Essay on Nike: Just Do It

2850 Words 12 Pages
Introduction
Nike, Inc. is a sporting goods and apparel company founded by Bill Bowerman and Phil Knight in 1972. Nike, being a world-wide phenomenon, has “more than 35,000 employees across six continents and in more than 160 countries around the globe. Through our suppliers, shippers, retailers and other service providers, we directly or indirectly employ nearly one million people” (Nike, Inc.). All this is done to help Nike fulfill their goal to “carry on [Bill Bowerman’s] legacy of innovative thinking, whether to develop products that help athletes of every level of ability reach their potential, or to create business opportunities that set Nike apart from the competition and provide value for our shareholders” (Nike, Inc.). Ultimately,
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They designed the Nike Swoosh and found Steve Prefontaine as the first person to wear the brand name. He was a runner who “electrified the packed stands” (Nike, Inc.) and became known as the “soul of Nike” while pushing the brand of Nike to others. Nike continued to grow larger and today covers sporting gear for every sport and type of clothing apparel. They began investing in athletes and soon had athletes of the caliber of Tiger Woods, Lance Armstrong, Michael Jordan and plenty of others.
“Today, Nike continues to seek new and innovative ways to develop superior athletic products, and creative methods to communicate directly with our consumers. The company has continued to expand in new ways, including strong growth in China and a deal to become the official sponsor of the National Football League (NFL) beginning in 2012" (Nike, 2013). “The company recorded revenues of $24,128 million during the financial year ended May 2012(FY2012), an increase of 15.7% over FY2011.The net profit was $2,223 million in FY2012, an increase of 4.2% over FY2011” (NIKE Inc., 2013). Nike continues to lead the competition, with many changes and ever-evolving products, ethical issues, and struggles within its organization along the way. In the words of Mark Parker, Nike's President and CEO, “At NIKE, Inc. we run a complete offense, and it’s based on a core commitment to innovation. That’s how we stay opportunistic, serve the athlete, reward our