Planning of Nike

The mission statement of Nike is to bring inspiration and innovation to every athlete in the world. Planning is to select goals and ways to attain them. Nike has a strategic plan that a company needs in order to succeed at anything. The manger is taking actions in terms of strengths and opportunities. Besides, Nike needs to set goals and determine the best way to overcome weaknesses and threats for the company. The strengths for the Nike’s company will be strong at research and development and it is listed as number one sports brand in the world. As for weaknesses, the retail sector is very sensitive to prices and it depends heavily on market share of footwear. However, the opportunity of Nike has becoming trendy footwear. We can also see that competitors are trying hard to develop alternative brands in order to take away Nike’s market share which is a threat for Nike’s company. The business strategy used by Nike is a product differentiation strategy. Nike focuses on branding advertising, designation of the products, exclusive customer service and high quality products. Product differentiation helps to boost up the sales of Nike. Nike designs most of the footwear for athletic purpose. Nike differentiates its products into variety of ways. For example, Nike segmented its products into three different levels of people which are men, women and children. Each of these segments is categorized based on the physiology and trend of choices. Nike’s company trained their employees with the skills such as interpersonal skills and technical skills. Interpersonal skills are needed by everyone as it helps to work well with other people both individually and in groups. For example, Nike has employees who are very happy working with them by having good atmosphere and having good standards for all the workers who work in the business. Nike’s employees has technical skills which are the job-specific knowledge and techniques needed to perform work tasks from the workers and those