The vision, mission and values statements hold great importance when it comes to any business entity. Collectively they provide a direction for the organization to move forward. The vision statement is simply an organization’s broad gauged aspirations which they hope to achieve. The mission statement is simply the plan of action of how to achieve the vision of the organization. Meanwhile the values statement often termed as the code of ethics is the collection of beliefs that are induced in the organization and its employees. In this article, we are going to see about Yeti Vision, Mission and Values Statement Analysis.
Yeti Holdings is an American company which specializes in manufacturing of outdoor products including ice chests, steel drink wares, coolers etc. The company was founded back in 2006 by the brothers Roy and Ryan Seiders. The headquarters are located in Austin, Texas, U.S.
Although the vision statement of Yeti Holdings is yet to be published, still they are very clear about it. They want to treat their clients with an optimal outdoor experience which they have been longing for.
The mission statement of Yeti is to “build the cooler we’d use every day if it existed.” Quality is ultimately the primary target of their statement. Enhancing the lifestyles of their consumers is also their top priority when it comes to their mission statement.
The values statement of Yeti Holdings includes “unwavering strive for improvement, authentic and innovation, prioritizing, be responsive and cooperation.” These values are the reason behind so much success of Yeti Holdings.
Analyzing the Vision, Mission and Values Statement:
Vision, mission and values statement speak volumes about the Yeti Holdings. These statements are the sole reason behind the top qualities the organization has maintained over the period of time. The vision statement is all about enhancing the outdoor experiences. They want to make it worthwhile. Moving on to the mission statement, it circles around the fact that their product is meeting all the demands of their customers. Their coolers are fulfilling all the requirements of the outdoor enthusiasts. Lastly the value statement incorporates the attitude of Yeti Holdings towards their customers. It encompasses the beliefs that are induced in their employees when dealing with the clients.
Analysis of their Vision Statement:
Yeti Holdings have fulfilled all of the requirements of their mission statement and this would surely prove beneficial in achieving the ultimate goal or we can say the vision of the organization. They want to achieve the point where their customers can go out without any worries related to their apparatus. They can enjoy their time with the nature. This is what the vision of Yeti Holdings is all about. So far they are doing great in this regards. They have followed their mission statement and have created a kind of artificial monopoly in the market.
Analysis of their Mission Statement:
Looking closely at their mission statement, it can be divided into two parts:
- Premier products
- Improvement of life style
They not only are working on the quality of their products but also on the later effects that their product would cast. Yeti Holdings are producing premium quality stuff. They claim to have the modern yardstick when it comes to their competitors in the market. After their quality products, they are pretty satisfied that their customers can freely enjoy their trips and all that. They do not need to worry about it. The reason is that the products of Yeti Holdings are quite reliable. They do not fade away easily rather they go for a long, long time. So that is how they have been working on their mission statement so far.
Analysis of Value Statement:
Talking about the value statement of Yeti Holdings, the employees have been following the most professional practices. Their dealings with the customers are all done with open mind. The organization has been implementing numerous innovations which have been working out quite well. They have been constantly improving their standards. It is all visible in their products. These are basically the norms followed within the organization. When it comes to the public dealings, they have their priorities already set. They have been emphasizing on being cooperative and responsive towards the customers.
Let’s have a quick dig at some statistics to analyze how Yeti Holdings have been performing in the market. For the year 2021, they have a profit margin of 15.04%. Their income statements reveal revenue of 1.34 billion. Talking about the share of Yeti Holdings, its average volume is 883.34k.
In short, we can say that Yeti Holdings have been outperforming its competitors in almost every aspect.
For any organization, achieving an artificial monopoly is a dream state. To achieve this status, the organization needs to have a well framed vision and mission statements. Setting these statements is one thing and living up to it is another. But nevertheless if they follow and implement these statements properly, then any organization can be successful. The same goes for the Yeti Holdings. They have held firmly to their statements and so far it has been paying off and looking at their future, we can predict a bright future ahead. Through this article we would have some clear idea about Yeti Vision, Mission and Values Statement Analysis