Nike, Inc.

Strategic Analysis 2009

Jarryd Phillips, Jermaine West, Spencer Jacoby, Othniel
Hyliger, Steven Pelletier
HISTORY FINANCIAL TRENDS
MAJOR MILESTONES STRENGTH & WEAKNESSES
CURRENT VISION & MISSION IFE MATRIX
STATEMENTS
STRATEGIC ASSESSMENT
PROPOSED VISION & MISSION
SWOT MATRIX
STATEMENTS
SPACE MATRIX
GRAND STRATEGY MATRIX
EXTERNAL ASSESSMENT BCG MATRIX
POSITIONING MAP IE MATRIX
CPM MATRIX MATRIX ANALYSIS
QSPM
OPPORTUNITIES & THREATS RECOMMENDATIONS
EFE MATRIX OBJECTIVES

INTERNAL ASSESSMENT STRATEGIC IMPLEMENTATION

PROJECTED INCOME STATEMENT
ORGANIZATIONAL CHART
PROJECTED BALANCE SHEET
2009 INCOME STATEMENT PROJECTED FINANCIAL RATIOS
2009 BALANCE SHEET
CURRENT FINANCIAL RATIOS EVALUATION
BALANCED SCORECARD
SOURCES
QUESTIONS
2
3
 1970- The Swoosh first appears on a football/soccer cleat called the Nike.
1978- Tennis "bad boy" John McEnroe is signed by Nike to an endorsement
contract.
1989- Nike enters the European football market
1994 +2003- Nike wins Advertiser of the Year at the Cannes Advertising Festival.
1996- Nike signs Tiger Woods
1999- Bill Bowerman, co-founder of Nike, dies on Dec. 24 at age 88.
2002- Nike purchases Hurley International
2003- Nike acquires once-bankrupt rival Converse for $305 million
2004- Phil Knight steps down as CEO and President of Nike, but continues as
chairman
2005- Nike Signs Tennis Pro Rafael Nadal.
2006- Nike and Apple release the Nike+iPod sports kit
2008- Nike sells its Nike Bauer hockey equipment division & purchases Umbro.

4
"To bring inspiration and innovation to every
athlete in the world"

If you have a body, you are an athlete.

Nike co-founder Bill Bowerman

5
To lead in corporate citizenship through
proactive programs that reflect caring for the
world family of Nike, our teammates, our
consumers, and those who provide services
to Nike.

6
To equip every athlete with products that
combine performance, quality, and fashion.

7
At Nike, we desire to deliver superior products to customers and athletes
that are both safe and dependable (1, 2 and 6). Our well trained
employees and experienced executives will ensure a competitive
advantage for our markets, growth for the company, and profits for our
shareholders (5). Our commitment to social responsibility and the
communities in which we operate will ensure business relationships and
alliances for the future and a perception of concern with our stakeholders
(6, 8). We will continue to utilize innovation and technology to provide our
employees with the best possible work environment while adapting to the
many changes in the global market (3, 4, 7, and 9).

1. Customers
2. Products or services
3. Markets
4. Technology.
5. Concern for survival, growth, and
profitability
6. Philosophy
7. Self-concept
8. Concern for public image
9. Concern for employees 8
9
 High Performance

Low Price High Price

Low Performance

10
 NIKE ADIDAS PUMA
Weighted Weighted Weighted
Critical Success factors Weights Rating Score Rating Score Rating Score
0.0 to 1.0 1 to 4 1 to 4 1 to 4
Advertising 0.10 3 0.30 4 0.40 3 0.20
Product Quality 0.08 4 0.32 3 0.24 2 0.16
Price Competitiveness 0.08 2 0.16 3 0.24 1 0.08
Management 0.06 3 0.18 4 0.24 2 0.12
Financial Position 0.08 4 0.32 3 0.24 1 0.08
Customer Loyalty 0.05 3 0.15 2 0.10 1 0.05
Global Expansion 0.05 3 0.15 4 0.20 2 0.10
Market Share 0.08 4 0.32 2 0.16 1 0.08
Brand 0.09 4 0.36 3 0.27 1 0.09
Endorsement Deals 0.10 4 0.40 3 0.30 3 0.30
Portfolio Diversification 0.08 3 0.24 4 0.32 2 0.16
Product Placement 0.09 3 0.27 2 0.18 1 0.09
Research & Development 0.06 3 0.18 4 0.24 1 0.06
Totals 1.00 3.35 3.13 1.57

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1. Creating sportswear that would incorporate recycled
materials from their own production lines and other places.
2. Promotion as a fashionable wear, not just sportswear.
3. Growing segment of the female athletes.
4. International expansion into emerging markets e.g.. India
5. Additional marketing of existing products to appeal to new
demographic groups.
6. Develop new alliances with companies that are respected
regarding social responsibility.
7. Brand reorganization by market regions

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1. High competitive industry
2. Failure to respond to market trends in timely
manner could greatly affect financial position.
3. Production of counterfeit goods, and generic
products.
4. Negative public perception created by
environmental, child labor, contracted
manufacturing issues, and sponsored athletes.
5. International currency changes could decrease
profits.
6. Federal Trade regulations in dealing with foreign
manufactures.
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 External Opportunities
1. Creating sportswear that would incorporate recycled
materials from their own production lines and other places. 0.05 3 0.15
2. Promotion as a fashionable wear, not just sportswear. 0.06 2 0.12
3. Growing segment of the female athletes. 0.08 3 0.24
4. International expansion into emerging markets e.g. India 0.12 4 0.48
5. Additional marketing of existing products to appeal to new
demographic groups. 0.07 2 0.14
6. Develop new alliances with companies that are respected
regarding social responsibility. 0.06 1 0.06
7. Brand reorganization by market regions 0.07 2 0.14

External Threats
1. High competitive industry 0.14 4 0.56
2. Failure to respond to market trends in timely manner could
greatly affect financial position. 0.09 4 0.36
3. Production of counterfeit goods, and generic products. 0.06 2 0.12
4. Negative public perception created by environmental, child
labor, contracted manufacturing issues, and sponsored athletes. 0.09 3 0.27
5. International currency changes could decrease profits. 0.06 2 0.12
6. Federal Trade regulations in dealing with foreign
manufactures. 0.05 2 0.27

Totals 1.00 3.03 14

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 Year Ended May 31

(In millions, except per share data) 2009 2008 2007

Revenues $ 19,176.10 $ 18,627.0 $ 16,325.9

Cost of sales $ 10,571.70 $ 10,239.6 $ 9,165.4

Gross margin $ 8,604.40 $ 8,387.4 $ 7,160.5

Selling and administrative expense $ 6,149.60 $ 5,953.7 $ 5,028.7

Restructuring charges (Note 16) $ 195.00 $ - $ -

Goodwill impairment (Note 4) $ 199.30 $ - $ -

Intangible and other asset impairment (Note 4) $ 202.00 $ - $ -

Interest income, net (Notes 1, 7 and 8) $ (9.50) $ (77.1) $ (67.2)

Other (income) expense, net (Notes 17 and 18) $ (88.50) $ 7.9 $ (0.9)

Income before income taxes $ 1,956.50 $ 2,502.9 $ 2,199.9

Income taxes (Note 9) $ 469.80 $ 619.5 $ 708.4

Net income $ 1,486.70 $ 1,883.4 $ 1,491.5

Basic earnings per common share (Note 12) $ 3.07 $ 3.80 $ 2.96

Diluted earnings per common share (Note 12) $ 3.03 $ 3.74 $ 2.93

Dividends declared per common share $ 0.98 $ 0.875 $ 0.71

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 May 31,
2009 2008
(In millions)
ASSETS
Current assets:
Cash and equivalents $ 2,291.10 $ 2,133.90
Short-term investments $ 1,164.00 $ 642.20
Accounts receivable, net (Note 1) $ 2,883.90 $ 2,795.30
Inventories (Notes 1 and 2) $ 2,357.00 $ 2,438.40
Deferred income taxes (Note 9) $ 272.40 $ 227.20
Prepaid expenses and other current assets $ 765.60 $ 602.30
Total current assets $ 9,734.00 $ 8,839.30
Property, plant and equipment, net (Note 3) $ 1,957.70 $ 1,891.10
Identifiable intangible assets, net (Note 4) $ 467.40 $ 743.10
Goodwill (Note 4) $ 193.50 $ 448.80
Deferred income taxes and other assets (Notes 9 and 18) $ 897.00 $ 520.40
Total assets $ 13,249.60 $ 12,442.70
LIABILITIES AND SHAREHOLDERS EQUITY
Current liabilities:
Current portion of long-term debt (Note 8) $ 32.00 $ 6.30
Notes payable (Note 7) $ 342.90 $ 177.70
Accounts payable (Note 7) $ 1,031.90 $ 1,287.60
Accrued liabilities (Notes 5 and 18) $ 1,783.90 $ 1,761.90
Income taxes payable (Note 9) $ 86.30 $ 88.00
Total current liabilities $ 3,277.00 $ 3,321.50
Long-term debt (Note 8) $ 437.20 $ 441.10
Deferred income taxes and other liabilities (Note 9) $ 842.00 $ 854.50
Commitments and contingencies (Notes 15 and 18) $ - $ -
Redeemable Preferred Stock (Note 10) $ 0.3 $ 0.3
Shareholders equity:
Common stock at stated value (Note 11):
Class A convertible 95.3 and 96.8 shares outstanding $ 0.1 $ 0.1
Class B 390.2 and 394.3 shares outstanding $ 2.7 $ 2.7
Capital in excess of stated value $ 2,871.40 $ 2,497.80
Accumulated other comprehensive income (Note 14) $ 367.50 $ 251.40
Retained earnings $ 5,451.40 $ 5,073.30
Total shareholders equity 8693.1 7825.3 18
Total liabilities and shareholders equity 13249.6 12442.7
 Liquidity Ratios
Current 2.97
Quick 2.25
Leverage Ratios
Debt to total assets 0.06
Debt to equity 0.09
Long-term debt to equity 0.05
Times-interest-earned ratio 61.06
Activity Ratios
Fixed Assets Turnover 9.8
Total Assets Turnover 1.45
Inventory Turnover 8.14
Profitability Ratios
Gross profit margin 0.45
Operating profit margin 0.13
Net profit margin 0.08
Return on assets 0.11
Return on equity 0.17
Price-earnings ratio 18.83
EPS 3.03

Growth Ratios 3 Years

Sales Growth% 0.28226
Net Income Growth% 0.06803
Earnings per share Growth% -0.4261
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Dividends per share Growth% -0.1695
 Date Sales EBIT DEPRECIATION TOTAL NET INCOME LONG TERM DEBT
May-09 19.18 Bill 1.96 Bill 347.00 Mill 1.49 Bill 437.20 Mill

May-08 18.63 Bill 2.50 Bill 312.80 Mill 1.88 Bill 441.10 Mill

May-07 16.33 Bill 2.20 Bill 279.60 Mill 1.49 Bill 409.90 Mill

May-06 14.95 Bill 2.14 Bill 291.80 Mill 1.39 Bill 410.70 Mill

May-05 13.74 Bill 1.86 Bill 266.50 Mill 1.21 Bill 687.30 Mill

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1. Recognized brand name Swoosh is ubiquitous
2. Strong in research and development innovative
product development
3. Strong marketing campaign - sponsors top
athletes. Marketing practices enables them to
expand the athletic market.
4. Diverse portfolio
5. Successful advertising campaigns.
6. Customer loyalty
7. Strong financial position
8. Strong international presence

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1. Products are highly priced
2. Revenues are still mostly dependent upon
footwear sales
3. History for violations of minimum wages, child
labor and over times in its manufacturing
countries.
4. Little control over quality of products from 3 rd
party contractors
5. Anti-globalization groups
6. Price sensitivity of products
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 Internal Strengths

Recognized brand name Swoosh is ubiquitous 0.10 4 0.40

Strong in research and development innovative
product development 0.07 3 0.21
Strong marketing campaign - sponsors top athletes.
Marketing practices enables them to expand the
athletic market 0.09 4 0.36

A very professionally competitive company 0.08 3 0.24

Diverse portfolio 0.08 3 0.24
Successful advertising campaigns 0.09 4 0.36
Customer loyalty 0.06 3 0.18
Strong financial position 0.09 4 0.36
Strong international presence 0.10 4 0.4
Internal Weaknesses
Products are highly priced 0.06 2 0.12
Revenues are still mostly dependent upon footwear
sales 0.05 2 0.10

History for violations of minimum wages, child labor

and over times in its manufacturing countries. 0.06 2 0.12
Little control over quality of products from 3rd party
contractors 0.05 1 0.05
Anti-globalization groups 0.04 2 0.08
Price sensitivity of products 0.06 2 0.12
Totals 1.00 3.10 23
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25
Financial Strength rating is 1 (worst) to 6 (best) Ratings
1 Liquidity 6.0
2 Leverage 6.0 ES average -1.29
3 Working capital 6.0 CA average -1.43
4 Return on assets 4.0 IS average 5.29
5 Return on equity 4.0 FS average 5.29
6 Price per earnings 6.0
7 Earnings per share 5.0 X Coordinate 3.86
Industry Strength rating is 1 (worst) to 6 (best) FS Total 37.0
Y Coordinate 4.00
1 Profit potential 6.0
2 Extent Leveraged 5.0
3 Economies of scale 5.0 Strategy ->>>> Aggressive
4 Growth potential 5.0
5 Financial stability 6.0
6 Resource utilization 5.0
7 Diverse Portfolio 5.0
Environmental Stability rating is -1 (best) to -6 (worst) IS Total 37.0
1 Price range of competing products -2.0
2 Competitive pressure -2.0
3 Ease of exit from market -1.0
4 Successful and recognized advertising -1.0
5 Endorsement agreements -1.0
6 Price elasticity of demand -1.0
7 Risk involved in business -1.0
Competitive advantage rating is -1 (best) to -6 (worst) ES Total -9.0
1 Market share -1.0
2 Global presence -1.0
3 Strong investor reputation -1.0
4 Technological innovation -1.0
5 Product life cycle -2.0
6 Customer loyalty -1.0
7 Control over suppliers and distributors -3.0
CS total -10.0 26
 Rapid Market Growth

Quadrant II
Quadrant I

Weak
Competitive Strong
Market Competitive
Market

Quadrant III

o Market Development Quadrant IV

o Market Penetration
o Product Development
o Forward Integration
o Backward Integration
o Horizontal Integration
o Related Diversification Slow Market Growth
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 High 1.0 0.9 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0 Low
+25
+20 II I
+15 Stars Question Marks
+5
(4) 11%
(3) 17%

(1) 35%
IGR 0

(2) 37%
-5
Cash Cow Dogs
-15
III IV
-20

-25
Low
Divisions Revenue % Revenue Profits % Profits RMSP IG Rate%

(1) U.S. 6,542.9 39% 837.2 35% 1 1.20%

(2) AMEA 5,512.2 33% 877.1 37% 1 -2.20%

(3) Asia Pacific 3,322.0 20% 394.6 17% 1 2.70%

(4) Americas 1,284.7 8% 263.6 11% 1 1.20%

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Total 16,661.8 100% 2,372.5 100%
 High 3-4

E
F Medium 2-2.99

Low 1-1.99

Strong 3-4 Average 2-2.99 Weak 1-1.99

IFE

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Alternative Strategies IE SPACE GRAND BCG Count
Forward Integration x x x x 4
Backward Integration x x x x 4
Horizontal Integration x x x x 4
Market Penetration x x x x 4
Market Development x x x x 4
Product Development x x x x 4
Related Diversification x x 2
Unrelated Diversification x 1
Horizontal Diversification
Joint Venture
Retrenchment x 1
Divestiture x 1
Liquidation x 1

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 Market Expansion Prod/Recycle/Materials Add. Sports Accessories
Key factors Weight AS TAS AS TAS AS TAS
External 1 to 4 1 to 4 1 to 4
Create products from recycled materials 0.1 3 0.3 2 0.2 4 0.4
Promotion as a fashionable wear, not just sportswear. 0.07 3 0.21 1 0.07 2 0.14
Growing segment of the female athletes 0.08 - - - - - -
International expansion into emerging markets - India 0.12 4 0.48 2 0.24 1 0.12
Add. marketing of existing prod - appeal to new groups 0.1 3 0.3 2 0.2 4 0.4
New alliances with co. respected for social responsibility 0.06 3 0.18 2 0.12 1 0.06
Brand reorganization by market regions 0.06 4 0.24 1 0.06 2 0.12
High competitive industry 0.08 4 0.32 3 0.24 2 0.16
Failure to respond to market trends in timely manner 0.06 - - - - - -
Negative public perception 0.06 - - - - - -
Federal Trade regulations with foreign manufactures 0.08 4 0.32 3 0.32 2 0.16
International currency changes could decrease profits 0.07 2 0.14 4 0.32 3 0.21
Production of counterfeit goods, and generic products 0.06 3 0.18 2 0.12 1 0.06
total should be 1.0 1
Internal 1 to 4 1 to 4 1 to 4
Recognized brand name Swoosh is ubiquitous 0.1 4 0.4 3 0.3 2 0.2
Strong in research and development/innovation 0.09 4 0.36 2 0.18 3 0.27
Strong marketing campaign/sponsors top athletes 0.08 2 0.16 1 0.08 3 0.24
Diverse portfolio 0.09 1 0.09 3 0.27 2 0.18
Successful advertising campaigns 0.07 1 0.07 2 0.14 3 0.21
Customer loyalty 0.07 3 0.21 2 0.14 1 0.07
Strong financial position 0.08 2 0.16 3 0.24 4 0.32
Strong international presence 0.08 4 0.32 3 0.24 1 0.08
Products are highly priced 0.06 1 0.06 2 0.12 3 0.18
Revenues still mostly dependent upon footwear sales 0.05 3 0.15 2 0.1 1 0.05
Violations for wages and child labor in manuf. countries 0.06 - - - - - -
Little control over quality of prod. from 3rd party contract. 0.06 2 0.12 3 0.18 1 0.06
Anti-globalization groups 0.05 - - - - - -
Price sensitivity of products 0.06 3 0.18 2 0.12 1 0.06
total should be 1.0 1 0
4.95 4 31
3.75
32
 To continue being the world leader in sports equipment
and apparel.
To complete brand reorganization within market
regions that will lower cost of sales.
To create sportswear that would incorporate recycled
material.
To develop new alliances with companies who are well
respected regarding social responsibility.
To invest in additional marketing of existing products
that will appeal to new demographic groups.
To promote products as fashion wear, not just
sportswear.

33
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 Year Ended May 31 Projected
2009 2010
(In millions, except per share data)

Forecasted 1.5%
Revenues $ 19,176.10 $ 19,463.74 revenue increase.

Cost of sales $ 10,571.70 $ 10,730.28 1.5% increase.

Gross margin $ 8,604.40 $ 8,733.47

3.3% increase
from previous
Selling and administrative expense $ 6,149.60 $ 6,351.95 year.
Restructuring charges (Note 16) $ 195.00 $ -
Goodwill impairment (Note 4) $ 199.30 $ 50.00
Intangible and other asset impairment (Note 4) $ 202.00 $ -

Interest income, net (Notes 1, 7 and 8) $ (9.50) $ (9.50)

Other (income) expense, net (Notes 17 and 18) $ (88.50) $ (88.50)

Income before income taxes $ 1,956.50 $ 2,429.52

Based on 24%
Income taxes (Note 9) $ 469.80 $ 583.08 from 2009
Net income $ 1,486.70 $ 1,846.43
Basic earnings per common share (Note 12) $ 3.07 $ 3.20
Diluted earnings per common share (Note 12) $ 3.03 $ 3.16
Dividends declared per common share $ 0.98 $ 1.00
35
 Year Ended May 31, Projected
2009 2010

ASSETS

Current assets:
Cash and equivalents $ 2,291.10 $ 2,163.80 Minus $161.67 in investment.
Short-term investments $ 1,164.00 $ 1,164.00
Accounts receivable, net (Note 1) $ 2,883.90 $ 2,976.18 3.2% previous

Inventories (Notes 1 and 2) $ 2,357.00 $ 2,628.00 Influenced by the cricket line

Deferred income taxes (Note 9) $ 272.40 $ 272.40
Prepaid expenses and other current assets $ 765.60 $ 900.00
Total current assets $ 9,734.00 $ 10,104.38

Property, plant and equipment, net (Note 3) $ 1,957.70 $ 1,972.70 Plus $15 million for three new stores.
Identifiable intangible assets, net (Note 4) $ 467.40 $ 467.40
Goodwill (Note 4) $ 193.50 $ 95.00
Deferred income taxes and other assets (Notes 9 and 18) $ 897.00 $ 977.56
Total assets $ 13,249.60 $ 13,617.04
LIABILITIES AND SHAREHOLDERS EQUITY
Current liabilities:
Current portion of long-term debt (Note 8) $ 32.00 $ 6.90
Notes payable (Note 7) $ 342.90 $ 375.00
Accounts payable (Note 7) $ 1,031.90 $ 1,051.50
Accrued liabilities (Notes 5 and 18) $ 1,783.90 $ 1,783.90
Income taxes payable (Note 9) $ 86.30 $ 90.00
Total current liabilities $ 3,277.00 $ 3,307.30
Long-term debt (Note 8) $ 437.20 $ 405.20 Less portion of $32.0
Deferred income taxes and other liabilities (Note 9) $ 842.00 $ 872.71
Commitments and contingencies (Notes 15 and 18) $ -
Redeemable Preferred Stock (Note 10) $ 0.30 $ 0.30
Shareholders equity:
Common stock at stated value (Note 11):
Class A convertible 95.3 and 96.8 shares outstanding $ 0.10 $ 0.10
Class B 390.2 and 394.3 shares outstanding $ 2.70 $ 2.70
Capital in excess of stated value $ 2,871.40 $ 2,995.40
Accumulated other comprehensive income (Note 14) $ 367.50 $ 367.50
Retained earnings $ 5,451.40 $ 5,665.83
Total shareholders equity $ 8,693.10 $ 9,031.53 36
Total liabilities and shareholders equity $ 13,249.60 $ 13,617.04
 2009 Projected 2010
Liquidity Ratios
Current 2.97 3.06
Quick 2.25 2.26
Leverage Ratios
Debt to total assets 0.06 0.06
Debt to equity 0.09 0.09
Long-term debt to equity 0.05 0.04

Times-interest-earned ratio 48.55 65.66

Activity Ratios
Fixed Assets Turnover 9.8 9.87
Total Assets Turnover 1.45 1.43
Inventory Turnover 8.14 7.41
Profitability Ratios
Gross profit margin 0.45 0.45
Operating profit margin 0.1 0.12
Net profit margin 0.08 0.09
Return on assets 0.11 0.14
Return on equity 0.17 0.20
Price-earnings ratio 18.83 17.83
EPS 3.03 3.20

Growth Ratios 3 Years 1 Year

Sales Growth% 0.28226 1.50
Net Income Growth% 0.06803 24.20

Earnings per share Growth% -0.4261 4.23

Dividends per share Growth% -0.1695 2.04

37
38
 Area of Objectives Measure Time Expectation Primary Responsibility
Customers
1. Customer satisfaction Customer and online surveys Quarterly Managers/ Marketing
2. Customer Loyalty Product and purchasing reviews. Quarterly Marketing
Memberships and number of returning and
new customers.
3. Accessibility Open more stores in various countries. Biannually- Annually Marketing
Managers/Employees
1. Improve working conditions Increase in productivity, employee surveys. Quarterly CEO
2. Improve employee training Increase in productivity and overall Quarterly Human Resources
operating efficiency
Community/Social Responsibility
1. Business Ethics Endorse positive role model athlete`s. Annually CEO
Increase promotion of sports and wellness.
2. Environmentally Friendly Recycle materials, improve reputation and Biannually CEO
customer perspective.
3. Community involvement Run local sports camps, community/ city Biannually Regional Managers
events- increase customer awareness.
Operations/ Processes
1. Improve Brand Image Increase in sales and customer Quarterly CEO
recommendations.
2. Product Innovation Number of new stores, products and Quarterly CEO/ Marketing
marketing
3. Market Penetration Number of stores and sales in new/ other Annually Marketing
countries
Financial
1. Reduce Cost of production Decrease in production expenses. Annually CFO
2. Increase Revenue Increase in annual sales Annually CFO
39
 http://www.youtube.com/watch?v=4Uugz5Y
7u6M

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 http://investors.nikeinc.com/Investors/Financial-Reports-and-Filings/Annual-Reports/default.aspx
http://investors.nikeinc.com/Theme/Nike/files/doc_financials/AnnualReports/2009/docs/Nike_200
9_10-K.pdf
http://investors.nikeinc.com/Theme/Nike/files/doc_financials/AnnualReports/2006/docs/10k.pdf
http://
investing.businessweek.com/research/stocks/financials/financials.asp?ticker=NKE:US&dataset
=incomeStatement&period=A&currency=native
http://finance.yahoo.com/q/is?s=NKE+Income+Statement&annual
http://www.nike.com/nikeos/p/nike/en_US/?&ref
Datamonitor.com UMFK library sites
http://en.wikipedia.org/wiki/List_of_most_populous_cities_in_India
www.yahoofinance.com
https://materials.proxyvote.com/Approved/654106/20090724/AR_44240/HTML2/default.htm
http://en.wikipedia.org/wiki/Nike_timeline
http://nikeinc.com/pages/history-heritage
http://investing.money.msn.com/investments/financial-statements?symbol=NKE
http://www.nike.com/nikeos/p/nike/en_IN/store_locator
Strategic Management Concepts and Cases 13 th Edition. Fred R. David.

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