In this article, I will discuss the world’s marketing giants best mission & vision statements along with some of their most effective strategic goals/objectives. I will point at their strong and weak points. This time an article is useful and enlightening thanks to the statistics available on the web regarding the world’s most profitable companies.
“We save people money so they can live better.”
The companies on the list were judged according to their annual revenues (their net incomes are fairly the same). I guess it is always important to search for the cream of the crop at any aspect of the business world. I will post some business plan outtakes to provide you with best mission/vision examples ever. These short sentences might give a clue to the young entrepreneurs who still hesitate to launch own business. I am not going to name them one by one with respect to their rankings. I will point only at those which came to the fore from the marketing aspect.
Year after year, “Wal-mart” is treading upon air. Whatever it sells, it does it every which way. The company is known as the world’s largest retail company. Despite it is represented only throughout the United States, the orders are accepted from any point of the world. All you need to do is to visit their official site and place whatever you want into the basket. It operates globally with the same speed and quality. However, the commissions for some countries are just too high, so most of its profit comes from the local stores. During the fiscal 2013, its U.S. segment accounted for approximately 59% of its net sales. Retail stores operate productively in various formats across the country. A typical “Wal-mart” store is a multi-brand shopping mall where you can find just everything: from retro clothing & shoes to the latest electronics & office equipment goods.
Mission: you can find it at the heading of this article. It reflects the advertising motto of the company, hence is the overall excellent performance of this retail monster. As we can see, “Wal-mart” focuses on the customers’ number one desire to save money while buying the products of the first need (foods & beverages can be also found at the shelves of its stores). So, the clue is that while getting a new toy for your child or a medicine to support your grandma’s vitality, you receive some money back. “Wal-mart” offers all of the goods at more affordable prices compared to many other similar stores. At the same time, the quality is the same.
Vision: “If we work together, we’ll lower the cost of living for everyone…we’ll give the world an opportunity to see what it’s like to save and have a better life.” Another extremely persuasive statement. People tend to believe that teamwork brings better results than a work all alone (“synergy effect” principle). The claim that “Wal-mart” staff works all together to do their best raises the level of credibility in the eyes of their customers as sure as death.
Some of the goals/objectives in support of the vision: “open-door policy” (situation in which the applicants at all levels, of different genders, nations, or social status are equal in terms of receiving a job offer), “sundown rule” (replying to the consumers’ questions or complaints immediately), “grassroots process” (sales floor and front lines trends, ideas, and advices applied to improve the performance), “servant leadership” (is about waiting on their employees hand and foot – do not confuse with slavery!), “Wal-Mart cheer” (company’s own initiative to cheer personnel up every morning), and so-called “10-foot rule” (special treatment of 10 feet customers J). After all, they hold all of the “3 basic beliefs & values” consisting of respect to each customer and employee, excellent service, and striving for even more. There is no doubt their marketing strategy is simply perfect. Keep these ideas in your mind for your own enterprise’s business plan.
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Perhaps, this North American oil & gas giant was replaced by its chief competitor, “Royal Dutch Shell” (Netherlands), because of its unlimited greediness. Still, the first one is more recognized across the world. The company operates internationally. The implementation of liquefied natural gas technology has enabled cost-effective commercialization of new gas supplies, which made the company more attractive for global oil & gas market.
Mission: “Exxon Mobil Corporation is committed to being the world’s premier petroleum and petrochemical company. To that end, we must continuously achieve superior financial and operating results while simultaneously adhering to high ethical standards.” Vice versa, this statement does not zero in on customers. It makes the company look tight as a drum, but nothing stops it from making a go of its main business. Hence, “Exxon’s” clients start to believe in the company’s might and services as strong as its co-founders and top managers.
Vision: «These (see above) unwavering expectations provide the foundation for our commitments to those with whom we interact.” This is the logical prolongation of the mission statement.
Goals: Seems like “EM” is a one-track mind. All they think about is money. That’s not true. They just focus more on the changing preferences of today’s environment and employee’s weak sides in order to coach them more effectively.
I would like to share the secrets of different industries’ business plans, so I will skip few other leaders including “BP.”
Ah, another good example. The company’s head offices are located in Netherlands and Switzerland respectively. No wonder the company’s financial wealth leaves no doubts. This “money warehouse” is directed on energy and commodities segment, highlighting such marketing concepts as logistics, trade, and distribution. P.S. In some cases, I will stress only one of the business plan’s introduction elements which reflect company’s essence the best.
Vision: “To become a fully integrated energy supplier along the entire value chain from production at the wellhead to power solutions.” Feels like “Vitol” fit the axe into the helve only with the help of its strong desire to be the best. It is the case when the organization places its vision on the first place without taking into account many other critical factors, but somehow evolves into a full-fledged organization.
TO BE CONTINUED…