Thus, sustainability strategy is an action plan that a company set in order to maintain the plan toward the achievement of company’s goals in future. Sustainability strategy puts into consideration aspects such as the source of raw materials, competition, human resource development, and sustainability, and the general business environment. Thus, in evaluating a business’ sustainability, it is important to consider the business planning in this direction (Heslin and Ochoa 2008) Nike stands out as on... ... middle of paper ... ...lations. Available at; http://investors.nikeinc.com/files/doc_financials/AnnualReports/2010/docs/NIKE_2010_10-K.pdf/ [Accessed November 25, 2013] NIKE, Inc., 2013. Annual Report- NIKE, Inc. - Investor Relations.
Nike's History and Marketing Every box of Nike shoes states, “engineered and built to the exact specifications for championship athletes around the world.” Nike has become the measuring stick in the world of merchandising and endorsing. Top athletes around the world are often seen with a famous Nike swoosh on their shoes. It is not uncommon to see some form of Nike product everywhere you look. Nike “head honcho” Phil Knight wants to keep it that way, too. In the spring of 1972, Phil Knight, a graduate of the University of Oregon, introduced the city of Beaverton, Oregon to the world of Nike.
Knight persuaded the Onitsuka Co. in Japan, the manufacturer of Tiger shoes to make him a distributor of Tiger shoes in the United States. Knight sent Bowerman several pairs out of his first shipment in the hope Bowerman would buy some, instead, Bowerman offered to make Knight his partner and provided him with his footwear design ideas. (Nike, Inc. History, 2013) The two entrepreneurs formed Blue Ribbon Sports in 1964, and then in 1965 they hired Jeff Johnson to manage the company’s operations. Johnson proved to be an invaluable team member. Johnson was very proactive with his role managing Blue Ribbon Sports.
Today Nike employs over 35,000 people across six continents and operates in over 160 countries. Not only has the company become one of the largest athletic companies in the world it also own several subsidiaries as well, which include: Cole Haan, Converse Inc., Hurley International LLC., Nike GOLF, Umbro Ltd., and Nike Jordan. Nike continues to grow and fulfill its mission statement every year by making better products. Many people wonder how Nike is able to make such large improvements on the product line year after year. They do this by working with athletes to make products for athletes.
He went to the University of Oregon where he studied physical education, wrote a best seller about running, and from 1949 to 1972, coached his alma mater into becoming a top-tier school for track and field. Bowerman was known for always demanding the highest effort from his athletes; he would demand the athletes to run three times a day. The Oregon coach always tried to be at the cutting edge of technology by designing better track surfaces, improved training, and, most importantly, developed the obsession for lightweight, high quality running shoes. Because of his constant desire to have the best shoe out there, he was able to innovate the running shoe industry, which had still relied on designs from fifty years ago, and developed the Waffle Racer, on which all running shoes are still based on. Yet as innovative as the shoe was, had Nike not had his former steeplechaser, Phil Knight, marketing the shoe, none of this would have mattered and casual runners today most likely would be still wearing canvas shoes.
From 1981 to 1991, Nike began to sponsor the top athletes in the world of sports. Nike pursued the likes of athletes such as Carl Lewis and Michael Jordan. Nike Company topped the 107 billion-dollar mark in 1986. The company established the “Just Do It” campaign in 1987. Nike continues to dominate the footwear category not only in the United States, but also in Canada, Japan, and Taiwan.
Knight however obtained an MBA in finance later at Stanford. Knight persuaded the Onitsuka Co. in Japan, the manufacturer of Tiger shoes to make him a distributor of Tiger shoes in the United States. Knight sent Bowerman several pairs out of his first shipment in the hope Bowerman would buy some, instead, Bowerman offered to make Knight his partner and provided him with his footwear design ideas. (Nike, Inc. History) The two entrepreneurs formed Blue Ribbon Sports in 1964, and then in 1965 they hired Jeff Johnson to manage the company’s operations. Johnson proved to be an invaluable team member.
This advancement continued through the ‘70s and pushed Nike to become a publicly traded company in 1980. All throughout the 1990s, Nike became known for its amazing shoes. Then, Nike decided to branch out into other sports. They had huge success in golf with the then unknown Tiger Woods wearing all Nike apparel (Nike, inc., 2012). Nike also made a huge investment in keeping its sponsorship of Lance Armstrong throughout his battle with cancer.
The biggest proof of his successful ideas perfection is 700 patent rights as well as other industrial property rights throughout the world. Adi Dassler’s made shoes were used for the first time at the 1928 Olympic Games in Amsterdam. In the mid 1930s the company with 100 employees had 30 different varieties of shoes for eleven different sports. It is now one of the best sport shoe maker in entire world. After the Second World War, the company in 1947, with 47 workers, the company introduced shoes made out of canvas and rubber for American war heroes.
Consumer Discretionary Equities under Review -- Research on NIKE, Coach, Crocs and Deckers Outdoor. (n.d.). The Wall Street Journal. Retrieved March 30, 2014, from http://online.wsj.com/article/PR-CO-20140319-907077.html 5. Sustainability Report.