Key Milestones Of H & M

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D. H&M Key Milestones

 1947: Hennes and Mauritz AB opened its very first store in Vastera in Sweden. Back then, the store was called Hennes which means Her in Swedish and was selling exclusively women wear.

 1964: after its success in its home country, H&M started its process of going international by opening its first store outside of Sweden in Norway.

 1968: Hennes bought an equipment store called Mauritz Widforss and merged names which resulted to what we know today as Hennes and Mauritz (H&M)

 1974: The company was listed in the Stockholm stock exchange.

 1976: In the same idea of going international, Hennes and Mauritz AB opened its first store outside of the Scandinavian region, precisely in the United Kingdom.

 1977:
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E. H&M’ s Culture and Mission Statement

As Peter Drucker who is considered as the father of modern management and the source of many contemporary thinkings on business once said “ asking what is our business is the same as asking what is our mission”. Here Drucker shows the tight connection that exist between an organization business orientation and its mission because this latter is considered as the early stage of any organization strategic management
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This is also its business orientation. The culture clarifies the models of hypothesis and behavioral statements by humans for their environment whether it is a state, a local community, a market or an industry. Present and future employees recruitment within H&M is done on the basis of local culture of the country it is operating. This not only helps in creating a strong organizational culture in H&M but also helps in efficient management and inspires employees for effective teamwork and provides opportunities to them for growth. Hennes and Mauritz AB is strong advocate of local customs. The company prides itself in respecting local rules, regulations and culture which gives the working place a more warm and pleasant atmosphere. The culture within this company is mostly task oriented. The recruitment of its employees is done most of time locally so that these latter can fit perfectly within the respective society organizational culture. One of H&M ‘s slogans states think globally and act locally is the reason why the recruitment is performed locally so that these latter can fit perfectly within the particular society organizational culture. As in any respectful organization, communication within the company also plays a major role(Varner & Beamer, 2010). To make sure that this condition is fulfilled, H&M Will makes sure that its employees receive business intercultural communication
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