Nike Inc Sydney Business Sustainability Analysis
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Added on 2021-06-16
Nike Inc Sydney Business Sustainability Analysis
Added on 2021-06-16
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Nike Inc Sydney Business Sustainability AnalysisIntroductionBusiness sustainability has become part of businesses today. Businesses are part of the society and their activities have impact to all stakeholders and the environment. The old business objective of maximizing shareholders’ wealth by making profits is outdated and businesses have to take responsibilities for their actions (Willard, and Hitchcock, 2009). Sustainability is the process of meeting current needs without compromising the future generations’ needs (Larson, and York, 2017). Business sustainability involve to corporate achieving balance between economic, social and environmental factors (Dauvergne, and Lister, 2012). Corporate sustainability enables businesses to attain competitive advantage and business growth in the longterm. Companies integrate sustainability strategies in the company strategic plan, practices, or policies that change how things are do ensuring benefits to all stakeholders and environmental conservation. The following report analysis business sustainability of Nike Inc in Sydney. This will involve analyzing the company vision and mission statement, sustainability reporting, and indicators of strategic sustainability. Company InformationNike Inc Sydney is a subsidiary of the parent American Multinational Corporation and deals withmanufacturing, design development, and marketing and sales of apperal, accessories, and footwear. Nike is the world largest manufacturer and supplier of sports equipments, athletics shoes, and apparels (Larson, and York, 2017). The Company was founded in 1964 by Bill Bowerman and phillip Knight. Nike Inc is headquartered in Beaverton, Orgeni in America. The company is led by Mark Parker as the CEO while Phillip Knight as the Chairman Emeritus. The company has grown over the years to employ more than 44000 employees and operate in more and 190 countries around the globe. The Company recorded US $ 34.4 billion in 2017 financial year (Larson, and York, 2017).
Research Questions1.Is there evidence of sustainability in Nike Inc mission statement?2.What is the form of Nike Inc sustainability reporting?3.What are the indicators of sustainability in Nike Inc?Nike MissionThe Nike mission is “bringing inspirations and innovation to every athlete in the world”. The company mission is accompanied by a saying “if you have a body, you are an athlete”. The mission statement captures the main purpose of the company existence that is to serve athletes around the globe and projects the future that the company wants to design future sport. Nike Inc outlines in the mission statement that it committed to elevating human potential through innovation and obsess the needs of world best athletes. The company takes big risks to pursue development of most fit, beautiful, and useful athletes’ products that sets new standards. The company is 100% committed to using renewable energy in all its facilities. The company also outlines it culture where all employees are explorers. The company invest in it employees in order to inspire new ideas, products, and methods that will drive the future in sporting industry. The Nike Inc mission statement has incorporated sustainability that positions the company for attain a competitive advantage. First there is evidence of the company using 100% renewable energy in all its facilities for manufacturing and office use. This ensures that the company uses clean energy that conserves the environment compared to use of condensed source of energy to emit carbon to the atmosphere and increases water temperature. Usage of renewable energy fulfills the company current needs of energy without compromising the environmental ability to meet future generation need. This sustainable activity makes the company “likable” that attract more customers and increase customers’ loyalty increasing the company long term profits. Secondly, the Nike Inc invests in employees to inspire them to pursue the company vision. Investing in employees improves their skills and ability to perform better in the workplace(Kaplan, and Montiel, 2016). The company is then able to equip and retain highly skilled personnel who are efficient. The Nike Inc is therefore able to lower its production cost while producing high quality products that increase it profit margin.
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