Through SDG reporting, organizations can communicate their progress with their stakeholders and better manage their contributions to the SDG. Throughout the years, Nike has been rapidly growing with promoting its brand and products by the use of Internet. Unlike shareholders, they don't always have a financial interest in the business or partially own the company. NIKEs SB&I team managed the overall reporting process and actively participated in stakeholder engagement as an information provider and listener. They seem to communicate with customers through this platform, providing relevant and important news updates as well as inspirational posts. 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. Nikes Intensive Strategies (Intensive Growth Strategies). Nike held its first formal stakeholder forum in February 2004. The interests of these stakeholders include support for the development of communities. The global data room market has already hit the billion-dollar figure and is expected to reach $3 billion by 2027. Nike actively communicates with its stakeholders and encourages their feedback. NIKEs SB&I team managed the overall reporting process and actively participated in stakeholder engagement as an information provider and listener. In order to communicate their message, Nike adopts a tone of voice that is both informative and persuasive. (2006). They never make any false or exaggerated claims, and they are straightforward about the prices of their products. There are many different types of communication, but one type that is particularly important for businesses is advertising. To view or add a comment, sign in. They are open and honest about the origins of their products, and they are clear about the benefits that their products can provide. 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. The primary stakeholders in a typical corporation are its investors, employees, customers, and suppliers. Besides Instagram, Nike communicate with their customers through email subscriptions. 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. It tells customers what they want and then makes that value readily available. The communication process refers to a series of actions or steps taken in order to successfully communicate. Nike implemented this intensive strategy in its early years, such as when it introduced apparel and sports equipment to its product mix. Nike relies heavily on advertisements to promote their products, especially those featuring high-profile athletes and celebrities. As a result, Nike is one of the most successful and well-known brands in the world. To reel subscriptions in, Nike install pop-ups on their official app and website. Its internal and external strategies confirm with the needs of the modern . We use cookies to ensure that we give you the best experience on our website. However, sometimes Nike will use a more playful tone in order to engage employees and get them excited about upcoming events or products. Nike Inc. uses its promotional mix or marketing communications mix to communicate with target customers in the global athletic footwear, apparel, and equipment industry. #5 Communities. Nike employees use sporting metaphors for carrying out their everyday business. Based on Nike's current use of social media, Nike is relatively active on Twitter. Nike is also an Organizational Stakeholder of the GRI. Nike is a champion brand builder. How can corporate social responsibility activities create value for stakeholders? Don Schultz (2004) defines integrated marketing communication as integrated marketing communication is a strategic business process used to plan, execute and develop, evaluate measurable, coordinated, persuasive brand communication programs over time with customers consumers, prospects, employees, associates, and other targeted relevant external and internal audiences. This can be physical (Note: Please check the latest information on physical meetings due to Covid-19) or online. How does Nike use marketing to communicate brands. As of 2020, Nike operates in over 190 countries worldwide. These considerations indicate that Nike Inc. satisfies the concerns of interest groups as stakeholders. It allows you to build value directly based on the customer experience. Does Nike Have A Good Relationship With Stakeholders? Stakeholders are groups or individuals that have an interest in a business. How do you communicate with stakeholders? For instance, employees performance directly translates to business performance. That information can be found at www.fairlabor.org. 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). Establish channels to engage with employees and other stakeholders to hear their ideas and address their concerns 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. Belch a& Belch (2012) suggest that marketing experts of a company should evaluate and monitor the activities of integrated marketing communication process and execution in order to determine the effective factors and areas of improvement through the process (Belch & Belch, 2012). Overall, Nikes marketing is very effective in communicating its brand to consumers. Nike allocates 2.4 million dollars each year to the account of promotional schemes and programs and communication with their customers through these programs. How do I stop a process from running in terminal? How does Nike communicate with competitors? Thus, the firms corporate social responsibility strategy satisfies the interests of governments as stakeholders. Apple prioritizes customers as its top stakeholders in devising corporate social responsibility strategies. Currently, Nike is redefining its process for data collection and is developing the tools to help guide both internal and external reporting, including data validation and assurance systems. 1 What does Nike do for its stakeholders? To effectively manage stakeholder communications you need to track, extract, and report. We analyze the Nike case in order to study how stakeholders' pressure shapes a firm's engagement in CSR issues. This is not just limited to someone who has purchased stock in a company, which is a shareholder. 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. Its advertising slogansBo Knows, Just Do It, There Is No Finish Linehave moved beyond advertising into popular expression. The company addresses these interests through significant R&D investments. A stakeholder is a person or group that has an investment, share, or interest in something, as a business or industry. The company's corporate social responsibility programs target only a number of major stakeholder groups. 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. Nov 2020 houses for rent ridgeland, ms how does nike communicate with their stakeholders. Nike never compromises its values in order to appease its stakeholders, and this approach has helped the company build a strong and loyal following. The report finds the current business communication strategies provided by the company successful. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. Integrated Marketing Communication. This tone is used in all of their marketing and communication materials, from commercials to social media posts to website content. 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 company has a strong media presence and uses this to build positive relationships with the public. The interests of these stakeholders include support for the development of communities. Nike has a very strong and loyal customer base, which is partly due to its marketing and branding strategies. However, the Nike Foundation is the main arm of the companys corporate social responsibility strategy. Customers and consumers are the lifeblood of any business and Nike is no exception. Its athletic footwear and clothing have become a piece of Americana. Copyright by Panmore Institute - All rights reserved. The goal is to generate both short term financial returns and build long-term brand and shareholder value (Schultz, 2004). The strategy should communicate to the customers and the internal employees the mission of the organization and the values it stands for. Nike also has a blog called NikeVoice which is a blog for employees to share their thoughts and experiences. (LogOut/ People should be offered a variety of options to communicate with you and provide their input. Similarly, aesthetically pleasing products inspire positive emotions in customers. Besides Instagram, Nike communicate with their customers through email subscriptions. How does Nike connect with its consumers? Additionally, Nike employees typically meet outside of work once a month. Employees 3. Your email address will not be published. With a global presence, they can create ads that people around the world can identify with, helping Nike communicate their values and mission to contribute to a better world. how does nike communicate with their stakeholders. One of the most prominent ones among these is the Global Compact. Nike actively communicates with its stakeholders and encourages their feedback. (LogOut/ Why is it important for Nike to have external stakeholders? At Nike emotion is used in everyday work to remain competitive in the workplace. Internal stakeholders are for example employees, managers and shareholders (owners). 0. how does nike communicate with their stakeholders. Nike is committed to improving working conditions in the contract factories from which it buys product. Nike allocates 1.5% of its pre-tax income to support these community development initiatives. We use cookies for website functionality and to combat advertising fraud. Almost all of their corporate employees work in teams because Nike believes the best way to create truly innovative ideas is to collaborate across a diverse group of people. External integrated marketing communication refers to the outsourcing of marketing or public relations companies by the businesses to market their products and services. It is a maker of sports apparel and shoes. The interests of these stakeholders include support for the development of communities. Nike sends out a weekly email called "Nike Weekly" to all employees. Are The Nike Air Max 97 Good For Running? Business partners: suppliers, licensees and service providers. Key internal stakeholders include the shareholders, management, in-house employees, and endorsers. It tells customers what they want and then makes that value readily available. Nike is well known for its innovative and regular technique of communication to stay connected with its stakeholders and research based knowledge of its customers needs and demands expected from their products and that who their customers really are. Tactics are the specific details of the strategies and actions are the specific details of tactics (Kourdi 2009 45-60). 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. Overall, Nike Inc. is effective in ensuring that its corporate social responsibility programs support the business aim of optimizing revenues from the sale of sports shoes, apparel and equipment worldwide. Nike communicates with its stakeholders in a variety of ways. Miles, M. P., Munilla, L. S., & Darroch, J. 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. #2 Employees. Nike Inc. addresses these interests through the Nike Foundation, which serves as the companys primary means of supporting community development initiatives. They can use these to predict sales in different seasons of the year. 77% of Nike employees feel their work environment is positive meaning Nike is a happy place to work. 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. Its tweets are short, punchy, compelling, and nearly always include the hashtag #justdoit or other community-building hashtags like #nikewomen. March 25, 2016. 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. 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. How does Nike communicate with their suppliers? The company has a long history of supporting youth sports programs and giving back to the communities where it operates. Write my paper. The pyramid of corporate social responsibility. Governments. Nike engages with its stakeholders through various forums and organisations. The Board of Directors (the "Board") of NIKE, Inc. (the "Company") has adopted the following Corporate Governance Guidelines (the "Guidelines") to assist the Board in the exercise of its responsibilities. A company uses marketing communications to promote its business and products, considering the dynamics of its target markets. Investors are another important stakeholder group for Nike. It used to be just focus groups and then monitoring our sales and that was it. Nike is a company that has built its success on the backs of its employees. By doing so brand creates positive image of the products and feelings for it that ultimately result in brand loyalty (Keller, 2008). (2011). They are the ones who buy the products and keep the company in business. Who are stakeholders for Apple? 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. 3 Does Nike have a good relationship with stakeholders? What type of communication does Nike use? It is in unison with the internal branding initiatives of Nike without the company reshaping its value delivery mechanism. Change), You are commenting using your Twitter account. 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. Customers Nike's corporate social responsibility strategy gives top priority to customers as a stakeholder group. It is The concept and process of strategically managed, audience-focused, channel-centered, and result-driven brand communication overtime according to the definition given to integrated marketing communication by Jerry Kliatchco. The satisfaction of customers directly affects revenues. Stake: Revenues and safety. celtic life insurance claims address; Use data management systems to summarise key information. Gain your stakeholders trust right from the start. He is the co-founder and chairman emeritus of Nike, Inc., and was previously chairman and CEO of the company. Nike has a very good reputation for treating its employees well and providing them with good working conditions. Horizontal integrated communication for marketing involves an open and efficient communication among the teams assigned for the development of products, its distribution and the finance team. Nikes mission statement is, To bring inspiration and innovation to every athlete in the world. And as co-founder Bill Bowerman once said, If you have a body, you are an athlete.. Ten years ago, the company employed 38,000 people. 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. The case of Nike demonstrated that proper and strategic integrated marketing communication can help a company achieve not only larger profit margin and share in the marketplace but enables it to enjoy the fruitful relationships with the stakeholders. 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