Nike is a renowned publicly traded sportswear, equipment supplier and footwear headquartered in the US that was founded in 1962 and was primarily known as the Blue Ribbon Sports. The company is evident to be a global leader in the designing, manufacturing and production of sportswear and gear with approximately 47 market shares around the world. Besides sportswear, Nike also produces running shoes, basketball, football, golf, tennis and many others. Nike follows global fashion trends and is considered to be a popular brand in the hip-hop and youth culture concerning the supply of fashion products. Nike has collaborated with Apple to generate Nike+ products that can evaluate and monitor a runner’s performance via a radio in the shoe that directly links to the iPods. Additionally, Nike is marked to be a climate-friendly company, thereby, developing significant brand value. The success of the company is often attributed its long- and short-term goals and objectives. In this article, we have discussed about the Nike mission statement and vision statement.
Nike Vision Statement
The Nike vision statement is “do everything feasible to augment human potential”. It has been designed in a manner that the organization does not restrict itself to specific strategies in assuring the best quality offered to the customers in the world of sports. Nike’s vision statement highlights that the brand does not settle for normal and is thus, committed to generating dynamic and simple designs for the users. Therefore, certain definite characteristics are evident in this vision statement, which is as follows:
Improving lives of people
Nike is noted to be a people-oriented organization where the operations target to mark a positive impact on the people. Based on Nike vision statement, this is initiated by incorporating goals that enhance societies to run parallel by its primary aims, thereby, developing corporate social responsibly. For example, Nike is accredited for designing and leading environmental conservation strategies around the world. Nike is also vocal in definite social targets that involve the overall mission of developing efficiency among the people it serves.
Another part of Nike vision statement is to transcend expectations. The company has always proved that it is competent at providing what customers need. The brand reputation of the company is ever-growing due to the extensive efforts Nike puts in designing and manufacturing the products. The Nike vision statement has allowed the company to acquire a competitive advantage in the markets due to its sustainability practices, product quality and efficient services. The customers believe that product of Nike are extraordinary and thus, Nike although faces competition from other sportswear brands, it is able to gain a secured market position across the globe due to its uniqueness.
Broadening human potential
One of the top priorities of Nike vision statement is to deliver the best products such as footwear, equipment and apparel to its primary customers who are the athletes. The company has maintained customer satisfaction for a long time. Additionally, the company is competent to understand the diversified needs of different sportsperson, thereby, stimulating creativity to generate products tailored to the customers’ needs.
Moreover, Nike vision statement aims to remain the most connected, authentic and distinctive brand. The corporate vision statement highlighting the authentic element suggests that Nike aims to deliver its products to customers that possess high performance. The connecting element of the Nike vision statement highlights that the company is focused on ensuring the personal connection of the consumers with the brand. Based on Nike vision statement, the company maintains distinctiveness by offering high-quality products to customers. The corporate vision statement for Nike reveals a strong market position of the brand, thereby, featuring it as the leading producer of sportswear in the global market sphere, which is one of the key Nike’s purpose. The corporate social responsibility of the company is evident to align with the vision statement. Nike believes that the brand and the consumers must prosper in a sustainable economy where people, planet and profit are at an equilibrium state.
Nike Mission statement
The mission statement of Nike is “to bring innovation and inspiration to every sportsperson in the world”. It highlights that every person is a potential athlete and thus, the company designs products that can suit any individual. The mission statement of Nike presents the organization’s strategic objectives to target the global sports and leisure footwear, equipment and apparel market. The main elements of the mission statement of Nike are inspiration, innovation and mass marketing. As Nike is a leading manufacturer of sportswear, it inspires people to embrace a winner mindset that is included in the inspiration element of the mission statement. The inspirational goal of the company is outlined it's in a slogan that states "Just Do it". The innovation element of the mission statement of Nike presents the continuous effort of the brand in developing new products concerning high-tech features. The company aims to target every consumer in the world as it believes that every individual is an athlete. This represents the mass marketing element of the mission statement. Nike’s products are thus, designed to attract a wide range of market segments across the world. The components of Nike’s mission statement can be elaborated as follows:
Innovation: Nike is playing at the front row motivating its customers by providing them comfortable apparel and footwear. Nike is aware of the latest trend and thus, the company tries to satisfy the needs and requirements of its customers. For instance, Nike’s collection of sportswear highlights an impression of the specificity of the products.
Innovation stands at the forefront of the mission statement of Nike and also forms the foundation of the structure of Nike. The company has always maintained its leadership position in the sportswear market since its foundation. This is because the brand is able to narrow down its strategies to design and produce aesthetically appealing and versatile products for the consumers. The company recruits creative minds so that they can advance the brand’s innovative agenda to launch creative products in the global market. For instance, Nike has introduced the Nike Flywire support system, Hyperdunk basketball shoe, Lunarlite foam cushioning, the new Trainer 1 shoe and many others to set the innovation standards for the sports industry.
In order to target the mass audience, Nike has established its stores around the world. As a part of the mission statement of Nike, it highlights its competency to mark its footprints everywhere. Nike possesses diversification strategies and thus, it includes different products that can meet the demands of every athlete across the world. for example, Nike has incorporated signature initiatives that are marked to grow and improve sports talents around the world.
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