DUE TOMORROW: NIKE Project Plan PowerPoint Presentation - RISKS and develop a contingency plan

BUS/475 v11

Project Plan

BUS/475 v11

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Project Plan Template

Project Title: Title: Nike’s Untapped Potential

Relationship marketing is a sales strategy that is founded on connections, networks, and interactions. It entails all marketing actions aimed at creating and sustaining fruitful relational interactions. Based on this idea and feedback from other research methods (such as online discussions, consumer surveys, and SWOT analyses), Nike has the potential to further reinvigorate its marketing approach and reduce workloads and lead times significantly; by combining various processes and technology innovations.

Project Objectives:

· Identify the most effective strategies that can help maximize Nike’s market value.

· Improve customer service by answering questions, resolving support issues, and maintaining a good relationship with them. 

· Fast track the delivery of services and maximize the organization’s resources.

· Understand how intangible assets such as human capital, information capital, and organizational capital generate value

Financial objectives

From a financial point of view, the strategic financial management approach prioritizes business objectives over short-term gains to drive decision-making. Strategic financial management, in addition to supporting a firm in creating and accomplishing its aims, establishes a platform on which it may develop and control strategies to handle issues as they emerge (Bright, Cortes, Hartmann, Parboteeah, P., Pierce, Reece, & Shah, 2018). Furthermore, it outlines the steps the company will take to meet its objectives. Nike's strategic finance manager strives to develop the most effective ways for increasing the company's market value. Furthermore, it ensures that the organization's strategies are carried out efficiently to meet short- and long-term objectives and maximize shareholder value. Its purpose is to meet the organization's business goals via managing financial resources.

Customer objective

Customer service's major purpose and objective is to answer customers' concerns, fix support difficulties, win their trust, and sustain connections. Companies understand the value of customer service, but not all of them do. To promote client retention and grow revenue, a firm must strengthen its reputation and sustain customer loyalty.

Learning and growth objectives

One major goal of Learning and Growth is to comprehensively understand how the company's intangible assets give value to the organization (Niven, 2018). Examples of these assets include organizational capital, human capital, and information capital.

Human capital

Employees must have the essential knowledge and abilities for the business plan to succeed. Positions crucial to strategy implementation should be staffed with the finest personnel available. In other words, there should be no skills gap in these roles. To attain this purpose, it may be required to use training, legitimate selection methods, and appropriate succession planning.

Information capital

The information capital strategy is implemented using information systems, networks, and infrastructure. Information technology should be properly aligned with preexisting technology in order to achieve the strategy's objectives.

Organizational capital

Effective change management across the company is critical for implementing the plan. The leadership teams must evaluate their business culture frequently to ensure that it subscribes to the firm's objectives (Bright, Cortes, Hartmann, Parboteeah, P., Pierce, Reece, & Shah, 2018). If not, there might be a need to change how employees are rewarded and encouraged in order to connect their activities with the company's goal, values, vision, and strategy. In addition, the organization may need to think twice about the caliber of personnel it employs and chooses, as well as its training program.

Why are the metrics and timelines appropriate?

According to the schedule, firms typically have financial periods that last one year and are separated into quarters. As a result, measuring development after one year, when the fiscal year ends, is only relevant (Niven, 2018). Another reason why one year a suitable schedule is is because the funding is allotted to different firm operations each year. As a result, if resources are insufficient for a certain aim, additional might be shifted to that activity. For one reason, the steps are appropriate. They are practical and not overly ambitious. The highest limit has been set at 5%, which is a brilliant move.

References

(Author), Frank Neuhausen. “Marketing of Nike. an Analysis of Relationships with Customers and Suppliers.” GRIN,  https://www.grin.com/document/318400 .

Bright, D. S., Cortes, A. H., Hartmann, E., Parboteeah, P., Pierce, J. L., Reece, M., Shah, A., …​​ OpenStax (Nonprofit organization), (2019). Principles of management.

Godson, Mark. “Relationship Marketing.” Google Books, OUP Oxford, 26 Feb. 2009,  https://books.google.com/books/about/Relationship_Marketing.html?id=PpkrAQAAMAAJ .

Niven, P. R. (2018). Balanced scorecard step-by-step for government and nonprofit agencies.​ Hoboken, N.J: J. Wiley & Sons.

Copyright 2020 by University of Phoenix. All rights reserved.

Copyright 2020 by University of Phoenix. All rights reserved.