Description:
When you think about sports, what comes to mind? The different types of sports that exist, athletes, or the product? The product that coexist with sports is crucial in many aspects, in some cases it actually defines the sport or the athlete. One of the most famous and popular product line is Nike. Nike was founded in 1962 by Bill Bowerman and Phil Knight as a partnership under the name, Blue Ribbon Sports. It has greatly evolved from a sports company selling Japanese athletic shoes to the famous dominating company it has become across the sport nation. I will go in deeper into Nike in this SWOT analysis and determine its business ethics and social responsibility.
Strengths:
For Nike there are many strengths to its company. One in point is its competitiveness amongst other companies in the sports and athletic industry. As Phil Knight is quoted often “business is a war without bullets.” With Nike’s great dislike in it’s competitors provides a strength for them hence them being one of the most successful sports companies. Another strength for Nike is its efficiency in creating its product. Nike doesn’t spend much time in money in creating factories to produce its product. Nike goes to places where they can produce their product at the lowest cost while maintaining the same quality or better specifications of their product possible. This allows them to use other possible resources in an effective social way. Another strength for Nike would be its logo design of the swoosh. It can be noticed by anybody which allows them to separate their product line in a unique, fashionable, and obviousness from other companies.
Weaknesses:
Although Nike has a wide arrange of sports product, it does however greatly depend on its footwear. If the footwear market were to erode at all, it would put Nike in a vulnerable spot. Another weakness for Nike is in the retail sector. Nike does majority of its sales through selling into retail. The retail...