A well developed mission statement, no matter the industry or size of the business, will answer 5 basic questions:

1) Who are we?

2) Who are our customers?

3) What is our operating philosophy (basic beliefs, values, ethics, etc.)?

4) What are our core competencies and competitive advantages?

5) What are our responsibilities with respect to being a good steward of environmental, financial, and human resources?

Nike does a great job with their mission statement. How does it answer each of the 5 basic questions?

Nike's Mission Statement- To bring inspiration and innovation to every athlete* in the world. *If you have a body, you are an athlete.