Nike, Inc.’s mission statement has evolved over time to accurately represent the company’s business situation. Nike’s vision statement remains a matter of speculation, considering the scarcity of information from the company regarding its corporate vision. A company’s mission statement states the general courses of action for business development, while the vision statement gives a picture of the future condition of the business. In Nike’s case, the corporate mission statement is a prominent guide for strategic formulation. However, the corporate vision statement requires development to suit Nike’s aims and business situation. As a leading producer of sports shoes, apparel and equipment, Nike Inc. must maintain vision and mission statements appropriate to the business and global market.
Nike, Inc.’s vision statement needs development to address what the business represents and wants to strategically achieve in the future. On the other hand, Nike’s mission statement is appropriate for its business situation as a global producer and retailer of athletic shoes, apparel and equipment.
Nike’s Vision Statement
Nike, Inc. has not published an official vision statement. However, the company’s vision statement for its corporate social responsibility (CSR) is a good approximation for its business. This CSR vision is “to help NIKE, Inc. and our consumers thrive in a sustainable economy where people, profit and planet are in balance.” In this vision statement, the following main components address Nike’s business:
- Help Nike, Inc. and our consumers
- Sustainable economy
- People, profit and planet are in balance
Nike’s CSR vision statement includes the company and its consumers as major participants in the desired future goal of sustainability. The corresponding strategic objectives are implied in the “sustainable economy” component of the vision statement. The third component of Nike’s CSR vision statement reinforces sustainability by stating, “people, profit and planet are in balance.” This CSR vision statement shows that, aside from being a manufacturer of athletic shoes and related products, Nike is also concerned with the sustainability and balance needed to ensure that everyone benefits from the business.
Nike’s Mission Statement
Nike Inc.’s official mission statement is “to bring inspiration and innovation to every athlete in the world.” The company furthers that everybody is an athlete, based on Nike founder Bill Bowerman’s statement, “If you have a body, you are an athlete.” This mission statement represents the company’s strategic goal of reaching out to the global sports shoes, apparel and equipment market. The following main components are in Nike’s mission statement:
- Every athlete in the world
As a leading manufacturer of sports shoes, apparel and equipment, Nike Inc. inspires people to adopt a winner mindset, which is covered in the “inspiration” component of the mission statement. The company’s slogan “Just Do It” represents this inspirational goal. Also, Nike’s mission statement emphasizes innovation. This component is applied through the company’s strategy of continuous improvement of products through new technologies. The “every athlete in the world” component indicates that Nike’s mission statement pushes the company to target every consumer around the world. Thus, the company’s athletic shoes are designed to attract and satisfy a wide variety of market segments globally.
Nike Inc.’s Mission Statement & Vision Statement: Analysis & Recommendations
Nike, Inc. lacks a suitable corporate vision statement. However, the company’s vision statement for corporate social responsibility is a good start. This vision statement offers considerable information about Nike’s business activities and strategic objectives. However, it does not address all areas of the business as a whole. Thus, the company needs to develop and publish an appropriate vision statement for the corporation to inform employees and investors about what the entire business aims to become in the future, with reference to the global market for athletic shoes, apparel, and equipment.
Nike’s mission statement adequately outlines the general strategic directions of the business. This mission statement also remains relevant to the current situation of the company. It is expected to continue its relevance even in the years to come, considering that the components “inspiration” and “innovation” are essential for Nike to maintain its competitiveness amid tough global competition. Thus, Nike can keep using its current mission statement to guide its strategies as a global sports shoes, apparel and equipment company.
- About Nike – The official corporate website for Nike, Inc. and its affiliate brands.
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