Nike’s mission statement and vision statement both share the zeal to build and sustain a unique, innovative global brand. Nike’s mission is to be inclusive, inspiring, and innovative. In Nike’s eyes, everyone is an athlete; in Nike’s founder Bill Bowerman’s words,” If you have a body, you are an athlete.”
Nike’s adherence to its mission and vision statements has helped the company reach the apex in its market. It is currently the market leader in the athletic footwear market of the United States, with over 35.6% market share (as of 2017).
Company Profile of Nike:
|Sportswear, apparel, sports accessories, and equipment
|Bill Bowerman, Phil Knight
|January 25, 1964
|Beaverton, Oregon, US
|Nike’s mission statement
|“To bring inspiration and innovation to every athlete in the world.”
|Nike’s vision statement
|“To remain the most authentic, connected, and distinctive brand.”
Nike’s Mission Statement
Nike’s mission statement is as follows” to bring inspiration and innovation to every athlete in the world.”
Nike’s Mission Statement Analysis:
The mission statement of Nike highlights the following three components:
- Bringing Innovation
- Bringing Inspiration
- Every Athlete in the World
Nike is known for innovating new technology to support athletes. The company’s most notable innovations are the Nike Flyware support system, Hyperdunk basketball dunk, Lunarlite foam cushioning etc. These innovations strengthen Nike’s brand image of being a fresh and dynamic sportswear company. Nike’s mission includes integrating innovation into its product designing and development procedure. The sports world is fast-paced and Nike’s mission to bring innovation will help the company adapt to the changing conditions. This component of the mission statement is very appropriate for Nike’s target market.
Bringing inspiration to everyone is another component of Nike’s mission statement. Nike is determined to inspire people to engage. The company’s widely known slogan “Just Do It” is meant to inspire, reassure and motivate people. The company wants to enable people to achieve their goals. In this regard, Nike has already taken commendable steps. It focuses on empowering the youth and children. Nike’s storytelling inspires people to break boundaries. It regularly arranges campaigns and programs to attract the youth to sports. Nike’s goal of inspiring people is mentioned in its mission statement.
The last component of Nike’s mission statement is universality. Nike wants to extend its services and product lines to every athlete in the world. Nike’s philosophy says that everyone is an athlete. Therefore, this part of the mission statement indicates that Nike wants to provide sportswear for everyone.
Nike’s Vision Statement
Nike’s vision statement is “To remain the most authentic, connected, and distinctive brand.”
Nike’s Vision Statement Analysis:
Nike’s vision statement puts emphasis on maintaining its brand image. With the use of the word “remain” the statement hints that Nike is already the most authentic and connected brand. Upon further examination of the vision statement, the following characteristics are found:
Nike has established its superior brand image in the market. The competitive landscape of the sportswear market drives companies to strive to stand out in the crowd. Nike has been able to distinguish itself as an authentic and distinctive company. The company’s means to do so are innovation, customer engagement, successful marketing campaigns, endorsements from influential celebrities etc. Apart from these, Nike partakes in corporate social responsibilities, community services and educational programs. These activities help the company gain more brand awareness.
The athletic footwear and apparel company has steadily built its brand as the reliable manufacturer of premium quality products. Nike’s investment into its brand image has led to Nike being the company with the highest brand value among its competitors. Nike’s brand value worldwide amounts to 34.8 billion USD, whereas its closest competitor Adidas has a brand value of 16.5 billion USD.
Authenticity, connectivity, and distinction are correlated on several levels. Manufacturing unique products and nurturing connections with the customer base creates distinction. A mix of these three components helps a company succeed.
The characteristics that Nike’s vision statement mentions have been proven to be the key to success in this field. Nike was successful in aligning itself with the success factors of its market. As a result, Nike’s vision helped Nike reach a new height in the sportswear market.
Nike’s mission statement and vision statement complement each other and lays out a clear view of what the company aims to achieve. Its mission statement focuses on the steps (innovation and inspiration for all) that will help the company reach its vision of maintaining and improving its brand.
Frequently Asked Questions:
Is the brand Jordan a part of Nike?
Yes, Nike is the parent company of Jordan which means, Nike owns Jordan.
What are the core values of Nike?
The core values of Nike are: Community, Sustainability, Diversity, and Social responsibility
How much money does Nike make?
Nike’s global revenue was 37.4 billion USD in the year of 2020.
Which celebrity athletes were sponsored by Nike?
The topmost athletes of the sports world usually get sponsorship from Nike. Michael Jordan, Cristiano Ronaldo, Serena Williams, Lebron James, Rory Mcllroy, Rafael Nadal, Tiger Woods are some of the most popular athletes who were sponsored by Nike.
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