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Key Topics
Requirement
Evaluate the Current Situation of BMW
• Firm’s mission, vision, objectives, strategies, policies
2 pages plus Citation page.
Solution
BMW Canada: An overview
Vision:
BMW Canada is a part of the BMW Group which believes in being the number one trough creating premium vehicles. This is evident by the vision statement of the BMW Group which says-
“We are Number ONE.
We inspire people on the move:
We shape tomorrow's individual premium mobility.”
The company believes in having a consistent focus on the premium segment and is the only brand which has all its products focused on the premium segment. (BMW Group, 2016a)
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Mission:
The BMW group has completed 100 years of service and according to their official websites, the BMW Group as well as BMW Canada is looking ahead at the next 100 years of innovation and technology. (BMW Group, 2016a) (BMW Canada, 2016)
The company’s mission statement is describes its premium positioning and the statement is:
"The BMW Group is the world's leading provider of premium products and premium services for individual mobility." (Barbara Farfan, 2016)
This statement is the mission statement of BMW Group and it is aimed at achieving this target by 2020. (BMW Group, 2016a)
Strategy:
BMW Group’s strategy is to embrace the opportunities that the industry offers. It will aim at expanding its technological competence and enhance interaction of individuals, services and vehicles for sustainable mobility and driving its progress. The Group has chosen to focus on some key areas for the strategic approach for advancement. These areas include brands and design, products to maintain their premium product standards, technologies to progress with the transforming industry and its advances, enhancing customer services and experiences, profitability of the firm and the digitalization of the company.
A strategic approach is set to be used to gain competitive advantage and reach the goal of becoming the number one brand in the individual mobility segment. The company focuses on the above mentioned critical aspects to gain competitive advantage. The strengths and the main factors setting the BMW Group apart from its competition are the customer experience that the company provides, the outstanding design of the brands which make them aspirational brands, the constant technological innovations, developing future technologies, and the excellent results that the company has achieved in its endeavours. (BMW Group, 2016a)
Objectives:
The objectives of the BMW Group are focused on achieving sustainable growth in the industry. The company aims to create growth by targeting new groups of customers and also developing new products and services. They also aim to access new technologies by pioneering in new technologies and having new sales concepts. The company will focus on increasing their profitability and shaping the future by building a sustainable brand, differentiating from competition and creating future-proof products. (BMW Group, 2016b)
Policies:
The policies of the BMW Group focus on creating an environment conducive to sustainable growth and looking at the future. The corporate culture gives importance to operational excellence and innovative and fresh thinking. (BMW Group, 2016a)
The BMW group believes in mutual respect, performance based remuneration, team performance, security and responsibility, respect for human rights and has a strong commitment to the society. They believe that in associate oriented policies can best help them succeed as the success of the company depends primarily on the company’s associates. (BMW Group, 2003)
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Barbara Farfan (2016), “Mission Statements of Auto Manufacturers”, Retrieved from: https://www.thebalance.com/auto-industry-mission-statements-4068550, Accessed on: 9-Oct-16
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BMW Canada (2016), “BMW Next 100”, Retrieved from: http://www.bmw.ca/en/topics/experience/bmw-next-100/home.html, Accessed on: 9-Oct-16
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BMW Group (2016a), “BMW Group”, Retrieved from: https://www.bmwgroup.com/en/company.html, Accessed on: 9-Oct-16
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BMW Group (2016b), “Investor Presentation”, Retrieved from: https://www.bmwgroup.com/content/dam/bmw-group-websites/bmwgroup_com/ir/downloads/en/2016/InvestorPresent_February_2016_online.pdf , Accessed on: 9-Oct-16
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BMW Group (2003), “Value-oriented Human Resources Policy.”, Retrieved from: https://www.bmwgroup.com/content/dam/bmw-group-websites/bmwgroup_com/responsibility/downloads/en/2003/BMWGroup_Personnel_Policy_Guidelines.pdf , Accessed on: 11-Oct-16
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