What Is The Core Value Of Visa Inc.
Analysis of Visa Inc
Visa is a corporation which began as a concept under Bank of America. The company’s initial focus was to create a payment system that could be used around the world. This payment system began as the first consumer credit card, otherwise known as BankAmericard. After the first 18 years of the BankAmericard, Visa was born in 1976. Visa expanded on the initial goals by not only wanting to create a global payment system, but also attempting to create a digital method of payment. This change to a digital system would lead the way in the financial industry.
Although many think of credit companies as shady, Visa’s core values would show a much brighter idea. The core values brought to the table are a Responsibility, Trust, Customer Relations, and Transparency. These values were created to promote the idea that clients need to be earned, and that they are the center of the business, not the company. …show more content…
For example, transparency is shown through its yearly Corporate Responsibility Report (Visa 2016). This report essentially is a roadmap for what is being done, how they intend to improve, and what has changed. It can also be noticed that in the report, the business rarely boasts about itself, it uses its customer relations to sell itself, demonstrating yet another of its values. Visa’s other two values, Responsibility and Trust, are difficult to build. Yet, they have succeeded through the creation of their own governing board, transparency, and adherence to regulations. The creation of their own governing body is extremely important in retaining responsibility, especially in such a large company. This allows decisions to flow through a chain of command, which promotes personal responsibility within the
Visa is a corporation which began as a concept under Bank of America. The company’s initial focus was to create a payment system that could be used around the world. This payment system began as the first consumer credit card, otherwise known as BankAmericard. After the first 18 years of the BankAmericard, Visa was born in 1976. Visa expanded on the initial goals by not only wanting to create a global payment system, but also attempting to create a digital method of payment. This change to a digital system would lead the way in the financial industry.
Although many think of credit companies as shady, Visa’s core values would show a much brighter idea. The core values brought to the table are a Responsibility, Trust, Customer Relations, and Transparency. These values were created to promote the idea that clients need to be earned, and that they are the center of the business, not the company. …show more content…
For example, transparency is shown through its yearly Corporate Responsibility Report (Visa 2016). This report essentially is a roadmap for what is being done, how they intend to improve, and what has changed. It can also be noticed that in the report, the business rarely boasts about itself, it uses its customer relations to sell itself, demonstrating yet another of its values. Visa’s other two values, Responsibility and Trust, are difficult to build. Yet, they have succeeded through the creation of their own governing board, transparency, and adherence to regulations. The creation of their own governing body is extremely important in retaining responsibility, especially in such a large company. This allows decisions to flow through a chain of command, which promotes personal responsibility within the