Business aims, objectives, and values
A Michelin case study

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Introduction

Within every organisation, the people who run and/or own it will have aims and ambitions for the organisation and themselves. Large organisations in particular set down (for all to see) what they aim to do and how they aim to do it. This addresses two broad audiences. One is everybody who has a stake of some sort in the business, including employees. When employees understand and appreciate what their organisation stands for and looks to achieve, they are better placed to 'make it happen'. The other audience is the public at large, who may or may not be consumers of the organisation's output. This means the business hopes, among other things, to become more widely known and better understood.

This Case Study looks at one internationally famous company and the steps it has taken to formalise its objectives, re-emphasise its traditional values and translate them into management principles that enable it to achieve its long-term corporate aims.

Michelin has been hugely successful at creating widespread knowledge of its products and its emblematic character 'Bibendum' - the Michelin Man. This is so famous and unique that it was elected the "best logo of the century" in 2000. For millions of people worldwide 'Michelin' means high quality and innovative tyres, tyre-related services, travel publications (hotel and restaurant guides, travel guides, roadmaps, digital services, etc) as well as more recent consumer products (accessories, lifestyle products, etc).

As the world's No. 1 tyre producer - with around 20% market share - the company employs nearly 125,000 employees across all continents. Its sales network covers 170 countries. Every year, Michelin's 74 production sites in 18 countries produce 180 million tyres as well as 22 million maps and guides.

Within the UK, the Group operates under the name Michelin Tyre Public Limited Company. This is the largest UK tyre manufacturer with around 3,500 employees spread over three main sites: Stoke-on-Trent (headquarters, retreading factory, logistics centre), Ballymena in Northern Ireland (truck tyres) and Dundee in Scotland (passenger car tyres).

The above gives an idea of the scale of the company's operations and its main lines of business. It says little, however, about the company's broader objectives. The rest of this Case Study focuses on the importance of values and strategy in aiding Michelin to deliver its aims and objectives, in ways that meet the needs and aspirations of its stakeholders.

Michelin | Business aims, objectives, and values