Mission Statements: Home Depot and Nike Compared

Introduction

A mission and vision statement serves as the foundation for many companies' strategic plans. However, not all companies even have a mission statement. In fact, one survey found that out of one hundred CEOs, sixty percent had no mission statement and eight percent had no statement of values (Welch & Welch, 2008). Many businesses 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 for communicating both internally and externally. This analysis examines two mission statements—one from Home Depot and one from Nike—to determine how these statements represent their respective organizations.

The Home Depot operates in the home improvement business with the following mission: "We are 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." The company is values-driven and operates according to eight core values: excellent customer service, taking care of employees, giving back, doing the right thing, creating shareholder value, respect for all people, entrepreneurial spirit, and building strong relationships.

Home Depot's Mission Statement

Home Depot's approach to its mission statement is fairly broad and includes mention of service, selection, and price. This gives consumers a general sense of how the business operates in the home improvement industry and how it satisfies customer needs through offering a large selection at competitive prices. The statement does not explicitly state the target market but implies it includes homeowners interested in improving their properties.

The mission statement is designed to be values-driven and lists eight values that guide company operations. This approach is clear and simple while remaining easy to understand. However, it is not particularly motivational or inspiring. The Home Depot mission statement is also not especially memorable, relying instead on comprehensive operational detail and explicit value alignment.

Nike's mission statement reads: "Our mission is to bring inspiration and innovation to every athlete in the world."

Nike's Mission Statement

Nike takes a markedly different approach than Home Depot. Its statement is much shorter, less specific, and more visionary than descriptive. The vagueness is intentional, as the corporation engages in many different product lines and an expansive product mix. However, the statement includes a clear athlete focus, and Nike's core competencies are all centered on athletics. The mission statement is focused, simple, and memorable.

Nike's mission statement is distinctly inspirational, deliberately including the descriptive words "inspiration" and "innovation." The use of "every athlete" is particularly noteworthy—it represents an aggressive target market. This framing also serves as a source of organizational inspiration. By committing to inspire every athlete, the company implicitly justifies maintaining a broad product mix that is innovative across every niche in which it operates.

Home Depot and Nike employ fundamentally different mission statement strategies. Home Depot's approach is comprehensive and values-driven, emphasizing operational details such as service level, product selection, and price competitiveness. This transparency about how the company operates makes the statement useful for internal alignment and external expectation-setting but sacrifices inspirational power and memorability. In contrast, Nike's mission prioritizes emotional resonance and aspiration, using language that motivates both employees and customers. The brevity and focus on inspiration make it far more memorable, though it provides less concrete operational guidance.