BMW is one of those companies where introductions are not necessary. They have been around for decades and have made a huge impact in the automobile industry. Despite the recent changes in the industry and the conversion of vehicular technology and fueling from traditional petrol and diesel to electricity, BMW is still a powerhouse in the market. It has still been making sales due to its commitment to better and more durable cars.
BMW was founded in 1916, more than 105 years ago, under the name Bayerische Flugzeugwerke AG. Since then, it has changed its name once and has made a logo change in 1997, representing the classic BMW, blue, white, and black. It is the fourteenth largest producer of vehicles and has had a tremendous run in the whole world.
Its cars have seen every road in the world and are found on every street, which increases the car’s value, but also their engines are highly versatile, and their company production is pinpoint and quality-focused. Many rich folks and millionaires around the cars that BMW produces and many cars are also found in race tracks and other sporting events.
BMW also owns the brands of Rolls-Royce and Mini. Rolls Royce is the producer of the most expensive cars globally, while the Mini is the best hatchback, regarded for its excellent low fuel consumption, brilliant mileage, and many more. Plus, the Mini versions are one of the most aesthetically pleasing car models globally, which are affordable.
In this way, BMW has left its mark in the motor vehicular world and continues to do so despite the pandemic dragging the profits and earnings of businesses away. The dedication and the passion the people working in the company have put into giving the best motor vehicles to people are brilliant. This performance in itself is worth applauding.
That is why, to figure out the company’s secrets to how everything works and how they go through the different ups and downs with a positive attitude, we will be taking a look at the vision and mission statements. So we will talk a little about the company first and then dive into analyzing BMW’s mission and vision statements. We will also look at the values that the company strives for when making products for its customers.
A Little About BMW
As we know earlier, BMW started 105 years ago in Germany and then became one of the largest selling automobile manufacturers in the world. It is one of the most remarkable brands ever to enter the world of automobiles, and it also makes sports bikes under a different banner known as BMW Motorrad. Therefore, a major part of their profit also comes from the sales of motorcycles.
Their marketing strategy revolves around the significance of their world-famous logo, one of the most recognizable logos next to McDonald’s and Volkswagen. In addition, they market their cars by showing off their best features like its comfortable seats, state-of-the-art inner engineering, luminous and quality paint, durable rubber tires, and the beautiful aesthetic body of the car.
This marketing strategy makes sure the car company is still respected as one of the world’s best and most recognizable car companies. The different cars, such as the SUV X3 models, the BMW M Series models, the GT models, and the I models, are some of the most revered and celebrated cars globally due to their beauty and power.
BMW has also started manufacturing electric vehicles, and in the first quarter of 2018, they managed to sell more than 26,000 models of electric vehicles. Their innovation and constant evolution are why they are still popular in the market of automobiles and have made sure they are here to stay.
Their stock has been included in the DAX index and is growing exponentially, even though the pandemic has caused quite a ruckus. That is why a way to peer into their success and learn from their mission will be an essential part for every reader and businessman to adapt to their work schedule.
BMW Mission Statement
BMW has impacted many lives due to their fantastic manufacturing and their work ethic. They have always survived the impossible and strived to be the best in the business, which is why their mission statement is based on making sure they accomplish just that.
The mission statement of BMW reads as “to become the world’s leading provider of premium products and premium services for individual mobility.” The workers have adopted this motto in the company to make sure they work hard every day and do not think about dragging them down.
They strive to be the best and accomplish the very thing written in the mission. There are two main pieces of information we need to decipher from the mission statement. They are:
- World’s leading provider of premium products and premium services
- Individual mobility
The first part of the statement talks about how this company wants to be the biggest provider of the products and services it is known for. It is one of the best companies for automobile manufacturing because it does not have a single type of formula for a single car. There are variations of drive trains and engine variations for different cars. They are petrol and diesel cars in which they have also started producing electric vehicles due to the rise in electrical automobiles. They have worked with different industries and companies and have also produced art cars.
They produce race cars, which have the best engines and higher horsepower with stability and maneuverability. That is why the mission statement’s first part says that BMW wants to get involved with everything related to automobile services and products to be the world’s leading manufacturer, producer, and seller in the industry.
The second part of the statement says that cars are produced to give the best mobility to the people who buy the cars. Having a vehicle completes the basic need of traveling from one place to another, but BMW does not just want to fill in for that need. It wants to provide the best in class to fulfill the need with the best results and grace. The best thing about owning cars that BMW makes is that it commands a certain level of respect on the road, even while commuting, if anyone sees a BW M2 pass by, heads are always turning in that direction due to the years of history and also the aesthetic appeal and power of the car.
The cars they build are premium, especially sports cars, which are premium made for single travel and provide a lot of horsepower for racing. These cars are symbols to show one’s success and hard work. BMW has aimed to provide the best possible technology for every car they mark so that the people who purchase the car do not fret or feel even slight hesitation or guilt. They want to make the car worth purchasing for their price.
BMW Vision Statement
BMW has always had a vision in which they have been responsible for producing products that sell and do better than most automobile industries. They are not egotistical or cocky with their production line, but they have confidence in themselves for making sure they are producing the right products and services that people can use and rely on. As a result, the world has regarded them as one of the legendary automobile producers in the world, and their hard work, passion, integrity, and intelligence in production have shown the world the results in the form of great cars such as the M3, M4, X3, Z4, i8 and many more.
The vision statement of BMW is as follows, ”to be the most successful premium manufacturer in the industry.” There are 2 exact elements in this statement we need to analyze to get a proper grasp on the thought process and the company’s goals.
- Most successful manufacturer
- BMW and their industry rivals
The first element says that BMW has strived to be the best in the industry because they have a comparatively longer legacy of producing vehicles than most other companies competing against it. They plan to achieve this feat through their new projects and their engines that give more horsepower and performance than the previous ones.
They also want to improve their existing design and body blueprints and give the customer’s cars the total package with attractive bodies, power in the engines, best mileage, grip tires, colorful and metallic paint, and a good appeal. That is why they aim to be the best company in the industry due to their hard work and not because some industry has retired or given up on their conquest.
The second element talks about BMW and its different rivals that have been present in the company throughout the years of its competing against other companies. They aim to surpass them and maintain the respect they have received throughout the years for their brilliance in automobile engineering. They aim to continue making changes in their whole car if they have to turn out the way customers want and satisfy the people working to build them.
They have worked day and night to produce new and improved ways to build better drive trains and models so they can innovate and present cars in a better way. The ability to never give up, keep on trying, and adjusting to the world is one of the most important requirements for any company, and BMW has done exactly that through its 100 plus year history. In this way, it prepares itself for the future and encourages its employees to look for newer ideas and incorporate them into its products and services. The many things companies do not do is evolve with the times, but this is exactly what BMW has had the budget and the strength to do.
Additionally, we will discuss the values that BMW adopts in its company policy and make sure the employees follow these values in their work lives. Those values include:
- Responsibility – Responsibility to BMW means to always adhere to the rules and be responsible as both employees and company to the actions of the company.
- Openness – Openness is the ability to give the people answers to the questions related to the product and the company and allowing the people to look at the different aspects of the company without any hesitation.
- Appreciation – Appreciation means to be thankful for everything that comes into the company and goes out of it, which includes being thankful for the customers who buy the products, the people who make the cars, and the engineers who come up with the design, and so on.
- Trust – Trust is to place their hope onto thoughts that count, the people, the employees, and the quality of cars produced. Both sides need to have trust in each other(company and customers) so that they can be honest about the things they have done.
- Transparency – Transparency is the ability to adapt and make sure they are giving information to the people about whatever endeavor they have undertaken in their company. It is important to make sure the people know what the company is up to.
BMW is here to stay with its better car selection in recent years and its profits in the previous years. They have maintained their legacy from the day they started and have evolved throughout the years. They have become a legendary car company due to their mission, and vision statements, and the motivation it gives to the workers. Thank you!