Home Depot's Mission Statement is focused on satisfying the needs of the customer rather than on the product. In this respect, the mission statement meets the criteria of expressing concern towards satisfying customer needs. The mission statement focuses on explaining the company's commitment towards ensuring its customers can obtain quality services and a broad pool from which they can select their product of choice from a wide range of products at very competitive prices. Also, the mission statement is clear about the commitment of the company toward valuing excellent customer services. However, the mission fails to identify and describe the customers of the company. In the mission statement, there is a clear explanation concerning the types and nature of customer needs that the company is trying to satisfy. In that respect, the needs include high-quality products and services, competitive prices and excellent services while the employees of the company are dealing with customers. There is a clear explanation from the mission statement regarding the manner in which the company intends to serve its customers. In this case, the company expresses its intention to serve its customers through the delivery of services that meet the required quality. Nonetheless, there are no further explanations concerning some finer details on how the high quality is achievable (Sidhu, 2013).
This mission statement extensively fits the present market environment concerning its focus on meeting the customers' expectations. Further, the mission statement is based on the core competencies of the company in the sense that the company has the requisite capacity regarding human resources and expertise to deliver the elements promised to its customers in this particular mission statement. To a substantial extent, the mission statement for this company motivates and inspires the commitment of its employees. This is clearly indicated in the fact that it is driven by specific core values which include respect for all people, doing the right thing and taking care of its people among others. The mission statement is realistic because it contains elements that are attainable to considering the capacity and capability of the Home Depot Company. It is, however, noteworthy that the mission fails to meet the criteria for being specific, short, sharply focused, and memorable. On the contrary, it is considerably long with several explanations and details which interferes which its ability to be focus or memorable. Despite being long and detailed, the mission for this company is characterized by clarity and ease of understanding. However, the statement fails to state the manner in which the company would like to be remembered. It is essential for a mission statement to be unique in the sense that it focuses on striving to make the company stand out and achieve excellence by doing things differently. A unique mission statement will also be in a position to become inspirational and memorable (Smith, 2014).
Delegate your assignment to our experts and they will do the rest.
Evaluation of Nike’s Mission Statement
Nike's mission statement focuses on satisfying customer needs rather than on the product. This is because it talks about bringing inspiration and innovation to every athlete around the world who forms part of the customers. Moreover, the statement does not focus on the product since it does not mention any product despite the Nike Company being in charge of the production of several products for athletes. Also, the mission statement is clear on the identification and description of its customers who are the athlete across the world. The mission statement fails to meet the criteria in explaining the kind of customer needs that it is trying to satisfy. However, the statement gives some details regarding the manner in which the company will serve its customers by mentioning bring about innovation and inspiration. It is worth noting that the company does not give a clear illustration or explanation on ways through which it intends to serve its customers. It is not clear whether the mission statement fits the current market environment since it does not contain any details with the existing market condition.
The mission statement is based on the two core competencies of the Nike Company. In his respect, the mission finds its basis on the company's core competencies which include using effective strategies of marketing and innovative design of its products to enhance benefits and value to its customers. Furthermore, the mission statement is motivating and inspires employee commitment since it talks about bringing inspiration. To some extent, the mission statement for this company sounds unrealistic considering that it mentions about taking innovation to every athlete in the world yet it may not be in a position to access or reach all athletes in every part of the world. The mission statement of this company effectively meets the criteria of being specific, short, sharply focused, and memorable. This is because the statement comprises of one sentence without a lot of wording and details that could have interfered with its focus. Additionally, the statement is clear, straightforward and can be easily understood. However, the mission statement fails in meeting the criteria for stating the manner in which the Nike Company would want to be remembered. According to Dharmadasa (2010), an ideal mission statement would be expected to be specific, motivational, achievable and realistic. The mission statement of a company should also meet the criteria for being succinct without trying to explore most of the details that can be found and explained in the company's strategic plan.
References
Dharmadasa, P. (2010). Mission statements and company performance revisited. SSRN
Electronic Journal . doi: 10.2139/ssrn.1667948
Sidhu, J. (2013). Mission Statements: European Management Journal , 21 (4), 439-446. doi:
10.1016/s0263-2373(03)00072-0
Smith, P. (2014). The mission of rhetoric and the rhetoric of mission statements. ADE
Bulletin , 31-36. doi: 10.1632/ade.121.31
