Business Ethics and Stephanie Wallace Nike

Topics: Business ethics, Ethics, Corporate social responsibility Pages: 5 (1907 words) Published: September 14, 2010
Business Ethics

This paper analyzes the commitment to Nike’s internal and external stakeholders. Their marketing operations, corporate social performance, special interest groups, as well. Stephanie Wallace

Nike Inc takes pride in being an ethical company. Nike places their responsibility to their stakeholders, internal and external, at the top of their priority list. They expend great of time, money, and resources to ensure that they are fulfilling their ethical duty, and achieving the highest standards of ethical responsibility. Because of Nike’s efforts to maintain their ethical integrity, Nike is a good corporate citizen. Nike’s motto says that Nike Inc was founded on a handshake. Their goal from the beginning was to build business with their partners based on trust, teamwork, honestly, and mutual respect. “Nike has a commitment to management practices that respect the rights of all employees, including the right to free association and collective bargaining, a commitment to minimizing their impact on the environment, providing a safe and healthy work place, and promoting the health and well-being of all employees.” This is Nike’s code of conduct; which is translated and posted in all major Nike workplaces across the world, which exemplifies the commitment to ethics and the Nike stakeholders ("Nike's Labor Practices." , ICMR. 2002). Nike views all of its stakeholders as important components to the success and sustainability of Nike Inc. According to the Stanford Research Institute in 1963, a stakeholder is a member of a group whose support is necessary for the firm to continue to exist. In other words, a stakeholder is any group that has a vested interest in operations of a firm (Stanwick 35). In Nike’s code of ethics, three stakeholders are mentioned. The stakeholders that are mentioned in the code of conduct are management, employees, and the environment. If it were not for those three components, Nike would not be able to continue to exist as a firm. Nike Inc, being one of the most well known companies in the world, has many external stakeholders. Some of the most important external stakeholders to Nike are the environment, and the community. “In the Nike code of conduct, (Nike's New Game Plan for Sweatshops, 2004), Nike Inc stats that one of their goals is to minimize their impact on the environment.” In partnership with the World Wildlife Fund, Nike Inc is part of an alliance called Climate Savers with other leading global corporations supporting global action on climate change. Nike is committed to supporting a new energy future for our nation and the world. Nike was recognized for leadership in climate change from the World Wildlife Fund in 2007 for reducing its annual C02 emissions to 18 percent below its 1998 levels ("Nike Ethics" Slide Share Present Yourself, 2007). The company is committed to building awareness of the impacts of climate change and leading its voice to the call for urgent global action. Nike is very committed to the local and global community. “At the core of the Nike brand is passion for sport and the role it can play in life.” It’s a belief that sport plays a critical role as a source of empowerment to help people reach their full potential. In particular, Nike sees sport as a means of challenging racism, resolving conflict, building leadership and teamwork and enhancing life skills for youth. Used positively, sport becomes a powerful tool for youth inclusion, helping them fully participate in the social and economic opportunities in their community,” ("Nike's Labor Practices." , ICMR. 2002). Nike Inc is trying to make a world impact by using sports as a tool for social change. In 2008, Nike held the Homeless World Cup in Melbourne Australia. As another example of the impact Nike is trying to have on the global community is the work Nuke is doing in Africa against HIV/AIDS. Nike was commended by the Global Business Coalition on HIV/AIDS for its campaign in South...

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