This paper is going to analyze two mission statements. Firstly from Home Depot and the secondly from Nike. Both will be evaluated by 11 different factors (Abraham, 2012). However, let us define first what exactly a mission statement is. A mission statement is the essential part of a business and eventually the key to success or failure (My Strategic Plan, n.d.). A mission statement concentrates on the business goals, how these can be achieved and whether the needs of the customer is considered or not (Leuthesser Kohli, 2015).
Home Depot’s Mission Statement: The Home Depot is in the home improvement business and our goal is to provide the highest level of service, the broadest selection of products, and the most competitive prices. We are a values-driven company and our eight core values include the following:
- Excellent customer service
- Taking care of our people
- Giving back
- Doing the “right” thing
- Creating shareholder value
- Respect for all people
- Entrepreneurial spirit
- Building strong relationships
By reading through the mission’s statement, it is apparent that Home Depot has put a lot of effort and strategy into designing this purpose for their business. They seem to put a lot of emphasis around the customer and the needs of the customers first and only secondly on the products itself. In fact, they do not ever mention their product or service once. By both trying to offer excellent customer service and building strong relationships they show that, they not only consider a customer as a onetime thing, but rather as a long-term investment. Giving back and taking care of their own people both pay off in the end for customers to feel cared for. The mission statement states clearly that they products are targeted to all sorts of people in various ages with one common goal: home improvement. They do not add a gender or age gap to that but simply state – we have help all those that want to build something at home – no matter in which form. In that same sentence they also define what they needs can satisfy – one wants to improve their home. Go to Home Depot they can help.
Home Depot made it clear that they are concentrating on offering the best customer service for their clients, building long-term relationships, as well as taking care of others. They make it their very own mission (at least it seems that way) to put the customer and employees first, before putting the business goals. The mission statement absolutely fits the current market environment. Even though it is changing fast, thorough customer service and a good experience will initially decide whether a customer trusts the brand or not.
To my current knowledge, I would say that the mission statement is based on the company’s core competencies. With their own eight core values, they restrict themselves by providing the best service they can, while caring for the well-being of their employees and other is affected by the business. It seems to me that everyone is treated fairly and all work towards the common goal – success. I find the mission statement very motivating and the more I think about it, it seems like the kind of company one would love to work for or go shopping. It seems trustworthy and that complaints are being taken seriously. Several factors, such as taking care of the employees, doing the right thing, giving back indicate that they value their employees as much as their customers. It is strategically well thought out and realistic to achieve. None of the values seems farfetched or unreachable.
In terms of length, focus or memorable the mission statement is too long for my taste. It does touch on all the important parts but the eight core values are the most important part. They could limit their mission statement to that and it would be a good strategy. I understand the mission statement easily and there is no hidden meaning in any of the core values. I believe Home Depot wants to be remembered as the company that cares for all parties involved – employees, customers, shareholders and possibly even others, which might be affected.
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- Quote paper
- Mia Tanner (Author), 2018, Evaluation mission statements. Nike and Home Depot, Munich, GRIN Verlag, https://www.grin.com/document/455284