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Nike Strategic Planning

In: Business and Management

Submitted By mruwe21
Words 1770
Pages 8
Strategic Planning Strategic planning is something the Nike has been something that Nike has put much more emphasis on during the last decade. They realize that by planning well, they can produce higher quality products while improving their bottom line. Nike’s Strategic Planning team establishes a strategic business planning process, authors our one and three year strategic and business plans, and leads transformational initiatives in collaboration with cross-functional teams. Strategic Planning teams are embedded at the global corporate level and throughout their business units. This team frames complex and ambiguous issues, conducts consumer, competitive, and market analyses, fields research, creates financial models, and develops action plans (Nikebiz.com, 2010).
One example of this is Nike's move to combine its reputation in high-performance athletic footwear with the iPod's meteoric success. In 2006, the company, which accounts for the largest share of running shoes sold in the United States, teamed up with Apple to launch Nike+: a digital sports kit comprising a sensor that attaches to your running shoe and a wireless receiver that connects to your iPod. As you jog and listen to your favorite music, the sensor tracks your speed and distance and the calories you've burned, and transmits that information to your iPod in real time. Back at your computer, you can upload your data to nikeplus.com, which stores your information and provides a user-friendly interface that lets you track your progress (Ofek & Wathieu, 2010). By switching their old ways of treating every market the same and just throwing generalized products at consumer, to their new strategy of developing products for specific demographics, Nike has provided a higher quality product. Not only is the tangible product (the actual shoe) better suited to runners, they can also experience the...

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