Conceptualizing a Business

Categories: Business

Nike belongs to the Consumer Cyclical sector and Industry of footwear the symbol is NKE. Nike began its operation on January 25, 1964 under the name of Blue Ribbon Sports by Bill Bower man and Philip Knight, in 1978 it was renamed Nike, Inc. Nike products are a brand, It’s a major publicly trader sportswear and equipment provider based in the United States. It is the world’s leading supplier of athletic shoes and attire and a major producer of sports equipment. Operate and oversee in more than 160 countries around the world.

Through the help of suppliers, transporters, merchant and other service providers, Nike directly or indirectly employ almost one million employees. The company operates retail stores under the Nike town name. Nike sponsors various high profile sportsperson and sports teams from allover the world, with the well-known trademarks of Just do it and the Swoosh logo. “Just do it” and the swoosh checkmark have acknowledged Nike and its products around the world for 20 years exclusive of the company name (www.

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Nike. com). Mission Statements are “durable statements of purpose that differentiate one business from other related firms”.

It identifies the scope of the firm’s procedure in product and market terms. It tackles the basic question that appears to all strategists: What is our business? An unambiguous mission statement depicts the values and main concern of an organization. Developing a mission statement compels strategists to think about the nature and scope of the present operations and to review the potential fascination of future markets and activities.

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A mission statement broadly maps the strategic direction of an organization (David, 2008).

An example of a mission statement is presented as follows for Nike: Mission Statements of Nike over the years of journey: • To provide programs, services, and supports for eligible residents of Clinton County which will assist them to live, work, learn, and play in their community. • To experience the emotion of rivalry, winning and pressing competitors. • Innovate for a better world. Business: The mission statement of Nike clearly depicts the nature of the business which is Nike’s business activities can be described as follows: design, development, and global marketing of high quality footwear, equipment and accessory products.

Products ; services: Nike is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Customers: Function in more than 160 countries around the globe and operates in a market that is consumer-oriented. The Nike’s goods demand heavily depends on the status of the miscellaneous fitness activities. The company modifies constantly their product mix in order to meet up with demands.

Nike runs its business vigilantly and led in aggressive marketing approach and novel products. Vision statement of Nike: Vision statement answer the question what do we want to become? Developing a vision statement is pondered the initial step in strategic planning. Mostly vision statements are of single sentence. For instance as follows: • To convey inspiration and innovation to every sportsperson all over the world. If you have a body you are an athlete. ” — Bill Bower man.

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Conceptualizing a Business. (2020, Jun 01). Retrieved from https://studymoose.com/conceptualizing-a-business-new-essay

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