How The Motivational Skills Of An Entrepreneur Can Lead A Company To Extraordinary Heights In Cosmetic Industry
All business enterprises depend upon successful teamwork among the employees to enable the organization reach its strategic goals and objectives. As more business organizations are now entering the international arena, it is imperative for employees to be scattered in different places around the world. The circumstances may arise where these global employees located in various parts of the world will have to share the information they have in their individual locations. This is necessary for organization to strategize and innovate into order to market the company’s product. In to facilitate the effective development of this global team, it is essential that that corporate leader understand the importance of his role. He plays an essential part in resolving conflict, motivating people, building morale, providing guidance, fostering creativity and promoting values.
In the global cosmetic and skincare industry, the Estee Lauder Corporation owes much of its success to outstanding leadership and motivational skills of its entrepreneur, William Lauder. William Lauder is the grandson of Mrs. Estee Lauder – the eminent entrepreneur who established the Estee Lauder Corporation. Like her grandson, she too is an outstanding leader and motivator. When she entered the cosmetic industry in 1946 with her husband, she produced and marketed just four high quality skincare products that were safe on the skin. These products were an instant hit among the public and made the company a household name in America. The success of these products led to diversification of other products and to the establishment of the company’s first departmental store in New York.
Within a short span of fifteen years, the Estee Lauder Corporation expanded rapidly within America and the company soon ventured into men’s products. A major development of the company came when the popularity of the company’s products found its way into a famous departmental store in London – Harrods. Within a few years, the company established its first international office in Hong Kong.
When William Lauder joined the company in 1986, he was determined to consolidate and expand the Estee Lauder Corporation’s presence in the international arena. At the time, he was responsible for only nine premium products but his fiercely competitive attitude, exceptional business acumen and innovative strategies made them instant best sellers in global market.
Motivational, entrepreneurial and leadership skills of William Lauder become apparent during the implementation of successful marketing strategy of a concept of a store within a store. This strategic plan helped him to attract the best of his employees and changed the concept of marketing in the cosmetic industry. Moreover, the customers appreciated William Lauder’s personal touch to the digital activities of company and made the company’s products available at their doorsteps. He also played a pivotal role in the retail and distributional channels of the company. This increased the brand image of the Estee Lauder Corporation and enhanced the company’s name in America and abroad.