Burberry's Style, Structure and Values

Burberry chief executive Angela Ahrendts outlined the soft strategies the fashion retailer has focused on during the recession at the World Retail Congress in Berlin.

Ahrendts said Burberry focused on “style, structure and values” to make Burberry “the great company it is”.

She said on style, the company focused to celebrate all levels of its staff. The company created its Icon Awards to recognise good work. “It’s our version of the Oscars,” she said.

Burberry also ensured all its employees were kept up to date on strategy before the wider world. On structure, she said “the team ethos is so important” and it recruits “as much for EQ as for IQ”.

She also set up at Strategic Innovation Council where “young visionaries can dream on how to get the best out of the new digital world”. Burberry created a social networking site, spoke to customers via Facebook and created 3D fashion shows.

On values, Burberry set up the Burberry Foundation, which “develops the creativity of young people”. She said Burberry rediscovered its purpose and values, which was to “protect, explore and inspire”. The session was streamed live to Burberry’s global offices.

Source: World Retail Congress

Vision, Mission and Values in retail

During delivery of retail trainings it is very surprising to discover that many employees and sometimes even managers and supervisors don't know the company's vision, mission and values.

A vision statement defines the desired or intended future state of company. Vision is a long-term view, it is the source of inspiration. It is how to make a difference to customers, to the community, and to the world.

Mission is a formal, short, written statement purpose of an organization or a team. The company's mission statement tells why and for what purpose the company was formed, what services, goods and ideas it offers the public, and what its standards are. It should distinguish the company from all others and be stated clearly, be brief and simple so that it is understood by all (employees and customers).

The value statement is an expression of a company's core beliefs. Values drive an organization's culture and priorities. Companies write the value statement to identify and connect with the consumer. Additionally, this statement allows for the company's staff to be aware of the priorities and goals of the company.

Are your vision, mission and values defined? Are they understood and shared by your employees?