Evaluating Mission Statements

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Business Finance

Description

The mission statement describes the purpose of the organization (i.e., why the business exists). As outlined in the Mission Statements article, here are some things to consider when evaluating a mission statement:

  • Is the mission statement focused on satisfying customer needs rather than on the product?
  • Does the mission statement tell who the company’s customers are?
  • Does the mission statement explain what customer needs the company is trying to satisfy?
  • Does the mission statement explain how the company will serve its customers?
  • Does the mission statement fit the current market environment?
  • Is the mission statement based on the company’s core competencies?
  • Is the mission statement motivating and does it inspire employee commitment?
  • Is the mission statement realistic?
  • Is the mission statement specific, short, sharply focused, and memorable?
  • Is the mission statement clear and easily understood?
  • Does the mission statement say how the company wants to be remembered?

Review the following mission statements. Evaluate each mission statement based on the above criteria and explain how the mission statements meet or failed to meet those criteria.

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

Nike’s Mission Statement
Our mission is to bring inspiration and innovation to every athlete in the world.

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Explanation & Answer

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Running head: MISSION STATEMENTS

Evaluating Mission Statement
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MISSION STATEMENTS

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Home Depot’s Mission Statement
This mission statement is focused on satisfying the customer needs rather than the
product. This is how a mission statement should be like. Customers are the main reason as to
why a business exists and focusing on them makes the company create loyalty among
consumers. For example, it captures the provision of excellent customer service, taking care of
people and respect for all people. To this end, therefore, Home Depot’s mission statement is well
focused on the needs of its consumers. When it comes to telling who the customers are, the
mission statement fails to capture who the consumers for the company product are. This is a
weakness because a mission statement should clearly show who the customers for a company
product are. Also, the mission statement does not show the customer needs which the company is
trying to satisfy. The mission statement only entails the core values of the company but fails to
state categorically what needs of the consumers the organization is trying to meet.
The m...


Anonymous
I was struggling with this subject, and this helped me a ton!

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