Volvo Mission and vision statement
Volvo is a leading manufacturer of cars, trucks, SUVs, buses, and construction equipment. It has its headquarters in Gothenburg, Sweden. However, the company has maintained a strong global presence and sells its products in 190 countries worldwide. The Volvo Group has extended its global presence through a large network of dealers and distributors. The company has introduced a nice range of Sedans, crossovers, SUVs, and hybrids. It is also going to introduce an all electric SUV soon. Volvo cars are known for their excellent quality, product design, and performance. Apart from being a globally famous automobile manufacturer, Volvo also makes marine and industrial engines.
Mission Statement of Volvo group:
Driving prosperity through transport solutions
The mission statement of Volvo group is short and focuses mainly on its products and strategy. A mission statement expresses the purpose that a business exists for and good mission statements clearly express the central purpose of a business. They include several factors like target market, competitive position, financial position, and stakeholders among others. However, Volvo's mission statement looks incomplete in this regard. It does not adequately describe the purpose of the business. Moreover, the mission statement of Volvo group is too generic and can be applied to nearly any automobile group that produces innovative mobility solutions for its customers. It is clear from the statement that Volvo strives to build transport solutions that through their performance help the customers grow their productivity. However, the statement does not precisely express what type of transport solutions Volvo builds, how they help its target market or what is its competitive position compared to its rivals. Volvo must try to make its mission statement more detailed and focused.
However, here is how the Volvo Group expresses its mission in its own words:
The Volvo Group’s mission statement expresses a broad ambition – to drive prosperity through transport solutions. Our customers provide modern logistics as the base for our economic welfare.
Transport supports growth, provides access for people and goods and modern transport solutions facilitate the increasing urbanization in a sustainable way. Transport is not an end in itself, but rather a means allowing people to access what they need, economically and
Volvo Vision Statement
To be the most desired and successful transport solution provider in the world.
Volvo Group Vision Statement
Just like its mission statement, Volvo Group's vision statement is also short and generic which does not successfully express the future the company envisions for itself. A vision statement sets the direction for a company's future. Being the most desired and successful transport solution provider - Volvo's vision statement is too limited in scope. It states that Volvo will aspire to get ahead of all others and become the most successful of all automobile brands. However, it does not highlight the type of competition that Volvo faces or how it plans to reach the top. Moreover, it is too generic since every brand strives to be the best and stand out. The vision statement must be more precise and also include stakeholders as well as the financial position of the brand relative to others.
Here is how Volvo explains its vision statement in its own words:
Our vision is to be the most desired and successful transport
provider in the world. We are in a people business. Even though we operate in a business-to-business market, people make the decisions. Trust and relations are as important as the total offer. We have competitive products and services and it is with these and our people that we build lasting relations with our customers. In the end, by bringing together the best of everything from the offer to the relationship, we will become the customers’ preferred choice.
Volvo Annual Report 2019.