Nike strategic management. Management Coursework.

Nike Strategic Management
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Nike Strategic Management
Nike Inc. is a sportswear and other apparel which and is based in the United States of America (U.S.). The company has grown to become one of the most renowned and established brands in the world. Nike distributes its products not only domestically but also globally in different parts of the world. Currently, the company does not only manufacture and distribute athletic shoes only as it is involved in the production of athletic apparel, sports equipment, and subsidiary ventures. Over the years, Nike has strived to expand to its brand by the adoption of different development and operational techniques and strategies. Nike is also faced by competition from other giant companies such as Reebok, Puma, and Adidas, which are firms that produce products that are almost similar to Nike's (Childs & Jin, 2018). Nike has adopted several components in its strategic management process to ensure it is successful. These components have to be integrated to ensure they create value for the organization. On the other hand, Nike has a mission statement, vision statement, motivation strategy, and innovation strategy, which define how the firm relates to various stakeholders (Joachim, 2010). Also, Nike has adopted a strategic planning process that entails ethics and corporate social responsibility activities.
Strategic management is a technique Nike Inc. uses to analyze its current position in the market and predict its future performance. It is a process that has significantly helped the firm's managers to establish and lay out their plans and also be able to move Nike to greater heights in the ever-competitive market. In this sense, Nike’s management has integrated several strategic management components like vision, environmental analysis, strategy formulation, strategy implementation, and strategy assessment (Childs & Jin, 2018). Notably, these components have been essential in assessing the firm's current and future performance.
Nike has been able to establish its business plans by use of strategic management to ensure the assessment of its business areas. The process is essential in ensuring that managers can come up with strategies that will improve the firm’s performance in the market. It also involves analyzing competitors’ current and future techniques and approaches. Over the years, Nike has utilized strategic management tools, which have helped the company analyze its present as well as predict how it will be in the future. In this sense, strategic management is used as the road map, which guides managers in following directions to ensure they elevate the company to desired heights and positions.
The first component of Nike's strategic management process is environmental analysis. This is the process in which the company collects information and data from both internal and external environments. The management analyses environments which have impacts on the operations of the organization. This component aims to ensure that Nike can improve its processes by analyzing its competitors, employees, products, and suppliers. The next component of the firm's strategic management process is strategy formulation...