...Criteria of a Good Mission Statement Changing the mission or creating an organization’s first mission statement is a process of gathering ideas and suggestions for the mission and honing them into a short, sharply focused phrase that meets specific criteria. An effective mission statement clearly defines who the customer is and what services and products the business intends to provide. It also serves as a guide for day-to-day operations and as the foundation for future decision-making. The following are criteria for a good mission statement: The Mission Statement is Focuses on Satisfying Customer Needs A mission statement should focused on satisfying customer needs rather than being focused on the product. Products and technologies eventually become outdated, but basic market needs may last forever. A market-oriented mission statement defines the business in terms of satisfying basic customer needs. For examples refer to the following “Market-Oriented Business Definitions” table. (Kotler p.49) The Mission Statement Tells “Who” Our Customers are. (Thompson Strickland, p.30) Who is being satisfied? A company should define the type of customers it wishes to serve. Which customer groups it is targeting. Customer groups are relevant because they indicate the market to be served, the geographic domain to be covered, and the types of buyers the firm is going after. The Mission Statement Explains “What” Customer Needs Our Company is Trying to Satisfy. What customer needs is the...
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...WHAT IS BRANDING 7-8 WHY BRANDING IS SO IN 9-12 PRIMAL CODE 13-20 FIVE DICIPLINE 21-27 INNOVATION AND RENOVATION 28-30 REFERENCES 31 INTRODUCTION Talking about branding is like talking about leadership. There are coaches and courses which purport to "teach" leadership, but as we all sense - that's why we want so badly to learn it - leadership comes from character and inner qualities. It's an extension of beliefs and values the person holds and then acts out in their life, an integral part of their personality. You can't pick up "character" in a seminar. It comes from years of reading, working on yourself, exposure to great...
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...bottom line’ such that decision making takes into account not only profits but also people and the planet along with social and environmental risks and obligations. In this sense, corporate reporting takes into account the environmental and social impact of the firms operations. But a culture of sustainability is more than just the corporate report and the face value of the initiative. It is one in which all the members of the organization share the spirit and the passion for the cause of balancing profitability with environmental accountability and social well being. Such a culture constantly strives to improve the lives of stakeholders while successfully carrying out its operations over the long term. WHAT DIFFERENTIATES SUSTAINABILITY FROM OTHER INITIATIVES? Most organizational change initiatives are largely confined to the boundaries of the organization. In contrast, sustainability is part of a broader societal agenda that extends beyond the organization. The motivation for a sustainability change initiative can often be driven by external forces and, at times, the benefits may not appear to directly enhance value. In cases where the change is motivated internally, the change may be initiated...
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...Leaving the Hive When John Replogle (MBA '93) became CEO of Burt's Bees in 2006, sales had been growing by over 30% per year over the previous four years across multiple, increasingly diversified channels of distribution in the United States and abroad. The company's brand leadership in the natural personal care category—itself growing by 15% per year over the same period—was secure, despite growing competition. Replogle's mantra was that all this momentum gave Burt's Bees a unique opportunity to bring natural personal care to the forefront of mainstream personal care in the coming years, a revolution that would be consistent with the original vision of Burt's Bees founder Roxanne Quimby, who thought that the natural and earth-friendly products would ultimately reach "everyone, everywhere." Replogle liked to provocatively claim that Burt's Bees wanted to become the "Starbucks of personal care," in reference to the niche coffee" brand that won over its category by imposing superior product expectations and a renewed sense of meaning in consumption. Achieving this ambitious goal, however, would require many changes for the Maine-born brand that carried an anti-commercial image of friendly quirkiness. Already, rapid growth had propelled Burt's products into mainstream outlets such as CVS and Walgreen pharmacies. Under Replogle's leadership, the product range would be changing rapidly as well. It would still star the brand's classics, including beeswax lip balm and lip shimmers...
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...Marketing Management, 14e (Kotler/Keller) Chapter 1 Defining Marketing for the 21st Century 1) Which of the following statements about marketing is true? A) It is of little importance when products are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firm's intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit organizations. Answer: B Page Ref: 4 Objective: 1 Difficulty: Easy 2) ________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. A) Marketing management B) Knowledge management C) Operations management D) Strategic management E) Distribution management Answer: A Page Ref: 5 Objective: 2 Difficulty: Easy 3) Identify the correct statement about marketing management. A) It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services. B) It focuses mostly on monitoring the profitability of a company's products and services. C) It focuses solely on attaining an organization's sales goals in an efficient manner. D) It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy. E) It occurs when at least...
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...http://www.nckvietnam.com Understanding the Global Spa Industry http://www.nckvietnam.com This page intentionally left blank http://www.nckvietnam.com Understanding the Global Spa Industry: Spa Management Marc Cohen and Gerard Bodeker AMSTERDAM • BOSTON • HEIDELBERG • LONDON • NEWYORK • OXFORD • PARIS • SAN DIEGO • SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Butterworth-Heinemann is an imprint of Elsevier http://www.nckvietnam.com Butterworth-Heinemann is an imprint of Elsevier Linacre House, Jordan Hill, Oxford OX2 8DP, UK 30 Corporate Drive, Suite 400, Burlington, MA01803, USA First edition 2008 Copyright © 2008 Elsevier Ltd. All rights reserved No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone ( 44) (0) 1865 843830; fax ( 44) (0) 1865 853333; email: permissions@elsevier.com. Alternatively you can submit your request online by visiting the Elsevier web site at http:/ /elsevier.com/locate/permissions, and selecting Obtaining permission to use Elsevier material Notice No responsibility is assumed by the publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any...
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...Learning with Cases INTRODUCTION The case study method of teaching used in management education is quite different from most of the methods of teaching used at the school and undergraduate course levels. Unlike traditional lecture-based teaching where student participation in the classroom is minimal, the case method is an active learning method, which requires participation and involvement from the student in the classroom. For students who have been exposed only to the traditional teaching methods, this calls for a major change in their approach to learning. This introduction is intended to provide students with some basic information about the case method, and guidelines about what they must do to gain the maximum benefit from the method. We begin by taking a brief look at what case studies are, and how they are used in the classroom. Then we discuss what the student needs to do to prepare for a class, and what she can expect during the case discussion. We also explain how student performance is evaluated in a case study based course. Finally, we describe the benefits a student of management can expect to gain through the use of the case method. WHAT IS A CASE STUDY? There is no universally accepted definition for a case study, and the case method means different things to different people. Consequently, all case studies are not structured similarly, and variations abound in terms of style, structure and approach. Case material ranges from small caselets (a few paragraphs...
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...Does Beauty Have a Cost? The Ecological Footprint of the Cosmetics Industry Alexandra Noelle Penny Brown University 2008 Environmental Studies Senior Thesis May 8, 2008 1 Acknowledgements To Caroline Karp, my thesis advisor and primary reader, for her boundless suggestions, ideas, encouragement, and support as I attempted to creatively apply a structured environmental policy analysis to a new problem. To Catherine Goodall, Amit Sheth, and ShaSha at Environmental Packaging International for introducing me to the subject of packaging, guiding me carefully through various analytical techniques, and sparking my interest in redesigning consumerism. To Dave Murray and Joe Orchardo for their assistance running the spectrometer analyses in the Environmental Chemistry Lab as well as their vast patience and willingness to answer my many questions. To Daniela Quilliam and Bill Dundulis at the Rhode Island Department of Health for their honesty in answering my pointed questions and insights into government regulations when funding is a challenge. To my sister, Elena, for her endless patience and support, and especially for her late-night company in the Science Library Friedman Study Center. To my father, Luther, for advising me to work on my thesis early in the year, advice I listened to carefully, agreed with, but never quite followed through. To my mother, Joanne, for never doubting my ability to achieve goals that are seemingly out of reach...
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...LVMH: King of the Luxury Jungle SEPTEMBER 2009 Profit from temporary W&S woes to bag the stock at discount prices LVMH is the strongest player in the luxury goods industry, a giant in an industry where fixed costs make scale paramount; the only "two-legged" balanced player, leading with mega-brands in both Leather Goods and Wines & Spirits; enjoying stable group EBIT margins as a consequence Champagne consumer demand weakness, de-stocking and oversupply in 2010 are well understood; W&S concerns have depressed the stock close to 20-year trough multiples and in the same range of smaller and more volatile hard luxury players and other peers; an opportunity in our view On top of LVMH's unrivaled industry position, markets seem to under-appreciate cost-saving opportunities, brand-portfolio rationalization, higher FCF from lower W&S inventory investment, above-average mega-brands' results or support from first-mover EM inroads In a medium-term growth environment, LVMH has the chance to be a key consolidator in the luxury goods industry: a mega-merger with CFR would be a strategic master stroke, placing it ahead of any M&A counter move by competitors SEE DISCLOSURE APPENDIX OF THIS REPORT FOR IMPORTANT DISCLOSURES AND ANALYST CERTIFICATIONS LVMH: KING OF THE LUXURY JUNGLE 1 Portfolio Manager's Summary We have few doubts about the opportunity of investing in LVMH for the medium to long term. We expect "winners will continue to win" in the luxury industry...
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