The mission and vision statements of Toms Shoes Company are a reflection of the selfless nature that this corporation has demonstrated in the line of its business. Toms as it is popularly known displays a model practice any global organization would yearn to be part of – that of making a difference in the life of others.
In slightly over 10 years of its operations, Toms has become a household name in the U.S. and beyond because of its unique business approach as dictated by its mission and vision statements. The mission statement simply describes the actions that direct the growth towards a certain path. On the other hand, a vision statement establishes this growth path.
In the case of Toms, the vision of the company is all about the impact it can make in the lives of the needy, while its mission indicates the strategies that the company uses to make this a reality. In addition, this goal is aided by the core values of Toms. These have been critical in the continued growth of the company and its focus on the mission and vision statements.
Toms Mission Statement
Toms’ mission statement is “for every pair of TOMS shoes purchased online or at retail, the company will provide a pair to a child in need. One for One.” The statement by Toms Shoe enterprise places the needy child at the center of everything it does. In this way, it brings out the caring and philanthropic nature of the company together with the desire to improve the lives of others. The mission statement has the following major points:
- Improving lives
- Improving communities
At Toms, the focus is about touching the lives of the vulnerable or the disadvantaged children rather than profiteering as shown in the first component of this mission statement. Toms acknowledges the importance of a shoe when it comes to making life easier for these needy children, and this is why it came up with a policy of donating shoes. By doing this, the establishment contributes in its own way towards the growth of the community. In fact, its act of care is akin to giving these children an opportunity in life, and this translates to better societies.
Toms’ vision statement is to take “the responsibility of providing for the comfort of children in impoverished regions worldwide.” In this vision statement, Toms recognizes the wish and desire of every child to feel comfortable and accepts this call. The company, therefore, acts as a role model. The statement can be elucidated as follows:
- Providing comfort
- Impoverished regions worldwide
To satisfy the first aspect of its vision, Toms Shoe Company made a vow of donating a shoe for every sale and stays true to this pledge. The company also ensures that it reaches out to as many needy children as possible by expanding its operations to a global scale.
Toms’ core values comprise “a caring heart, kind, honest and consistent. It is only with these guiding principles that Toms has maintained its course and grown into the global enterprise it is today. In fact, its business approach together with commitment to its mandate has created loyalty among its customers at the global level.
Kreutzer, R. T. (2019). Vision, Mission, and Goals. In Toolbox for Marketing and Management (pp. 33-48). Springer, Cham.
Aithal, P. S. (2015). How an effective leadership and governance supports to achieve institutional vision, mission, and objectives. International Journal of Multidisciplinary Research and Development, 2(5), 154-161.
Cross, K. J., Lee, W. C., Gaskins, W. B., & Jones, B. P. (2018, October). The Structure of Change: A Content Analysis of Engineering Diversity Plans and Mission Statements. In 2018 IEEE Frontiers in Education Conference (FIE) (pp. 1-4). IEEE.
Pandey, S., Kim, M., & Pandey, S. K. (2017). Do mission statements matter for nonprofit performance? Insights from a study of US performing arts organizations. Nonprofit Management and Leadership, 27(3), 389-410.
Kantabutra, S., & Avery, G. C. (2010). The power of vision: statements that resonate. Journal of business strategy, 31(1), 37-45.
Mirvis, P., Googins, B., & Kinnicutt, S. (2010). Vision, mission, values. Organizational Dynamics, 39(4), 316.
Kenny, G. (2014). Your Company’s Purpose is Not Its Vision, Mission or Values. Harvard Business Review. Sep, 3.
I. Williams Jr, R., L. Morrell, D., & V. Mullane, J. (2014). Reinvigorating the mission statement through top management commitment. Management Decision, 52(3), 446-459.
Goworek, H., Perry, P., Kent, A., Roncha, A., & Radclyffe-Thomas, N. (2016). How TOMS’“one day without shoes” campaign brings stakeholders together and co-creates value for the brand using Instagram as a platform. Journal of Fashion Marketing and Management.
Jean, W. A., & Yazdanifard, R. (2015). The review of shared value in contemporary CSR run by two successful companies to sustain the business in recent years. International Journal of Management, Accounting, and Economics, 9, 1122-1129. Bachnik, K., & Szumniak-Samolej, J. (2013). Shared value in practice: TOMS business model. Chinese Business Review, 12(9).