Posted on Sept. 18, 2021, 6:51 p.m.
Gathering the most imaginative personalities from across an association to work together in a fun workspace would not be so beneficial without a stable leadership setting rules to adjust the group. Setting precise meanings of "how to work" gives the motivation needed, and it tells what kind of output is expected. The motive behind this literature is to look into and analyze the speculations of the NIKE Corporation management. The accentuation is made on the organization's peculiarities, strategic planning, leadership, innovation changes and management.
NIKE principle objective (vision) is to carry on its founder's legacy of innovation, whether to create products that aid athletes of all levels of capacity to reach their potential or to formulate business openings that would drive Nike to a higher level and offer additional benefits to its stakeholders (Rehman, 2017). Notably, Nike's principle competencies are innovation, development and research, marketing and effectual exploitation of globalization (Curtis & Hansson, 2019). The company's target market is both males and females who incline toward a dynamic way of life and products of high quality.
Nike utilizes strategic planning and different planning methods in its routine. The first idiosyncrasy of the organization's strategy is to carry out its marketing and promotion by offering innovative products to proficient athletes and by this, implies conveying the news and design of the new product to specific clients (Li, & Leonas, 2019). Nike's technique additionally centres on diversity in the working environment. Remarkably, this strategy corresponds to the organization's mission statement and vision. Among the methods that Nike employs are: benchmarking, contingency planning and scenario planning.
Nike's hierarchical structure is divisional, yet it has a functional sub-division. Every sub-department is charge of particular tasks. Nike, subordinate staff reports to respective divisional managers and they then report to the C.E.O (Snow, Miles, & Allred, 2003). The operations branch is utilized to direct appropriate communication among divisions. Management is moderately decentralized in NIKE. It implies that most opportunity in essential leadership is assigned to lower-levels of management. The advantages of such an approach are: they are better roused, and stable leadership is guaranteed all through the organization and lower-level managers give relevant data concerning nearby conditions. NIKE's administrative controls are firmly associated with the use of Informational innovations.
Nike can guarantee her marketing plan by controlling top management measures and, with appropriate guidance to its entire departments (Mahdi, Abbas, et al. 2015). NIKE objectives can be restoratively accomplished by appropriate check and balance of the organization market shares, benefit, budget, consistent analysis of all its departments and sales with the goal that the marketing plan could be fully adhered to and meet its objective.
Through appropriate setting of budgets, milestones, and selecting a department to tend to a marketing communication objective, research and channels, therefore, the marketing plan could be timely administered and with few misconceptions (Twumasi, 2018).
On the off chance that all the set standards and measures would not meet under the marketing plan implementation, then an elective plan ought to be there to outline the marketing plan. The elective plan should include; a back-up resource in regard to extra budge plan, a solution for a new design and communication channels, redesign or redefine a marketing strategy and plan.
The core of the NIKE organization is its product. Delivering merchandise that is high in quality, fashionable and technologically advanced will enable the organization to accomplish corporate objectives of productivity and stakeholders' value. Using this strategy will likewise permit to underwrite critical opportunities. The global economy is winding up so reliably that by improving its products to extend their dominance, the association will make a long haul interest in this financial blast. The products will have the capacity to withstand the risk of fading away. Incorporating new fashion into the products is one approach to accomplish this technique. These alternative marketing strategies will be fundamental to consolidate products into the shopping propensities of consumers.
From a company and marketing analysis view, Nike has the possibilities to carry out its goals and continue to offer new products and grow her shares. By having an overall overview on NIKE’s objectives and strategies, the following is recommended:
1. It can have a suitable management by having overviews on work issues.
2. It can incorporate online athletes’ training as well as promote product awareness.
3. The company ought to increase its marketing technique by using channels such as social media. The company should broaden its production range.
4. The company should partner with technology companies in terms of further promoting their product, for example through E-games features.
5. NIKE could merge with other companies to actualize its Global development and grow her business to accomplish feasible, long-term development over its global business portfolio.