Nike strategic evaluation essay. Nike: A Review of Business, Corporate, and Global Strategies

Nike: A Review of Business, Corporate, and Global Strategies
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Introduction
Nike, Inc. is considered one of the leading companies in terms of sportswear and sporting equipment. This company was formerly known as the Blue Ribbon Sports which was originated in the year 1962 at Beaverton, Oregon. Through the years, the company has been expanding until such time that it was able to achieve international recognition as Nike, particularly in the year 1978 (“NIKE, Inc. - Company Profile, Information, Business Description, History, Background Information on NIKE, Inc.”, n.d.). In the year 2019, the company has its revenue of $37.2 billion with the North American region being the highest contributor to the said profit (Bajpai, 2020). This paper aims to evaluate all possible strategies of the company as to how it has claimed its fame today. The evaluation will be in the manner of reviewing their strategies at the business, corporation, and global levels. Also, this paper aims to recommend other possible strategies for a better performance of the company, especially in the future.
Business Level Strategies of Nike
Nike provides a vast array of items that are being sold to consumers. They offer products ranging from clothing lines to sporting equipment, and also shoes. Hence, consumers would tend to consider more of Nike, Inc. because of this company is already providing a lot of products that consumers may want to have (Leland, 2014). This is known as the consumer-focused strategy, as what the company calls it (Nike, 2010). Also, it is well-observed that Nike, Inc. is inviting high-profile personalities, particularly the very famous athletes as possible endorsers for their products. This strategy allows consumers to be swayed and to convince them that they have to buy products from this company because it has been advertised by these people with a reputation of being reliable in terms of telling people whether to buy these goods or not. Nike, Inc. also sees to it that their products are of high quality, hence, regardless of the high prices consumers would pay, they are still going to buy and patronize these items offered by the company (Leland, 2014). Nike, Inc. also seeks partnership with other companies to produce and offer luxury line products. An example of this is the Supreme x Nike Dunk Low Pro SB which is a collaborative product of both Supreme and Nike. Hence, this widens the business scope of Nike, Inc (Wong, 2019). According to Ros (2011), the company remains to be competitive within the industry because of its dedication to have a cost leadership, to have different product choices, and to consider several target markets and consumers. The company is open to the demands of its target market that is why it keeps on innovating products that seem to be very much evident up until today (Hopwood, 2019).
Corporate Level Strategies
A major corporate level strategy of Nike, Inc. is expansion. The company envisions itself to profitable for a very long time. Nike, Inc. is known to produce products with high quality which could be a corporate level strategy. However, another strategy related to expansion is the dedication of the compan...