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.
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.
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. 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.
The Estee Lauder Company mission is “Bringing the Best to...