Cosmetic Empire Estee Lauder Essay Example

1967. Then, she received an Achievement Award from Albert Einstein College of Medicine at Yeshiva University.

At the same time, the company expanded by opening Clinique laboratories, Inc. and in 1983, their products were introduced in the Soviet Union (Russia). Estee Lauder Companies, Inc. Finally, after a great achievement, Mrs. Estee Lauder passed away in April 2004. She established a small home operation into worldwide and wins the competition with the spirit of entrepreneurship and has an excellent business strategy. She developed a long-term strategy at the early stage. There are based on five imperatives: Optimized if brand portfolio. Strengthening of product categories Strengthening and expansion of global markets. Diversification and strengthening of channels of distribution.  operational and cost excellence She was proud that her company went public in 1995 and now is led by Estee and Joseph’s children and grandchildren. They were also maintaining Estee’s goal which is “to optimize, diversify, and grow the business over the long term”. Estee Lauder Companies, Inc. 2. 0 Strategy Formulation of Vision and Mission Vision is where we answers the question of ‘what we want to become’. It is the first step in strategic formulation and it is usually simple and in one sentence.

The vision for Estee Lauder is: “Bringing the best to everyone we touch” Mission are enduring statements of purpose that distinguish one business from other similar business. It identifies the scope of a firm’s operations in product and market terms. Mission statements basically answers the question of ‘What is Our Business? ’ There are nine components that have to be fulfill in a mission statement, which are:

• Customer.
• Product & services.
• Market.
• Technology.
• Concern for
  

survival, growth and profitability.

Estee Lauders current mission The mission at Origins is to promote beauty and wellness through good-for-you products and feel-good experiences while celebrating the connection between Mother Nature and human nature. Origins are a brand that offers options for consumers. Origins are now a master brand with three distinct pillars all dedicated to offering healthy choices for every consumer. Origins was the first to market with a full line of prestige skin, body and hair care products certified under the United States Department of Agriculture (USDA) National Organic Program called Origins Organics.

Estee Lauder Companies, Inc. This collection of world-class names, the Group recently acquired several very innovative cosmetics companies that are targeting a new customer segment—five recently formed American companies and a French brand specializing in professional makeup products. Mission that are given:

• Provide customers with innovative cosmetic products of the highest quality.
• Deliver outstanding services by treating each individual as we ourselves would like to be treated.
• Create an environment that fosters personal growth and well being.
• Build partnership with our suppliers, retailers and colleagues based on fairness and trust.
• Enhance our reputation of image, style and prestige.
• Pursue profit, but never at the expenses of quality, service or reputation.
• Eliminate waste and reduce inefficiencies in order to provide maximum value to our customers.
• Be responsible citizens in every community we serve.
• This current mission is more to concern for survival, growth, and profitability.
• There are lack concern on the market, self concept and concern for employees.
• Mission should be clear and attractive.

It also gives a first image on the point of

the company and its businesses. In this mission statement it shows that they are concern for the public image: Eliminate waste and reduce inefficiencies in order to provide maximum value to our customer’s and responsible citizens in every community they serve.