Reviewing and evaluating Nike and Home Depot's mission statement

A mission statement is a brief statement that highlights the purpose, identity, and scope of the organization’s operations, as nicely as the kind of product and service the organization, gives to its principal clients and by extension to the other various industry segmentation at large (Caruthers, 2013). A mission statement entails a short description of an organization’s basic matters such as values, vision, philosophies and the competitive positive aspects of the business. Therefore, the goal of the mission statement of any business entity is to concentrate and direct the organization’s vision and communicate mainly to its target audience to give a shared understanding of the intended path of the organization (Abraham, 2012). Consequently, this paper seeks to review and evaluate the Home Depot’s and Nike’s mission statements.

An powerful mission statement is 1 which define who its target audience or buyers are and what solutions and goods the organization intends to give (Caruthers, 2013). In addition, it ought to give clear guidelines, principles, and procedures for day-to-day operations of the company entity. Consequently, the Property Depot’s and Nike’s mission statement are effective with regards to clarity and precise definition of what products and solutions they give to their buyers. As a result, Nike’s mission statement meets the criteria outlined on the mission statements article as it defines its intended solutions to their target audience, to inspire and innovate every athlete in the globe (Carbasho, 2010).

Also, the mission statement of the organization must be distinctive in nature relating to the proficiencies employed when carrying out different enterprise operations and activities of the business (Abraham, 2012). A distinctive core competency is the comparatively superior sources of the organization that the business performs well in comparison to its competitors. For that reason, an efficient mission statement should keep focused on specific traits regarding the solution good quality, buyer service and target market segments (Caruthers, 2013). For instance, Nike’s mission statement is driven by inspiring and innovating of athletes. Therefore its distinctive core competency is inspiration and innovation of its clients. On the other hand, the distinctive competency of Property Depot’s mission statement is defined by its core values.

Furthermore, a mission statement ought to be particular, quick and sharply focused, and as a result, vague mission statements lack resonance and meaningful purpose (Caruthers, 2013). Consequently, generic mission statements are most likely not to be remembered and often dismissed as also complicated and therefore posing issues to comprehend. Nonetheless, Nike’s mission statement meets the criteria as it is quick, focused, memorable and can be very easily understood. On the contrary, the Property Depot’s mission statement is rather extended as it contains particular, workable suggestions. However, it’s a precise statement of Home Depot’s purpose and hence simply memorable and comprehensible.

Additionally, an acceptable mission statement ought to be defined in terms of its efficiency in meeting the demands of its customers rather than getting solution-oriented (Abraham, 2012). Thus, it must concentrate a lot more on guaranteeing satisfactory of customer wants rather than focusing a lot more on the product or service. This is simply because, just like technologies, products tend to become outdated more than a particular period, but the consumer wants might last forever. As a outcome, a industry-oriented mission statement of any organization must define the business entity in terms of satisfying primary consumer’s wants (Caruthers, 2013). Hence, the House Depot’s mission statement meets the standard mission statement evaluation criteria as it explains the customer requirements 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 demands of their consumers.

Additionally, the provision of competitive rates and carrying out the organization operations guided by the Home Depot’s core values such as the provision of outstanding client service and taking care of and respecting all men and women are driven at satisfying buyer wants (The home depot: Annual report, 2014). Similarly, Nike’ mission statement emphasizes primarily on the needs of their target audience, to make sure that each athlete in the world is inspired (Carbasho, 2010).

Moreover, an powerful mission statement have to be able to tell “who” its target audience is (Caruthers, 2013). A organization entity ought to define the variety of market segment it wishes to serve and consequently its target group audience. Basically, client groups are substantial since they indicate the industry segment to be served, the geographical domain to be covered and the type of consumers the organization is going after. Therefore, unlike the House Depot’s mission statement which fails to tell clearly who their consumers are as it is much more common, Nike’s mission statement is precise and unambiguous with regards to defining the market place segment and target groups it wishes to serve. Nike desires to serve each athlete in the globe (Carbasho, 2010).

A suitable mission statement should provide clarity with regards to how the organization intends to offer you goods and services to its customers so as to meet their demands (Abraham, 2012). Consequently, by means of its mission statement, an organization need to define the implies and technologies it will adopt to serve the target market segment and consequently satisfy the consumer’s demands (Caruthers, 2013). Hence, an powerful mission statement incorporates who, what and how the business will be perceived and act more consumer and marketplace-oriented.

Nevertheless, the mission statements of both the Property Depot and Nike have proved to be relevant and meets the mission statement evaluation criteria concerning explaining how the respective firms intend to serve its buyers, as effectively as satisfying customer needs. Nike hopes to serve and ensures satisfactory of the wants of their target group audience by inspiring and innovating them (Carbasho, 2010). On the contrary, Residence Depot desires to serve their buyers appropriately and satisfy their wants by supplying superior solutions and the broadest choice of a wide variety of goods at the most competitive rates. Also, the company’s basic principles and values contribute to making certain satisfactory on customer requirements.

In conclusion, both the Home Depot and Nike’s mission statements have met many elements of normal mission statement evaluation criteria. Each mission statements are realistic, precise and very easily understood, sharply focused and memorable demonstrates distinctive core competencies and explains how both companies will serve and as properly as try to satisfy consumer wants. Nonetheless, each statements failed to say how the firm desires to be remembered. Furthermore, unlike Nike, House Depot’s mission statement is not categorical in terms of who its principal buyers are. Even so, both statements motivate and inspires employee commitment and hence efficient.