BUS 490 Business Policy
Estee Lauder is a New York based company who has been successful for of over 60 years, mainly because of its vision and mission. Estee Lauder’s vision is to bring about an extraordinary experience they call High-Touch. High-Touch is bringing the best to everything you do. Its mission is to stay committed to the highest standards of uncompromised ethics and integrity, by working together with all employees and the board of directors. Their mission and objectives are what has made the company into a billion dollar manufacturer and marketer in the cosmetics industry. Being committed to working together with uncompromising ethics and integrity, Estee Lauder strives to always: •Provide customers with innovative cosmetic products of the highest quality. •Deliver outstanding service by treating each individual as we ourselves would like to be treated. •Create an environment that fosters personal growth and well being. •Build partnerships with our suppliers, retailers and colleagues based on fairness and trust. •Enhance our reputation of image, style and prestige.
•Pursue profit, but never at the expense of quality, service or reputation. •Eliminate waste and reduce inefficiencies in order to provide maximum value to our customers. •Be responsible citizens in every community we serve.
With its vision and mission, I think Estee Lauder will continue being a leader in the cosmetics industry. But I think they can increase their net sales in fragrance by investing more into research and development. Some of their decreases in sales are a result of the economy. During this time, more promotional items should be offered to bring in the customers.
The Competitive Profile Matrix (CPM) identifies a firm’s major competitors and its particular strengths and weaknesses in relation to a sample firm’s strategic position. Shown in table 1 is the CPM. Table...