Part of a group project. I am to discuss the firm’s overall strategy and organiz

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Part of a group project. I am to discuss the firm’s overall strategy and organization and product design steps
Need rewritten for clarity and plagaism
History
Headquartered in Beaverton, Oregon, Nike Inc. is the largest seller of athletic footwear
and athletic apparel in the world and is traded on the New York Stock Exchange.
For the fiscal year ending Number #1 sports brand in the world
As of May 2022 Nike has a market cap of $174.88 Billion. This makes Nike the world’s 60th most valuable company by market cap according to companies market cap.com(Nike (NKE), n.d.)
Nike sells their products in 170 countries.
With more than 73,00 worldwide employees. (wikipeida)
Nike follows geographical divisional structure to facilitate customers in different areas.
MISSION:
BRING INSPIRATION
AND INNOVATION
TO EVERY ATHLETE*
IN THE WORLD
.
NIKE Inc (NIKE) designs, markets, and distributes athletic footwear, apparel, equipment, and accessories for men, women, and children. It markets and distributes various products for kids and for other recreational and athletic activities such as football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities and various apparel with licensed college and professional team and league logos. The company markets these products under various brands including Nike, Jordan, and Converse. Nike sells these products through the company-owned retail stores, e-commerce portals, independent distributors, licensees, and sales representatives located worldwide. It also merchandises these products through its e-commerce portal nike.com. It has a presence in the Americas, Asia-Pacific, the Middle East, Africa, and Europe. Nike is headquartered in Beaverton, Oregon, the US. The company reported revenues of (US Dollars) US$44,538 million for the fiscal year ended May 2021 (FY2021), an increase of 19.1% over FY2020. In FY2021, the company’s operating margin was 15.5%, compared to an operating margin of 7.2% in FY2020. In FY2021, the company recorded a net margin of 12.9%, compared to a net margin of 6.8% in FY2020. The company reported revenues of US$12,248 million for the first quarter ended August 2021, a decrease of 0.8% over the previous quarter.
Nikes corporate structure
Nike follows geographical divisional structure to facilitate customers in different areas Moreover, it is divided into there are functional departments under the Global corporate leadership, The global corporate leadership at Nike which involves corporate leaders makes sure to implement policies throughout the company that is, in all divisions.
Under this leadership comes a functional structure that divides finance, global human resources, product & merchandising, administration &legal, global sports marketing, and operations departments.
North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging markets are the regional divisions of Nike structure. The operations of each division are separate from each other. The regional areas are divided by Product line. The Three lines are
.Footwear
The flagship product of Nike, Inc. is shoes. Along with manufacturing shoes specific to many on-field games like baseball, golf, soccer, basketball, tennis and volleyball, Nike also produces shoes meant for consumer fashion such as Mary Janes or flip-flops. They have numerous other offerings when it comes to shoes meant for running, cross-training, bicycling, wrestling, cheerleading, auto-racing, aquatic activities or any other athletic and recreational purposes.
Apparel
Moreover, Nike also manufactures apparel for sports activities for both men and women. Nike features a wide variety of collections for its apparel line, including Nike Free, Livestrong, SPARQ and Nike Pro as part of campaign initiatives.
Equipment
Additionally, sports equipment is also a part of Nike’s business. These include yoga mats, swimming caps, gloves, baseball bats, rackets, balls, golf clubs, protective wear etc. (Writer, C). They even expanded to Nike ACG (All Conditions Gear) for extreme sports products like equipment for snowboarding and mountain biking. Their accessories such as bags watches and socks are also well-known. As of today, their product lines also offer portable heart-rate monitors and high-altitude wrist compasses
Consumer technology such as the Nike+ app that includes physical education classes, music, and other competitive activities are also part of Nike’s product portfolio
.Product design Process
R&D The company is well supported by its robust R&D facilities. Innovation-based strategies enable the company to stay abreast of the changes in the industry and provide it the ‘first mover’ advantage by launching products ahead of the competition and delivering advanced products and services to its customers. Nike R&D focuses on the development of new and innovative products and the improvement of existing product lines. Its cutting-edge technological innovations and designing and manufacturing capabilities improve the durability and performance of the product, reduce waste, eliminate injuries and offer comfort for its users. Its R&D team is composed of biomechanics, exercise physiology, chemistry, industrial design, engineering, sustainability, and related departments that collaborate with various research committees and advisory boards made up of athletes, coaches, trainers, equipment managers, orthopedists, podiatrists, and other experts for reviewing the designs, concepts and safety standards related to its products. Some of its innovative technologies include Nike Air, Flywire, Dri-Fit, Flyknit, Zoom, Free, Flyweave, ZoomX, and FlyEase under its running, basketball, football, men’s training, women’s training, and sportswear categories. As of May 2021, the company registers its trademarks in approximately 170 jurisdictions across the world.
How does Nike develop its products and decide what does and doesn’t make the cut when it comes to innovation? The Nike Sports Research Laboratory (NSRL) is located on the Nike campus in Portland, Oregon in the United States of America. The research and development (R&D) center’s role is to identify the physiological needs of athletes. The NSRL works directly with Nike’s design teams and has established partnerships with major universities throughout Asia, Europe, and North America. The NSRL takes an idea, and researches and prepares a design brief. The brief is then passed over to the company’s Product Line Managers, Designers, and Developers who work together to produce products in an 18-month life cycle. They work together to develop a product for the market, consulting with focus testing and strategic athlete partnerships. The third phase in this cycle is demand creation Marketers for strategic partnerships with various athletes and other notable brand partners consistent with the company’s brand image. Nike does not rely solely on television, cinema, and outdoor advertising. Nike understands that its consumers seek information online and as such, it targets different online audiences around the world. The Internet has become an essential component of Nike’s marketing campaign.
Nike produces a range of products that are unique to a particular sport or athletic endeavor. Nike’s marketing takes into account the different needs of athletes and consumers and uses its website to communicate with these groups via in-depth content, product information, and athlete insights.
References
Nike Design Exploration presents Nike Sports Research Lab. (n.d.). Nike.Com. Retrieved May 29, 2022, from https://www.nike.com/nikelab/nde-nike-sports-research-lab
Nike (NKE). (n.d.). Market Capitalization. Retrieved May 28, 2022, from https://companiesmarketcap.com/nike/marketcap/
Soni, P. (2014, December 4). An overview of NIKE’s supply chain and manufacturing strategies. Yahoo Finance. https://finance.yahoo.com/news/overview-nike-supply-chain-manufacturing-130048337.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADLGBE_c3hIj9lOFBDZhUuTtdkewqeUgklU5TDHGeyVmoUlbMEZVCEdgnWwHIvdNyNhgAQJA2kTXIXH2vkvnLejpe6CRXrZelNPB51bzeqDFD0XrxrEBAAvQzQz3j8MwmMaXu4rq9hF6a0MlWnaU3SzyYPuy3hFuXQDFgp78Qt0k
Total Quality Management (TQM): What is TQM? (n.d.). ASQ. Retrieved May 28, 2022, from https://asq.org/quality-resources/total-quality-management
UO Sports Product Management, & Bence, S. (2015). Steve Bence: Product development [Video]. In Vimeo. https://vimeo.com/118728450

 

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