Is Nike’s strategic plan responsible for the company’s success? Find out in the essay below. Company Overview Nike, Inc. is a multinational corporation that was established in 1964. Phil Knight and Bill Bowerman founded the firm that was initially known as Blue Ribbon Sports. However, it changed its name to Nike Incorporation in 1971. Its head office is located at Beaverton, Oregon. Since its inception, Nike, Inc. has successfully penetrated the apparel and accessories industry. The firm specializes in designing, developing, and manufacturing apparel, footwear, and accessory products. Independent contractors, most of whom are located outside the US, produce its products. Nike primarily designs it products for athletic purposes. However, a significant proportion of its products are worn for leisure and casual reasons (Nike Incorporation, 2013). Currently, Nike, Inc. is renowned as the largest manufacturer and supplier of athletic shoes and sports equipment in the world. The firm distributes its products through independent distributors, retail accounts, and company-owned retail stores. The firm has also adopted the concept of online marketing. Nike’s success over the past decades has arisen from new product development and commitment towards marketing. Between 1990 and 1999, Nike extended its market reach by venturing into the sports industry. The firm started designing customized sports apparel for specific teams such as the Brazilian National Team and the United States men and female national soccer teams. Moreover, the firm adopted the concept of product endorsement by contracting sports celebrities. In 1995, Nike contracted Eldrick ‘Tiger’ Woods to be its marketing ambassador (Nike Incorporation, 2013). By the end of 2013, Nike had a human resource base of over 48,000 employees in all its stores that are located in different parts of the world. The firm considers human capital one of the most valuable aspects in achieving operational efficiency. Subsequently, the firm has nurtured an effective employee relationship. Mission Nike, Inc. intends to provide athletes around the world with innovative and inspiring products. Corporate Values Nike’s operations are based on a number of principles, which are commonly referred to as the 11 maxims as illustrated below. Competitiveness The firm ensures that all its operations are focused on sustaining its competitiveness in a market that is characterized by a high rate of change. It urges its employees to act like leaders while executing their responsibilities. Innovation The firm perceives innovation as the core component in achieving organizational competency. Profit maximization Nike, Inc. is a business. Subsequently, its operations are profit oriented. Nike is a brand The firm is committed towards ensuring that its products achieve global market recognition. To achieve this goal, the firm is focusing on fostering brand recognition through effective brand management practices such as developing brand identity. Its ‘swoosh’ logo, which indicates speed, has gained remarkable market recognition around the world. The firm perceives its logo (‘swoosh’ symbol) as a mark of global leadership. Therefore, Nike only penetrates markets that it believes it can attain market leadership (Nike Incorporation, 2013). Simplify and