Deloitte Mission Statement and Vision Analysis

Deloitte Touche Tohmatsu, commonly referred to as Deloitte, is one of the Big 4 accounting firms and the largest multinational professional services network in the world. Deloitte employs around 335,000 people around the world and reported $47.6 billion revenue in FY2020.

Deloitte’s main competitors are PwC, Ernst & Young and KPMG. Deloitte has the highest revenue out of the four, with PwC earning $43 billion, EY earning $37.2 billion and KPMG earning $29.75 billion. PwC has the largest market share in accountancy, which of course is what the Big 4 are known for. However, some of Deloitte’s other professional services such as consultancy have a larger impact. Deloitte is headquartered in London, along with EY and PwC.

Deloitte’s Story

Deloitte Touche Tohmatsu was founded by three men, William Deloitte, George Touche and Adm Nobuzo Tohmatsu.

William Deloitte opened his first accountancy office in 1845 at the age of 25. This is when the company is officially considered to be founded. William Deloitte became the first ever independent auditor to be appointed, when the Great Western Railway asked him to uncover financial frauds and create a system which would protect investors from mismanaged funds. He then served as the president of the institute of chartered accountants. In the late 19th century William expanded his accounting branches throughout the United States. In 1952, Deloitte merged with Haskins & Sells to form Deloitte Haskins & Sells. In 1969, Deloitte adopted Touche Ross & Co.

Touch, who later changed his name to Touche, found his opportunity in the booming investment trust industry. He was known for being able to turn around struggling businesses and putting them on the right tracks. This led to him creating George A. Touch & Co. in 1899. One year later, he established an office in New York. After a series of mergers, Touche, Niven & Co. merged with Allen R. Smart & Co., and then in 1990, this joint company merged once again, with Deloitte to form Deloitte & Touche.

Tohmatsu worked in the navy for most of his career and only became a certified accountant at the age of 57 in 1952. In 1967 he became the president of the Japanese Institute of CPAs (Certified Public Accountants). He formed Tohmatsu & Co. in 1968. Tohmatsu & Co. started working closely with the Touche Ross International network for the next few decades.  In 1989, the firm has 800 people in its Tokyo office, and many on assignment in Touche Ross offices around the world. In 1993, Tohmatsu officially joined Deloite & Touche to form what we have today, Deloitte Touche Tohmatsu Limited.

Today, Deloitte provides many professional services including audit, consulting, risk management and tax services. As of June 2015, the CEO of Deloitte is Punit Renjen.

Deloitte’s Mission Statement Analysis

Deloitte’s shared belief is “to help our clients and our people excel. We are one of the world’s leading business advisory organisations. Our size, strength and resources will help us carry out our mission now and in the future.”

Deloitte’s fundamental principles are the main thing contributing to their long term success. These principles include diversity, sustainability, good ethics and a collaborating mindset.

  • Diversity: Strength from cultural diversity is very important to Deloitte as it is the right thing to do and it offers clients a more diverse range of solutions to their problems.
  • Sustainability: Deloitte is very committed to being a sustainable company. For example, the new headquarters in London is the largest office in the world to achieve leading certifications for both an exemplar green building and it is designed to help the firm’s people excel.
  • Ethical: By acting with integrity, Deloitte has earned the trust of clients and the public. Upholding that trust is their most important responsibility.
  • Collaboration: Deloitte works with a collaborative mindset, encouraging different divisions and workers from different locations to work together to achieve results. This is likely a result of all the mergers the founding companies have been through.

Deloitte’s Vision Statement Analysis

“Our vision and strategy, developed in collaboration with leadership and member firm partners from around the world, focuses on working together As One across geographic, functional, and business borders to deliver excellence in all of the services provided by the member firms.”

Deloitte’s vision is unchanging, they aim to be the first choice that clients go to for financial professional services and the first choice that talent goes to for career opportunities. After all, they aspire to be “the Standard of Excellence” in the industry.

Deloitte’s vision is based around a number of core values which are the reason for Deloitte’s fantastic reputation as one of the Big 4 accountancy firms.

Deloitte’s Core Values Analysis

“Our shared values are timeless. They succinctly describe the core principles that distinguish the Deloitte culture, which is consistent worldwide.” Deloitte has 5 core values:

  • Lead the way

Deloitte is the leading professional services organisation in the world based on revenue and employees. They are able to prepare their clients to have successful futures through Deloitte’s expertise.

  • Serve with integrity

Deloitte believes in always doing what is right and moral. Integrity is taken into account for every deision that has to be made. The company does not want to act in an irresponsible way, rather it wants to continue with its great reputation.

  • Take care of each other

Deloitte places “a premium on respect, fairness, and trust – working together to achieve our aspirations.” They reward performance very well and provide opportunities for growth and leadership.

  • Foster inclusion

Deloitte is committed to attracting a diverse workforce in order to make their culture inclusive. This allows clients to feel welcome and have a more broad range of solutions for their problems.

  • Collaborate for measurable impact

Deloite measures success not only by their strong financials, they also value the strength of the relationships with clients and employees.

FAQ

What is Deloitte Touche Tohmatsu?

Deloitte Touche Tohmatsu (dtt limited) is a multinational professional services network and one of the accountancy ‘Big 4’.

How can I get in contact with Deloitte?

If you want to be a client of You can contact Deloitte if you use their website by clicking the following link:

https://www2.deloitte.com/uk/en/footerlinks/contact-us.html

There they list a variety of contact information.

What are the career opportunities at Deloitte?

Deloitte is a great employer as their brand comes with a lot of prestige. This is especially important for young talent who have financial skill sets, coming out of university who are trying to set up their early career to help them in the future. A good role would be to join the consulting service as they pay graduates £21,000 to £35,000 in the UK according to Glassdoor reviews.

https://sites.google.com/site/bradsbusinesseportfolio/home/deloitte/a-history

https://www2.deloitte.com/am/en/pages/about-deloitte/articles/vision-values-strategy.html

https://www2.deloitte.com/sg/en/pages/careers/articles/our-values.html

https://www2.deloitte.com/lu/en/pages/about-deloitte/articles/culture-beliefs.html#:~:text=Our%20mission%20is%20to%20help,now%20and%20in%20the%20future.&text=Our%20shared%20beliefs%20are%20the,long%20lasting%20success%20at%20Deloitte.

Randy Nash