values and strategic objectives that can establish the direction for the future country’s growth. Therefore, all the suggested options aim to provide the Albilad Capital Bank’s most relevant and beneficial strategies, considering the current trends and national development program.
Since the bank is striving to renew its mission and vision from the start, it is crucial to identify the values and vectors of direction. Considering the modern trends, it is better to focus on adjusting international connections and expanding the range of investments such as technology, education, and natural resources. Cooperation with other countries and working with natural resources opens new perspectives on the financial market, while technology and natural resources can provide a high return on investment.
The first theme is international cooperation which aligns with the objectives of expanding the perspective on the business and investments, learning new approaches from the partners, and enriching the experience by implementing some specifics into the initial work method. Thus, the probable vision is to establish and maintain close and effective international cooperation and partnership with progressive countries. To achieve that, the mission includes working with European, African, and Asian countries to build diverse economic relationships and cultural backgrounds, which is a key enabler to the project.
The alternative theme is technology as a powerful tool and a key enabler for modernizing existing factories, machinery, and production processes. The vision is to be the primary investor in advanced technology projects. In turn, the mission is to support valuable technological solutions and research the new trends in the market in this field to impact the infrastructure evolution and gain a decent return on investment. The primary strategic objectives are to stimulate the production and implementation of innovative technologies to benefit modern society.
Although the Kingdom has enough natural resources, the following theme represents the high potential of broadening its investments in this sphere. Thus, the vision of the Albilad Capital Bank is to be an active participant in diversifying and revealing new promising economic areas that can be profitable and bring additional benefits to society. The mission implies attending the unfamiliar economic segments and investing in the broad spectrum of natural sources. Therefore, strategic goals include ensuring the most effective and profitable investments regarding natural resources.
The concluding suggestion for the Albilad Capital Bank’s possible vision is to be a local provider of practical financial solutions for the younger population to get a better education and necessary knowledge. The mission is to develop programs to help youth enter colleges and universities by offering them loans under beneficial conditions and investing in educational institutions. Human resources are crucial for any modern economy, which is a central theme of the mission and vision (Timmes, 2021). The current approach brings advantages to the nation as a whole since, with the increased quality of competencies, future generations will be able to contribute to the country’s flourishing continually. Thus, the strategic objectives include a significant number of high-quality specialists who would contribute to the national economy and create a demand for them from abroad.
Overall, there are four main concepts of the mission and vision of the Albilad Capital Bank. They all are connected with the strengthening of international relationships, development of technologies, diverse investments into natural resources, and focus on education. The themes and strategic goals aim to provide profit for the bank itself and its contribution to the economy and society.
Reference
Timmes. M. (2021). Eight tips for recalibrating mission, vision, and values statements. Forbes. Web.