Nike Corporate Strategy
Mission Statement: “Our mission at Nike is to be a company that surpasses all others in the athletic industry”.
Competitors - Reebok
Threats Internal & External
Major and Subordinate Problems:
Finance –Declining stock market price.
Strategy Formulation- Loss in market share for shoes and apparel to non-traditional athletic companies . Marketing- Drop in sales revenues from campaign ads.
Public Affairs – Public outrage over manufacturing and labor practices.
What factors should we eliminate, create, or change?
Catering to new generation
Changing of demographics
Increasing financial recovery in overseas markets
Blue Ocean Strategy. Nike famously went from being a shoe company to being a global brand by doing things that no other company would have thought of doing. In addition to having a great product, Nike was one of the first companies to partner with graffiti artists to design their shoes. Nike now has a long-standing connection with the hip-hop community that has been a huge boost to their sales. It was risky for Nike to do, but they looked at what artists were doing and saw the underlying movement that they could align with.
This post comes out of requests from many readers to explain blue ocean strategy. Were listening when you're asking. So here it is
Blue ocean strategy is a relatively new framework of strategy which in many ways takes the older 5 force framework and brings it in relevance to the modern age of business. There is always the question - What framework do I use? The answer is it depends. Read on to find out more.
Blue Ocean strategy basically asks a company to go where the profits and growth are but where the competition isn't. In simple steps, the framework is to Create uncontested market space
Make the competition...