Understanding Stakeholder Mapping in Nike
Added on 2019-12-04
17 Pages5128 Words159 Views
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STRATEGY MANAGEMENT1| P a g e
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3External environment and CSR assessment of the NIKE...........................................................3Internal environment of the company and its impact on strategic management.........................5Pron and cone of the corporate social responsibilities................................................................7Recommendations that would allow Nike to adjust/re-invent or develop new strategy to takeadvantages of CSR opportunities..............................................................................................10Implications for stakeholders....................................................................................................11Conclusion.....................................................................................................................................12References......................................................................................................................................132| P a g e
EXECUTIVE SUMMARYStrategic management can be defined as the process of managing internal and externalenvironment by devising strategies for the same. It is a bundle of decisions that are undertakenby management for the better future of company in all accords. In this regard, Nike as a companyhas made strategies that aid in customer satisfaction and fast delivery of services. The report hasthus focussed on assessing the internal and external environment conditions that are faced by thefirm. This is followed by understanding the concept of corporate social responsibility andapplying it to Nike. The report has thus concluded that Nike has implemented better planning,made the mission and vision clear so as to attain better results. By using CSR activities, firmimproves the brand image all over the world and also creates better relationships with thecustomers.For taking the advantages of CSR opportunities, Nike should come under thepartnership with other companies like NGO, government and private organizations which areworking in the favor of community. In this regard, a new strategy should be developed that helpsin addressing the society issues very well. It will lead to build high goodwill in the market ofNike and to influence the customers.3| P a g e
INTRODUCTIONStrategic management plays an important role in the success of the company because it isall about planning and managing the internal and external environment of the organization. It is abundle of decisions which are taken by the board of directors and managers of the company forthe better future (Ma, Lyu and King, 2010). Members plan for their future goals regardingmeasures to achieve all these things and beat the competitive business world. With the help ofthis, management member clear the vision and mission of the firm so by this, employees caneasily complete their work. In another words, it is a planning, monitoring and assessment ofmanagement where organization tries to meet its goals and objectives. The present report isbased on the NIKE which is an American multinational corporation that deals in footwear,accessories and equipments. It puts their focus on customer satisfaction and fast delivery services(Noakes, 2012). It also includes the internal and external environment of the firm. Further, thedevelopment into the corporate social responsibility and the implication for stakeholders hasbeen covered in this report. External environment and CSR assessment of the NIKEThe external environment of NIKE includes political, social, economical and legalenvironment. With the help of this, business analyzes competitive factors and policies. Further, italso includes monetary, social and competitor’s system (Noakes, 2012). These factors provideinformation about the external sources. With the use of external factors, company manages theirmarketing and the planning process. NIKE used these factors for better development and forfocused future planning. The external environment factors of the cited company are explained asfollows:Demographic- In fast growing world, taste and preferences of various people have beenchanged. Customers of the UK become more health conscious and the women of the country puttheir interest on sports activity. So, NIKE starts manufacturing girl’s sportswear and shoes(Kreng and Wang, 2013). Firm starts their new showroom in south area and the main reasonbehind this is that the people who lives there like to play football and for this; they need strongand comfortable shoes. In this segment, company divides their shoes production as per the agegroup and gender. Then they take a feedback on the taste and preferences of their customers andstart developing accordingly. With the help of this aspect, they raise their market share and makea strong brand in all over the world.4| P a g e
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