WeWork Mission, Vision Statement & Core Value; WeWork is a privately held company that works within the commercial real estate industry. They offer adaptable shared workspaces to other businesses and technology startups. Despite being relatively new, the market has high expectations for this idea. They provide cheap office space with a long-term lease agreement. Recommended: Adobe Mission, Vision Statement & Core Value 2023
WeWork has grown from a startup to a 750-million-dollar business in just ten years. Although it began in New York City, the Now WeWork network has spread across the globe. They operate in 127 different cities across 33 different countries.
|Established in||2010, New York, United States|
|Founder||Adam Neumann, Miguel McKelvey|
WeWork describes itself as a provider of adaptable solutions. They aim to empower the workplace by providing a space that is safety-focused and has unmatched community experience.
How WeWork Operates
The WeWork Company makes money by engaging in rent arbitrage. WeWork rents out buildings to landlords renovate them into attractive offices and then charges its customers twice as much as the landlords receive. By placing more people in each location, the goal is achieved. WeWork promoted itself as a hub for new economic commercial activity.
It offers facilities and office spaces for small businesses and independent contractors. People can reserve a shared office space for as little as $190 per month, or they can sign up for an on-demand membership that starts at $45 per month (WeWork, 2019). Other advantages of renting space at WeWork include access to a global network, fast Internet, private phone booths, front desk assistance, unique common areas, business printers, and micro-roasted coffee, among others.
Because of the reasonable prices provided to the WeWork communities, its membership has grown both locally and internationally. The WeWork Company started growing internationally in 2014 when offices in London and Tel Aviv were opened. By 2016, they also had offices in Shanghai (Neumann, 2019). In February 2018, the company had 200,000 members, up 54% over the previous nine months.
Additionally, WeWork, which now has more than 500 locations worldwide, adds between 500,000 and 1,000,000 square feet of new office space each month, according to CBInsights (2019). WeWork Company collaborated with businesses like Factual, FieldLens, and Case Inc. to help find new locations and transform the rented spaces into offices that are suitable for WeWork’s business model.
WeWork Mission Statement
WeWork Mission Statement is, “Empowering tomorrow’s world at work.”
WeWork Vision Statement
WeWork’s vision is to create environments where people and companies come together and do their best work. The company was founded in 2010 with the aim of providing a better day at work for less, and its mission is to elevate the world’s consciousness. WeWork’s mission statement is “Create a world where people work to make a life, not just a living”.
WeWork aims to reimagine how the workplace can empower people to be impactful and fulfilled. The company provides flexible solutions that are inspiring and safety-focused. WeWork’s marketing strategy focuses on creating open office spaces that are more of a community. The company emphasizes the importance of personal fulfilment, not just working to earn a living.
WeWork business model not only provides a workspace for startups, but it also helps in fostering work-life balance. The WeWork business values have made it a successful business with just a few years of operations. The values of WeWork as they appear on their website are:
- Inspired: We do what we love and are connected to something greater than ourselves.
- Entrepreneurial: We are creators, leaders, and self-starters. We try new things, we challenge convention, and we’re not afraid to fail.
- Authentic: We are genuine in our brand, mission, and values. We’re not perfect, and we don’t pretend to be. We are always honest and as transparent as we can be.
- Tenacious: We never settle. We get shit done, and we get it done well. Be persistent and knock down walls–literally if you have to. You have our permission. WeWork Mission
- Grateful: We are thankful for each other, our members, and to be part of this movement. We don’t take success for granted. We’re happy to be alive.
- Together: We are in this together. This is a team effort. We always look out for one another. We have empathy, we know we’re all human, and know we can’t do any of this alone.