Innovation Strategy

Topics: Design, Sustainability, Strategic management Pages: 4 (1244 words) Published: September 12, 2011
Introduction
Nike is a company that has been around for a long time. The ability to have a company this successful is to understand what your customers want. In today’s society “going green” has become important to all. When watching any sports shows you see many athletes wearing some sort of Nike apparel. Nike supported their initiative by designing a program that would reduce the use of natural resources such as oil and water (Rudenko, 2010). The tool is the Environmental Apparel Design Tool. The goal is about making this simple for designers to make the best choices at the beginning of the creation of the product (Rudenko, 2010). Nike recognized the decline of the natural resources and the need to make a low-carbon economy (NIKEBIZ, 2011). The tool is a practical way to rate how apparel designs rate in the reduction of waste and increasing the use of the environmentally preferred materials and allows the designers to make real time adjustments (NIKEBIZ, 2011).

Nike’s Innovation Strategy
To successfully implement an innovative strategy, a business must align the strategy with the mission statements and values of a business and with the future of technology of the manufacturing strategies. An innovation strategy provides guidance in business decisions on how resources are to be used to meet a firm’s objectives for innovation and thereby deliver value and build a competitive advantage. It helps the business change or improves its corporate strategy and objectives in order to focus on the future of the business (Lendel & Varmus, p. 2, 2011). Innovation is at the heart of Nike’s business strategy (Nikebiz, p. 24, 2009). Nike's mission is "to bring inspiration and innovation to every athlete in the world, and to represent the highest service standard within and beyond our industry, building loyal consumer relationships around the world" (Nikebiz, 2009). Nike’s goal and part of the company’s continuous strategic plan is to develop products...
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