Estee Lauder Company was founded by Estee Lauder and her husband Joseph Lauder in 1946. The company manufactures and distributes cosmetic products in the skin care, make up, fragrances and hair products. The company operates under several brand names such as Clinique, MAC, Aveda, Origins, Bobbi browns and also has global licenses for brands such as Tommy Hilfiger, Donna Karan (DNKY), Michael Kors, among others. Estee Lauder has about 29 brands with presence in over 140 countries. The leadership of the company is mostly by Estee Lauder’s family members. Estee Lauder has acquired some other businesses such as Smashbox Beauty Cosmetics and created partnerships with Aramis and designer fragrances and Tory Burch fragrances.
Vision and Mission analysis
Estee Lauder mission statement is “bringing the best to everyone we touch”. This mission statement is broad and does not get to the detail of what the business is about. A mission statement is not a broad as the vision and shows the purpose of the company and its goals (Coulter, 2013). In a business environment, a mission statement should include some key elements such as the focus on the customers, products, and commitment to what they offer. A mission statement states purposes and goals and provides focus for employees to make and implement strategic decisions. Along with these elements a mission statement should decide if the company will be customer-oriented or product-oriented. There are very few organizations that have managed to include all of these elements within their mission statement.
Communicating all of these elements is important to ensure that the company can inform stakeholders about its plans and goals. Employees must also understand and be unified in pursing these goals. Reach, customer focus, and product selection are the three main components a company’s statement should focus on. Estee Lauder has no vision statement. The above mission statement sounds more of a slogan for the company.
Proposed vision statement: To be the global leader in delivering the promise to keep our every customer forever young.
This proposed vision statement has a view of the future and also encompasses the global view such that Estee Lauder hopes to reach more people that it already does. The vision statement must have a future aspect and delivering the promise to the customer is a future aspect. Estee Lauder herself used to say that every woman can be beautiful and that she has the aim to make every person feel forever young. This vision statement gives the direction to the company to work towards, even when Estee Lauder founder is no longer with the company.
Proposed mission statement: Bringing the best to everyone we touch by offering the best quality products to our customers and commitment to create the best environment for all our stakeholders.
The proposed mission statement is an addition to the existing one, without losing the touch of bringing the best to everyone; it gets into specifics of what the company is about. It encompasses the customers, and other stakeholders’ needs are also taken into consideration. This means that Estee Lauder is making a commitment by creating conducive working environment. The same happens for the company to create products that are safe to use by everyone and meeting environmental standards such as not using aerosols in their fragrances among other environmental concerns.
Estee Lauder External Analysis
This analysis comprises the study of the macro environment and the industrial environment that Estee Lauder operates in.