What An Entrepreneur Can Learn From The Rolls Royce Mission Statement
What An Entrepreneur Can Learn From The Rolls Royce 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/
What An Entrepreneur Can Learn From The Rolls Royce Mission Statement - To learn more about this author, visit Lee Lister's Website.
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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/
What An Entrepreneur Can Learn From The Rolls Royce Mission Statement - To learn more about this author, visit Lee Lister's Website.
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