DUE TOMORROW: NIKE Project Plan PowerPoint Presentation - RISKS and develop a contingency plan
Contingency Plan & Executive Presentation
University of Phoenix
BUS/475: Integrated Business Topics
Professor: Mark Guberman
Presentation Contents
Identify
Nike Inc: Mission, Vision, Values Structure & Culture
Synthesize
SWOT analysis and market trend research
Explain
Explain how the project objectives will advance the organizational goals
Assess
Assess how success will be measured
Evaluate
Evaluate the value this project will bring to the organization
Identify
Identify project metrics, timelines, and responsible parties
Develop
Develop a contingency plan for each of the potential risk factors for not meeting each of the project objectives
Identify the organization’s information
This Photo by Unknown Author is licensed under CC BY-SA-NC
Mission - Nike’s mission is, “To bring inspiration and innovation to every athlete in the world.” This statement focusses on the influence that Nike has in the sports sector specially resounds the ability of this company to stimulate and turn athletes into their best versions.
Vision – “To do everything possible to expand human potential.” Although precisely crafted, this statement shows that the company does not limit itself Nike See's a world where everybody is an athlete — united in the joy of movement.
Values - Innovation, authenticity, focused on sustainability and solving the prominent environmental issues we face, drives Nike to do everything possible to expand human potential.
Structure - Nike company structure reflects the abilities and limits of the business in its operations. Nike Inc. has developed its organizational structure to enable adjustments in dealing with market differences. Nike Inc applies market structure known as Geographic Divisional structure. This is a market structure where a company is divided into divisions based on the regions, territories, or districts. Each division makes its own decision based on local preferences, market, and requirements. This allows for quicker response to industry changes or customer needs.
Culture – Nike is centered on creativity and innovation to provide products that suit current consumer preferences. At Nike, it’s in their nature to innovate and their mission is to bring inspiration and innovation to every athlete in the world. Organizational culture is the combination of traditions, habits, values, and behavioral expectations among employees. Nike`s business culture supports creativity capability and resilience in business. The employees at Nike Inc have a set of Instructions, expectations, and rules on how to conduct themselves and how they should relate with customers and other employees.
3
Mission
Vision
Values
Structure
Culture
Synthesize the SWOT analysis and market trend research
| Strengths | Weaknesses |
| Nike has a strong brand value and awareness. In addition, it has other successful side brands such as Hurley and Converse which has enabled it to enjoy unparalleled success for years. A strong customer base all over the world and thus boasts of a high market share (Cara, 2021). It has a strong iconic relationship with famous sportsmen such as Michael Jordan who market its products (Foong & Yazdanifard, 2014). Nike has a superior marketing capability, and it has extensively utilized social media to target more customers. | High dependency on the U.S. market for sales and revenue. Poor labor conditions such as child labor and low wages for its workers in foreign countries this has made them a subject of scrutiny (Xu & Leibold, 2020). Nike's retail sector weakens its market grip since it is sensitive to pricing. Since they serve as Nike's core customers, the company does not fight their pricing strategies. Lack of diversification since Nike greatly depends on sporting apparel and in low-sports seasons such as during the pandemic, it suffered huge losses. |
Synthesize the SWOT analysis and market trend research
| Opportunities | Threats |
| Innovation - new products such as wearable technology can prove beneficial for Nike since they will contribute toward product diversification. Emerging markets – Nike has an opportunity to tap into new markets such as China and India. Reducing its association with big retailers – This will ensure better positioning of its products and thus enhance customer experience. Shifting to digital business and closing physical stores- This strategy will enhance its consumer-direct strategy and accelerate its sales. | Increased competition from new emerging brands. This forces Nike to spend more money on advertising and marketing. Numerous counterfeit products can significantly tarnish its brand image. Fluctuations in foreign exchange rates. It reports its financial earnings in the U.S. dollar which is volatile against other financial currencies. Economic uncertainty and trade tensions especially since it depends on different markets across the world. This may negatively affect its sales and revenue. Patent disputes can tarnish the company’s brand reputation |
Explain how the project objectives will advance the organizational goals
Assess how success will be measured
Evaluate the value this project will bring to the organization
Identify project metrics, timelines, and responsible parties
Develop a contingency plan for each of the potential risk factors for not meeting each of the project objectives.
Develop a contingency plan for each of the potential risk factors for not meeting each of the project objectives.
Develop a contingency plan for each of the potential risk factors for not meeting each of the project objectives.
References
Cara, S. (2021, Nov 4). Nike is on track to make $50 billion this year. How much is that, really? Retail Dive. https://www.retaildive.com/news/nike-is-on-track-to-make-50-billion-this-year-how-much-is-that-really/608511/
Foong, L. S., & Yazdanifard, R. (2014). Celebrity endorsement as a marketing tool. Global Journal of Management and Business Research, 14(4), 1-4.
Ramaswamy, V. (2008). Co‐creating value through customers' experiences: the Nike case. Strategy & leadership.
Xu, V. X., & Leibold, J.A (2020, March 17). Your favorite Nikes might be made from forced labor. Here’s why. The Washington Post.https ://www.washingtonpost.com/opinions/2020/03/17/your-favorite-nikes-might-be-made-forced-labor-heres-why/