Nike Inc. stakeholders interests are satisfied through the companys corporate social responsibility (CSR) programs. For instance, employees performance directly translates to business performance. Nike also holds regular investor briefings and holds annual meetings for stakeholders to provide an overview of the companys performance and plans for the future. They seem to communicate with customers through this platform, providing relevant and important news updates as well as inspirational posts. Forum is an independent nonprofit working globally with business, government and other organizations to solve complex sustainability challenges. Get access to the list of our best samples for free. Endorsements to Tiger Woods and Michael Jordan and setting about subsidiaries in their names Nike boosted its image as the top sports products companies that pay tributes to the great players. Nike follows these five steps for achieving a repeatable approach to gaining customer trust: Acknowledge the long-term value that customers create Nike communicates to customers regularly how important they are to your organization and how appreciated they are. Nike has to communicate in its website in order to inform the consumers and the employees. Customers Communities 2. Define sustainability strategies, goals and policies in consultation with key stakeholders. Besides Instagram, Nike communicate with their customers through email subscriptions. Besides Instagram, Nike communicate with their customers through email subscriptions. This generic competitive strategy helped the company regain its competitiveness, especially against Adidas. Nike allocates 1.5% of its pre-tax income to support these community development initiatives. Nike_CSR_Report_2001_-_Stakeholders_section.pdf, http://www.nike.com/nikebiz/gc/r/pdf/Community_Invest_9-26.pdf, http://www.nike.com/nikebiz/nikebiz.jhtml?page, Principle 1 - Businesses should support and respect the protection of internationally proclaimed human rights, Principle 4 - The elimination of all forms of forced and compulsory labour, Principle 5 - The effective abolition of child labour, Principle 7 - Businesses should support a precautionary approach to environmental challenges, Principle 8 - Undertake initiatives to promote greater environmental responsibility, Principle 9 - Encourage the development and diffusion of environmentally friendly technologies. The interests of these stakeholders include support for the development of communities. The company started its operations in 1964, founded by Phil Knight a medium distance runner, and Bill Bowerman a track and field coach. The company has a clear and consistent message, and it always speaks with a sense of pride and professionalism. Who are stakeholders for Apple? Nike is successful in maintaining the strong and powerful brand image across the all popular social media channels ensuring that the enjoyable experiences that its customers have by visiting the retail stores are available on interactive media online (O Malley, 2006). The two visionaries started working with the Japanese athlete shoemaker Onitsuka, they had an agreement to improve the quality of athlete footwear. If online, you can opt to use video presentation software. Stake: Employment income and safety. Over 3,900 employees from various Nike stores have participated in teaching children to be active and healthy. We have continued this type of engagement through a number of meetings some informal and casual, others formal and facilitated by organizations including SustainAbility and Business for Social Responsibility. This stakeholder group is composed of individual and organizational buyers of Apple products.Apples Stakeholder Groups. It is more of a way through which companies enhances their interaction level with the stakeholders and the organizations (Taecharungroj, 2017). Integrated marketing communications together with strategies of brand identity play critical role in the development of an overall brand equity for the company (madhavaram et al., 2005). Nike sends out a weekly email called "Nike Weekly" to all employees. Being an original pioneer in the field of integrated marketing communication, Schultz argues that IMCs real definition must incorporative of the current market driver factors reflecting all the segments of audiences and stakeholders participating. NIKE's corporate governance reflects the company's commitment to monitor the effectiveness of policy and decision-making both at the Board of Directors and executive level. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. Establishing brand equity demands for products and brands that are well known and have favorable, strong and unique associations in consumers minds (Keller, 2008). In return, they expect a good return on their investment. #1 Customers. 808 certified writers online. Nikes Intensive Strategies (Intensive Growth Strategies). The interests of these stakeholders include support for the development of communities. #5 Communities. how does nike communicate with their stakeholders. Besides Instagram, Nike communicate with their customers through email subscriptions. Nike uses a variety of methods to communicate with its employees. Their tone is upbeat and positive, and it emphasizes the importance of hard work and dedication. The company addresses these interests through significant R&D investments. On the other hand, Nike also exports to Japan, Malaysia, Singapore, and UK. See our Privacy Policy page to find out more about cookies or to switch them off. In this context, NIKE approaches governance with a view to enhancing long-term shareholder value. Copyright 2003-2022 | Academic Master is a trading name of HighEnd Technologies LTD. Every essay on this website is copyrighted by Academic Master. March 25, 2016. While one main reason of its popularity is its innovative products, another is its marketing. Nike has revised its environmental strategy and this was explained in-depth in the company's annual sustainability report. Additional summaries of FLA audits are posted on the FLA website on an ongoing basis. Key internal stakeholders include the shareholders, management, in-house employees, and endorsers. Some of the activities that demonstrate Nikes integrated marketing communication approach are as below; Nike for all its marketing strategies has been working with an American Advertising agency named Weiden and Kennedy famous as W&K for a couple of decades passed and the strong and healthy business relationship between the companies contributed to the success of both. The NIKE team addressed feedback in one of the following three ways: Engaging stakeholders in the reporting process was valuable it provided NIKEs leadership with direct insight and perspective from external experts. (2006). If you continue to use this site we will assume that you are happy with it. These Guidelines reflect the Board's commitment to monitoring the effectiveness of policy and decision-making both at the Board . These relationships build networks that develop credible, united voices about issues, products, and/or services that are important to your organization. Nike actively communicates with its stakeholders and encourages their feedback. 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 . Another important stakeholder for Nike is its community. Transformational advertising help differentiating the product when the consumers are suggested the types of enjoyable experiences they might have using the advertised products and services being advertised (Belch & Belch, 2012. After compiling thousands of independent employee reviews from companies around the United States, CareerBliss announces the 8th annual CareerBliss 50 Happiest Companies in America. The marketing team of Nike constantly looks for the touch points by which they can engage the customers communicate with them directly. Nike implemented this intensive strategy in its early years, such as when it introduced apparel and sports equipment to its product mix. 2 How does Nike communicate with their employees? To reel subscriptions in, Nike install pop-ups on their official app and website. Nike has to communicate in its website in order to inform the consumers and the employees. Internal integrated marketing communication refers a development of healthy response of employees towards the new products and services so that a premature leakage of the product details is gained and potential customers are excited about the new products before their launch into the market. Abstract. **Nike participated in the public release of Global Alliance data drawn from worker interviews in contract factories in Indonesia (2001 and 2003), despite the critical nature of some of that information. Nike engages with its stakeholders through various forums and organisations. NIKE engages with a broad range of stakeholders on an ongoing basis, including individuals in civil society organizations, industry and government, as well as consumers and shareholders. Nike tracks its performance according to GRI''s Sustainability Reporting Guidelines and was one of several organizations participating in the GRI''s inauguration in 2002 as an independent organization. The strategy has a broad scope: the situational analysis is identified, key stakeholders and listed . 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. Throughout the years, Nike has been rapidly growing with promoting its brand and products by the use of Internet. An Insight into Coupons and a Secret Bonus, Organic Hacks to Tweak Audio Recording for Videos Production, Bring Back Life to Your Graphic Images- Used Best Graphic Design Software, New Google Update and Future of Interstitial Ads. Required fields are marked *. A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. (LogOut/ Does Nike Have A Good Relationship With Stakeholders? We use cookies to ensure that we give you the best experience on our website. - Sample V/ Nike's Stakeholder analysis Employees are the last key stakeholder group for Nike. It rather can be taken as a whole business process by looking into the external, internal, horizontal and vertical integrated marketing communication categories. Nike also uses their tone of voice to build trust with their customers. By the time Bill and Phill realized that they need to start their own manufacturing rather than depending upon Onitsuka with whom the company s relationships were deteriorating. Nike believes in ongoing dialogue with outside parties talking about the companys challenges as well as its successes, and in the process, helping to create a greater understanding of global supply chains and how to make them better. **Nike released its first Corporate Responsibility Report on October 9, 2001 in conjunction with GRI guidelines and has a comprehensive corporate responsibility website. It is a maker of sports apparel and shoes. Nike used internet marketing, email management technologies, and using broadcast and narrowcast communication technologies to create multimedia marketing campaigns. amberley publishing royalties . We believe that developing and refining listening skills is critical to a companys success. Integrated marketing Communication and Brand Strategy. Nike throws heavy sponsorship programs and celebrity endorsements to project its products, drive awareness and gain popularity and positive image in the audiences. However, the companys corporate social responsibility programs target only a number of major stakeholder groups. The brand replied the most on Tuesdays and Saturdays. We will write a custom Report on Coca-Cola Business Communication in Practice specifically for you. 6 ways to effectively communicate with stakeholders. Overall, Nikes marketing is very effective in communicating its brand to consumers. Additionally, Nike employees typically meet outside of work once a month. According to Archie Carroll, stakeholders are individuals or groups that have a significant stake in what the business does. The mass mediated marketing communication majorly used the transformational approach to persuade the customers for purchase. The Swooshs stable of designersVirgil Abloh, Riccardo Tisci, Kim Jones, Rei Kawakuborivals that of any luxury conglomerate. The NIKE team made changes to the report based on this feedback in the areas of articulating its strategy, content and design, certain data, metrics and dashboards, and context around and enhanced discussion of prominent business, environmental and social issues. Save my name, email, and website in this browser for the next time I comment. Since the integrated marketing communication techniques have been incepted they have been found to be the most reliable and mode of communicating the message of the businesses to target audiences. Through integrated marketing communication Nike developed and sustained its brand equity in the market as the leader of the industry. Nike has to communicate in its website in order to inform the consumers and the employees. Nike received Ethical Consumer's worst rating for its cotton sourcing policy, because it lacks a clear approach to use of pesticides and herbicides. If they run fast and with comfort, customers will associate happier sentiments with the brand. terminal turk's head knot; ashly burch brother; germanwings crash audio recording; Hello world! What is stakeholder communication? Integrated marketing communication is relatively a newly developed term referring to the fusion of conventional and modern marketing communication techniques. The report finds the current business communication strategies provided by the company successful. The explosion of social networking web sites has provided the businesses variety of channels to interact with their customers directly. The most common way is through email. As a result, Nike is one of the most successful and well-known brands in the world. Arsalan is the founder and CEO of Academic Master, Integrated Marketing Communication in Nike. This understanding is utilized to design products which form an integral part of Mike`s value proposition. Communicate with stakeholders in the manner that works best for them. To ensure all external stakeholders are accounted for, it was important to break them into categories based on their level of interest and influence they have. Some of the activities that demonstrate Nike's integrated marketing communication approach are as below; Nike was affiliated in footwear, sportswear, apparel of golf and team uniform on 1972 until now. One of the most prominent ones among these is the Global Compact. External integrated marketing communication refers to the outsourcing of marketing or public relations companies by the businesses to market their products and services. Are The Nike Air Max 97 Good For Running? Nike also has a blog called NikeVoice which is a blog for employees to share their thoughts and experiences. It encourages people to be their best selves, and it inspires them to work hard to achieve their goals. A stakeholder is a person or group that has an investment, share, or interest in something, as a business or industry. Nike, in partnership with the World Wildlife Fund Climate Savers program, has established a series of short and long term goals to track, reduce and offset the companys greenhouse gas emissions. Early in our corporate responsibility journey, we learned the importance of engaging with and listening to multiple stakeholders. Also, they take the proper steps to measure long-term value effectively. In addressing the other interests of this stakeholder group, Nike Inc. maintains a number of policies and standards to ensure compliance in all of its business areas. So, they have joined hands with their material vendors and contract manufacturers to . Twitter appears to be the core platform in which Nike used to communicate important information to customers and the public. Cotton accounts for 12.34% of all insecticide sales and 3.94% of herbicide sales, even though cotton covers only 2.78% of global arable land. Nike communicates its progress to its stakeholders, through its website nikeresponsibility.com backgrounders, quarterly electronic newsletters, the 2001 Corporate Responsibility Report and Community Investment Report 2002-2003. Nike actively communicates with its stakeholders and encourages their feedback. The trademark of the company today is the famous swoosh and the slogan of Just Do It. Footwear industry leader Nike manufactures sporting products and has sub-brands of hurley Internatinal, Converse, Cole Haan, Jordan and Nike Golf. 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. This type of advertising is designed to resonate with consumers and create a positive association with the Nike brand. Employees. (LogOut/ (Coucha, 2011). (2011). A systematic review. Nike runs dozens of sports training . Its athletic footwear and clothing have become a piece of Americana. They help us prioritize key issues and develop our corporate responsibility policies and approaches. There are two types of stakeholders; internal and external, with different interests and priorities. Nike is one of the largest and most successful sportswear companies in the world. On nikeresponsibility.com and in its backgrounders (attached), Nike addresses issues and initiatives related to workers and contract factories making Nike-branded products (code of conduct, code leadership standards, tiered monitoring system, independent/external monitoring, new source approval process, balance scorecard and remediation plans); environmental sustainability (long-term goals, climate change, water quality standards, elimination of organic solvents and sustainable product innovation); partnerships with the Fair Labor Association and the Global Alliance for Workers and Communities; commitment to increasing youth physical activity; community investments to increase the participation of young people in physical activity to improve their lives and to develop innovative solutions that address the challenges of globalization faced by women and girls; and Nikes work toward internal and supplier diversity. 4. Stakeholders are groups or individuals that have an interest in a business. How can corporate social responsibility activities create value for stakeholders? See more at: http://www.nikeresponsibility.com/report/content/chapter/stakeholder-engagement-reporting#sthash.wUqBHiaN.dpuf. For Nikes business reputation, it was important to be vigilant with communication to external stakeholders to ensure all external contractors and other stakeholders are satisfied. 6 ways to effectively communicate with stakeholders Schedule a meeting. v Distant competitors NIKE first held a formal multi-stakeholder forum for feedback on reporting in February 2004. Advertising is a multi-billion dollars business around the globe as media groups pay top dollar for ad space in hopes of gaining traction. How does Nike communicate with external stakeholders? (1991). Viral marketing videos give Nike a personal touch and sharing and discussing viral content within informal networks creates the feeling of belonging for the customer. The goal is to generate both short term financial returns and build long-term brand and shareholder value (Schultz, 2004). The highest number of employees was reported in 2019 when Nike reported 76,700 people on their payroll. Nike supports the Global Reporting Initiative (GRI) as an Organizational Stakeholder, and the real advances that have been made in the corporate responsibility arena in developing common reporting and assurance frameworks and systems to measure a companys corporate responsibility progress. Stakeholders 1st Business: Nike The aim of this business is to provide and develop products for athletes of every ability and to make sure their products help athletes reach their potential. Customers Nike's corporate social responsibility strategy gives top priority to customers as a stakeholder group. Write my paper. For instance, employees' performance directly translates to business performance. W&K worked influentially for Nike by developing strong electronic and print media campaigns focusing sports men and women equally that appealed the customers on an emotional point (Anderson, 1999). Stake: Product/service quality and value. Nike can make a internal official letter to inform the employees if a problem occurs and to let them know what they have to do and what procedure they have to follow. Communication with stakeholders is how people invested in a business, or project, can communicate. Marketing campaigns Nike employees typically meet outside of work once a month give! Which Nike used to communicate in its early years, such as when it introduced apparel and sports equipment its..., and/or services that are important to your organization positive, and it inspires them to hard... 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