preview

Strategic Statements : Nike, And, Apparel, Equipment, Accessories And Accessories

Good Essays

Introduction
The present time is dominated by changing customer behaviours, different wants and needs and a fast evolving world. This is a challenge for current businesses. They need to adopt to quick changes, confront current business processes and bring new innovative products on the market. In order to keep the company on course successful businesses establish a mission, clarify values and identify a preferred vision.
But what value is added to to the company, for the employees and for the customer by establishing strategic statements? This essay will discuss this question critically with supporting references. The company which will be used as an example is Nike, a company involved in the development, design, manufacturing, marketing …show more content…

Clarity about its values is a key to success. Nike provides this clarity in eleven maxims which will be stated later. Through those maxims Nike creates value for its stakeholders to express what the company stands for.
With the core values set, the mission and vision statement of the company can be built on top of it. The key value created by strategic statements are:
• Brings people together, since they share common values
• Helps in making decision with a guideline to reefer to
• Business strategies can derive from already set goals and objectives
• Challenges the easy way in order to drive innovation and follow the vision
It is proven, that in times of stress employees with a reason of their work are more successful than people without. The understanding of the mission helps teams to focus and to bear challenges which are obstructing the successful implementation of the company’s vision which is pointed out by Scott, Jaffe & Tobe (1993). A clear mission lets people know what is important for them and the company and they can focus on fulfilling their tasks rather then being reactive.
Evaluation of the organization’s various strategy statements
In the second part of the essay criteria for evaluating strategy statements will be described and Nikes mission / vision statement and maxims will be critically valued.
Criteria for evaluation
Besides the definition for a mission and vision statement, developed in the tutorial, three principals

Get Access