NIKE COMPANY
INTRODUCTION :
Nike is a worldwide company that produces, and sell sports footwear,
clothing and accessories.
Bill Boweman and phill knight formed the business in 1964
It’s headquarters in Beaverton, Oregon.
VISION:
Nike aim’s to make the world a better place. Sports has the power
to inspire and alter lives.
The company aspires to harness that power to positively impact
individuals, communities and the world
inspiration Innovation
Inspiration:
Nike has mastered to use marketing to
develop and stimulate demand as a
consumer company.
The main inspiration of Nike towards
the consumer is that they provide
there services in a best way.
Innovation:
Nike Presents itself as an
innovative firm that is prepared to
constantly innovates its products.
Innovation is the replacement of the
old with new. The majority of Nike’s
have an inspirational tone due to
this Nike capture the maximum
market in international level.
MISSION :
Nike mission statement is as follow:
“To do everything possible to expand human potential”
Nike's purpose is to inspire and innovate for all athletes worldwide. The brand
defines an athlete as "anyone with a body"
We can derive three crucial elements from this mission:
1. Human Potential
2. Breakthrough sports innovation
3. Sustainability
Human Potential :
Nike must once again inspire, and it must use consumer psychology to stay at the
forefront of their minds when purchasing a sports item.
Making a person believe that by wearing the shoe, they may improve their situation is
part of that method.
Breakthrough sports innovations :
You can create new products through innovating, and those products will generate
additional demand.
you can also replace the old product with the new product by adding something new in
the coming product.
Sustainability :
Nike has made sustainability a critical component of its management. Nike's mission is
to "use the power of sport to move the world forward."
We believe in a just and sustainable future in which everyone benefits from a healthy
planet and a level playing field.
OBJECTIVES :
Nike's objectives are to promote growth and profitability, to provide innovative
products and services, to build a strong brand image, and to improve sustainability and
social effect.
Organizational Structure / Organizational Profile :
Nike has three major business segments: Nike Brand, Converse, and Hurley. Nike is
the company's most popular brand, offering athletic shoes, gear, and accessories for a
variety of sports and activities. Converse is a Nike casual shoe and clothing.
Nike's organisational structure is a matrix that includes geographic divisions. The
regional and sub-regional levels also feature Nike's matrix system. The division of
managerial responsibilities by business unit (apparel, footwear, and equipment) and
function (human resources, finance, marketing, sales, and operations).
PRODUCTS :
Nike sells a wide range of products, including sports footwear, apparel, and other items for
men, women, and children.
Running, basketball, soccer and golf are among the sports and activities for which the
company's goods are intended.
Nike's product portfolio now includes lifestyle shoes and clothes for everyday use.
Running shoes were their initial product. Nike Air Max is a shoe line that was introduced
by Nike, Inc. in 1987.
Other model lines followed, including the Air Huarache, which debuted in 1992.
For men, women, and children, the Nike collection comprises shoes, jerseys, shorts, soccer
cleats, base layers, and other items for sports Nike launched the SPARQ training
scheme/division in 2004. Nike's newest shoes feature lightweight Flywire and Lunarlite
Foam.
SERVICES :
In addition to its products, Nike offers a variety of services to its customers,
including footwear and apparel customization options, as well as online training programs
and programs to improve performance for athletes of all levels.
The customer's buying experience is made easier by services like the Nike
Performance Stylist. They support the brand's positioning as an authority in their industry.
They also give the company the chance to introduce its clients to a larger variety of
products.
Also, Nike employs designers to create unique sneaker designs and production
workers to put the finished product together. Nike also provides the option of Nike ID,
which allows customers to personalize their own shoes, in order to cater to the needs of
all customers. In case consumers require immediate assistance, Nike also offers customer
service by phone and online.
ROLE OF CORPORATE SOCIAL RESPONISBILITY :
Nike aims to promote sustainability and social responsibility throughout its
operations. Nike also invests in programs and initiatives that promote social and
environmental sustainability, such as the Reuse-A-Shoe program, which reuses sports
shoes to create sports surfaces and other products.
Nike's CSR and sustainability initiative is in line with the company's guiding principle
that "sports can change the world for the better." Nike uses the capacity of sports to bring
people together to advance its CSR goal in three important areas: environmental
sustainability, community investment, and diversity and inclusion.
Nike’s Diversity and Inclusion Program :
A healthy and accepting workplace environment for all employees is at the heart of
Nike's CSR and corporate governance programmes. To do this, the business makes
investments in encouraging a work climate that values inclusion and diversity.
Nike offered paid time off and free virtual counselling to workers who were in need of it
as a result of the epidemic, as well as worked with suppliers to develop necessary health and
safety measures at their facilities. Additionally, Nike implemented a two-to-one match for all
employee donations given to charities providing aid and support for COVID-19.
Sustainability of the Environment
Nike continues to make significant progress in promoting their environmental
sustainability programmes as they are aware that "there is no planet, there is no sport" if
there isn't one.
Nike is utilising reusable and recyclable products as well as more sustainable materials in
its product lines to reduce waste.
FINANCIAL INDICATORS :
Nike is a publicly traded company and its financial performance is regularly reported
to shareholders and the public. In recent years, Nike's financial performance has shown
strong growth with increased revenue, net income and earnings per share. The company
has also demonstrated its resilience against economic challenges such as the COVID-19
pandemic.
Nike's COVID-19 reaction was extensive, covering the expenditures of food and
clothing for international communities as well as additional support for its staff. The
initiatives included a $30 million donation for food and medical care as well as a $5.7
million gift of clothing and footwear for healthcare personnel and front-line staff.
COMPETITOR DETAILS :
Nike competes with other athletic shoe and sportswear brands, including Adidas, Under
Armor, Puma, and New Balance. These companies offer similar products and services
and compete for market share in different regions and market segments.
The greatest rivals of Nike are listed below.
1. Adidas
2. Puma
3. Under Armour
4. Skechers
5. Lululemon
6. Columbia Sportswear Co
7. Asics
8. Reebok
9. Brooks
10. Gymshark
CONTRIBUTION TO THE NATIONAL ECONOMY:
Nike is a significant contributor to the US economy with operations in many countries and
a large workforce. The company also supports various initiatives and programs that
promote economic development and job creation in the communities where it operates.
EFFECT OF POLITICAL ENVIRONMENT ON COMPANY'S
PERFORMANCE :
Nike operates in a global business environment and is exposed to various political
and regulatory factors that may affect its operations. For example, changes in trade
policies or tariffs can affect the company's supply chain and production costs. Political
instability or civil unrest in the country where Nike operates can also affect its operations
and financial performance.
Nike, an American manufacturer and marketer of footwear, clothes, and
accessories, will be unable to supply the Iranian football team with equipment as a result
of US sanctions against Iran. "Sanctions applicable to Nike have been in place for many
years and are enforceable by law," the firm claimed in a statement. Because of this
corporation, Iranian and other consumers may have an unfavourable perception of its
brand.
FINDINGS :
Overall, Nike is a well-established and successful company that has shown strong growth
and popularity in recent years.
The company is also committed to sustainability and social responsibility.
It has set ambitious goals to reduce its environmental impact and increase circulation in its
operations.
SUGGESTIONS :
Nike+ is one of the successful instances of how a virtual training and mentoring system for
amateur and professional athletes’ functions, claim Baloian, Burstein, Ogata, Santoro, and
Zurita (2014).
The company will be able to increase its level of popularity and sales if it keeps enhancing
this platform and pays attention to customer feedback.
Elowsson and Johansson (2013) point out that any company can build business concepts
and strengthen market positions thanks to the brand value.
If Nike joins another equally prestigious company in a new, ambitious project, it may be
able to boost the effectiveness of internet marketing.
CONCLUSION :
Nike continues to set industry standards for its cutting-edge product designs and
marketing techniques, living up to their "Just Do It" name.
Nike will need to develop and enhance supply chain practices in order to keep its
competitive advantage and make sure that policies safeguarding the welfare and safety of
all employees are upheld.
In order to make sure that its products are socially and environmentally sustainable, Nike
will need to consistently analyze and improve its operations given the company's large
reliance on factories in other countries.
REFERENCES :
Nike annual revenue worldwide 2022 | Statista
THANKS
