Mission/Vision and Stakeholders
Overstock.com is an online retailer, which sells a variety of brand merchandise to individual customers, as well as manages inventory supply of some other retail companies.
The mission of Overstock.com consists in allowing its customers to save money through getting the best possible bargain on various brand-name products (“Overstock.com to celebrate,” 2009). Initially, the enterprise offered solely excess inventory on its site; currently, the company fulfils its mission by also selling new merchandise. The company’s vision evolves around excelling in provision of the retail services to clients through enhanced, if compared to other similar market offers, value and supreme customer service founded upon extensive experience. The vision statement also contains core values of Overstock.com, which are honesty, helpfulness, efficiency, accountability, and trust (“Who we are,” n.d.). One of the major objectives of the enterprise reflected in the vision statement is maintaining business profitability.
There are the following important stakeholders impacted by Overstock.com’s success or failure. Firstly, customers rely on the company fulfilling its mission and vision (i.e. great bargains on high-quality goods). Next, its shareholders watch the company’s performance closely, as their financial health is influenced by it. The company’s personnel are another major stakeholder, as employee’s well-being is directly linked to welfare of Overstock.com. It is especially evident in the light of the company’s ranking among the top 15 international employers based in the USA (Smith, 2010). Finally, there are suppliers, many of whom have unique business relations with the enterprise and whose financial stability as well is linked to how effectively the company operates.
Overstock.com is different from the traditional retailing business model, as the purpose of its existence is not simply to sell high-quality products and achieve customer satisfaction, but to take care of the client’s financial health by offering impressive discounts. Its principal stakeholders include clients, suppliers, staff, and shareholders.
References
Overstock.com to celebrate 10th anniversary. (2009, September 28). Retrieved from HYPERLINK "http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-newsArticl e&ID =1335875&highlight" http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-newsArticle &ID =1335875&highlight =
Smith, J. (2010, December 15). The best companies to work for. Retrieved from HYPERLINK "http://www.forbes.com/2010/12/14/best-places-to-work-employee-satisfact ion-leadership-careers-survey.html" http://www.forbes.com/2010/12/14/best-places-to-work-employee-satisfacti on-leadership-careers-survey.html
Who we are. (n.d.). Retrieved from HYPERLINK "http://www.overstock.com/about?TID=FOOT:CI: ABOUT" http://www.overstock.com/about?TID=FOOT:CI: ABOUT
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MISSION/VISION AND STAKEHOLDERS
Running head: MISSION/VISION AND STAKEHOLDERS …