In this assignment, you are to use the same corporation you selected and focused on for Assignments 1, 2, and 3.Consider the corporation you have selected to use in your first three assignments. Ident

Week 3 Assignment 1

Strayer University

BUS499 Business Administration Capstone

Dr. Grizzell

01/20/2019

April Monk

Introduction

The Nike company is a giant multinational company whose mission is to produce and market footwear together with other accessories. Additionally, the company offers services and sells other equipment. the company is affected by both external and internal factors. Given that the company is a leading supplier in athletic apparel and footwear, it records huge revenues. The company was listed in 2018 as number 89 in the Fortune 500 category of giant companies in the United States. The list is based on how much revenue a corporation makes. Nike is the most expensive sportswear company with a net worth of approximately $29.6 billion as at 2018.the corporation supplies sportswear worldwide. additionally, the company has embraced technology which ensures that it maintains its sales. The company has more than 74,400 employees worldwide. Although the company makes huge profits, application of industrial-based model and resource-based model can increase returns to above average. The company’s vision and mission contribute to its success (Nike, 2010).

Globalization

Change in global trends has hugely affected the Nike Corporation. The company has opened a total of 45 offices all over the world excluding offices located in the United States. The company has spread it tentacles to other continents becoming a member of almost all sport events. Nike products are distributed through the contracted shops spread all over the world. In total, the company has 700 shops outside United States. Globalization has expanded the company’s net worth by increasing sales. This ensures that the company is able to compete with other similar sportswear firms. The company is able to reach its customers all over the world due to its marketing designs. Nike has embraced globalization as a marketing strategy and this ensures that its products reach all potential customers. additionally, the company has entered into marketing agreements with global marketing companies such as Amazon and Sweatshops. Globalization has also affected the way this company undertakes its advertisement campaign. The company has now embraced global trends of advertisement such as celebrities and international athletic teams. The company has also entered into official contracts with major leagues such as the National Basketball Association (NBA) to become their official uniform supplier.

Technology

Nike has incorporated new technology in its production process. The company applies new and innovative technology in manufacturing, marketing and customer services. The company was among the first global corporations to adopt marketing using the internet, managing its operations and communications via email technology and applying advanced communication technologies such as Broadcast. Application of such technologies in marketing has been instrumental in increasing sales. Through internet marketing the company is able to advertise its brand to potential customers. This advertising model has also increased the number of purchases since willing buyers can shop online. The company’s products can be located and purchased online. The company’s embrace of online shopping is an integral factor in the evident growth in Nike brand and increased customer satisfaction.

The manufacturing process at Nike adopts new technology. Most of the merchandize are in line with global trends such as incorporation of footwear with Bluetooth. The company also produces products which can be incorporated with a chip that efficiently controls numerous functions. The products are incorporated with new technology such that the new features allow users to perform less functions. The company simply makes it easier to enjoy sports while ensuring that the products control user functionality. Embracing such technology has led to more individuals preferring Nike products. This has eventually led to growth in customer base thereby increasing Nike’s revenue.

Industrial-Based Model

The company strategic actions are influenced by external factors. These are the factors outside the company which directly affect the company’s operations. Nike company is highly influenced by its customers. This is the biggest external factor affecting this company. The company should come up with new methods of improving customer satisfaction while ensuring that it attracts more customers. This can be achieved through an intensive social media campaign advertising its brand and attracting potential customers. The company also operates in different countries thus it is highly affected by different governmental policies. Nike should understand government policies in different countries to ensure easy ways of doing business. The company can also fund some government projects to improve their marketing strategy in those specific countries. Nike faces huge competition from similar companies such as Adidas. The company has embraced new technology to improve customer satisfaction. The decision-makers in the firms also ensure that all their designs are such that they improve the corporation’s social and financial position.

Resource-Based Model

The resource-based model is purposed to look into how a company can apply its resources and other internal factors so as to increase returns to above average (Scott, 2016). The model is founded on the idea that the company’s strategies are based on its resources and unique features. additionally, the model assumes that each company has in the past been involved in developing unique capabilities and resources which improve its ability to compete with other similar corporations. Nike company should employ individuals with unique skills and knowledge which embrace new innovations to increase competitiveness. The company has numerous resources in terms of finances, productions lines, management and human resource. Nike should use this specialized resources within its internal environment to increase production. The company should also contract more firms in its manufacturing and marketing strategy.

Vision

Nike’s vision is an important ingredient to its success. The vision is an exact representation of the fact that the company is a giant athletic sportswear company. Nike’s vision statement is “to remain the most authentic, connected, and distinctive brand (Nike, 2010).” Nike works around this vision with its major aim being to continuously grow its brand. The company’s vision has particular words which shift focus towards brand development. This statement poses the idea that Nike’s brand is already authentic and relevant to the customer needs. The company also poses to continue producing better products. This has catapulted Nike into increasing sales since customers are satisfied with its products. The vision statement is central to Nike’s marketing strategy.

Mission

The mission statement is important in ensuring that a company competes well and increases its global reach. Nike’s mission statement is, “to bring inspiration and innovation to every athlete in the world (Nike, 2010).” the company attracts individuals into buying its products by positing that every human being is an athlete. The company’s mission is aimed at ensuring that individuals are interested in athletics by inspiring and creative innovative products. This mission statement is pivotal increasing growth and competition. Nike’s mission is designed to target every individual as a potential customer

Stakeholders

Company stakeholders determine the level of success. These individuals are instrumental in supporting the company’s new and existing policies. Nike’s stakeholders include investors, management and employees. These individuals act in ways which favor the growth and development of the company’s brand (Abiodun, 2010). The stakeholders are also integral in managing Nik’s resources, marketing finished products and advertising their Barns. The success in the production process and marketing is directly proportional to the actions of stakeholders.

Abiodun, A. (2010). Interface between corporate vision,mission and production and operations management. Global Journal of Management and Business, 10(2), 18-22.

Nike. (2010, May 23). Nice Inc'.s Website. Retrieved from NIKE: http://www.nike.org

Scott, J. (2016). Empowering your teams will help you successfully implement your corporate vision. Strategic Finance, 12-13.