The company was found in 1917 and the head quarter is located in Munich Germany. The Company’s brand is extremely strong and is associated with high performance, engineering excellence and innovation. The BMW brand is often cited as one of the best in the world, and the company continues to launch a stream of innovative products as part of its battle with German peer Mercedes to be the world’s largest luxury car maker.
There's a specialist from your university waiting to help you with that essay.
Tell us what you need to have done now!
order now
The BMW produces its cars in so called series there is BMW series 1, 3, 5, 6, 7, X, Z and M. The following is the list of BMW cars: * BMW series 1 * BMW series 3 * BMW series 5 * BMW series 6 * BMW series 7 * BMW X1, X3, X5, X6 * BMW Z4 * BMW M3, M5 Below are different model of BMW cars: http://www. bmwcoop. com/wp-content/images/2009/09/bmw-hybrid-1. jpg Fig 1: BMW Hybrid http://pictures. topspeed. com/IMG/crop/201006/frozen-gray-bmw-m3-s_460x0w. jpg Fig 2: BMW m3 series QUESTION 1: Briefly explain the relationship between vision, mission and objectives in the process of planning strategies for BMW.
BMW`s Vision Their vision serves as the framework for their Roadmap and guides every aspect of their business by describing what they need to accomplish in order to continue achieving quality growth which contributes to the development of the country. Their vision is 1. Uniqueness through diversity, leadership, taking risk, courteous: this is one of the main vision of BMW Company is to have uniqueness throughout the period, and have a good leadership control in the organization and to be able to take the risk when it shows up. 2.
Total customer satisfaction: this is also a vision of BMW where by it wants to make not only customer satisfaction but it should be a total customer satisfactory in order to come a purchase another vehicle next time. 3. Cost reduction: minimization of cost is very important excluding all unnecessary costs in order for the company to gain higher profit so this also another vision of BMW Company. BMW`s Mission Their roadmaps starts with their mission, It declares their purpose as a company and serve as the standard against which they weigh their actions and decisions.
Their mission is 1. To become the most successful premium manufacturer in the car industry: out there the competition is very high with the other brands such Toyota, Honda, Ford and many more so they are trying their level best to be the most successful manufacture in the all ar industry. 2. Optimizing benefits to customers and stakeholders: the company is expecting much benefit from customers as in customers who will purchase their cars and stakeholders the people who are interested in BMW Company to work or invest in. 3.
Professionalism in all their operations worldwide: BMW have different branches in many countries so they are going to make sure operations operated worldwide are the same as in a customer who purchases a car in London has obtained the same service as the one who purchased in Malaysia. 4. Using properly the available resources and technologies: due to the lack of resources which occurs sometimes their mission is to minimize the use of it so that they can be able to achieve their goals with the resources and technology available. The objectives of BMW Company .
To gain competitive edge: due to the high competition of brands now BMW is trying to gain little by little so that it can be among the top 5 highest brand worldwide as in for now it’s in the top 10 largest car manufacturer in the world. 2. To provide excellent customer service: its goal is to provide to its customer great services when they visit their showrooms and meet the sales people face to face and discuss issues about the vehicle. Due to the welcoming environment it motivates their customer to build a stronger relationship with the company. .
To increase the sales of the company: advertisement works more on this part whereby the more you advertise in a creative way much customers will approach your showrooms to see for themselves so due to the increase of sales the company will earn more profit. 4. For the market to grow around the world: BMW have branches in different countries such as Malaysia, Japan, USA, South Africa and many others countries they did so that their cars would be known worldwide.
The relationship between vision, mission and objectives in the process of planning strategies for BMW is that mission is what your company is achieving currently and vision is where it wants to be in the future and objectives are the goals, so the relationship is that they are connected you can`t achieve your goals without knowing where you have reached so far and the vision will help you to be more serious with the work so that in according to the vision may be by 2012 you want to make sure there is a new type of BMW series out there or even more than that so it depends with the vision of the company.
QUESTION 2: Consider the benefits to stakeholders is an integral part of the company`s existence. Briefly explain the importance of stakeholder analysis to BMW. Stakeholder an individual that can be affected and also affect the business, the main stakeholders are: * Shareholders * Employees * Customers * Suppliers * Competitor * Distributors Shareholders are people who have bought shares in a company. They own a part of the company in exact amount to the proportion of the shares they own. This leads them to a share of the profits in the form of dividends.
The main BMW shareholder is QUANDT Family where by 47% out of 100% is in the hands of the family. Employees are qualified workers who work for your company each in different sector regarding to their qualification and pay him or her salary in compensation. In BMW company they are different departments such human resource department, finance department, marketing department and others. Therefore the company is successful today because the workers working there are professional and have good experience with the job. Distributor is a middle man between a manufacturer and a retailer, who sells to the end customers.
BMW have many distributors worldwide in each country there some distributors there. The following are some of the countries that BMW are distributed: Abu Dhabi, Asia, Australia, Canada, China, Dubai, Egypt, France, Germany, Ghana, Hong Kong, Indonesia, Italy, Jamaica, Kenya, Malaysia, Qatar, South Africa, United Kingdom, USA and many others. http://www. bmw. com/2008/10/22/bmw-shareholder-quandt-forms-holding-company/ Customers are people who buy goods and services at your store, for BMW their customers are high class people because their cars are very expensive compared to others brands.
The customers who purchase their cars are such as managers, executive directors and other people who can afford it. Below is a customer looking at the specification of the BMW car before buying it. Fig 3: A salesman showing a customer a BMW car Competitor a business that provides similar products or services, the presence of competitors in an industry decreases the price of goods and services because consumers have more alternatives from which to choose if the price of a particular good or service is too high.
