Consult stakeholders in dealing with implementation dilemmas and challenges and invite them to take active part in reviewing performance. Investors are another important stakeholder group for Nike. Nike has to communicate in its website in order to inform the consumers and the employees. 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. The NIKE team made changes to the report based on this feedback in the areas of articulating its strategy, content and design, certain data, metrics and dashboards, and context around and enhanced discussion of prominent business, environmental and social issues. What Are The Working Conditions Of Nike Factories In Vietnam? Employees need to feel involved in the business and that their opinions on how the company operates count. Nike also uses a distinctive tone of voice in its advertising, which is designed to be persuasive and inspiring. Nike was affiliated in footwear, sportswear, apparel of golf and team uniform on 1972 until now. For most of the businesses it is vital to have stakeholder groups because it may affect business efficiency, may increase sales, or even it may help for the business to reach its aims and objectives more effectively. A.M1 Assess the relationship and communication with stakeholders of two contrasting businesses using independent research. 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 commitment to the Global Compact is mentioned throughout its website, in select backgrounders and in its 2001 Corporate Responsibility Report. As the Coca-Cola Community Relations team got more ingrained with Quorum's tools, the process became easier and more efficient, allowing them to send even more messages to the right stakeholders. People should be offered a variety of options to communicate with you and provide their input. Consumers tend to buy more of a product that has a positive impact on communities. Considering high profitability and growing sales revenues, Nikes corporate social responsibility effectively satisfies the interests of customers as a top-priority stakeholder group. While one main reason of its popularity is its innovative products, another is its marketing. According to Archie Carroll, stakeholders are individuals or groups that have a significant stake in what the business does. NIKE and Forum jointly created a list of relevant stakeholders who possess a range of the following attributes: How does Nike communicate with their employees? As such, it has a wide range of stakeholders, from customers and consumers to investors and employees. Published by at May 21, 2022. Nike Inc. uses its promotional mix or marketing communications mix to communicate with target customers in the global athletic footwear, apparel, and equipment industry. The ultimate purpose of integrated marketing communication is to develop and maintain a healthy relationship between the company and its stakeholders primarily customers. Governments are interested in legal and regulatory compliance, as well as business contributions to tax revenues and community development. Get access to the list of our best samples for free. As of July 23, 2020, Knight was ranked by Forbes as the 24th richest person in the world, with an estimated net worth of US$54.5 billion. Nike also uses their tone of voice to build trust with their customers. Write my paper. NIKE engages with a broad range of stakeholders on an ongoing basis, including individuals in civil society organizations, industry and government, as well as consumers and shareholders. Viral marketing is an effective way of interacting with customers. 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. The report finds the current business communication strategies provided by the company successful. Send out a newsletter. How does Nike control marketing information? One of the most prominent ones among these is the Global Compact. 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. They seem to communicate with customers through this platform, providing relevant and important news updates as well as inspirational posts. This is the story of how Nike turned itself into a globe-spanning fashion brand. The name of the new member was Jeff Johnson, who opened the first retail store of the company products and devised the marketing campaign by creating marketing materials such as brochures and advertisement stuff for Blue Ribbon Sports. Their tone is upbeat and positive, and it emphasizes the importance of hard work and dedication. To view or add a comment, sign in. Thus, through such branding initiatives, Nike ensures that all its employees have the ultimate goal of creating a world-class sporting product at the back of their minds all the time. Your email address will not be published. May 02, 2019. Public , Your email address will not be published. Nike has the following stakeholders, arranged according to the firm's prioritization: Stakeholders Stakeholders 1. The mass mediated marketing communication majorly used the transformational approach to persuade the customers for purchase. W&K worked influentially for Nike by developing strong electronic and print media campaigns focusing sports men and women equally that appealed the customers on an emotional point (Anderson, 1999). See more at: http://www.nikeresponsibility.com/report/content/chapter/stakeholder-engagement-reporting#sthash.wUqBHiaN.dpuf. Between its brand legacy, its knowledgeable team and its commitment to the entire athletic experience, Nike proves it knows athletes. They also want to create business opportunities that set them apart from competition and also to provide value for their stakeholders.Having objectives in a business is very important because it brings . These pop-ups collect customer data and are used to engage with present and possible customers regularly. Nike uses a variety of communication methods to promote its products, including television commercials, print advertisements, and online ads. The interests of these stakeholders include support for the development of communities. Nike engages with its stakeholders through various forums and organisations. On nikeresponsibility.com and in its backgrounders (attached), Nike addresses issues and initiatives related to workers and contract factories making Nike-branded products (code of conduct, code leadership standards, tiered monitoring system, independent/external monitoring, new source approval process, balance scorecard and remediation plans); environmental sustainability (long-term goals, climate change, water quality standards, elimination of organic solvents and sustainable product innovation); partnerships with the Fair Labor Association and the Global Alliance for Workers and Communities; commitment to increasing youth physical activity; community investments to increase the participation of young people in physical activity to improve their lives and to develop innovative solutions that address the challenges of globalization faced by women and girls; and Nikes work toward internal and supplier diversity. Nike held its first formal stakeholder forum in February 2004. For example, the Just Do It campaign was based around the idea of overcoming obstacles and achieving your goals. Your email address will not be published. Separate online "screen to screen" meetings. Taking a somewhat limited conceptualization of engagement, Du, Bhattacharya, and Sen (2010) also suggest that creating stakeholder awareness of, and managing stakeholder perceptions towards an . As part of its corporate social responsibility strategy, Nike Inc. identifies governments as a stakeholder group. This email includes updates on what is going on at the company, new products, and other news. 3 Does Nike have a good relationship with stakeholders? It should be describing the that how important are measurements and metrics and should represent the strategic view of marketing communication and its objectives. The interests of these stakeholders include support for the development of communities. Nike also sponsors a number of events and teams, which gives it additional exposure and helps to build its brand. We see stakeholder engagement as a key enabler of both risk mitigation and innovation. Branding is another important part of Nikes marketing strategy. Does Nike have a good relationship with employees? 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. Social Media. Integrated marketing communication will be changing and evolving ever as it does though it is not lasting forever (Schultz, 2004). We use cookies for website functionality and to combat advertising fraud. How Does Nike Communicate With Their Employees? 6704. It is in unison with the internal branding initiatives of Nike without the company reshaping its value delivery mechanism. If products perform their function, customers are likely to feel good when wearing Nike shoes. The Latest Innovations That Are Driving The Vehicle Industry Forward. Through SDG reporting, organizations can communicate their progress with their stakeholders and better manage their contributions to the SDG. Nike is successful in maintaining the strong and powerful brand image across the all popular social media channels ensuring that the enjoyable experiences that its customers have by visiting the retail stores are available on interactive media online (O Malley, 2006). Who are the 5 main stakeholders in a business? Nike communicates with its stakeholders in a variety of ways. How does Nike communicate with their owners?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. Gain your stakeholders trust right from the start. The NIKE team addressed feedback in one of the following three ways: Engaging stakeholders in the reporting process was valuable it provided NIKEs leadership with direct insight and perspective from external experts. Click to read more on it. Nike also holds regular investor briefings and holds annual meetings for stakeholders to provide an overview of the companys performance and plans for the future. Nike has admitted it cannot guarantee that its products will not be made using child labour in a report designed to address the accusations that have plagued the company. As a result, Nike is one of the most successful and well-known brands in the world. The marketing communication with an integrated approach builds a high-profile for the brand that contributes to the esteem of the business. Save my name, email, and website in this browser for the next time I comment. For Nikes business reputation, it was important to be vigilant with communication to external stakeholders to ensure all external contractors and other stakeholders are satisfied. To inspire greatness inside and outside of work, we offer employees competitive health, financial, security, and work-life benefits. Our stakeholders are those people or organizations who affect or are affected by our operations, including the following: adidas employees. 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). In this context, NIKE approaches governance with a view to enhancing long-term shareholder value. Nike is a champion brand builder. 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. Stakeholder relations is the practice of forging mutually beneficial connections with third-party groups and individuals that have a stake in common interest. Nike believes in ongoing dialogue with outside parties talking about the companys challenges as well as its successes, and in the process, helping to create a greater understanding of global supply chains and how to make them better. Shareholders are always stakeholders in a corporation, but stakeholders are not always shareholders. Pater, A., & Van Lierop, K. (2006). #2 Employees. Forum played the role of a neutral facilitator in this process and helped to reframe the conversation around not only our reporting but also our approach. The highlight of the social media communication strategy of Nike is that it has around fifty microsites maintained separately and tailored to meet the requirements of integrated marketing communication strategies (Anderson, 1999). 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