Review and Applications
2.1 – How can a new company best define its business mission statement? Can you find examples of good and bad mission statements in the internet? How might you improve the bad ones?
When writing a mission statement the new company should analyze the benefits required by the present and potential customers. The company should also analyze the existing and anticipated environmental conditions. The statement should focus on the markets the company is going to serve not necessarily the product they will be offering. The mission statement also creates boundaries for decisions, objectives, and strategies.
I found a couple good mission statements online. This one is from Southwest Airlines; the mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit. This shows the company is committed to customer service and that is ok to be different from the other companies in that same industry. The other mission statement was from the Hershey company; bringing sweet memories of Hershey happiness to the world everyday. I think this mission statement focuses on all customers and on all Hershey products. One of the mission statements I found that I didn’t think was very good was from AutoNation; to be America’s best run, most profitable automotive retailer. I thought this was very company focused and not customer focused. How would customers realize the benefits of this company?
4.1 – Perform a mini-situation on one of the companies listed below by stating one strength, one weakness, one opportunity, and one threat.
I chose the United States Postal Service (USPS). I thought there were many benefits when going to the website that I never knew existed. There is a shipping online section where you can do everything from start to finish. You can change your address online through USPS now if you move. You can also track your packages and even buy stamps online. I think a weakness of the USPS would be the man hours used to deliver the mail to every address everyday and the wide area it covers. The competitors of USPS only deliver packages sporadically. Also, the image of USPS being an old and slow delivery service doesn’t help any. An opportunity of the USPS is that they receive revenues from direct to consumer advertising through “junk mail”. One of their main threats would be the competitors such as UPS and FedEx. These companies only deliver packages on a needed basis saving on delivery costs.
Case Study/Application Exercise
Cirque Du Soleil
1. Outline a rudimentary SWOT analysis for Cirque du Soleil.
Some strengths for Cirque du Soleil would be the popularity and the profit that this company makes. They use creative employees to help keep new ideas coming. I think the image the company has as a fun, exciting show would also be a strength for them. A weakness for this company would be the costs dealing with production of the shows. Some of the opportunities of the company would be the partnering with the casinos. This helps the company by the casinos sharing in some of the costs. The number of people they have on hand that could be hired is another opportunity for them because they would be able to hire qualified people at any given moment. A threat for the company would be the competition of the other shows in Vegas and the Broadway shows.
2. List and describe at least three keys to Cirque du Soleil’s competitive advantage.
I think the image of Cirque du Soleil is one of its key competitive advantages. Many people believe it’s one of the most successful entertainment companies in the world. The fact that the company makes a profit also shows it is superior to some of the other shows going on. Partnering with the casinos and places like Disney World also help to promote the company and help cover some of the production costs. Another unique feature of this company would be the two men who run the company. They have come up with a lot of great ideas and have even use the ideas of the creative employees for the shows. Putting the shows on the television has also given the company a competitive advantage. This would bring on customers that can’t attend a live event.
3. Explain how Cirque du Soleil implements, evaluates, and controls the elements of its marketing plan.
I think the elements of Cirque du Soleil’s marketing plan are known by everyone in the company. This happens because they use the employee’s ideas and let them be involved in decisions. They have a great product (the different shows) and they market the product in many different places such as the television, Disney World, traveling world tours and casinos, which helps in gaining new customers. The promotion of the shows can be seen by many. It seems at though the company also evaluates and controls their marketing plan by coming with new shows and performing all over the world. The creativity of the company helps their strategic planning to be effective.
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The USPS had indeed amped its services and marketing. I am on the USPS mail list and they produce very good material on direct marketing.
ReplyDeleteRe Cirque du Soleil’s competitive advantage:
Superior brand management achieved through product integrity, exclusivity, and prestige makes Cirque one of the most sought-after entertainment tickets in the world. Cirque has superior breadth and depth of human resources in all key areas. Strategic partnerships cut costs and provide powerful support; they have a vested interest in Cirque’s future successes. Cash flow—Cirque’s incredible profitability allows it to reinvest its money into product development for what is already a market leader in terms of quality and value. General business management and the preservation of the company’s original culture keep priorities aligned and unify movement toward Cirque’s objectives.