No matter the business or the organization, they all have two things in common; people that work inside the organization and customers to provide a service for. One of the most important things an organization can and must do is have an effective mission statement. The purpose of this paper is to evaluate the mission statements of Home Depot, Inc. and Nike, Inc. The first step is to give a brief history of each company and the clients they serve. Next, review each company’s mission statement and evaluate them based on a few criterions. For example, the relevance of the mission statement to the organization’s customers, their needs, is it realistic, is it clear and easily understood, etc. Before the examination of organizational mission statements can begin, a history of Home Depot, then Nike, is required.
Constantly growing firm with increasing revenue (15.5% in 2005), net profit, total assets and high returns on equity (5.1% in 2005)
Mission statement: “ To be a leader in merchandising and distribution of food, personal care items, pharmacy, seasonal merchandise and related products & services."
Their short term objectives would be increasing sales. The vision would centre around employee co-ownership with the happiness of partners as the ultimate purpose. The mission is the satisfaction of employees. Finally, the value would be to represent the best possible choice, as a result of providing the best quality, trust and customer service.
the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.
The company’s brand recognition is visible globally. It also possesses strong capital resources and has exhibited positive results to its shareholders in the past.
The mission for its customers is to promise. Managers firmly believe that sellers should have a good relationship with their customers, and always put their customers in the first place. The mission for its stores is to have sense of home. Hopefully, stores can help customers get out of their busy world, and relax for a moment with friends. The mission for its neighborhood is to lead with responsibility. Having a good connection with the neighbors benefits the partners, the customers, and the community. The mission for its shareholders is meeting profitable. The success of a company is due to its shareholders. “To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time” (Our Starbucks Mission Statement). One person represents people; one cup represents Starbucks; one neighborhood represents friend. Starbucks brings people a feeling of connection.
The Mission, Vision and Values of a company play a Fundamental role in Strategy Formulation and Strategic planning. We will discuss throughout this assignment, how developing effective mission, vision and values can help shape, develop and guide a firms Strategic choices. They reflect the firm's fundamental core ideology. At the most basic level a mission statement can describe the firms overall purpose for being. It provides an inside to the present business scope and purpose of the firm that is "who we are, what we do, and why we are here". It explains the firm's very reason for existing. It will
David, F. (2013). The Business Vision and Mission. Strategic Management. Pearson Education Retrieved from http://faculty.unlv.edu/amiller/BUS496/david%20_sm14_inppt02.ppt
Our company is a leading consulting firm in the various industries, especially in the technology industry. The members in our team are experts in corporate strategy and have worked with plenty of clients from the software industry to services. We can bring real world experience to the table and provide invaluable prospective regardless of your current stage of business development.
This mission must take into account and balance the present with the uncertain future. It is an important administrative task for a manager’s mission to strive for the company’s full potential. As Drucker states, “What is the business’s theoretical optimum? What prevents us from attaining it? Where are the limiting and restraining factors that hold back the business and deprive it of the full return on its resources and efforts”? (32). Determining and adapting a productive mission requires a manager to be an entrepreneur, a risk taker, and an innovator. A good company mission is adaptable, and will allow the modern business to survive and perform in a new and unpredictable future.