management And Business Strategy oF Nike †MyAssignmenthelp.com

Question: Discuss about the management And Business Strategy Of Nike. Answer: The Nike Company was founded in the year 1962 by Bill Bowerman and Phil Knight in the form of a partnership under the name of Blue Ribbon Sports. The main focus of the company is the athletic footwear which are majorly designed for specific sport or leisure uses. Despite the popularity and the trust of the brand, there are challenges in the path to success. The athletic footwear industry is a challenging and saturated market. There is strong competition, fashion trends and the price conscious consumers have been responsible for the slow growth in the industry. There have been instances where sales have been sluggish but the manufacturers have combated them with styles which have been radical and new offering more styles at price points which are lower (Carr, 2013). Themanagement at Nike which is a talented and experienced team has always analysed its internal environment and made decisions which are correct on the basis of that analysis. The company has made a decision to revamp the apparel division in order to be tuned with the current fashion trends and much more fashion study. The company has always focussed on the marketing strategies and product offerings by the method of product differentiation. It has utilized the team mentality as well as individual aspirations in the designs and the adaptability of the sportswear it has to offer. Nike faces stiff competition from other competitors like Adidas among others (Nisen, 2013). It can be said that Nike belongs to an industry which offers quite good prospects for attractive profits. What needs to be kept in mind is that the brand needs to be at the top of the game and manufacture products which are in tandem with the changing needs of the market. In case the company can meet the changing needs of its target customers namely the youth and sportspersons, it will be able to garner considerable profits (Peteraf, Gamble Thompson 2014). References: Carr, A. (2013). Nike: The no. 1 most innovative company of 2013.Fast Company,11. Nisen, M. (2013). How Nike solved its sweatshop problem.Business Insider,9. Peteraf, M., Gamble, J., Thompson Jr, A. (2014).Essentials of strategic management: The quest for competitive advantage. McGraw-Hill Education.