Company overview
Lululemon is based in North America with most of its branches in Canada. Other than North America, the entity has stores in Australia, Japan and New Zealand. Despite the entity not having an elaborate vision statement, there are a lot of motivating mottoes in manifesto. This implies that the company wants to provide its customers with the best products and services in relation to its sector.
This is an ambitious statement which will require the entity to research constantly on its customers’ needs and ways to meet their requirements. The mission is a collection of ideologies which seek to improve the health of its clients[1].
Stakeholders
Lululemon is a business entity which operates in the sports sector. The company designs sportswear, which is a lucrative section of the economy. Such an entity requires elaborate communication to ensure that all the stakeholders are aware of its undertakings. Lululemon’s stakeholders include its employees, shareholders, rivals, the government and its clientele.
Communicating with these stakeholders will utilize various channels. Thus, the entity requires an elaborate communication strategy. Stakeholders of an organization contribute significantly to the fortunes of the entity. Therefore, it is imperative to ensure that they receive communications in time to enhance their decision-making[2].
Shareholders
The entity’s shareholders are satisfied with value of their shares which denote their investment in the entity. Communication to the shareholders will entail emails and advertisements on communication channels. The advertisements will inform them of meetings and the value of their shares.
The executive management of Lululemon has the core objective of managing the value of the shares. Hence, they are vested with the duty of making communications to shareholders. Failure to communicate to the shareholders would results in decrease in investors’ confidence which would erode the capital gains realized so far.
Employees are a vital component of the entity. They interact directly with the clientele. Hence, they are the face of Lululemon. Ensuring that employees are satisfied and motivated is crucial. Lululemon managers constantly keep their clients updated in regard to any change in the managerial policies. Managerial briefing is the key means of communicating with employees[3].
Clients
The entity also has an elaborate means of communication with the clientele. This is very crucial since it would impact on the levels of their sales. Communications with clients entail advertisements, e-mails and brochures. The advertisements are an intricate means by which the entity can relay messages on its product to their clientele.
If Lululemon seeks to launch a product, it will create awareness prior to the launch. This will ensure that the clients buy products in massive numbers. Failure to communicate with such stakeholders would results in dwindling revenues for the entity which would culminate in reduced profitability. Most advertisements appear on the entity’s website, newspapers and television.
These channel captures most of the clientele. Lululemon has altered its communication strategy with time owing to the increased use of internet based communication. However, the entity has always been conservative in relation to their communications with their employees since the messages may contain confidential information[4].
Conclusion
Based on the above, Lululemon utilizes effective tools of communication. The tools ensure that stakeholdersreceive message in an appropriate manner which does not infringe on their privacy. Overall, communication is an integral aspect of an entity. It ensures that all its stakeholders receive adequate and timely communications of the undertakings in the company.
Works Cited
Chip. The Lululemon Vision. Web.
Lululemon Athletica Inc. Annual Report 2012, FORM 10-K. Web.
Lululemon Athletica Inc. LululemonAthletica: Our Company History. Web.
Footnotes
- Lululemon Athletica Inc. LululemonAthletica: Our Company History. Web.
- Lululemon Athletica Inc. Annual Report 2012, FORM 10-K. Web.
- Lululemon Athletica Inc. Annual Report 2012, FORM 10-K. Web.
- Chip. The Lululemon Vision. Web.