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Running head: Nike’s strategic plan analysisNike’s strategic plan AnalysisStudent’s nameInstitution affiliation
Nike’s strategic plan analysis 2Executive summaryThis strategic plan analysis focuses on Nike, a world's leading incorporated company. The company began as Blue-Ribbon sports in 1962 and later became Nike Inc. The plan shows previous and current Nike strategies that are already there and its future layout. The strategic plan helps the organization's leadership remain on track and make sure that the company is still focused on its goals and mission. The strategic plan helps the organization to continue working hard for its success. The project has also highlighted the future and long-term plans of the organization and its leadership. The strategic plan is not limited, and it entails the SWOT analysis. It has also mentioned the mission and vision statement of Nike to relate to how the company is fairing. Nike has a new Mission statement "Do everything possible to expand humanpotential." It also has a new Vision statement "To bring inspiration and innovation to every athlete in the world." The paper also shows the financial data in three years, Nike's objectives, and the action plans. The recommendations are based on the threats and weaknesses which the company experienced.
Nike’s strategic plan analysis 3Background informationNike is a multinational marketer of athletic footwear and is located in Beaverton, Oregon,in the United States of America. It held 37% of the global market and was initially founded for Japanese shoe importation. The company products are sold worldwide, reaching over 160 countries, and 22,000 retail accounts receive Nike products in the United States. Factory outlets and Nike towns ae some of the Nike stores where Nike operates both domestically and overseas. Nike is mainly involved with the development, design, and marketing, but the manufacturing of the products is done by contractors who are mainly located overseas. Nike brand also sells its footwear under Jack Purcell, All-star, Chuck Taylor, and Converse brands. Other brands have partnered with Nike like Exeter Brands Group LLC to channel their retailing products. Nike has been innovating through designing its products and marketing strategies, such as heavy promotion to improve its growth in foreign markets and U.S (Nike Inc, n.d.).Philip. H. Knight, a track athlete from the University of Oregon and Bill Bowerman, Coach Knight in the University of Oregon, are the founders of Nike. In 1962, Knight came across a Japanese firm that was producing shoes and was willing to import some to the United States. In the process, the Blue-Ribbon Sports (BRS) emerged because he had to convince his partner from Japan that he had an actual company. His co-founder Bowerman was experimentingwith running shoes that were modified to make improvements in designs of BRS prototypes. In 1968, a shoe named Cortez became a massive seller, and that was their first breakthrough. The