How do I draw that arrow? I use scissors to cut out parts of the path but the end became pointy.
In Illustrator add an Arrowhead via the Stroke options palette (choose the More Options from the palette options in the upper right corner if you don't see the same options below.
Go to the Object Menu and choose Expand Appearance. This will turn the arrow head into an editable vector path. Optionally you can go to Object Menu -> Path -> Outline Stroke. This option is good if you are 100% happy with your stroke width – the first option retains the ability to alter the stroke width.
Press the - key (or hold down on the Pen tool to get the Delete Anchor Point Tool) and click on the point of the arrow indicated below:
The arrowhead will now look like this:
Ungroup your line and arrow head and move the arrowhead in line with your stroke object:
Obviously that shape isn't exact to your example but since you indicated using the Scissors tool you seem to know how to the start this.
For myself, I would draw the arrow shape directly using the insert>vector command, use not the stroke but the fill, and create a symbol of the finished arrow. I'd put in the text, rotate a copy of the arrow, then save those all grouped as another symbol (with the original arrow symbol nested inside) and that way it's all easily editable later if needed.