Creating Ideal Retail Centers: A Mission Roadmap - Essay Sample

Introduction

"Our mission is to create ideal retail centers (Shopping Malls) and leisure and entertainment facilities (hotels, restaurants and entertainment centers) to our local and regional customers while using latest technological innovations to enhance the quality of our products, increase the experience and satisfaction of our customers while observing reliability, trust, integrity and passion."

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An ideal mission statement acts as the roadmap of a company and its stakeholders towards their goals and objectives. The mission statement also captures the purpose, the objective, core values and the goals of the company. Furthermore, the mission statement establishes the company's operations and the intentions the company has towards its customers. It also puts the company on the spotlight and highlights the customers' needs it intends to address.

The mission statement above was formulated with the aim of capturing the objectives, goals, vision, and core values of Majid Al Futtaim since the initial mission statement does not capture these items. Moreover, the mission statement was formulated to reveal the nature of products and services provided by Majid AL Futtaim Company as well as their target market. From the statement, Majid specializes in the development and operation of shopping malls, restaurants, hypermarkets as well as leisure and entertainment facilities. In addition, the mission statement was formulated to capture the type of customers targeted by Majid Al Futtaim. The statement shows that Majid targets individuals that do their shopping in malls and hypermarkets as well as those looking for places to spend their leisure and access different types of entertainments such as cinemas. Notably, majority of the Majid Al Futtaim customers shopping in these malls purchase products from regionally renowned and popular fashion brands, dine in regionally recognized hotels and receive entertainment from internationally recognized entertainment brands that are owned by Majid Al Futtaim.

Another reason for coming up with this mission statement was to capture the core values held by Majid Al Futtaim since they are not captured in their current mission statement. Majid Al Fittaim is guided by the values of integrity, trust, passion as well as reliability. These qualities indicate that the company and its stakeholders value its customers and society. Notably, the company is committed to building business relationships founded on trust, integrity, love, and reliability. These values also help Majid Al Futtaim to deliver services and products that enhance the lives of their customers as well as help them achieve their best in life.

Vox Cinema Macro Environmental Factors

Vox Cinemas is the most creative and customer-oriented exhibitor across the Middle East, which is possessed and driven by Majid Al Futtaim Cinemas. It is the number one shopping mall providing retail products and services as well as entertainment in the entire Middle East and its regions.

Social-cultural factors are macro environment factors that have been affecting Vox Cinemas and is likely to continue affecting its business. Before releasing a movie or any of its products in the market, Vox Cinemas has to consider the positive or negative implications of the product to its customers and society. Vox has to eliminate products that may harm their customers and society. Furthermore, the exhibitor is compelled to produce and sell products that are in agreement with the values and cultural practices of the targeted customers. The company has to eliminate such products as a way of remaining socially responsible to society.

Secondly, economic factors also have affected Vox cinemas and will continue to affect it. Notably, Saudi Arabian government has announced its intention to build 350 cinemas with more than 2500 screens by 2030 as a way of enhancing its film industry. The government intends to invest over $1billion in the cinema industry to accomplish this goal. This initiative has led Vox Cinemas to increase their cinema screens in Saudi Arabia to 600 by 2023. To accomplish this, Vox Cinemas will use more than $540. Technological factors also affect Vox Cinemas and are likely to continue affecting them. Notably, UAE has strongly invested in fiber connectivity to almost all homes thus enabling their citizens to access fast internet connections. This has affected the number of people purchasing the movies produced by Vox Cinemas and visiting movie theatres as many may prefer to stream the films from their homes.

Conclusion Opportunities and Threats Ahead Of Vox

Vox Cinema has the opportunity of spreading its presence in other countries beyond the Middle East and North Africa by opening more cinema screens globally. Vox Cinema has the opportunity of using the strong internet connection available in the UAE to market its products digitally. Since almost every homestead is connected to fiber, then they can easily stream film previews and advertisement videos of other products offered by Vox Cinemas. Competition from other local and international cinemas is one of the threats that Vox Cinemas is facing. Vox cinemas face strong market rivalry from the existing cinema brands in UAE and within the Middle East region as well as those that will emerge in the future. Furthermore, the availability of strong internet connectivity among Vox Cinema's in UAE and other Middle East regions makes it easier for people to download movies online rather than purchasing movie DVDs thus causing Vox Cinemas to make losses.