Tweet

What An Entrepreneur Can Learn From The Rolls Royce Mission Statement

Guest post by:

Article Overview: Rolls Royce is one of the most recognised and aspirational brands in the world. It is at the centre of their company and is core to all that they do. So how has Rolls Royce stayed at the top of its market, through recessions, depressions, wars and why is a Rolls Royce car on the shopping list of the wealthy and future lottery winners? More importantly want can you learn from their brand and mission statement?

What An Entrepreneur Can Learn From The Rolls Royce Mission Statement

Rolls Royce is one of the most recognised and aspirational brands in the world. It is at the centre of their company and is core to all that they do. So how has Rolls Royce stayed at the top of its market, through recessions, depressions, wars and why is a Rolls Royce car on the shopping list of the wealthy and future lottery winners? More importantly want can you learn from their brand and mission statement?

A quick look at the Rolls Royce web site quickly explains how much they value their brand – they even have their won separate site for their employees to understand how to manage their brand image! It also informs us that they produce airline engines, marine solutions and off shore and on shore energy provisions. All areas where you really need their engines to work!

Right in the centre of their site is this statement: “'To be Trusted to Deliver Excellence’ is our central organising thought. It is what we aspire to become. It is the embodiment of the promise we make to our customers. In today’s competitive environment, it is not enough to build great products: our customers are looking to us to deliver the best in service solutions. When we do, we build enduring relationships with our customers, partners and other stakeholders.”

Although they don’t specifically define their Mission Statement, as many companies do not, – you can be fairly safe in thinking that the above is pretty core to it. So let’s break it down and see how you can learn from it for our own business.

• Trust – the first and most important word. If you are building an offshore oil rig or an airliner – you want and need to trust the engineering that supports it. Building trust in your products and services will keep your customers coming back to your business rather than a competitor.
• Deliver Excellence- quality and no hassle delivery must be one of the major attributes that your customers are seeking.
• Central Organising Thought- they have kept their mission statement and indeed their brand, central to how they manage their business. Too often, new businesses define their Mission Statement for their business plan and then put it into a drawer and forget about it. To succeed your Mission Statement and brand must be reflected in all that your company does and understood by both your employees and customers.
• Understanding Customers – it is clear that they understand their customers and what they are asking from their company and their goods and services. Do you understand your customers, market and what they ask of your company? Are you satisfying that need? It is only too easy to keep churning out the same goods and services when the market has moved on and is demanding other things – perhaps those that your competitors can give them!
• Building Enduring Relationships – it is a common mantra that it is easier and cheaper to keep a customer than go out and find new ones. They understand that keeping customers happy is done by building relationships with them – more than that they also include their business partners and other stakeholders such as shareholders in this equation. Work hard in maintaining your customer base by building relationships with them. Work well with your business partners so that feel able to recommend you to others and bring more joint ventures to you. Look after your shareholders and they will want to stay with you and invest in your business.


All in all I think that the Rolls Royce Mission Statement and concentration on their brand image explains why they are so successful. Makes you proud to be British!

Reference: http://www.rolls-royce.com/about/brand/

Related Articles
  Branding, The How’s, What’s And Why’s
  Small Business Marketing - Making Use of a Mission Statement
  Lesson #4: Low Risk Means Low Rewards
  Website design isnt a case of cheapest is best
  Why Choose You

Article Tags: airliner, brand image, building trust, business trust, competitive environment, competitor, depressions, embodiment, lottery winners, marine solutions, mission statement, offshore oil rig, organising, own business, recessions, rolls royce, rolls royce car, service solutions, shopping list, stakeholders



Related Forum Posts
Mission Mantra - Why don't we call it a mission mantra? It depends on the business and how much emphasis they put on a Mission Statement or Mantra. Most of the business I've dealt with don't really care to much about a Mission Statement and only believe they need one because everyone else has one.
Re: Essential Leadership skills - Vision Values Mission Strategic Thinking Decision Making Communication Team Bonding People Development Coaching / Mentoring / Guiding / Grooming Presentation Thanks Robert
Lisa Shepherd Story - Great story! I love the Earn - Learn - Equity - it's very relavent for new entrepreneurs.
Do you believe in "Mantra" or "Mission Statem - In the Strategic Management course I'm currently taking, my group and I were supposed to come up with an improved mission statement for the organization we're analyzing or explain why the existing one doesn't need to be revised. However, business expert and author, Guy Kawasaki says "Forget mission statements; they're long, boring, and irrelevant. No one can ever remember them-much less implement them. Instead, take your meaning and make a mantra out of it. This will set your entire team on the right course" ("The Art of the Start" 3). Which do you use for your own businesses: Mantra, Mission Statements or neither? Thanks
Business lesssons from movies and TV - There's a new book out on doing business the Sopranos way... that's a TV show I never watched and I'm not interested in the book But sounds like a fun idea... Movies and TV do teach us things, even if only subliminally ... Toy Story is a good example of leadership styles between the "old way" Woody the wooden puppet and the "new way" Buzz the charismatic space ranger...(and one of my favorite movies...) Mission Impossible the tv series (not the abominable movies) would be great for plannng intricate operations and being prepared for anything...


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Download a template or see a lawyer?

Your Local Small Business Online Marketing Funnel

TOP Level Selling

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.