Management Question

Identify a real-world company (business or otherwise)

Pangaia

1. write down its official mission and vision statements (i.e., those on the official websites)

Mission & Vision

PANGAIA is a direct-to-consumer materials science company bringing breakthrough textile innovations and patents into the world through everyday lifestyle products. Every technology we work with aims to solve an environmental problem of the fashion/apparel & nature industry.

We hope to drive these solutions further by making technologies and materials available to companies across different industries. By introducing these innovations, we design materials, products and experiences for everyday and everyone.

1. evaluate the effectiveness (of the mission and vision statements) based on what you learned in class about mission and vision statements

I think their mission statement is very clear in what they want to achieve. They want to incorporate science to better our environment while providing everyday lifestyle products. It is clear they want to give customers cutting edge technology materials that they have patented and are able to help the environment at the same time thus making their mission statement product orientated. This is because they are focusing on making the best and environmentally friendly products consumers can wear.

Their vision is very clear as well on how they want to affect other industries on how they operate as a business. It clearly shows what type of culture is within this company and what sort of values they uphold. While I think parts of both statements are quite repeated I still like them since that the mission is more the short run towards customers and how the vision is how these new breakthroughs in sciences can help the whole world.

(c) describe its business model (using the business-model triangle we discussed in class)

What How Why Who

Pangaia business model is pretty clear, they want to be able to provide everyday lifestyle products to consumers that are backed by science to help the environment at the same time. Their value is these patents and breakthroughs using new technologies that benefits both consumer and environment. They target anyone who wants to wear simple everyday lifestyle gear so it is to the mass market. They have a very large community helping a large range of environmental issues as well as having philanthropy. They use great marketing to allow customers to be aware of their products but more importantly what types of breakthroughs they have made with science to be able to further develop their products. This allows them to sell their products at a medium price range and able to justify for it. They are able to use their R&D and sell their products to many consumers.

this is one.

Chegg’s mission statement from their website is: “Our mission is to help every student achieve their best, in school and beyond. We strive to improve the overall return on investment in education by helping students learn more in less time and at a lower cost. No one cares more about students and their future than Chegg.” While their vision being: “We strive to improve the overall return on investment in education by helping students learn more in less time and at a lower cost.” As you can tell their mission and their vision statements are very similar and both really get at the purpose of their company- to improve overall return on educational investment. When evaluating the effectiveness of the mission statement with the 3 key critieria purpose, scope, and stakeholders- Chegg’s mission statement addresses their purpose of why they exist (to improve overall return on educational investment and help students), but they lack the scope and addressing what exactly they do to accomplish this purpose. Their scope could be to help students learn in less time and at a lower cost, but they are lacking specific examples. They address their stakeholder of students are who they are trying to help. Their website goes into more details about their employees, the company’s values and more but their actual mission statement could be a little longer to address what exactly do they do to achieve their mission and vision.

Chegg’s business model:

1) Who- they target students for their customers. Their website says from high school to college and into their career.

2) What – the company offers services primarily online which is very convenient and also at a great price. They save the students money on required material and resources online.

3) How- they offer textbook rentals and purchases at competitive prices. They also offer course materials online through their monthly subscription such as textbook solutions, practice problems and study help.

4) Why- Chegg is offering these services to try to help students do the best they can in school at a cheaper price. Their main “why” is to improve the overall return on investment in education by helping students learn in less time and at a lower cost. They are generating value but being a resource for students at an affordable price and conveniently online.