Strategic Management and Strategic Competitiveness: Nike

Strategic Management and Strategic Competitiveness: Nike
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Introduction
Organizations strategically manage their operations to remain competitive. This paper analyses how Nike corporation has made this possible by adopting technological changes and globalization to achieve its objectives. Further, the corporation can earn above average through industrial organization and resource-based strategic models to expand its business through producing wearable devices and sports ware equipment (Kim, 2020). The mission and vision statement have influenced the company’s success by inspiring consumers and being innovative in production. Also, stakeholders such as customers, employees, suppliers, and shareholders have contributed to the growth of the brand.
Impact of Globalization and Technology Changes on Nike
Globalization
Globalization enabled Nike to transform from a small local brand to a worldwide shoe brand recognized in all countries. The corporation was able to identify emerging market needs following the global economic changes in the world and develop its products which attributed to its competitive advantage. Besides, the company has considered sourcing raw materials for manufacturing from different countries with favorable prices and special expertise. The corporation today produces its shoes in forty-two countries with its manufacturing sector having one million employees all over the world. Hence capitalizing on globalization by seeking low-wage labor for manufacturing its products while design and marketing are done from the US which has impacted its high revenue of thirty-six billion dollars and high stock shares (Nike, 2023). Despite the critics of ethical labor practices, the corporation addressed the matter thus promoting healthy labor relations and instilled transparency. Also, the corporation has adopted sustainable behavior in the manufacturing process with a focus on promoting a sustainable environment and improving community welfare.
Technology
Nike has adopted changes in technology to remain innovative and maintain its competitive edge. The corporation adopts new innovations such as creating patent-worthy innovations that outsmart the competitors. Additionally, partnering with tech giants, for instance, in 2017 the corporation demonstrated the ability of augmented reality and virtual reality, existing technologies that would enable the company to improve on design and end product. Technology has also impacted branding strategies as a marketing method that makes them visible to the target audience and maintains brand loyalty. Its digital platforms allow the company to connect directly with customers an e-commerce strategy that increases sales. Technology has enabled the corporation to gather information for data analysis to better understand customer taste and behavior, hence creating personalized marketing messages to improve customer experience. Maintaining customer experience has impacted the company’s success, for instance, in 2017, the company released a jersey with an NFC chip that intertwined the Internet of Things (IoT) and wearables that made the connection between basketball players and fans stronger.
Strategic M...