Mission Statement Tracey McPeek Mount Vernon Nazarene University Group BBA009NW MAN4033 Strategic Planning July 12, 2010 Aetna’s Mission Statement Aetna’s mission statement summarizes our core purpose, the fundamental reason the company is in business. The mission is both our heritage and our reason for being in business. Aetna is dedicated to helping people achieve health and financial security by providing easy access to safe, cost-effective, high-quality health care and protecting their finances against health-related risks.
Building on our 156-year heritage, Aetna will be a leader cooperating with doctors and hospitals, employers, patients, public officials and others to build a stronger, more effective health care system. Aetna has been in the insurance business for over 156 years. They provide more than just health insurance. They provide peace of mind when it comes to finding affordable, trustworthy and high- quality healthcare as it states in their mission statement.
Aetna demands diversity within its own corporate walls and recognizes the importance of diversity in all aspects of its business-their workforce, customers, supplies, health care professionals, and in their products and services. Revised Mission Statement Aetna will provide best in class service to not only all of their employees but to all their constituents’. Aetna will continue to hold itself above all to be honest and true to the values and everything that we stand for. How will we do this you may ask? By meeting our constituents’ needs, we can fulfill our mission and achieve business successes.
Diversity plays a key role in our company. Aetna’s Mission will consist of four elements: Our Mission (why we exist), our overarching goals (what we are trying to achieve), our values (what we believe in) and our business principles (how we run our business) These elements of the Aetna Way are as important to us as they are to you. They are all mutually reinforcing the components that guide us as a company and as individual employees. Our company’s mission, values and goals are expressed through The Aetna Way.
The Aetna Way, comprising the elements below, encompasses our shared sense of purpose and provides clarity as we pursue our operational and strategic goals: • Why We Exist: The Aetna Mission • What We Believe In: Our Values • What We’re Trying to Achieve • How We Run Our Business Aetna will provide best in class service to not only all of their employees but to all their constituents’. Aetna will continue to hold itself above all to be honest and true to the values and everything that we stand for. How will we do this you may ask? By meeting our constituents’ needs, we can fulfill our mission and achieve business successes.
Diversity plays a key role in our company. Diversity is a reality in labor markets and customer markets today. To be successful in working with and gaining value from this diversity requires a sustained, systemic approach and long-term commitment. Success is facilitated by a perspective that considers diversity to be an opportunity for everyone in an organization to learn from each other how better to accomplish their work and an occasion that requires a supportive and cooperative organizational culture as well as group leadership and process skills that can facilitate effective group functioning.
Organizations that invest their resources in taking advantage of the opportunities that diversity offers should outperform those that fail to make such investments. A diverse workforce and climate enable employers to tap into a diverse talent pool/knowledge base, and make full use of contributions from all employees. A successful organization leverages the differences in employees and allows employees to attain their full potential. We seek to achieve superior customer satisfaction through nnovative products, comprehensive health and related benefits choices, effective service and easy-to-understand information Our goals are: • To give individuals and families affordable coverage choices, helpful service and information so they can make better-informed decisions to optimize their health and financial security. • To respect and work effectively with doctors and hospitals by establishing efficient processes and providing prompt claims payments and useful information that helps them provide safe, cost-effective, high-quality health care. To provide employers information, advice, cost-effective benefits options and programs that improve the health and productivity of their employees, thus providing real value for their investment in employee benefits. • To partner with brokers and consultants through responsive best-in-class service, timely information and attractive commissions so they may effectively advise employers on their employee benefits choices. • To offer employees an engaging and diverse work environment that enables them to satisfy their professional ambitions, take pride in their contributions and share in Aetna’s success. To be a responsible corporate citizen, improving the quality of life in communities where we live and work. • To award shareholders a superior return on their investment in our company. Based on our values, which guide our day-to-day activities, we adhere to specific business practices that help us fulfill our mission, reach our goals, and achieve profitable growth. • Plans: We build and monitor business plans, taking corrective actions on negative variances. • Products: We develop and accurately price innovative products. Networks: We develop and manage networks of doctors and hospitals to support multiple product and funding choices. • Access to Care: We provide our members access to cost-effective high-quality health care while accurately predicting and managing medical costs. • Claims and Billing: We achieve timely and accurate claims payments and premium billing and collection. • Productivity: We pursue continuous productive and process improvement. • Service: We work together effectively cross the organization to give our customers quality service. Information: We provide objective information to help our members make informed decisions about their financial and health care needs. • Integrity: Achieve financial and operational integrity through clear, prompt and reliable information that accurately reflects our financial and operational performance. • Rewards: We appreciate effort but we recognize and reward employees for achieving business results. • Satisfaction: We deliver superior customer satisfaction. • Respect: We treat each other with respect and collaborate to achieve results.
Aetna will be the industry leader in the diverse marketplace. We will deliver best-in-class service to our customers because we want them to be comfortable when doing business with us. To earn the distinction, financially and by reputation, of being the preferred benefits company in all aspects of our business. We strive to be the industry leader by including the best ideas and perspectives available. This in turn enables Aetna to develop the most relevant solutions for each of our markets. To achieve this mission we will: |[pic| |Create innovative and tailored product and service solutions that will meet the unique needs of our customers |] | |Develop a diverse supplier base reflecting our multicultural environment that supports innovative ways to deliver best-in-class | | |services to them | | |Build a workforce that fully understands the diverse communities where we do business | | |Foster a culture of inclusion that grows a diverse talent pool and recognizes and rewards the contributions of every employee while | | |allowing employees to do their best work | | |Aetna’s focus on corporate responsibility is evident in everything we do, from adherence to strict ethical guidelines and corporate | | |governance standards to longstanding support of the communities where we do business.
We have a clear track record for social | | |responsibility that starts with our member-focused mission statement and set of values and culminates in responsible business | | |policies and practices. It is a record that speaks directly to the priorities of many firms today that want and expect to do business| | |with socially responsible companies | | | | | References Aetna. (2010, July 10). Retrieved from http://www. aetna. com/about-aetna-insurance/aetna-corporate-profile/index. html Thompson, A. (2010). Crafting and executing strategy. New York, NY: McGraw-Hill
