2.1 INTRODUCTION
A mission and vision are standard and critical elements of a company’s organizational strategy. Most established companies develop organizational mission statements and vision statements, which serve as foundational guides in the establishment of company objectives. The company then develops strategic and tactical plans for objectives. The mission and vision of an organization is its lifeline to sustainability. They establish its purpose of being today and aspiration of tomorrow. A clear mission offers organizations clear information for every day decision-making. Why they exist today. A clear vision outlines the organizations ambition for the future. What they aspire to be. Mission and vision offer distinct perspectives, but they’re interrelated in a sense that they both drive an organization to express a singular purpose.
Vision statements are sometimes confused or used synonymously with mission statements. However, vision statements should offer more of a direction and include a perspective of corporate values. A vision might provide a direction for the company for the next five to 10 years, while also noting a commitment to integrity, transparency, openness and other such values. It should inspire employees and given them a sense of purpose.
A company’s mission statement is essentially its statement of purpose. It serves as a guide for all of the company’s decision-making. Shareholders, leaders and employees are generally the target of the mission. It should help workers within the organization know what decisions and tasks best align with the mission of the company. Besides that, each of workers will know their responsibility and being commitment to their task. A mission statement offers insight into what company leader view as the primary purpose for being in business. Some companies have profit-motivated missions, while others make customers a focal point. Other firms use a mission to point out more altruistic intentions that ultimately lead to profits.
The Research paper on Statement of Purpose 42
As a small child I remember trying to make a pyramid of cards and failing repeatedly. What I had always been missing those days was the need to focus on creating a strong base rather than abruptly rushing on to reach the top. With my undergraduate study at an Indian Institute of Technology (IIT), the best technological institutes in India with inarguably the toughest selection ratio (~2%) in the ...
Mission and vision Statements are important to guide management’s thinking on strategic issues, especially during times of significant change. Besides that, it also want to help define performance standards and inspire employees to work more productively by providing focus and common goals. By using vision and mission, it will guide employee decision making and help establish a framework for ethical behavior.
The firm can use the vision and mission as a focal point for individuals to identify with the organization’s purpose and direction, and to deter those who cannot from participating further in the organization’s activities. The vision and mission also important to create closer linkages and better communication with customers, suppliers and alliance partners. It is also use to enlist external support and serve as a public relations tool.
2.2 VISION
The Estee Lauder Companies is to be the global leader in prestige beauty as well-diversified, brand-building powerhouse of unrivaled creativity and innovation. In my opinion, this vision statement should not be underestimated. This is because, today, the Estee Lauder is a highly successful company in beauty industry where their products were on international market in more than 70 countries. This proved by their emerging market in Americas, Middle East and Africa area, and also Asia area.
The Essay on Fisher Price Mission and Vision Statement
Fisher Price is a company that has all the characteristics of a great mission and vision statement. Their mission statement is, “We believe in the potential of children and in the importance of a supportive environment in which they can grow, learn, and get the best possible start in life. Our company supports today’s families with young children through our breadth of products and services that ...
Besides that, they are also widely diversified by brand, category, geography and channels of distribution. The company is specializing in manufacturing and marketing of skin care, makeup, fragrance and hair care product with 27 brands. For over 60 years, The Estée Lauder Companies has built an unrivaled portfolio of brands. Their products are sold in more than 150 countries and range from entry-level prestige to ultra-premium luxury. This shows that they had operate on global basis and become a global leader in prestige beauty.
2.3 MISSION
The Estee Lauder Company mission is “Bringing the Best to Everyone We Touch and Being the Best in Everything We Do”. In my opinion, this is not a mission. This is because, the Estee Lauder mission does not state their company product. Suppose, the misssion should describe about their business. So, I make a new mission for the Estee Lauder Company which is to provide customers with innovative cosmetic products of the highest quality and deliver outstanding service by treating each individual as themselves would like to be treated. Estee Lauder Companies also want to create an environment that fosters personal growth and well-being which pursue profit, but never at the expense of quality, service or reputation.
They also want to enhance their reputation of image, style and prestige by eliminate waste and reduce inefficiencies in order to provide maximum value to their customers. ELC also wants to build partnerships with their suppliers, retailers and colleagues based on fairness and trust and be responsible citizens in every community they serve.
2.4 THE ANALYSIS OF MISSION STATEMENT COMPONENTS
2.4.1 PHILOSOPHY
Estée Lauder built her cosmetics empire on the belief that every woman can be beautiful. This philosophy is just as relevant today as it is an empowering and universal truth that builds upon the brand’s heritage and values and acknowledges that beauty comes in many different forms. The Estee Lauder Companies want their customer being comfortable in their own skin, knowing what is important to them and makes them happy. This is because, when the consumer feels good about their self, there is no limit to what they can do.
Since Estée Lauder founded the Estee Lauder Company in 1946 with four cosmetics products and unlimited dreams, the company has grown virtually every year on the key principles she established which are diversity, innovative, entrepreneurship, self-esteem, and ethics.
The Business plan on Estee Lauder Company Strategic Analysis
30 June 2012 Estee Lauder2 Table of Contents Introduction……………Estee Lauder’s HistoEstee Lauder’s Product Mix……………………………………………………………………………6 Competitors…………… ...
* DIVERSITY
Estee Lauder Company is company that encourages diversity of thought, personal characteristics, cultural background, professional experience, role, tenure, and geographic location in their policies, practices and day-to-day interactions. By doing so, they support an inclusive culture that leads to creativity, innovation, and competitive advantage. They strive to be an employer of choice where the attraction, development and retention of top talent around the world reflect the diversity of the global consumer. They also provide all employees and applicants for employment with equal employment opportunities without regard to race, color, religion, gender, age, national origin, sexual orientation, gender identity, disability, genetic information or veteran status or any other characteristic protected by law.
* CREATIVITY AND INNOVATIVE
At The Estée Lauder Companies, they believe that creativity and innovation drive their success. The next big idea can come from anyone, no matter where they sit in the organization. To support a culture of innovation, ELC offers programs, workshops, and digital platforms that give employees the tools needed for breakthrough thinking, idea sharing, and collaboration. Besides that, their passion for innovation and dedication to anticipating and creatively exceeding consumer expectations drives their global research and development (R&D) efforts. Their scientists work at the frontiers of skin biology, using the latest technological advancements to develop cosmetics that provide superior aesthetics, high performance and great pleasure to their millions of consumers around the world.
* ENTREPRENEURSHIP
The entrepreneurial talents of their employees are also one of their key strengths. They enable them to design products and services that capture the imagination of their consumers and take the industry in new directions. They will offer a wide range of development programs based on their employee level in the organization and their role in a brand, region or function. They believe that by developing the talent of new employees with programs and experiences designed to give in-depth learning and build skills will help them to achieve long-term success. This is because the Estee Lauder Companies’ heritage is built on continuous learning and fostering the creativity of their employees.
The Term Paper on General Nutrition Company Products Gnc
Company Background General Nutrition Companies Inc. , was founded 65 years ago in Pittsburgh, Pennsylvania on the premise that Americans wanted to maintain control over their health. David Shakir ian founded the company. In 1935 he launched a dream of his by establishing a little health food store in Pittsburgh, Pennsylvania. He called it Lackzoom. The products that were offered at his store ...
* SELF ESTEEM
The promotion of self esteem is integral to their approach, not only in their advertising and marketing activities but also in the philanthropic work they do in breast cancer care and with the HIV/AIDS community. For example, the self esteem values had been promoted in advertising and marketing activities when one of the Estee Lauder brands which is Bobbi Brown had compelling “Pretty Powerful” campaign based on the beauty of real women by not use professional models. The Bobbi Brown’s cosmetics empower women to look and feel like themselves, only prettier and more confident.
* ETHICS
Estee Lauder Companies are dedicated to working together with uncompromising ethics and integrity. They encourage their people to create, to innovate, to be entrepreneurs and to strive for the best, always. They also expect everyone at ELC to observe the highest standards of professional and personal conduct. They do not tolerate any bribery or corruption. Their expectations and their key policies are summarized in their Code of Conduct for employees, and their Supplier Code of Conduct. All new employees will receive a copy of the Code of Conduct and ELC will provide training to help them understand its requirements. Employees have access to Estee Lauder online training module, available via their global intranet, which uses real-life scenarios to help the employees understand how to apply the Code.
2.4.2 SELF – CONCEPT
Estee Lauder Companies using “High-Touch” service as a secret ingredient that truly distinguishes them by allowing them to deliver true fit and value to their consumers. In the digital age, High-Touch has gone high-tech, moving beyond the selling floor to the computer screen, as consumers’ shopping habits have evolved. They are connecting with their consumers online through e-commerce, social networking and interactive tools.
On the Estée Lauder brand’s website, visitors can upload a photo and use a “makeup widget” to experiment with the latest colors and get a virtual makeover, on their time and in the comfort of their home. With High-Touch, they create strong emotional bonds with consumers through their aspirational, prestige brands and the expert advice of their beauty consultants. It’s a powerful combination. The unmatched quality of Estee Lauder Company products, combined with outstanding personalized service, creates a total package of priceless value that goes far beyond product, price and science. It is the total experience that sets Estee Lauder Company brands apart.
The Essay on Product and Service
A product is anything that meets the requirements of a particular market, this term involves a lot of dimensions because it is essential to recognize what contributes to the “total product offer”1 in order to be successful in the market or simple to keep our customers satisfy. A service is an intangible economic activity, not stored and does not result in ownership; Services nowadays are becoming ...
2.4.3 CONCERN FOR STAKEHOLDAR INTEREST
Estee Lauder has dynamic long term strategy to strength leadership in prestige beauty. Estee Lauder tries to meet the needs of product managers, customers and retail outlets with its web strategy. Like most manufacturers and marketers of brand name products, Estee Lauder Cos. has to please a lot of different and sometimes conflicting interests. There are product managers who want to extend and protect Lauder’s valuable fragrance and cosmetic brands, such as Clinique, Bobbi Brown, Aramis and its flagship Estee Lauder name. And, there are the customers who buy them, typically not through Estee Lauder but through branded retail chains.
Estee Lauder had implement three-tier web strategy with the creation of Gloss.com, an independent fragrance and cosmetic web venture that is owned in partnership by Estee Lauder and two of its prime rivals-Chanel and Clarins as a solution to the conflict interests. To satisfy the retailers with whom Estee Lauder has strong merchandising relationships, the company this fall will also implement a “retail syndication” program that will provide branded content for the web sites of its major retail chain customers. The syndication program efficiently re-purposes the content Estee has developed for its own sites and retains the company’s control over brand positioning, while at the same time enhancing the performance and profitability of the web sites of its retail partners.
2.4.4 CUSTOMERS
Most of the Estee Lauder Company consumers are the high income customers which favor the highest quality products, enduring brands and great services which exactly what they offers. They are committed to delivering uncompromising quality and unparalleled service to all of their consumers. Consumer communication and awareness is critically important to them as a consumer-inspired company. Estée Lauder is truly dedicated to women everywhere and continues to be one of the most influential brands in the world with best selling products loved by millions of women in 140 countries around the world.
The Essay on Lanc Ome Chanel Products Brand
... each other. Manufacturer Brand % 1996 % 1997 Estee Lauder Pleasures 5. 8 5. 9 Estee Lauder Tommy Girl n / a 5. 7 Estee Lauder Beautiful 5. 1 ... is to offer customers personalized advice and service. The division markets useful products that integrate the latest innovations, and whose ... inventory and eventually became L'Oreal USA in 2000. The company decided to go public in 1963 unlike its opposition ...
2.4.5 PRODUCTS AND SERVICES
Estée Lauder Companies, Inc. is a manufacturer and marketer of prestige skincare, makeup, fragrance and hair care products with has a total of 27 brands. The Estee Lauder’s brand defines exceptional, high touch service in the beauty industry while offering high performance, innovative and stylish and timeless products in skincare, make-up and fragrance. Their consumers favor the highest quality products, enduring brands and great service which exactly what the Estée Lauder Companies offers.
As can seen when Estée Lauder Beauty Advisors have a commitment to service excellence where a passion for products such as their best selling Advanced Night Repair or Double Wear Foundation, their latest Pure Color trend looks or one of their seductive fragrances such as Sensuous Nude. But above all, they all share the belief that every day they live a purpose that can change the way a woman feels about herself.
2.4.6 MARKETS
Estee Lauder Company operates on a global basis, with the majority of their net sales generated outside the United States. The Americas is their largest in terms of sales. Latin America, while still small, is one of their fastest growing sub-regions. Europe, the Middle East and Africa area contributes the highest percentage of Estee Lauder Company operating income and includes their Travel Retail business. They have also posted solid gains in well-established European countries, as well as in emerging markets, including Russia, the Middle East and Eastern Europe.
Besides that, greater China is driving significant sales gains in this Asia/Pacific area. China has become their second largest market in the region after Japan, fueled by a rapidly growing middle class that desires luxury, aspirational brands. Sales in this region are heavily skewed toward skin care which is their largest product category.
2.4.7 TECHNOLOGY
Provide customers with innovative cosmetic products made with the most sophisticated technology and the highest standards of quality. They are committed to delivering uncompromising quality and unparalleled service to all of their consumers. The Estee Lauder Company has using nanotechnology in producing their product. Their product is being formulated using nano particles, which there were defining as ingredients intentionally processed to be nano sized. There have a small number of products that do contain a limited number of these nano sized ingredients. Besides that, Estee Lauder Company also have confidence in the safety of all their ingredients and formulas. This can be seen in their product processes as they are using green chemistry principles, designing sustainable packaging and protecting biodiversity when sourcing natural ingredients.
2.4.8 CONCERN FOR SURVIVAL, GROWTH, AND PROFITABILITY
The Estee Lauder concern for survival, growth, and profitability can be seen when they want enhances their reputation of image, style and prestige to pursue profit, but never at the expense of quality, service or reputation. They also want to create an environment that fosters personal growth and well being. They continue to learn from the best practices of their brands and employees to unite and strengthen their efforts across brands, regions and functions as they strive to be the best.
They are proud of the progress they have made to date and they recognize that they have opportunity for growth. Estee Lauder Company is committed to constantly improving their results. They are focused on strategically growing their business for the long term, while maintaining their Company’s prized culture and heritage. They strongly believe that growth is possible globally by their ongoing strategy to build a diversified business base that is Multi-National, Multi-Channel and Multi-Brand.
Through employee engagement, enablement and empowerment, LEAN is increasing operational efficiency, eliminating waste and promoting continuous improvement at facilities around the world. And these best practices are not just limited to the sites where they originated but they are shared across the Global Supply Chain. In this way they are able to maximize efficiencies, foster interdependence and share knowledge across their sites, making the Company more agile, competitive and ready to meet their consumers’ desires and retain their position as a leader in the global marketplace.
2.4.9 CORPORATE SOCIAL RESPONSIBILITIES
Lauder family’s determination to use the power of business for the greater good is reflected in the company’s concern for health and human services, the environment, education, the arts, and people in need. If concerns are raised on any issue of quality, health and safety, or human rights, they examine the [scientific] evidence and respond accordingly. They are committed to the elimination of all animal testing on all cosmetic products and ingredients worldwide. Besides that, the concern of public image is showed as Estee Lauder Company also had launch Breast Cancer Awareness Campaign (BCA) by Evely H. Lauder who co-created the “Pink Ribbon” with SELF magazine as a symbol of breast health. Since then, millions of people globally have heard the message about the importance of breast health and early detection can save lives.
2.4.10 CONCER FOR EMPLOYEES
The Estée Lauder Companies want to ommit to nurture their great human resource and foster a collaborative working environment that transcends geography as their concern for employees. They provides competitive benefit programs, worldwide, where in many cases exceed industry practice and deliver valuable coverage and protection to employees and their families. Their wide range of employee services, and Health and Welfare Programs are designed to help eligible employees make the best decisions for themselves, their family, and their lifestyle.
2.5 CONCLUSION
In conclusion, it is important for a firm to have their own vision and mission. A company can achieve their goal based on their vision and mission. Both of this make them more understanding the company goal. The employees can be more committed to their work as they understand and clear about the firm goal. By having clear and specific vision and misson, Estee Lauder will get many of benefits such as better in financial results, unanimity of purpose, resource allocation, establishment of culture, focus point for individuals, basis of assessment and control, establishment of work structure, andresolution of divergent views.
The vision and mission statement must be clear and easily for memorize. So the employee can easily memorized and understand what supposed to be achieve. Theoretically,if a company achieved its mission, the reason for the company ‘to be’ would or down no longer exist. Therefore, it is important for Estee Lauder Compant to carefully consider their vision and mission and thoughtfully craft it. An effective mission statement will get an anticipates and identifies customer needs, provides product or service to satisfy needs and also can identifies the utility of firm’s product to its customers.
References
1. Vision and mission of Estee Lauder Companies. Retrieved from http://www.elcompanies.com.my
2. Corporate responsibility. Retrieved from http://www.elcompanies.com.my
3. Defining your organizations purpose: The importance of Vision, Mission and Values. Retrieved from http://knowledgenet.carmichaelcentre.ie/articles/defining-your-organisations-purpose-importance-vision-mission-and-values
4. Estee Lauder, an Executive Summary. Retrieved from http://www.freeonlineresearchpapers.com/estee-lauder-executive-summary
5. Fred R. David (2013).
Strategic Management: Concepts and Cases (14th ed.).
England: Pearson Education
