Tag: Vision Statement

An Analysis of Nordstrom and Starbuck’s Mission Statements as a Guide to Servant Leadership

The spread, permeation, and application of the servant leadership model as a philosophy that is now widely acclaimed remains a baffling contemporary development. From its humble beginnings as a concept fashioned by Robert K. Green, it now boasts a considerable following among leading corporations and Fortune 500 companies. This sudden paradigm shift in matters leadership was a breath of fresh air and represented a positive change in how individuals holding the reins of power promoted a particular organizational behavior. It emphasizes leaders expressing natural feelings to serve others, instead of being served first and avoids putting the acquisition of material benefits as a priority (Hammer, 2012, p. 67). In such a scenario, the leader focuses solely on ensuring that the needs of those they are serving are always met and will still be ready to go above and beyond what is required of them to make sure that consumers are satisfied. The goal is to better the lives of those being served by ensuring that they become autonomous, freer and, in other cases, healthier than they were. To actualize the servant leadership model, a majority of leading corporations have taken to fashioning this new modus operandi into their mission statements, to make it easier for both their employees and clientele to comprehend their motives. The ultimate goal is to make sure that people from the community where they operate morph into a better version of their current selves with the company playing a leading role. The purpose of this research paper is therefore to provide an in-depth analysis of Nordstrom and Starbuck’s mission statements and how they are utilized as a guide towards servant leadership.

Nordstrom and Starbucks are similar in the model of leadership adopted and how it is then woven around their mission statements. Firstly, Nordstrom has a rich history going back to the late 19th century when its founder, John C. Nordstrom landed in New York from Sweden with nothing more than a dream and five dollars. After traversing the Midwest in search of fortune, he was finally rewarded for his boldness and had earned $13,000. It was at this point that he decided to invest this money in business by partnering with an associate to start a shoe store. From its humble beginnings in 1901, the conglomerate now boasts of having more than 260 stores all across the United States with other expansions slated to take place shortly (“AMA-TV: Starbucks, Marketing Campaigns, and Way5 Innovation,” n.d.). The store’s mission statement spells out its intention of providing the highest possible level of service and quality while making certain that customers get value for their money. At the center of their vision statement is their commitment to serving their clients in the best way possible while establishing lifelong relationships. On the other hand, Starbuck’s success has been widely linked to Howard Schultz and his exceptional leadership style. In reality, he is responsible for the heights reached by the company and is now the largest coffee retailer globally. Leadership here involves placing employees at the center of operations and being courteous enough to remunerate them handsomely for the efforts made when carrying out their duties. Its mission statement emphasizes inspiring those that they serve while also nurturing the human spirit.

Both Nordstrom and Starbucks are similar in their approach to servant leadership, evident from their mission statements. Nordstrom seeks to provide customer-centered services, which is an indication that the company aspires to serve those it comes into contact with, rather than acting as overarching leaders. The store seeks to achieve its set objectives by making incremental improvements in the services provided to customers, making new experiences even better than previous ones. One striking feature of the servant leadership style employed here is that it has the ability to influence organizational culture. Employees aspire to leave all clients satisfied with the services provided by striving to engage them in face to face interactions which are more personal. It often begins with the speed and time taken to serve clients. By working swiftly, clients get a feel of urgency and the particular spot they occupy in the store’s activities. Their services are also all-inclusive, dealing with issues of convenience and how innovation can be harnessed in a better way that would inspire loyalty, but most importantly, satisfied clients (“Demystifying Servant Leadership,” 2010). On the other hand, Starbucks’ affirmative mission statement is an indicator of the achievements it seeks to bag in the near future.  Employee activities are guided by this mission while also serving it to display the benefits that would accrue for anyone who would choose to use their services. The organizational culture that this mission statement creates is that of motivated employees who seek to become leaders in purveying coffee while still serving their clients.

Nordstrom’s commitment to proving exceptional customer service, as stated in their mission statement, is an indication of dedication to servant leadership. The store explicitly applies the inverted pyramid approach when dealing with its employees and in managing its internal affairs. The store functions primarily by combining customer service with its unique version of servant leadership meant to benefit all those who would take the time to seek their services. By so doing the enterprise inadvertently creates an environment that is favorable for employees to carry out their mandate. Starbucks also adheres to its mission statement by underscoring the importance of their clients and offering an environment that lays emphasis on employee openness (“Servant Leadership As A Teachable Ethical Concept,” 2012). The company’s leadership begins by treating the employees well. It is a widely known fact that customers gauge how well they will be handled by observing the manner in which employees are treated. These values result in relationship-derive approaches, inclusion, communication and openness, all which are central principles of servant leadership.

In conclusion, it is safe to say that both companies are living out the principles expressed explicitly in their mission statements by espousing all tenets of servant leadership. These organizations focus on nurturing their employees while improving their collective performance for the benefit of society, efforts aimed at posterity.

Mission , Vision , Goals , Strategy In An Organization

Mission

It can be defined as a written pronouncement of a firm’s core purpose that remains unaltered over time. It explains how a firm plans on achieving its goals. The message in the mission statement is meant for purposes of decision makingby stakeholders such as employees, customers, and investors. Companies can refer to it as corporate purpose, corporate mission, and company mission(Cummings & Worley, 2014). The mission statement should capture what the firm does, the clients that are served by the firm, and the benefits that are provided by the firm. It serves to isolate what are necessary, the markets to be served, and the intended direction to the entire firm.

Vision

The vision of a firm can be described as the hope and plans that the firm has for the future. The vision statement acts as a motivational piece that drives staffs and also acts to demonstrate a firm’s goals to the stakeholders. It is a statement that does not describe the present state of the firm but on how successful a firm wants to become and be viewed. The vision statement should be optimistic, clear, and realistic.

Goals

Goals can be defined as the purpose, objectives, and mission of a business that the administration has established and communicated to their staffs. The goal focuses on its long range intentions for operation and their overall business philosophy that can provide useful guidance for staffs seeking to gratify their managers. The goals guide the efforts of the staffs, justify the activities and existence of the firm, define the performance standard, and functions as behavior incentives.

Strategy

Strategy can be defined as the actions that a firm intends to take so as to achieve their long-term objectives.The actions that are taken for the firm so as to succeed are what make up the strategic plan. This takes up to a year for its completion and requires that the entire firm levels to be involved. Strategy involves comparing the present state of the firm and what is targeted, defining the differences and taking necessary steps towards achieving the stated change.

Analysis of an Organizational Vision Statement – Assignment Instructions

Research visions from organizations in industries other than your own. Find a vision statement that provides an engaging picture for the future of that organization and is detailed enough that external stakeholders can relate to it in a meaningful way. In a paper of 750-1,000 words, address the following:

  • Describe the company and its vison statement.
  • Discuss the attributes that make the vision meaningful.
  • Explain how the vision statement is appropriate for the organization and why the vision statement is appealing to stakeholders on both a cognitive and emotional level.
  • Evaluate whether or not the vision statement encourages organizational change. Provide rationale and examples to support your assessment.
  • Compare and contrast this vision to that of a successful vision in your field, industry, or organization. How do the attributes for a vision in your field or industry differ from those in other fields or industries?

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. See attached rubric

View a sample solution for this assignment Analysis of an Organization Vision Statement -Microsoft Corporation  or order an analysis of a organizational vision statement of an organization of your choice at an affordable price. 

MT460 – Unit 2: The Importance of Mission and Vision Statements

MT460 Management Policy and Strategy

Unit 2: The Importance of Mission and Vision Statements

Case Study Analysis Paper: The Mission Statement

Company Mission Statement

Company Name: Nokia Corporation

Topic of the Week:Mission Analysis of Nokia

Synopsis of the Situation

Nokia Corporation is headquartered in Finland as a global telecommunications equipment manufacturer. The company operated a luxury brand of phone brand called Vertu founded by Frank Nuovo in the late 1990s pioneering the luxury mobile phone market. Impressive growth has been experienced in almost 70 countries and sell of hundreds of thousands of phones in the eight years following its launch(Viardot, 2004).

The study is aimed at conducting a SWOT analysis on the companies’ mission statement and creating a case study analysis focusing upon the company’s mission statement. Having been a pioneer of the luxury mobile phone and the new mobile strategy by Stephen Elop to adopt Microsoft’s new operating system, the company is at a good angle to analyze(Datamonitor (Firm), 2000).

Alternative Solutions

  1. Implement more innovative features to their devices.
  2. Employee strategies that endorse quality after sales service.
  3. Promotions targeted at the lower class of the society.

Selected Solution to the Problem

            Implementing more innovative features to their devices is the best solution for the problem at hand. Delivering great mobile products that sense the world will enable execution of this solution. By investing strongly in products and experiences that make devices such as Lumia smartphones stand out and available to customers.

The strategy can be executed by making changes in Nokia Corporation starting with its management team. Tapping into the strong leadership bench at the company will enable great ideas in improving the features of the company. Focusing on the products and services valued by the customers while continuing to invest in the innovation will counter the production of new features by rival companies.

Implementation

Implementation of Nokia’s business which covers Nokia services and devices has two major priorities including products and solutions will play a major role. Products entails the business emphasized on maintainingand increasing sale advantage while solutions entails business delivers mobile solutions emphasizing on innovation and unified UX.

When products and solutions are brought to be, the company will benefit from both local and worldwide customers. Enhancing customer awareness by creating more online ads is one way of achieving this.

Recommendations

Nokia Corporation has many good points and has also some good strategies, despite this, one of the recommendation is that the company should come up with something unique to its own companies so that it wouldn’t be so easily rivaled by other companies easily. A suggestion is that it come up with its’ own software that’s only unique to Nokia which is not used by other companies. Also, more user-friendly and customer satisfactory phone models will help.

Conclusion

Nokia is a successful and big company that lasted and evolved from a small company which was a paper mill in 1865, to a big company that is dealing with a lot of electric gadgets used by many now(Steinbock, 2001). Through the decades, the company has improved and lives up till today and still improving.The company is big and holds quite a fair bit amount of shares but there is still a room improvement as rivaling companies emerge the industry. The company has big aims and flexible strategies for the past, present and future.

 

Analysis of Mission and Vision Statements and the Company’s Strategic Direction – Best Buy

Part 1

Best Buy is one of the best performing consumer electronics retailers in the United States. The company was founded in 1966 by Gary Smoliak and Richard Schulze. Apart from the United States, Best Buy also has its branches in Mexico and Canada. Currently, Best Buy has more than 1,800 stores with majority of them being Mobile stores. Best Buy also offers technical support service under the Greek Squad brand (Bailey, 2015). The company uses one statement to specify its mission and vision. In its mission statement, Best Buy declares to its employees and investors that, “Our formula is simple: we’re a growth company focused on better solving the unmet needs of our customers- and we rely on our employee to solve those puzzles. Thanks for stopping (Best Buy).” Based on this mission and/or vision statement, Best Buy strives to formulate objectives and strategies that will enable it to meet its declaration to employees and stakeholders.

Although Best Buy has a well defined mission and/or vision statement, it is still facing various challenges that must be met in order to assist the company move forward. Best Buy has a very simple business objective. As stated in bestbuy.com, Best Buy’s objective is to assess the unmet needs of customers and then identify the best ways through which such needs can be met in order to assist the company to grow. Much of Best Buy’s success is associated with this objective as well as its unique business approach that keeps it strong even in times of economic uncertainty. Best Buy is a company that is able to grow even during economic crisis unlike many companies which choose to release workers during tough times. However, despite the high level of success that Best Buy reaps from its business objective, the company still faces challenges particularly in the midst of strong rivals such as Samsung (Payne, 2015).

One of the challenges that are being faced by Best Buy is limited spending on electronic items, particularly by customers who are able to get substitute products from the company’s competitors. Another challenge that Best Buy is facing is that of conserving energy. According to Payne (2015), Best Buy’s electronics uses large amounts of energy, particularly with the company’s televisions that are always on. Best Buy has however established objectives in order to revitalize the company and ensure that the mission and the set objectives are realized. For example, Best Buy aspire increase its customer base by 15 percent over the next one year. The company plans to achieve this objective by producing highly differentiated electronic items that will keep its products distinct from those of its competitors. In its second objective, Best Buy is now struggling to reduce green house gas emissions by approximately 8 percent over the next two years. The company plans to achieve this goal by tracking energy usage through technological application. Best Buy believes that it will be able to overcome the above named challenges if t successfully meets the set objectives (Payne, 2015).

Best Buy’s mission statement and/or vision statement is aligned with its business objective (Payne, 2015). This relationship can clearly be seen when the company’s mission and/or vision statement and its business objective are listed concurrently. Best Buy’s mission and/or vision statement states that, “Our formula is simple: we’re a growth company focused on better solving the unmet needs of our customers- and we rely on our employee to solve those puzzles. Thanks for stopping.” Best Buy’s business objective is to assess the unmet needs of customers and then identify the best ways through which such needs can be met in order to assist the company to grow. Even though Best Buy’s mission and/or vision statement is aligned with the company’s objective, the objective fails to state how the company will involve employees in meeting the needs of customers. The company can modify its business objective to state, “Best Buy plans to use adequately trained employees to assess the unmet needs of customers and then identify the best ways through which such needs can be met in order to assist the company to grow.

Table 1: Characteristics of a mission statement

Salient characteristics of the mission statement

Elements of the mission statement that comport with the characteristic from the article

Comments, recommendations, or criticism of the company’s mission statement.

Broad in scope Best Buy’s mission statement meets this element Best Buy’s mission statement is generally good, but the company needs to separate its vision statement from the mission statement.
Finely balanced between specificity and generality Best Buy’s mission statement meets this element
Motivate readers to action Best Buy’s mission statement meets this element
Reconcile interests among diverse stakeholders Best Buy’s mission statement meets this element
Not excessively specific Best Buy’s mission statement meets this element
Generate range of feasible strategic alternatives Best Buy’s mission statement meets this element
Arouse positive feelings and emotions Best Buy’s mission statement meets this element
Generate the impression that firm is successful, has direction, and is worthy of time, support, and
investment
Best Buy’s mission statement meets this element
Basis for generating & screening strategic options Best Buy’s mission statement meets this element
Are dynamic in orientation Best Buy’s mission statement meets this element
Provide criteria for selecting strategies Best Buy’s mission statement meets this element
Reflect judgments re: future growth Best Buy’s mission statement meets this element

 

 

Part 2

Best Buy uses corporate level, business level, and functional level strategies to ensure that it fulfills its mission. According to Kotler (2000), a strategy is a plan that a company formulates to help it achieve its objectives. Corporate level strategies involve the entire organization, business level strategies involve business units or business activities within an organization, and functional level strategies focus on various departments in the company such as human resources and information technology (Kotler, 2000). Best Buy currently uses four different strategies to achieve its objectives and they include; Big-Box store strategy also called price matching strategy, customer-centric strategy, rapid store growth and expansion strategy, and ‘renew blue, ignite the possible’ strategy. Best Buy’s price matching strategy is a business level strategy because it involves specific activities that guide the company towards achievement of objectives. The company ensures that there is price conformity in all its chain stores and big-box stores. The stores have enough selling spaces that allow the company to stock as many electronic items as possible. Best Buys ensures that it provides its customers with diversified products, a factor that enables the company to generate more revenue. These products are always offered at the lowest prices to give customers an opportunity to purchase items that they can afford (Team, 2013).

Best Buy’s customer-centric strategy is a functional level strategy it focuses on specific departments in the company. This strategy is mainly concerned with effective human resource management to enable employees to provide good services to customers. Best Buy struggles to provide a good working environment for employees as a way of improving the quality of customer service offered in each and every store. The company is committed at treating as unique individuals with different needs to be met. For instance, Best Buy has installed car video and audio equipment in its store in order to solve unmet customer needs. This strategy enables Best Buy to compete favorably with its rivals in the electronics market (Team, 2013).

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