Founded on 25 January by Bill Bowerman and Phil Knight, Nike is an American public company that offers sportswear, apparel, sports equipment, and accessories. Currently, the company is globally recognized for offering unique and specialized products highly loved by its customers. Nike's mission and vision statement are great insights for multiple global business leaders and owners. The mission statement outlines the company's short-term goals and the company's actions to deliver these goals. On the other hand, the company's vision statement shows the stakeholders' expectations. Thus, comprehensively analyzing the statement is a fascinating topic of discussion- it will help us identify how the company stands out to be unique. So, let's quickly dive in!
Typically, any company's mission statement shows its short-term intentions and strategies to achieve these goals. Nike's mission statement states that "to bring inspiration and innovation to every athlete in the world."
By splitting this statement down, we can easily identify the company's mission into three major components; bringing motivation, creating new ideas, and giving support to every global athlete. To better understand this statement, let's discuss each of these components and discover what it shows:
Nike has a useful slogan that guides all its operations; "Just Do It." The company aspires and motivates athletes to work an extra mile beyond their constraints and achieve their maximum potential with this simple motive. Also, the company has an effective marketing strategy of using popular sports role models within society to motivate normal individuals. For example, youths are inspired to get into sports and move beyond their boundaries.
Creating New Ideas
Nike continuously makes revolving innovations for all its products to make individuals constantly enhance their workout performance and acquire realizations that they never previously thought they would manage. For example, Nike strengthened humans to finish a marathon race within the shortest duration of 2 hours, a distance that had not been previously completed within such a short time. This challenge raised controversy, with critics saying it had been previously achieved, Nike's research and developers smacked down. Later, the highly innovative and implemental Nike shoes proved the company's significance by helping Kenyan Marathon runner Eliud Kipchoge to finish the marathon within a shorter duration of 1:59:40. Thus, such new ideas are great motivation and inspiration to many sports lovers to take their talents to the next level. All these have been possible through the company's mission.
Assisting Every Global Athlete
Bill Bowerman, Nike's founder, liberated a statement that encourages everyone to be an athlete. The statement says, "if you have a body, you are an athlete." This clearly shows the company's opinion that everyone has the potential to be an athlete, unlike the typical expectation of professional runners and talented individuals. Nike continuously manufactures sports shoes, apparel, and equipment intended for a vast market with this as an insight. Also, the company adopts diversity by producing vast products for athletes depending on their skill set, personal objectives, and body types.
Each company's vision statement shows the stakeholder's future expectations of the company. Also, it illustrates a full picture of the company after achieving its perpetual goals. The Nike vision statement states "to remain the most authentic, connected and distinctive brand." Be aware of the precise application of the term "remain." It shows the company's self-reflection that it has already acquired the status of being the most connected, authentic, and unique brand in the global market of producing sports attires, and its main objective is to maintain the status. Under deep investigation, almost everyone can attest that the company is a top-notch company in the sector. Therefore, Nike's vision statement purports the company to remain at its superior position. From Nike's vision statement, we can learn the following:
Since it was founded, Nike has proved trueness in its services and product offerings. Nike delivers excellent products that meet and exceed its customer's desires when producing products. Its main goal isn't realizing revenue; the company puts insuperable actions to increase the individual potential at each feasible opportunity.
Nike's marketing strategies aim to establish and conserve individual networks between its clients. Over the years, Nike has always been customer-minded and aims to improve individuals' lives. The company has multiple community sectors, making it very relevant and maintaining a positive network in the market.
The journey towards becoming the most-composed company in the industry entails massive investment and challenges, but it has been successful due to Nike's most unique athletic shoes and clothing. It has a unique slogan and logo well-recognized globally. According to the recent 2021 updates, Nike's brand has a top value of $34.6 billion compared to its rival Adidas, which has $16.5 billion. This shows that Nike's uniqueness has taken it to a top rank where other companies in the industry are struggling to be.
Nike has exceptional core values that show how the company accounts to be the most essential, even though the company continuously struggles to become a vast and significant player in the sports sector. Below is a comprehensive analysis of Nike's core values:
Like any other sports team, Nike has confidence in the spirit of solidarity and teamwork. Each team participant is equally valuable to the company, and the personal contributions are highly commended as everybody works towards achieving the set goal.
You may not easily notice it, but Nike heavily invests in environmental activities. The company has continuously recycled plastic bottles to establish continuous footwear in terms of Flyknit techniques.
Nike has built a distinctive and creative global team that contains practicability in making the company's attractive image be realized all over the world. Due to its attractive, diverse initiatives, Nike's products are fascinating to all groups of individuals irrespective of their age, race, a section of society, and athletic backgrounds.
In addition to maintaining the corporation's goals, Nike maintains its track on social accountability. For instance, Nike has multiple promotion and awareness programs for environmental conversation. On the other hand, the company has many other initiatives that match its main perception that sports can transform the world into a better place.
Nike Mission and Vision Statement Analysis Mind Map
To finalize our Nike mission and vision statement analysis, a mind map helps us comprehend the company's strategies and objectives. Thus, the mind map is represented as shown below:
- Bringing motivation
- Creating new ideas
- Assisting every global athlete
- Social accountability
The Nike vision statement is precise, brief, well-composed, and efficiently highlights the company's objective of conserving its place of being the unique top mark in the sportswear industry. Likewise, its mission statement is a distinctive way of bringing motivation and new ideas to athletes. But, although we have not mentioned the unique brands that the company offers, Nike's mission and vision statement are well-intertwined. They show a clearly defined picture of the company's long-term expectations. It can be extremely challenging for any other company to follow in the same footsteps to success as Nike has. Specifically, Nike has contributed significantly to incomparable achievements in all aspects of the valuable sports and athletic industry. However, if you are a business owner aspiring for such notable success, Nike's business strategies and statements illustrate a useful model to imitate.
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