Estee Lauder Study Case
Estee Lauder
CASE STUDY ANALYSIS
STRATEGIC MANAGEMENT (MGT 658)
Prepared by:
ACKNOWLEDGMENT
Alhamdulillah, first of all we would like to thank ALLAH S.W.T as finally we were able to finish our assignments that have been given by lecturer to us. This task had been done with all afford by group members even though a little bit problem were happened among us while doing this assignment. Luckily all the problems can be settled down and we were able to adapt properly and wisely.
Besides that, big thank we address to our supervisor or our lovely lecturer for MGT 657/MGT 658 Mrs. Shaherah Binti Abdul Malik because without his guide our project cannot be done properly like this. He always give us supports and guide
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Without clear statements of vision and mission, a firm’s short term actions can be counterproductive to long-term interests. Vision and mission statement should be a subject to revision but is carefully prepared; they will require infrequent major changes. Organizations will usually re-examine the vision and mission statement annually.
Next, the SWOT framework is developed to acknowledge the strength, weakness, opportunities and threats that occur within or outside Estée Lauders’ companies. By identifying the opportunities and threats of Estée Lauder, the EFE matrix can be developed. Some of the factors that are to be taken into consideration will be economic, political, social, technological, competitive and geographic. The EFE matrix and Portal’s Five-Forces Model can help strategists evaluate the market industry, but these tools must be accompanied by good intuitive judgement. On the other hand, we also identify the strength and weaknesses of Estée Lauder Companies which will then develop into an internal factor evaluation matrix (IFE matrix). To internally evaluate the company, an assessment of cultural elements, managerial factors, and also financial ratios of the company is to be examined. The process of performing an internal audit represents an opportunity for employees and managers throughout the organization to participate in determining the future of the firm.
In the second step of strategic management process which is the strategic formulation
1. Mission and Vision Statement – Mission is a written declaration of the purpose of an organization and Vision is that business will accomplish in future years.
Without a Mission and Vision statement the company is missing key components to measure it’s long term success, are much need parameters to keep the company in line when things get chaotic. A
I might want to express my appreciation towards my chief Ms. Shaily Dabra for her kind co-operation and support which help me in culmination of this undertaking.
Student Answer: Most every company has a mission and vision statement, but some companies do poor jobs conveying the true intention or depth of these statements. The mission statement should state its purpose and drive its collective efforts. The vision statement should state its desired future and drive its strategic plan (MacLeod, L. (2016). According to these standard of a mission and vision statement most companies would be considered lacking. I am currently employed at GEODIS logistics. Our mission statement states, “We help our clients
An organizations existence is based on its mission statement. The mission statement of an organization identifies the people who it serves and states the standards of practice, ethics, and principles for which it believes in. An organization’s vision statement looks into the future and states goals the organization wishes to accomplish (Marquis & Huston, 2012). The mission and vision statement are important for driving the climate and culture of the organization.
Assume the role of Pierre Pirard, I would execute the supply chain re-engineering for the value it could bring. The turnkey strategy would greatly improve Elizabeth Arden’s performance on supply chain efficiency and effectiveness. The plan should include supplier consolidation to reduce COGS as well as an improvement on working capital. It also requires a re-design of the organization structure.
A vision is basically the target goal for the company’s future. After reading the Mystic Monk Case, I came to the conclusion that the vision for the company is to earn enough profit to be able to purchase a Ranch called Irma Lake. In the case study, Father Daniel Mary states his vision, “We beg your prayers, your friendship and your support that this vision, our vision may come to be that Mount Carmel may be refounded in Wyoming’s Rockies for the glory of God”. In this statement, the Irma Lake Ranch is located in what he refers to as the Wyoming Rockies. The mission statement essentially is what is happening in the company at that time
Estée Lauder also benefits from brand recognition and loyalty; however, this seventy-two year old company isn't only known for high-end, classic products anymore. They have a very successful track record of incorporating complimentary firms through merger and acquisitions. Consumers from each age category are being
A well written vision statement will give aspirations about how we feel and think about the future of the company. The message conveys a powerful statement that is frequently used in communicating the organizations vision and dream. It builds a frame of mind and helps to envision in the minds of others. The statement defines a conclusion of the company’s best achievements to inspire and challenge their people.
Organizing the direction of a business or corporation is essential because it can increase profitability and provide broad guidelines for how to accomplish the organization goals. This is where a mission statement becomes useful. A mission statement should be short, concise, and to the point. Employees should be able to remember it and make it part of their everyday work culture.
A company's vision is a "general statement of its intended direction that evokes emotional feelings in organization members." (Dessler, 2003). The mission statement determines the type of business it will be by setting the purpose for the company, and
A company’s mission statement specifies how the firm intends to compete and serve their customers (Hitt, Ireland, Hoskisson, 2013, p.18). The vision and mission provide the foundation for an organization’s strategies (Hitt et al., 2013, p. 18). The company’s objectives should be inspiring and relevant to all their stakeholders (p.18). Ford’s vision statement addresses the concerns of their stakeholders and their ability to enhance the firm’s
On the other hand, mission statement is the reason why a company exists and it’s a statement that declares the core purpose of a company. Mission statement usually will remain the same over time (Bratianu, 2007). The mission is different from a vision as it aims to create competitive advantage and also achieve the social goal of a company (Bratianu, 2007).
An External Factor Evaluation (EFE) allows strategies to summaries and evaluate economic, social, and cultural factor through the uses of a numerical rating. In our case we evaluated the EFE of Estee Lauder. By numerically scaling Estee Lauder’s opportunities and threats we analyzed the importance of the programs they have to offer. First assigning each factor a weight of importance
Vision and mission statements provide information about the organization. They appear in strategic and operational plans. How do you define vision and mission statements? How should they be developed and used?