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Nike engages with its stakeholders through various forums and organisations. Nike has to communicate in its website in order to inform the consumers and the employees. 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. NIKE distributed a draft of the FY12/13 Sustainable Business Performance Summary through Forum, and the selected experts had a chance to review its contents. 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. How does Nike communicate with competitors? We see stakeholder engagement as a key enabler of both risk mitigation and innovation. NIKE and Forum jointly created a list of relevant stakeholders who possess a range of the following attributes: The participation of listed stakeholders and organizations is not an indication of support, recommendation or endorsement of any information, persons or organizations in the report. 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. Peloza, J., & Shang, J. External Stakeholders In Nike. Nike communicates with its stakeholders in a variety of ways. Creating long-term shareholder value is facilitated by focusing on NIKE . Nike uses Twitter prominently to address customer queries with 96.8% of the brand's tweets being replies. Business partners: suppliers, licensees and service providers. 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. NIKEs SB&I team managed the overall reporting process and actively participated in stakeholder engagement as an information provider and listener. For example, Nike Fuel enables customers to record their progress through the use of Nike Plus devices. Nike also uses a distinctive tone of voice in its advertising, which is designed to be persuasive and inspiring. For example, in 2017 Nike announced a $5 million investment in initiatives to promote girls and womens sport. This means that Nike is not solely influenced by its customers, but by a variety of groups with a vested interest in the company. Capturing an international audience with their ads and campaigns, Nike can better communicate their messages that go beyond the sports world. Stakeholders'Conflicts. Does Nike have a good relationship with employees? Nike held its first formal stakeholder forum in February 2004. NIKEs SB&I team managed the overall reporting process and actively participated in stakeholder engagement as an information provider and listener. As time-consuming as they can be separate face to face meetings are the best way to get the message across stakeholders. The role of strategic conversations with stakeholders in the formation of corporate social responsibility strategy. 2 How does Nike communicate with their employees? 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. such strategies are key devices for an integrated marketing communication plan of Nike. The Nike Community Ambassador Program, allows Nike employees from around the world to go out and give to their community. This email includes updates on what is going on at the company, new products, and other news. The key is Nike's ability to cultivate customer trust. In 2002, in Vietnam alone, Nike hosted more than 1,000 visitors in selected contract factories. The top shareholders of Nike are Phil Knight, Mark Parker, Andrew Campion, Swoosh LLC, Vanguard Group Inc., and BlackRock Inc. (BLK). 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. How can corporate social responsibility activities create value for stakeholders? Kevin Keller is a branding expert who posits that for the process of development and sustenance of product identity and equity integrated marketing communications have an important role to play. 6 ways to effectively communicate with stakeholders. This email includes updates on what is going on at the company, new products, and other news. Ditlev-Simonsen, C. D., & Wenstop, F. (2013). Multinationals like Nike, have incorporated the values. Thus each employee can identify himself as a part of the team that is called Nike Inc Nike is endorsed by athletes who have a reputation for winning and a passion for the sport they play. Additional details can be found at nikeinc.com. Ten years ago, the company employed 38,000 people. We use cookies to ensure that we give you the best experience on our website. Nike engages with its stakeholders through various forums and organisations. 6 What kind of communication does Nike engage in? Nike competitors include adidas, New Balance, Skechers U.S.A., Steve Madden and ASICS America. Nike has the following stakeholders, arranged according to the firm's prioritization: customers, communities, employees, government, and interest groups. We do this informally, through participation and/or membership in networks and organizations and as a structured part of our outreach strategies related to issues and challenges. Besides Instagram, Nike communicate with their customers through email subscriptions. 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. Learn More. There are many different types of communication, but one type that is particularly important for businesses is advertising. Nike can create interaction with a high amount of customers with minimum expenses. Define sustainability strategies, goals and policies in consultation with key stakeholders. Employees. Diversification:Diversification is the least significant in Nikes intensive strategies for growth. Stake: Product/service quality and value. Academic Master is a writing company that provides free essays to the students all over the World. He is the co-founder and chairman emeritus of Nike, Inc., and was previously chairman and CEO of the company. 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). Certified Akashic Record Reader & Life Coach. The company started its operations in 1964, founded by Phil Knight a medium distance runner, and Bill Bowerman a track and field coach. Integrated marketing communications are strategic tools that not only bring long-run effective results for the companies but also enable the companies to build a healthy relationship with the customers that ultimately turn into brand loyalty. Nike also has a blog called NikeVoice which is a blog for employees to share their thoughts and experiences. How does Nike connect with its consumers? Although Nike recognizes there is still considerable work to do, in the last few years, Nike has taken a number of deliberate steps toward increased transparency: **Nike was the first U.S. collegiate licensee to begin listing the names and addresses of contract factories producing certain college licensed product on its website. Besides Instagram, Nike communicate with their customers through email subscriptions. In addition to the Global Compact, Nike serves as a board member of Business for Social Responsibility, the Fair Labor Association and the Global Alliance for Workers and 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. It involves several components such as the sender of the communication, the actual message being sent, the encoding of the message, the receiver and the decoding of the message. The interests of these stakeholders include fair compensation, career development opportunities, and a sense of purpose. Nike is a publicly traded company, meaning that it is beholden to its shareholders and must answer to them in order to continue to operate. How do you communicate with stakeholders? Like the majority of large corporations, Nike has learned the benefits of an expansive social media presence. Overall, Nikes marketing is very effective in communicating its brand to consumers. (2006). Nike has supported the FLA since its founding in August 1999. Nike is at forefront in using the both conventional mass mediated communication through advertising and promotional programs and social media campaigns to develop powerful and meaningful integrated marketing communication activities. Nike Inc. addresses these interests through the Nike Foundation, which serves as the companys primary means of supporting community development initiatives. Nike has revised its environmental strategy and this was explained in-depth in the company's annual sustainability report. The marketing communication of the company started when both the founders for the first time hired the staff after the completion of one year of companys operations. 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. This understanding is utilized to design products which form an integral part of Mike`s value proposition. The purpose of this process was to provide unfiltered, expert input on issues, targets and information to improve the quality and enhance the credibility of our reporting. celtic life insurance claims address; Employees are the last key stakeholder group for Nike. For example, in 2005, the Nike Foundation started its community development programs in developing countries, with focus on supporting the empowerment of girls. Does Nike have a good relationship with employees? Twitter appears to be the core platform in which Nike used to communicate important information to customers and the public. How often will you communicate with stakeholders? Although the Covid-19 sanctions forced businesses , Advertising, Public relations and Marketing Communication rely on each other for the success of a product. Employees need to feel involved in the business and that their opinions on how the company operates count. Write my paper. Are The Nike Air Max 97 Good For Running? Originally the company was named as Blue Ribbon Sports. There are two types of stakeholders; internal and external, with different interests and priorities. One company that is particularly well-known for its advertising is Nike. Nike has to communicate in its website in order to inform the consumers and the employees. So, they have joined hands with their material vendors and contract manufacturers to . What is the relationship between corporations and stakeholders? Governerates 4. Who are the 5 main stakeholders in a business? 1971 the name changed the name for 'NIKE', the logo and their design. Customers and consumers are the lifeblood of any business and Nike is no exception. As such, it has a wide range of stakeholders, from customers and consumers to investors and employees. There are many video presentation platforms out there and a lot of them are free to use. These CSR efforts are expected to maximize Nikes ability to produce more popular and advanced athletic footwear, apparel and equipment. As a global business, Nike Inc. has a wide variety of stakeholders with significant influence on the sales of the firms sports shoes and other products. This session allowed for all available participants to engage more directly with NIKE on its approach to reporting, systems change and innovation. 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. 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. If products perform their function, customers are likely to feel good when wearing Nike shoes. What communication methods does Nike use? 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. The ultimate purpose of integrated marketing communication is to develop and maintain a healthy relationship between the company and its stakeholders primarily customers. Outsourced firms are responsible for the design, planning and execution of the marketing campaigns for the respective businesses. How Much Does Adidas Pay You To Test Products? Communities. The companys website is a key source of information for stakeholders, and Nike also uses social media platforms such as Twitter and Instagram to share updates and announcements. 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. Nike has 73,300 employees worldwide. 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). Throughout the years, Nike has been rapidly growing with promoting its brand and products by the use of Internet. Corporate website of the company is ranked among the top five sports companies visited by the customers. (Coucha, 2011). It has been said in the theories of ethics that if people want to act ethically, then they need to act according to duty. These pop-ups collect customer data and are used to engage with present and possible customers regularly. Nike utilizes the DART model as a way to capitalize on the Nike+ brand. How does Nike communicate with their customers? This strategy facilitates the companys growth by targeting new markets or market segments. Investors are another important stakeholder group for Nike. 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 Inc. uses its promotional mix or marketing communications mix to communicate with target customers in the global athletic footwear, apparel, and equipment industry. They provide the capital necessary for the company to grow and expand. Kevin Keller developed a model of brand equity based on customers orientations; this model suggests that marketing communication activities contribute to awareness of the brand by linking the associations of brands with consumers minds. Communicate with stakeholders in the manner that works best for them. This stakeholder group is composed of individual and organizational buyers of Apple products.Apples Stakeholder Groups. Nov 2020 houses for rent ridgeland, ms how does nike communicate with their stakeholders. To effectively manage stakeholder communications you need to track, extract, and report. Overall, Nikes tone of voice is friendly and helpful. 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. Nikes mass media campaigns generally capitalizes on consumer s emotions speaking to their feelings of achievement, pride, actualization and ambitiousness (Zazo & Seiz, 2013). Nike has been very successful in this regard, delivering strong financial performance over the years. Governments are interested in legal and regulatory compliance, as well as business contributions to tax revenues and community development. NIKE first held a formal multi-stakeholder forum for feedback on reporting in February 2004. Nike's main focus are the athletes and not just the athletes but everyone connected with sports. Nike sells its products through three main sources: retail stores, Nike's online store, and company-owned retail outlets. Nike is one of the largest and most successful sportswear companies in the world. The pyramid of corporate social responsibility. They are the ones who buy the products and keep the company in business. 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