|
Topics:
|
|
|---|---|
Words: |
988 |
Pages:
|
2
This essay sample was donated by a student to help the academic community. Papers provided by EduBirdie writers usually outdo students' samples.
|
Cite this essay
Download
Nike is a well-known public limited liability company. This means that anyone can invest in Nike by buying shares meaning they will be sharing the risks of the company. With the investments of these shareholders, Nike can chase new projects and also pay off their debts. Nike's main objective is to make profits so they can satisfy their shareholders. This massive shoe and apparel company was started by 2 men named Bill Bowerman and Phil Knight. Bill Bowerman was a coach and he was trying to find ways to improve the performance of his athletes and that is where the idea of shoe manufacturing came from. This was Phil’s idea, others did not believe in it but Bill did so they formed it calling it Blue Ribbon Sports. This company grew so much into the company we know as Nike today. As of October, Nike had a market capital of $115 billion and is still growing. As of today, almost 85% of the shares held by the company are held by institutions and these are the top holders:
Nike is a major sporting brand worldwide that produces a variety of products like clothing, shoes, accessories, sports gear and so much more. They are currently the best at what they do and they have attained brand loyalty from countless individuals because of the quality of their products. As of 2019, Nike had a total of 76700 individuals working for them worldwide and as of 2020 have a value of approximately $34.8 billion which has increased by $2 billion since 2019. Nike is also very successful because of their dominating marketing strategy, their adverts, and their research on their customers. Nike has also endorsed a lot of sports associations such as the NBA and also some colleges and major events like the Olympics. Nike also uses some of the most popular and top athletes in the world to advertise and increase their brand awareness and that is one of the major reasons they are at the top today. They use these athletes to advertise their products. Some of these popular athletes include Cristiano Ronaldo, Lebron James, Serena Williams and so much more. These individuals have millions of social media followers and posting themselves wearing the brand's products will encourage others to buy and also increase brand awareness.
Nike maintains a program called Corporate Social Responsibility (CSR) which was formed to address the interests of Nike's stakeholders. Nike influences its stakeholders and Nike's stakeholders also influence them. The image of Nike and the sales performance of all their products are subject to the effects of the interest of the stakeholders.
A massive business like Nike has various stakeholders who influence the sales of its products. However, the company’s CSR only targets several top stakeholder groups. These are their stakeholders arranged in order of significance:
Customers: The customers are Nike's top priority as a stakeholder group. The customers are important because it’s the company’s main source of revenue. These stakeholders expect top-quality products from Nike sold at reasonable prices. Because of this, Nike continues to supply top-quality products and offer them at prices reasonable to the customers which effectively satisfies the customers as their top priority stakeholder group and this leads to high profitability and an increase in sales.
Communities- Nike's CSR identifies communities as a stakeholder group that has a significant influence on the company. Customers are more likely to buy products that have a positive impact on communities. The main interest of this stakeholder group is to develop communities. Nike has addressed this interest through the Nike foundation which is the company’s primary means of supporting the development of communities which means Nike has addressed the interests of this stakeholder group.
Employees- Nike's CSR sees the employees as stakeholders who influence the effectiveness of the organization. The performance of the employees affects the performance of the business. The interests of these stakeholders include fair payment, career development opportunities, and a sense of purpose. These interests are addressed through Corporate Social Responsibility policies and programs that mainly focus on internal leadership growth, talent management through coaching and mentoring, and teamwork building. These efforts are expected to make Nike's products top quality and more popular.
Government- Part of the company’s corporate social responsibility strategy is to identify the Government as a stakeholder group. This stakeholder group is important to Nike because they have a say or effect on how Nike operates in terms of permits, limits, and legal actions in specific markets for its products. The Government has a high interest in the legal and regulatory acquiescence, and also their contributions to tax revenue and community progress. Nike's corporate social responsibility has addressed the interest in community growth through their programs. Nike has various policies and standards which ensure the compliance of the company in all areas. Therefore, Nike satisfies all the interests of the government as a stakeholder.
Interest groups- Nike's corporate social responsibility addresses the interests of the interest groups. This stakeholder group affects Nike in terms of influencing the decisions of the government potentially and also in terms of customer perception regarding Nike's products. Their interests include fair labor practices, business sustainability, and environmental conservation. These interests are addressed through Nike Foundation initiatives and also sponsorships of various related programs. Nike has corporate social responsibility policies that improve the management of labor and also environmental impact. Therefore, Nike satisfies the interests of interest groups as a stakeholder.
Get your paper done in as fast as 3 hours, 24/7.
Fair Use Policy
EduBirdie considers academic integrity to be the essential part of the learning process and does not support any violation of the academic standards. Should you have any questions regarding our Fair Use Policy or become aware of any violations, please do not hesitate to contact us via support@edubirdie.com.
Stuck on your essay?
