Werther Jr., W. B., & Chandler, D. (2010). The company influences them, and they influence the company in return. Customers want to receive the best possible product or service. Does Nike Have A Good Relationship With Stakeholders? Brand mentions peak from 11 AM to 2 PM, while Nike replies the most from 12 AM to 1 PM. Nike uses a variety of communication methods to promote its products, including television commercials, print advertisements, and online ads. Nikes tone is meant to appeal to their target audience, which is made up of people who are active and enjoy sports. Market Development:One of Nikes supporting intensive growth strategies is market development. What type of communication does Nike use? Stakeholders - a group of people or organization that has interest or concern in an organization. They never make any false or exaggerated claims, and they are straightforward about the prices of their products. Organizational Culture Characteristics: An Analysis, Amazon.com Inc. Stakeholders, Corporate Social Responsibility (An Analysis), Nike Inc. Five Forces Analysis (Porters Model), Burger Kings Stakeholders: A CSR Analysis, Costco Wholesales Stakeholders: A CSR Analysis, Whole Foods Market Stakeholders: A CSR Analysis, Nike Inc. The interests of these stakeholders include support for the development of communities. Public relations is also a key part of Nikes marketing mix. May 02, 2019. In some instances, Nike supplements overall contract factory compensation by partially sponsoring after hours education programs in select footwear contract factories; and health education, management and life skills training, and mobile health clinics in select contract factories through its partnership with the Global Alliance for Workers and Communities. The two visionaries started working with the Japanese athlete shoemaker Onitsuka, they had an agreement to improve the quality of athlete footwear. Nike has to communicate in its website in order to inform the consumers and the employees. How do you communicate with stakeholders? Organizational Structure Characteristics (Analysis), Nike's Mission Statement & Vision Statement (An Analysis), Home Depots Stakeholders: A CSR Analysis, Microsofts Corporate Social Responsibility Strategy & Stakeholders (An Analysis), Unilevers Corporate Social Responsibility & Stakeholders, Intels Corporate Social Responsibility Strategy & Stakeholders, General Electric Companys (GE) Corporate Social Responsibility (CSR) Strategy and Stakeholders - Analysis, United Nations Foundation Nike Foundation, Stakeholder Analysis & Corporate Social Responsibility (CSR). We see stakeholder engagement as a key enabler of both risk mitigation and innovation. Governerates 4. We use cookies to ensure that we give you the best experience on our website. The company began mass mediated advertising in 1982 and continuously redevised and refined its marketing communication strategies. Sainsbury's communication strategy comprises most of the elements of popular communication strategy that include advertisement, letters, newsletters, oral communication, company magazine, formal letters, reports, news conferences, new releases etc. Does Nike have a good relationship with employees? How does Nike control marketing information? Through integrated marketing communication Nike developed and sustained its brand equity in the market as the leader of the industry. Who are stakeholders for Apple? Nike allocates 1.5% of its pre-tax income to support these community development initiatives. Nike addresses these interests through corporate social responsibility policies and programs that focus on internal leadership development, talent management through coaching and mentoring, and team building. In February 2004, Nike held its first stakeholder forum with a broad group of internal and external stakeholders to address current and emerging issues. The company is among the firsts to assess the potential of engaging the customers through viral video channel Youtube. This has been true in our history as we have listened to and innovated for athletes to deliver performance products, and it is how we approach our corporate responsibility efforts. The underpinning feature behind the success of integrated marketing communication is that it incorporates the best of both the traditional and modern communication techniques. These stakeholders have significant effect on Nike in terms of potential government intervention and in terms of consumer perception regarding the company and its sports shoes, apparel and equipment. Capturing an international audience with their ads and campaigns, Nike can better communicate their messages that go beyond the sports world. Nike uses a number of marketing tactics to communicate its brand, including advertising, branding, and public relations. Nikes Intensive Strategies (Intensive Growth Strategies). 6704. Nike collaborated with Better Buying to invite our suppliers to participate and we use the information to help inform system and process improvements. This session allowed for all available participants to engage more directly with NIKE on its approach to reporting, systems change and innovation. They have a Twitter account called Nike News which posts updates on new products, events, and other news. For most of the businesses it is vital to have stakeholder groups because it may affect business efficiency, may increase sales, or even it may help for the business to reach its aims and objectives more effectively. Sense and sensitivity: the roles of organisation and stakeholders in managing corporate social responsibility. The highest number of employees was reported in 2019 when Nike reported 76,700 people on their payroll. Nike has 73,300 employees worldwide. They also want to create business opportunities that set them apart from competition and also to provide value for their stakeholders.Having objectives in a business is very important because it brings . Integrated marketing Communication and Brand Strategy. For more recent reports, we established panels of experts who provided feedback on early drafts and discussed issues such as materiality, completeness, relevance, tone, performance and the future of our reporting, among other topics. Thoughtful, authentic, direct communication to both internal stakeholders to rebuild trust and establish an open culture Apologies to the public for what happened Accept responsibility Take high-profile actions that change policies and procedures to ensure this will never happen again Nike Inc. recognizes the significance of employees as a stakeholder group that influences organizational effectiveness. Nike engages with its stakeholders through various forums and organisations. The Swooshs stable of designersVirgil Abloh, Riccardo Tisci, Kim Jones, Rei Kawakuborivals that of any luxury conglomerate. The corresponding CSR policy and strategy are based on Nikes consideration for communities and customers, whose interests significantly influence the companys design and production of its athletic footwear, equipment and apparel. Establish channels to engage with employees and other stakeholders to hear their ideas and address their concerns Nike is one of the largest and most successful sportswear companies in the world. athletesCulture of Teamwork Thats one of the reasons why retail store employees are referred to as athletes. Its fitting that a brand built around sports and fitness fosters the same sense of healthy competition, continual growth and challenge, and collaboration with teammates to accomplish goals. They are open and honest about the origins of their products, and they are clear about the benefits that their products can provide. Internal branding is a growing use of content marketing videos as a way for brands to communicate any number of topics, news or other information to employees in an engaging way, including relaying the excitement of live consumer events that the vast majority of employees never get a chance to participate in. As of July 23, 2020, Knight was ranked by Forbes as the 24th richest person in the world, with an estimated net worth of US$54.5 billion. In February 2004, Nike held its first stakeholder forum with a broad group of internal and external stakeholders to address current and emerging issues. Nikes advertising is often very successful, and the company has become one of the most well-known and respected brands in the world. In this capacity, Forum jointly selected stakeholders with NIKE, coordinated the overall process, led stakeholder discussions and virtual feedback sessions, and consolidated feedback for us. Nike is a champion brand builder. Customers are significant because they affect the companys revenues from the sports shoes, apparel and equipment market. Communicate with stakeholders in the manner that works best for them. While one main reason of its popularity is its innovative products, another is its marketing. These relationships build networks that develop credible, united voices about issues, products, and/or services that are important to your organization. The next plans will be more refined and more effective in reaching the objectives. One of the most prominent ones among these is the Global Compact. The most common way is through email. amberley publishing royalties . Based on Nike's current use of social media, Nike is relatively active on Twitter. Tactics are the specific details of the strategies and actions are the specific details of tactics (Kourdi 2009 45-60). Thus, through such branding initiatives, Nike ensures that all its employees have the ultimate goal of creating a world-class sporting product at the back of their minds all the time. 3 Does Nike have a good relationship with stakeholders? In 2002, in Vietnam alone, Nike hosted more than 1,000 visitors in selected contract factories. Stakeholder relations is the practice of forging mutually beneficial connections with third-party groups and individuals that have a stake in common interest. Its athletic footwear and clothing have become a piece of Americana. Required fields are marked *. Document interactions to create corporate memory. This particular method enables the company to relay information to its employees in an engaging and exciting way. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); http://www.nikeresponsibility.com/report/content/chapter/stakeholder-engagement-reporting#sthash.wUqBHiaN.dpuf, A: 23km Athens-Lamia Highway,Ag. For instance, employees performance directly translates to business performance. The report finds the current business communication strategies provided by the company successful. #5 Communities. The companys corporate social responsibility strategy is also satisfactory in terms of giving second priority to communities, considering the variety of policies and programs to support these stakeholders. The techniques of integrated communication enabled Nike brand to reach the widespread of marketplace and engage its existing customers through multiple touch points such as concentrated media, social media and sponsorship programs. Who are the 5 main stakeholders in a business? It is in unison with the internal branding initiatives of Nike without the company reshaping its value delivery mechanism. Some of the activities that demonstrate Nike's integrated marketing communication approach are as below; Besides Instagram, Nike communicate with their customers through email subscriptions. This is not just limited to someone who has purchased stock in a company, which is a shareholder. Considering high profitability and growing sales revenues, Nikes corporate social responsibility effectively satisfies the interests of customers as a top-priority stakeholder group. It tells customers what they want and then makes that value readily available. Nike, Inc. is one of the largest and most successful sportswear companies in the world. How does Nike communicate with their employees? Nike has to communicate in its website in order to inform the consumers and the employees. Outsourced firms are responsible for the design, planning and execution of the marketing campaigns for the respective businesses. Copyright 2003-2022 | Academic Master is a trading name of HighEnd Technologies LTD. Every essay on this website is copyrighted by Academic Master. NIKEs SB&I team managed the overall reporting process and actively participated in stakeholder engagement as an information provider and listener. Download Save. 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