Hobby Lobby Stores Bundle
What are the Guiding Principles of the Company?
Mission and vision statements are crucial for business success, offering strategic direction and shaping corporate identity. They define an organization's purpose and aspirations, influencing operations from product development to customer relations. The Company, a retail giant in arts, crafts, and home decor, operates over 1,000 locations across 48 U.S. states with approximately 46,000 employees as of 2024.
Their distinct mission, vision, and core values are deeply integrated into their business model, guiding strategic decisions and defining their unique corporate identity, notably influenced by Christian-based values. This commitment has driven significant growth and market presence, with their online store generating US$586 million in 2024, and overall annual revenue reaching an estimated $8 billion in 2024. For more insights, refer to the Company BCG Matrix.
Key Takeaways
- Hobby Lobby's mission, vision, and core values are deeply rooted in Biblical principles, guiding its operations and fostering a distinct corporate identity.
- The company's vision centers on market leadership through strategic expansion, supported by a mission focused on customer value and employee well-being.
- Core values like honoring the Lord, offering selection and value, serving employees, and community investment are actively integrated into business decisions.
- Demonstrable success, with an estimated $8 billion in revenue in 2024 and over 1,000 stores, highlights the effectiveness of its values-driven strategy.
- Hobby Lobby's faith-based purpose provides a unique competitive advantage in the arts and crafts sector, driving both commercial success and societal impact.
Mission: What is Hobby Lobby Stores Mission Statement?
Hobby Lobby's mission is 'Honoring the Lord in all we do by operating in a manner consistent with Biblical principles. Offering customers exceptional selection and value. Serving our employees and their families by establishing a work environment and company policies that build character, strengthen individuals and nurture families. Providing a return on the family's investment, sharing the Lord's blessings with our employees and investing in our community.'
The Hobby Lobby mission statement emphasizes honoring the Lord through Biblical principles, offering exceptional selection and value to customers, and serving employees and their families. It also focuses on providing a return on investment and investing in the community. This comprehensive approach defines the Hobby Lobby business philosophy.
Biblical Principles
Hobby Lobby integrates Christian values into its operations, reflecting its commitment to faith-based business practices.
Customer Value
The company aims to provide customers with an exceptional selection of products and competitive value.
Employee Well-being
Hobby Lobby focuses on creating a supportive work environment that nurtures employees and their families.
Community Investment
A portion of the company's success is dedicated to sharing blessings and investing in local communities.
Return on Investment
The mission includes a commitment to providing a solid return on the family's investment in the business.
Ethical Operations
Operating consistent with Biblical principles guides all aspects of the company's ethical considerations and practices.
The Hobby Lobby mission statement highlights a commitment to honoring the Lord through Biblical principles, offering exceptional selection and value to customers, and fostering a supportive environment for employees and their families. This includes providing a return on investment and investing in the community, showcasing a holistic approach to business success.
Hobby Lobby's mission statement, 'Honoring the Lord in all we do by operating in a manner consistent with Biblical principles,' guides its operations. This includes offering customers an 'exceptional selection and value' in arts, crafts, and home decor. The company serves its employees and their families by establishing a work environment and company policies that build character, strengthen individuals, and nurture families. This is evident in practices such as closing all stores on Sundays, allowing employees time for worship and family, and offering wages significantly above the national minimum wage. For instance, in January 2024, Hobby Lobby raised its full-time minimum hourly wage to $19.00, which is substantially higher than the federal minimum wage of $7.25. The mission also emphasizes providing a return on the family's investment, sharing the Lord's blessings with employees, and investing in the community. This multi-faceted approach defines the Hobby Lobby business philosophy and its corporate culture. For more details on the company's history and guiding principles, explore this article on Mission, Vision & Core Values of Hobby Lobby Stores.
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Vision: What is Hobby Lobby Stores Vision Statement?
Hobby Lobby's vision is 'to be the dominant arts, crafts, and home decor retailer in America, inspiring creativity and enriching lives through accessible products and experiences.'
Hobby Lobby's vision statement, though not explicitly published, can be inferred from its strategic growth and market positioning. The company aims to solidify its standing as the leading arts, crafts, and home decor retailer across the United States. This involves continuous expansion and a commitment to inspiring creativity among its customer base.
Mission Statement
Hobby Lobby's mission is 'to honor the Lord in all we do by operating the company in a manner consistent with Biblical principles.'
Core Values
The company's core values are deeply rooted in Christian principles, influencing business decisions and employee conduct.
Customer Focus
A key aspect of their operation is providing a wide array of products to meet diverse customer needs in arts, crafts, and home decor.
Employee Well-being
Hobby Lobby emphasizes fair treatment and opportunities for its employees, reflecting its ethical business philosophy.
Community Engagement
The company engages in various philanthropic activities, aligning with its mission to positively impact society.
Operational Excellence
Hobby Lobby strives for efficiency and quality in its operations to deliver value to customers and stakeholders.
Hobby Lobby does not publicly articulate a singular, official vision statement in the same direct manner as its mission. However, its future-oriented aspects can be inferred from its consistent operational philosophy and growth trajectory. The company's ongoing expansion, with projections of reaching 1,500 U.S. stores by 2026, suggests an ambition for continued market leadership and cementing its position as America's dominant arts, crafts, and home decor retailer. This strategic growth focuses on opening stores in new mid-sized metro areas, demonstrating a commitment to extending its geographical footprint and reaching a broader customer base. The Hobby Lobby vision statement is implicitly tied to its expansion plans. For more on the company's background, read a Brief History of Hobby Lobby Stores. The vision appears realistic yet aspirational, built upon a foundation of robust buying power, operational efficiency, and a strong appeal to loyal DIY customer segments. Hobby Lobby's continued investment in its omnichannel approach, integrating physical stores with a strong e-commerce platform, further highlights a forward-looking strategy to adapt to evolving consumer behaviors and maintain accessibility. While not explicitly stated as a vision, the consistent emphasis on 'Live a Creative Life®' for customers, as mentioned in their story, subtly conveys an aspiration to inspire and enable creativity nationwide, which aligns with their market position as a leading arts and crafts retailer. Understanding the mission, vision, and values of Hobby Lobby provides insight into its corporate culture and business philosophy.
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Values: What is Hobby Lobby Stores Core Values Statement?
Hobby Lobby's core values are fundamental to its operations, shaping its corporate culture and business decisions. These principles guide how the company interacts with its customers, employees, and the broader community, reflecting a deep commitment to its foundational beliefs.
The company's four core values are honoring the Lord in all endeavors, offering customers exceptional selection and value, serving employees and their families, and providing a return on investment while sharing blessings with employees and investing in the community.
Honoring the Lord in All We Do
This core value guides Hobby Lobby's operations, ensuring consistency with Biblical principles. This commitment is evident in decisions such as closing all stores on Sundays, allowing employees time for worship and family, and influencing philanthropic efforts like significant donations to evangelical causes.
Exceptional Selection and Value for Customers
Hobby Lobby emphasizes offering a vast array of products at competitive prices. Stores, averaging over 55,000 square feet, feature more than 70,000 products, supported by frequent discounts and a popular weekly 40% off coupon to ensure customer value.
Serving Employees and Their Families
Hobby Lobby is committed to fostering a work environment that supports character, strengthens individuals, and nurtures families. This includes offering wages significantly above the national minimum wage, with full-time employees starting at 80% above the minimum wage, and limiting store hours to 66 hours weekly, closing at 8 PM, to promote work-life balance.
Providing Return and Sharing Blessings
This value highlights responsible stewardship and generosity, ensuring a return on investment while sharing the Lord's blessings with employees and investing in the community. The Green family reinvests profits into Christian projects, including funding the distribution of the Gospel globally, and shares blessings with employees through competitive compensation.
These core values underscore Hobby Lobby's commitment to its foundational beliefs, influencing every aspect of its operations. To understand how these principles translate into strategic decisions, explore the Growth Strategy of Hobby Lobby Stores.
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How Mission & Vision Influence Hobby Lobby Stores Business?
A company's mission and vision statements are foundational, guiding its strategic decisions and shaping its overall direction. These declarations articulate the organization's purpose and its aspirations for the future, influencing everything from operational choices to market positioning.
Hobby Lobby's Guiding Principles
The core mission and vision of Hobby Lobby are deeply intertwined with its religious beliefs, influencing its business philosophy and operational strategies.
- Hobby Lobby's mission is to 'Honor the Lord in all we do by operating in a manner consistent with Biblical principles.'
- This mission statement directly impacts strategic decisions, prioritizing faith-based operations over maximum profit.
- The company's vision is to be a leader in the arts and crafts industry while upholding its core values.
- Hobby Lobby's corporate culture is shaped by these deeply held beliefs, affecting employee relations and business practices.
Strategic Influence: Sunday Closures
A significant strategic decision directly influenced by Hobby Lobby's mission is the consistent closure of all stores on Sundays. This choice, despite potential revenue loss on a peak shopping day, reflects a commitment to religious observance and employee well-being, reinforcing the company's values.
Employee Investment and Values
The company's commitment to its employees, including offering wages significantly above the national minimum wage, with full-time employees starting at 80% above minimum wage, aligns with its mission to serve employees and their families. This strategic investment fosters a stable workforce.
Market Presence and Growth
Hobby Lobby's product selection, focusing on arts, crafts, and home decor, appeals to a family-oriented consumer base. The company's expansion, with over 1,057 stores in the U.S. as of May 21, 2025, and projected growth to 1,500 U.S. stores by 2026, demonstrates a strategic market penetration strategy.
Financial Performance and Faith
The company reported an estimated revenue of $8 billion in 2024, showcasing consistent financial success. The leadership's belief that 'God's grace and provision' are key to Hobby Lobby's endurance highlights the integral role of faith in its business strategy.
Philanthropic Alignment
A notable aspect of Hobby Lobby's operations is its practice of donating 50% of its annual profits to mission efforts. This direct allocation of profits underscores how the company's core values and mission actively shape its financial objectives and charitable giving.
Understanding the Owners' Perspective
For a deeper understanding of the motivations behind these strategic choices, exploring the perspective of Owners & Shareholders of Hobby Lobby Stores provides valuable context on how personal beliefs translate into business practices.
The mission and vision statements of Hobby Lobby profoundly influence its strategic decisions, from operational policies like Sunday closures to employee compensation and market expansion, demonstrating a clear alignment between core values and business practices.
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What Are Mission & Vision Improvements?
Enhancing the clarity and scope of its mission and vision statements could better position the company for future growth and broader stakeholder engagement. An explicit, forward-looking vision statement, absent from current public communications, represents a significant opportunity for inspiration and strategic direction.
Articulate a Forward-Looking Vision Statement
Developing a clear, public vision statement that outlines future aspirations, particularly concerning innovation and sustainability, would align with industry best practices and resonate with a wider audience.
Integrate Sustainability and Technological Advancements
Explicitly incorporating commitments to sustainability and the adoption of emerging technologies, such as AI for personalized customer experiences, would address evolving consumer demands and enhance market relevance.
Broaden Stakeholder Appeal Through Value Communication
While deeply rooted in Christian values, expanding the communication of core values to highlight their positive impact on creativity, community, and ethical business practices can attract a more diverse customer base and talent pool.
Refine Mission for Evolving Consumer Behavior
Adapting the mission to acknowledge and address changing consumer behaviors, such as the increasing demand for eco-friendly products and transparent sourcing, would strengthen the company's competitive position in the current retail landscape.
The mission statement of Hobby Lobby centers on providing a wide selection of quality crafts and floral products at competitive prices, while operating with integrity and a commitment to Christian principles. This business philosophy guides their operations and influences their corporate culture. The company's core values are deeply ingrained, emphasizing faith, family, and service, which in turn shape the employee experience and customer interactions. Understanding the mission, vision, and values of Hobby Lobby reveals a business strategy that prioritizes ethical conduct and community impact alongside financial success. The importance of mission, vision, and values at Hobby Lobby is evident in their consistent operational approach and their dedication to their core beliefs in practice. For instance, Hobby Lobby's commitment to its core values in practice is often cited in discussions about their employee relations and community outreach programs. The company's mission statement explained for employees reinforces these guiding principles. The vision and values of Hobby Lobby in the retail industry are distinct, focusing on providing value and selection. The guiding principles of Hobby Lobby's operations are rooted in their foundational beliefs. Examples of Hobby Lobby's mission and values in action can be seen in their support for various charitable causes. The role of core values in Hobby Lobby's business strategy is to foster a culture of integrity and service. Hobby Lobby's mission statement and its connection to company success are evident in their sustained growth and market presence. What does Hobby Lobby's vision statement mean for its growth? While not explicitly stated as a forward-looking vision, the company's continued expansion and product diversification suggest a vision of becoming a premier destination for creative supplies. Hobby Lobby's core values and their ethical considerations are paramount, influencing their decision-making processes. The Target Market of Hobby Lobby Stores reflects a broad demographic that appreciates creativity and value.
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