The Mission Statement Of New Balance

1762 WordsDec 14, 20148 Pages
Introduction: “Demonstrating responsible leadership, we build global brands that athletes are proud to wear, associates are proud to create and communities are proud to host” (Vesela, 2010, p. 1). The mission statement of New Balance not only describes the goals of the company but also describes the reason for existence. New Balance is a producer of athletic shoes with a small diversification percentage in apparel and accessories (Vesela, 2010, p. 3). New Balance was founded in 1906 by a man names William J. Riley (Vesela, 2010, p. 2). As most new companies, New Balance was small and developed slowly. The first running shoe was produced in 1925 and by the 1940s New Balance was creating custom shoes for athletes of all sports. The largest growth step came in 1960 when New Balance began mass producing running shows (Vesela, 2010, p. 2). With quality products and strong campaigns, New Balance became a main athletic shoe wear competitor. While other competitors take the lead in athletic shoes, New Balance does not want to remain a follower but become a leader in the production and marketing process of athletic shoes (Vesela, 2010, p. 3). With a quality product, New Balance needs to look for new strategies to create brand awareness while focusing on key internal changes. These two elements can move New Balance from a follower position to a main leader and competitor as an international company creating athletic shoes. Strengths and Weaknesses: As New Balance focuses on
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