- Published: November 28, 2021
- Updated: November 28, 2021
- Level: Master's
- Language: English
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Nike Company Introduction Since its foundation in 1964, Nike Company has developed to one of the biggest multinational company in the globe; the company is famous for production of apparels such as sports shoes that are mostly used by sportsmen and women such as athletics. In addition to footwear, the company also produces a variety of sports accessories such as golf and footballs (Frisch, 2008). The essay will relay an analysis on the company’s Strengths, weaknesses, opportunities and threats.
Mission and Vision
Every company must have a vision and mission; this normally aids the company in realizing its main objectives hence giving it ideas on what ought to be done in order to achieve these objectives and Nike Company is not different because it also has its mission and vision. The company’s mission is to offer inspiration to all athletes globally (Nike Inc., 2014). Nike Company has strived to achieve this mission because to date, most athletes taking part in national competitions such as Olympics or marathon are supplied with footwear to enable them participate comfortably. The company’s vision is that everybody has the capacity of becoming an athlete since the company provides all the necessary gears (Nike Inc., 2013).
Strengths of the company
Nike Company has a number of strengths; the company has a global recognition for its apparels that are normally used in sports (Lussier & Kimball, 2009). Apart from its high quality apparel, the company also known for its innovative marketing techniques. For instance, the company normally uses prominent sportsmen such as tiger woods and Michael Jordan while marketing their products (Lussier & Kimball, 2009).
Weakness of the Company
Apart from strengths, the company also has a number of weaknesses. For instance, the company has had some management problems. Since resignation of the company’s founder in 2005, the company has had two CEOs in a span of two years (Lussier & Kimball, 2009). Apart from management issues, the company is also experiencing a decline in sales especially in the United States. For instance, there company experiences higher sales in continents such as Europe and Asia than in the United States where the Nike’s headquarters are located (Lussier & Kimball, 2009). This is due to high competition from other companies such as Adidas and Reebok that also specialize in production of sports accessories.
Opportunities of the company
The company has several opportunities that if properly utilized will result to an increase in the number of sales hence higher incomes. The company has signed an agreement with Apple Company that will see the company develop an application that is not only capable of recording the distance an athlete has run but also the number of calories burnt (Lussier & Kimball, 2009). The company’s idea of signing contracts with famous sportsmen such as Tiger woods and LeBron James to act as ambassadors of various sports gear isa good move. This is because when such people win competitions; this automatically converts to increased income because many people buy the products used by the sportsmen and women.
Threats of the Company
Some of the threats experienced by Nike Company arethe increased competition from other sportswear companies such as Adidas and Reebok. These companies use the same marketing techniques as Nike, for instance they also have their own brand ambassadors (Emery, 2011). The company also has had several management issues that if not solved earlier could result decline in production hence this will give its competitors an added advantage (Emery, 2011).
Nike Company is a multinational company that is globally recognized for its high quality sportswear such as sports shoes and balls. The company’s mission is to inspire all athletes whereas its mission is that everybody is an athlete so long as they have a body. Just like any other company, Nike has its strengths, weaknesses, opportunities as well as threats (SWOT). What makes the company different is how they handle their SWOT.
Frisch, A. (2009). The story of Nike. Mankato, Minn: Creative Education.
Lussier, R. N., Kimball, D. C., & Lussier, R. N. (2009). Applied Sport Management Skills. Champaign, IL: Human Kinetics.
Emery, P. (2011). The Sports Management Toolkit. United Kingdom: Taylor & Francis
Nike Inc. (2014). About Nike, Inc. Retrieved on 30th March 2014 from http://nikeinc. com/pages/about-nike-inc
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