Business Strategy of Mulberry - Essay Example

The mission statement of an organization is essential for developing the business either at the early stage or during expansion. It generally highlights the main purpose and focus of the organization and why it exists. It describes the short-term expectations of the organization. For Mulberry, its mission is to enhance the multi-brand distribution network and continue to maintain its partnership with some of its rivals to avoid competition. To expand its business, Mulberry had constantly focused on setting new outlets with high-quality services.
The vision of an organization is defined as its lofty objectives, which are decided by the management for pursuing in the long run. It actually highlights the milestones, which the organization intends to reach in the future or may acquire in a decade. The vision statement of Mulberry depicts that it aims at increasing the number of stores across the country and has established seven stores that are directly operated as well as ten other stores that are handled by the partners and the company has the target of opening 15-20 stores per year (Teece, 2010).
Specific objectives are essential for an organization as it directs the operation towards the fulfillment of its mission and vision. The main objective of Mulberry is to take up new product development initiatives and has launched the AW13 collection in its brand outlets to attract customers and create a huge customer base. The company manufactures leather goods for both men and women mainly comprising of belts and fashion accessories that are in high demand in the international market.
The goal of an organization is suggested according to its mission and how it will achieve its main objective in the long run. The main goal of Mulberry is to set up new stores in Hong Kong, Doha, Malaysia, Sydney, and the UAE (Chen, et al., 2008). The company plans to invest in the new stores that are to be set up in the next few years and the management has enhanced the structure of the organization to develop the core competency of its employees.