Nike Essay

Nike Corporation is one of the world’s leading manufacturer of quality athletic footwear, apparel, equipment, and other accessories. The company deals with product design and product innovation and is also an outstanding brand communicator, a leader in corporate responsibility as well as a portfolio of authentic and relevant brands. The Nike Corporation bases its success on various factors. The first factor is the Nike’s mission to bring inspiration and innovation to all athletes around the globe. Nike Corporation uses all its resources and assets to inspire different assets as well as manufacture products that assist them to build their individual careers. The company had defined numerous possibilities for human potential and also has set the way and direction for the various long-term growth opportunities. The second factor is the massive expansion in which the company has undergone since its invention by Phil Knight and Bill Bowerman (Carbasho, 8). In the present day, the company boasts of numerous brands that serve different sports and customers. The company has a widespread market around the world. Nike’s products get found in over 170 countries and have an employee total of approximately 30, 000 worldwide. This growth gets attributed to its smart products as well as its enhanced cooperation with various partners ranging from athletes, teams, manufacturers, retailers and supply chain providers. Nike has partnered with approximately 600 factories around the world that make, a partner in innovation, distribute, and sell its products.

The brands manufactured by Nike are not only quality but also easily recognizable. The company has used one deliberate strategy to create a portfolio of brands that meet customers’ needs regarding different sports, lifestyle categories and prices. The different brands include Nike brands, Jordan brands, Cole Haan, Converse, Hurley, Nike Golf, and Umbro. These unique brands have enhanced Nike’s sales. According to Holt & Cameron (2010), in 2009 Nike got ranked as the twenty-sixth most valuable brand around the world with an estimated worth of more than 13 billion dollars. Every brand gets manufactured to target specific and different consumers. It has enabled the company to benefit significantly from the diversity of the brand portfolio.

Nike takes significant consideration in producing innovative and creative products that continuously meet the different needs if athletes and other customers. It is crucial to sustainability. The company involves all stakeholders that include customers, employees, management, and distributors to come up with new ideas and better products. All these ideas cut across the entire processes and operations that get undertaken at Nike. They include the design of products, sourcing of new materials or even making them, devising lower-impact methods to manufacture, packaging and transporting to the market. Innovation is a significant factor in determining the number of sales a company will make, consequently affecting its profitability. Aydogan (2008), states that innovation is important among an enterprise’s strategic priorities so as to gain a competitive market advantage.

Nike also ensures that it widely connects with consumers so as to enhance its relationship with the consumers as well as strengthen its competitive advantage in the business today. Through positive feedback and interacting with consumers, the corporation can understand and meet the needs of the company. The company has also specifically enhanced its innovation of products for a particular consumer thus eliminating competitors. This consumer in which the Nike brand has majorly monopolized is the athletic and sports group. Nike products get used in majorly in different sports that include action sports, football, men’s training, sportswear, women’s training and athletics.

Compare and Contrast Nike and other brands

Nike Company emphasizes on creativity and innovation to produce smart and quality products for the market. The aspect makes the corporation be a favorite of many customers who prefer the products more than others from different brands. Innovation is a crucial element in the enterprise since it results in unique products. The company also uses innovation to create sustainable new products and processes, as well as enhance lives by leveraging sustainability as the world’s largest innovation opportunity.

Unlike other companies the corporation has significantly invested in selling, general and administrative cost. These costs have led to significant company growth concerning market share, revenue, and profitability.

Unlike most of Nike competitors, the company is well established in producing a wide variety of sports footwear. Most of the company’s competitors are upstarts while Nike got formed in the 1960s; thus has widespread partnerships and experience in making sports footwear.

Nike success and performance also gets attributed to the effective management of the company. Most other corporations do not grow and eventually do not survive due to lack of good management leadership. Kreitner, 2008 states that the success of the Nike Corporation as a successful athletic apparel business gets attributed to its competent manager’s who have effectively learned from mistakes and hard knocks. The managers have over time gained significant experience in understanding the impacts, risks, and opportunities associated with the business. Hence, effectively lead it through a journey of success.

References

Aydogan, Neslihan, ed. Innovation policies, business creation and economic development: a comparative approach. Vol. 21. Springer Science & Business Media, 2008.

Carbasho, Tracy. Nike. ABC-CLIO, 2010.

Holt, Douglas, and Douglas Cameron. Cultural strategy: Using innovative ideologies to build breakthrough brands. OUP Oxford, 2010.

Kreitner, Robert, Principles of Management: Edition 11: Cengage Learning, P. 17, 2008.

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