Evaluating Mission Statements Marketing Assignment (Essay Sample)

Evaluating Mission Statements
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Introduction
A mission statement is one sentence, concise, clear statement that tells what the company is, what it does, for whom and where. The statement should communicate the essence of the company or business towards its stakeholders and the general public. The key parts of a good mission statement include the purpose statement, the business statement, and the company's values. This paper seeks to evaluate two different mission statements, by critically analyzing whether they meet the above threshold so as to be considered as good, strong and sensible mission statements.
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 and building strong relationships
Evaluation
Home Depot's mission statement focusses on satisfying the immediate customer needs by revising the market prices, broadening the available product and also giving the highest possible level of service. Evidently, achieving these goals will improve the customer experience hence the statement can be said to focus on the customer needs rather than marketing the product. From the mission statement, it is clear that the target customers are the general public with households whereby the business helps in improving their conditions. Customers addressed by this business are in need of lower competitive prices, more diversified products and efficiency of service, and that is what the business tries to accomplish according to the mission statement.
In the above mission statement, it is clearly outlined that the company will serve its customers diligently by giving them excellent services such as taking absolute care of its customers, giving back to the society whenever viable and also creating shareholder value. With such commitment and a sense of purpose, this mission statement is perfect for the Home Improvement market environment. Essentially, Home Depot is a home improvement company and hence it has skills, knowhow and adequate experience on that field. It is, therefore, feasible to believe that this mission statement fits right within the competent knowhow of the company. Also, the purpose statement which is "to provide the highest level of service, the broadest selection of products, and the most competitive prices" squarely addresses the needs on the ground.
A powerful, practical and sensible mission statement will motivate the employees whereby they will be committed to living by the mission statement in the course of their duties. This means that the employees will always strive towards achieving the standards benchmarked on the mission statement. Home Depot's mission statement is one of a kind and hence it will with no doubt motivate and encourage the company's employees. Undoubtedly, the purpose and the values spelled out on this mission statement are achievable and hence the statement is not only realistic but also very practical (Cochran et al., 2010).
Finally, a good mission statement should be short, specific, memorable and sharply focused towards the company goals. On this aspect, we can argue that Home Depot's mission statements are somehow on the bar since it is a little bit long and hence memorizing it could be challenging. However, it is very specific with a sharp focus on the purpose and goals of the company. With a good choice of words, this mission statement can clearly be understood by all members of the society. Undoubtedly, the company will be remembered if the values outlined in the mission statements are achieved whereby there will be customer ties as a result of wide networks. Shareholders will also carry the company's legacy along with them (David, 2014).
Nike's Mission Statement
Our mission is to bring inspiration and innovation to every athlete in the world.
Evaluation
Evidently, this mission statement is focused on addressing the customer needs since according to it, the company will constantly be innovative in making their ...