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MGT599 Mission/Vision & Stakeholders - Essay Example

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The company was launched in May 1999 by its CEO Patrick M. Bryne (Overstock.com, 2014). Initially, the company sold surplus and returned merchandise on an online e-commerce…

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Subject: Business
Type: Essay
Level: Undergraduate
Pages: 1 (250 words)
Downloads: 4
Author: predovicviviane

Extract of sample "MGT599 Mission/Vision & Stakeholders"

MGT599 Mission/Vision & Stakeholders Overstock.com is an online retailer based in America with its headquarters in Cottonwood Heights, Utah. The company was launched in May 1999 by its CEO Patrick M. Bryne (Overstock.com, 2014). Initially, the company sold surplus and returned merchandise on an online e-commerce marketplace. This liquidated the inventories of at least 18 failed dot.com companies at below wholesale prices (Covell, 2004). But in the recent years, the company has expanded in selling of new merchandise.

The mission of the company is “we save people money” while its vision is “Overstock.com provides online shoppers the best value and a superior customer experience. We are honest, helpful, efficient, accountable and trustworthy, and we are committed to profitability and service. We want our colleagues and customers to feel At Home with the "O"” (Beebe, 2008, p.1). According to the company’s mission and vision, it is a caring company with a business model based on aiding its customers to save money.

The company’s customers and associates matter a lot to them. The company welcomes best and bright innovative works in an open environment to come up with the best solutions for complex problems (Dan, 2007). Entrepreneurs with mindset thrive because they are empowered to join leaders in making decisions. The company’s major stakeholders are; Williams & Williams and Salt Lake City.The company represents and advances the goals of its stakeholders through striving and providing its stakeholders with quality products at the best prices possible (Beebe, 2008).

In addition, the company makes effort to give them a level of service that they will never forget by making them want to come back for more (Nocera, 2007). The company provides its stakeholders with an environment that will help stimulate their creativity and innovation to allow them put their great ideas at work. ReferencesBeebe p. (2008). Overstock.com settles suit with research firm: The Salt Lake Tribune. Retrieved July 2, 2014,From: http://www.sltrib.com/business/ci_10713775Covell, J. (2004).

International Directory of Company Histories. FindArticles.com. 75, Retrieved 2008-03-22. Retrieved July 2, 2014,From: http://news.cnet.com/8301-1023_3-57324691-93/overstock-retreats-from-o.co-name-change/Dan M. (2007). Flames Flare over Naked Shorts. Retrieved July 2, 2014,From: http://www.nytimes.com/2007/01/20/business/20online.html?dlbkNocera J. (2007). Revisiting Overstock.com and Utah. Retrieved July 2, 2014,From: http://select.nytimes.com/2007/03/10/business/10nocera.html?_r=0Overstock.com (2014).

Who we are. Retrieved July 2, 2014, From http://www.overstock.com/about

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