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Reviewing and Evaluating Nike and Home Depot's Mission Statement

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Reviewing and Evaluating Nike and Home Depot's Mission Statement essay
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A mission statement is a short statement that highlights the purpose, identity, and scope of the organization’s operations, as well as the kind of product and service the organization, provides to its primary customers and by extension to the other various market segmentation at large (Caruthers, 2013). A mission statement entails a brief description of an organization’s fundamental matters such as values, vision, philosophies and the competitive advantages of the business. Thus, the purpose of the mission statement of any business entity is to focus and direct the organization’s vision and communicate primarily to its target audience to give a shared understanding of the intended direction of the organization (Abraham, 2012). Therefore, this paper seeks to review and evaluate the Home Depot’s and Nike’s mission statements.

An effective mission statement is one which define who its target audience or customers are and what services and products the organization intends to provide (Caruthers, 2013). Additionally, it should give clear guidelines, principles, and procedures for day-to-day operations of the business entity. Consequently, the Home Depot’s and Nike’s mission statement are effective with regards to clarity and precise definition of what products and services they provide to their customers. Thus, Nike’s mission statement meets the criteria outlined on the mission statements article as it defines its intended services to their target audience, to inspire and innovate every athlete in the world (Carbasho, 2010).

Also, the mission statement of the organization must be distinctive in nature regarding the proficiencies employed when carrying out various business operations and activities of the company (Abraham, 2012). A distinctive core competency is the comparatively superior resources of the organization that the business performs well in comparison to its competitors. Therefore, an effective mission statement should stay focused on specific traits regarding the product quality, customer service and target market segments (Caruthers, 2013). For instance, Nike’s mission statement is driven by inspiring and innovating of athletes. Thus its distinctive core competency is inspiration and innovation of its customers. On the other hand, the distinctive competency of Home Depot’s mission statement is defined by its core values.

Moreover, a mission statement ought to be specific, short and sharply focused, and thus, vague mission statements lack resonance and meaningful purpose (Caruthers, 2013). Consequently, generic mission statements are likely not to be remembered and often dismissed as too complex and hence posing difficulties to comprehend. Nonetheless, Nike’s mission statement meets the criteria as it is short, focused, memorable and can be easily understood. On the contrary, the Home Depot’s mission statement is rather long as it contains specific, workable guidelines. However, it’s a precise statement of Home Depot’s purpose and hence easily memorable and comprehensible.

Additionally, an appropriate mission statement should be defined in terms of its efficiency in meeting the demands of its customers rather than being product-oriented (Abraham, 2012). Thus, it should focus more on ensuring satisfactory of customer needs rather than focusing more on the product or service. This is because, just like technologies, products tend to become outdated over a specific period, but the consumer needs may last forever. As a result, a market-oriented mission statement of any organization must define the business entity in terms of satisfying primary consumer’s needs (Caruthers, 2013). Hence, the Home Depot’s mission statement meets the standard mission statement evaluation criteria as it explains the consumer needs and tries to satisfy them. The mission statement focuses on providing the highest level of service and the broadest selection of products intends to meet the needs of their customers.

Additionally, the provision of competitive prices and carrying out the business operations guided by the Home Depot’s core values such as the provision of excellent customer service and taking care of and respecting all people are driven at satisfying customer needs (The home depot: Annual report, 2014). Similarly, Nike’ mission statement emphasizes primarily on the needs of their target audience, to ensure that every athlete in the world is inspired (Carbasho, 2010).

Moreover, an effective mission statement must be able to tell “who” its target audience is (Caruthers, 2013). A business entity should define the type of market segment it wishes to serve and consequently its target group audience. Essentially, customer groups are significant because they indicate the market segment to be served, the geographical domain to be covered and the type of consumers the organization is going after. Therefore, unlike the Home Depot’s mission statement which fails to tell clearly who their customers are as it is more general, Nike’s mission statement is precise and unambiguous with regards to defining the market segment and target groups it wishes to serve. Nike wants to serve every athlete in the world (Carbasho, 2010).

A proper mission statement must provide clarity regarding how the business intends to offer goods and services to its customers so as to meet their demands (Abraham, 2012). Therefore, through its mission statement, an organization must define the means and technology it will adopt to serve the target market segment and consequently satisfy the consumer’s needs (Caruthers, 2013). Thus, an effective mission statement incorporates who, what and how the business will be perceived and act more consumer and market-oriented.

Nevertheless, the mission statements of both the Home Depot and Nike have proved to be relevant and meets the mission statement evaluation criteria regarding explaining how the respective companies intend to serve its customers, as well as satisfying consumer needs. Nike hopes to serve and ensures satisfactory of the needs of their target group audience by inspiring and innovating them (Carbasho, 2010). On the contrary, Home Depot wants to serve their customers appropriately and satisfy their needs by providing superior services and the broadest selection of a wide range of products at the most competitive prices. Also, the company’s fundamental principles and values contribute to ensuring satisfactory on consumer needs.

In conclusion, both the Home Depot and Nike’s mission statements have met several aspects of standard mission statement evaluation criteria. Both mission statements are realistic, precise and easily understood, sharply focused and memorable demonstrates distinctive core competencies and explains how both companies will serve and as well as try to satisfy consumer needs. Nonetheless, both statements failed to say how the company wants to be remembered. Additionally, unlike Nike, Home Depot’s mission statement is not categorical in terms of who its primary customers are. However, both statements motivate and inspires employee commitment and hence efficient.

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Reviewing and Evaluating Nike and Home Depot’s Mission Statement. (2018, December 11). GradesFixer. Retrieved January 28, 2022, from https://gradesfixer.com/free-essay-examples/reviewing-and-evaluating-nike-and-home-depots-mission-statement/
“Reviewing and Evaluating Nike and Home Depot’s Mission Statement.” GradesFixer, 11 Dec. 2018, gradesfixer.com/free-essay-examples/reviewing-and-evaluating-nike-and-home-depots-mission-statement/
Reviewing and Evaluating Nike and Home Depot’s Mission Statement. [online]. Available at: <https://gradesfixer.com/free-essay-examples/reviewing-and-evaluating-nike-and-home-depots-mission-statement/> [Accessed 28 Jan. 2022].
Reviewing and Evaluating Nike and Home Depot’s Mission Statement [Internet]. GradesFixer. 2018 Dec 11 [cited 2022 Jan 28]. Available from: https://gradesfixer.com/free-essay-examples/reviewing-and-evaluating-nike-and-home-depots-mission-statement/
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