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Reviewing Nike and Home Depot's mission statements
An effective mission statement is 1 which clearly define who its target audience or buyers is and what services and products the organization intends to provide (Caruthers, 2013). Moreover, it need to give clear recommendations, principles and procedures for day-to-day operations of the organization entity. Consequently, the House Depot’s and Nike’s mission statement are successful with regards to clarity and precise definition of what merchandise and solutions they supply to their customers. Therefore, Nike’s mission statement meets the criteria outlined on the mission statements article as it defines clearly its intended solutions to their target audience, to inspire and innovate each athlete in the globe (Carbasho, 2010).
Moreover, an powerful mission statement must concentrate more on satisfying the needs of its clients rather than becoming focused on the solution (Wallace, 2012). This is since, just like technologies, goods as well have a tendency to grow to be outdated more than a particular period of time, but the consumer wants may possibly last forever. As a result, a marketplace oriented mission statement of the any organization need to define the business entity in terms of satisfying simple consumer’s demands (Caruthers, 2013). Therefore, the Property Depot’s mission statement meets the common mission statement evaluation criteria as it explains the customer needs and tries to satisfy them. The mission statement’s concentrate in providing the highest level of service and the broadest choice of goods intends to satisfy the demands of their buyers.
Also, the provision of competitive costs and carrying out the organization operations guided by the Property Depot’s core values such as provision of outstanding consumer service and taking care of and respecting all folks is driven at satisfying customer demands (The home depot: Annual report, 2014). Similarly, Nike’ mission statements focuses primarily on the requirements of their target audience, to guarantee that each and every athlete in the world is inspired (Carbasho, 2010).
An successful mission statement ought to be specific, short and sharply focused, and as a result, vague mission statements lacks resonance and meaningful objective (Caruthers, 2013). Consequently, generic mission statements are most likely not to be remembered and usually dismissed as also complex and hence posing issues to comprehend. Nonetheless, Nike’s mission statement meets the criteria as it is quick, focused, memorable and can be easily understood. On the contrary, the Residence Depot’s mission statement is rather longer as it includes particular workable suggestions. However, it is a precise statement of Residence Depot’s objective and therefore simply memorable and comprehensible.
The mission statement of the organization need to be based on the distinctive competencies of the organization (Wallace, 2012). A distinctive core competency is the comparatively superior resources of the organization that the business performs nicely in comparison to its competitors. For that reason, an effective mission statement should stay focused on particular traits concerning the item quality, buyer service and target market place segments (Caruthers, 2013). For instance, Nike’s mission statement is driven at inspiring and innovating of athletes, therefore its distinctive core competency is inspiration and innovation of its customers. On the other hand, the distinctive competency of Residence Depot’s mission statement is defined by its core values.
Additionally, an successful mission statement must be in a position to tell “who” its target audience are (Caruthers, 2013). A enterprise entity ought to define the sort of marketplace segment it wishes to serve and consequently its target group audience. Basically, customer groups are important since they indicate the market segment to be served, the geographical domain to be covered and the kind of consumers the organization is going soon after. As a result, unlike the Residence Depot’s mission statement which fails to tell clearly who their customers are as it is more common, the Nike’s mission statement is precise and unambiguous with regards to defining the industry segment and target groups it wishes to serve. Nike wishes to serve every single athlete in the world (Carbasho, 2010).
A suitable mission statement should be able to explain how the organization intends to serve its consumers so as to make sure that it satisfies their demands (Wallace, 2012). As a result, via its mission statement, an organization need to define clearly the indicates and technologies it will adopt so as to serve the target industry segment and consequently satisfy the consumer’s demands (Caruthers, 2013). As a result, an successful mission statement incorporates who, what and how the organization will be perceived and act far more consumer and market place-oriented.
Nevertheless, the mission statements of both the Property Depot and Nike have proved to be relevant and meets the mission statement evaluation criteria in terms of explaining how the respective firms intends to serve its clients, as well as satisfying customer needs. Nike serves and guarantees satisfactory of the requirements of their target group audience by inspiring and innovating them (Carbasho, 2010). On the contrary, Property Depot ensures to serve their clients appropriately and satisfy their wants by providing of superior services and the broadest selection of a wide range of goods at the most competitive costs. Also, the company’s basic principles and values contributes in guaranteeing satisfactory on customer requirements.
In conclusion, both the Home Depot and Nike’s mission statements have meet numerous elements of normal mission statement evaluation criteria. Each mission statements are realistic, precise and effortlessly understood, sharply focused and memorable, demonstrates distinctive core competencies and explains how both businesses will serve and as well as attempt to satisfy customer wants. Nonetheless, both statements failed to say how the firm desires to be remembered. Moreover, as opposed to Nike, Property Depot’s mission statement failed to categorically inform who its buyers are. Nevertheless, both statements motivate and inspires employee commitment and therefore successful.
Type: Free Essay Example
Level: Business School
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