¶ … mission and vision statement serves as the foundation for many companies strategic plan. However, not all companies even have a mission statement. In fact, one survey found that out of one hundred CEOs that sixty percent had no mission statement and eight percent had no statement of values (Welch & Welch, 2008). There are many businesses that do not believe a formal mission is necessary. However, the mission serves as the first step in the strategic planning process and can be an invaluable tool to communicate both internally and externally. This analysis will look at two mission statements, one from Home Depot and one from Nike to determine how these statements represent their organizations.
Figure 1 Strategic Planning (QuickMBA, n.d.)
Home Depot
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
Home Depot's approach to a mission...
Strategic Toolkit: Mission; Vision Statement Strategic Toolkit: Mission and Vision Statements Business "toolkits" ideally contain Mission Statements and Vision Statements, along with other tools. While the Mission Statement is a concise declaration of why a business exists, the Vision Statement is a more elaborate assertion of what the business sees, hears and does to achieve the optimum outcome. The Coca-Cola Company's Statements vs. Wal-Mart's Statements reveal wordy, imprecise uses of these tools
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