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Nike, Inc. (henceforth Nike) is an American-based corporation specializing in the development and manufacturing of athletic footwear, apparel, and accessories. Since its founding in 1964, it has considerably expanded its capacities through a number of successful acquisitions (“Nike, Inc.,” 2017). Currently, the company owns 362 retail stores in the US and 683 stores in more than 40 countries around the world (“Form 10-K,” 2016). The aim of this paper is to discuss Nike’s top management structure, key stakeholders, reward systems, and code of ethics.
Discussion
Nike is a multinational corporation; therefore, it has a wide range of stakeholders with varying degrees of involvement in its functioning. The major stakeholders of Nike are customers, shareholders, managers, employees, creditors, suppliers, communities, and governments. The company takes an active stance on sustainable growth, which necessitates stakeholders’ involvement in Corporate Social Responsibility (CSR) programs (Weiss, 2014). The effectiveness of Nike’s CSR endeavors is affected to a substantial extent by the prioritization of stakeholders’ interests, which is controlled by the vertical and horizontal arrangements of authority (Weiss, 2014).
The footwear and apparel giant is headed by the Chairman Emeritus Philip H. Knight who jointly oversees all corporate activities. Chairman, President, and Chief Executive Officer (CEO) Mark Parker ensures the growth of Nike’s global portfolio through industry-breakthroughs in both design and marketing (“About Nike,” 2017). Trevor Edwards is the President of the Nike Brand, which is a position that presupposes the involvement into and overseeing of all activities associated with the management of the company’s brand as well as tangible and intangible elements of the consumer experience. Other top management positions in the company are filled by Andy Campion (Chief Financial Officer), Hilary Krane (Chief Administrative Officer & General Counsel), Monique Matheson (Global Human Resources), John Slusher (Global Sports Marketing), Michael Spillane (President of Categories & Product), and Eric Sprunk (Chief Operating Officer) (“About Nike,” 2017).
Nike prides itself on socially responsible practices, which is reflected in its written code of ethics. However, the corporation’s involvement in unconscionable labor practices reveals a major discrepancy between written and unwritten codes of ethics (Nisen, 2013). The company’s written code also shows the commitment to the preservation of employee and customer privacy, the importance of which has been emphasized by numerous scholars (Kumar & Reinartz, 2012; Shenkar, Luo, & Chi, 2014). Furthermore, the code shows commitment to competition and accurate record keeping (“Inside,” n.d.). The ethical stance of Nike stakeholders is rooted in the principles of CSR. Therefore, it affects how each group of stakeholders, in particular, and the corporation, in general, operate in terms of primary and secondary means of achieving its financial targets (Weiss, 2014).
The company’s reward system is aligned with its organizational goals to ensure that employees are motivated to promote corporate growth. The company goals include a partnership with key stakeholders in the apparel industry, sustainable growth, and delivery of top-notch products to its customers (“Nike, Inc.,” 2017). The positive effect of the alignment of the system and goals is the increased productivity, which is achieved through the amplification of employees’ talents. Workers who feel appreciated tend to dedicate more energies to their projects, thereby ensuring their successful completion.
Conclusion
The paper has discussed Nike’s top management structure, major stakeholders, code of ethics, and the relationship between its reward system and goals. It has been argued that the managerial focus on CSR allows the company to ensure sustainable growth, which is extremely important in the modern business environment. The company’s wide range of benefits and incentives contributes towards the attainment of operational excellence across all its branches.
References
About Nike. (2017). Web.
Form 10-K. (2016). Web.
Inside the lines: The Nike code of ethics. (n.d.). Web.
Kumar, V., & Reinartz, W. (2012). Customer relationship management: Concept, strategy, and tools. New York, NY: Springer.
Nike, Inc.(2017). Web.
Nisen, M. (2013).How Nike solved its sweatshop problem. Web.
Shenkar, O., Luo, Y., & Chi, T. (2014). International business. Abington, England: Routledge.
Weiss, J. W. (2014). Business ethics: A stakeholder and issues management approach. Oakland, CA: Berett-Koehler Publishers.
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