Describes the purpose of the organization – Microeconomics
The mission statement describes the purpose of the organization (i.e., why the business exists). As outlined in the Mission Statements article, here are some things to consider when evaluating a mission statement:
Is the mission statement focused on satisfying customer needs rather than on the product?
Does the mission statement tell who the company’s customers are?
Does the mission statement explain what customer needs the company is trying to satisfy?
Does the mission statement explain how the company will serve its customers?
Does the mission statement fit the current market environment?
Is the mission statement based on the company’s core competencies?
Is the mission statement motivating and does it inspire employee commitment?
Is the mission statement realistic?
Is the mission statement specific, short, sharply focused, and memorable?
Is the mission statement clear and easily understood?
Does the mission statement say how the company wants to be remembered?
Review the following mission statements. Evaluate each mission statement based on the above criteria and explain how the mission statements meet or failed to meet those criteria.
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
Building strong relationships
