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1、Nike.Inc.-2009CaseNotesPreparedby:Dr.MernoushBantonCaseAuthor:RandyHarrisA. CaSeAbStraCtNike,Inc.()isacomprehensivestrategicmanagementcasethatincludesthecompanysfiscalMay31n2009financialstatements,competitorinformationandmore.Thecasetimesettingistheyear2009.Sufficientinternalandexternaldataareprovid
2、edtoenablestudentstoevaluatecurrentstrategiesandrecommendathree-yearstrategicplanforthecompany.HeadquarteredinBeaverton,Oregon.NikeistradedontheNewYorkStockExchangeundertickersymbolNKE.B. ViSionStatement(Actual)Bringinspirationandinnovationtoeveryathleteintheworld.C. MiSSiOnStatement(Actual)wTobethe
3、leadingsportsbrandintheworld/MiSSionStatement(Proposed)Asthelargestsellerofathleticfootwearandathleticapparelintheworld(2,3),wecreateproductsforconsumersandathletics(1)whoenjoyhavingqualityproductsthatarehighperformanceandreliablesuchasshoes,apparel,andtechnologicallyadvancedequipment)(4).Ourdedicat
4、edemployees(9)continuouslyworkondevelopingnewproducts,price,andproductidentitythroughmarketingandpromotion(7).Thecompanyaimstoleadinroralecitizenship(8)throughproactiveprogramsthatreflectcaringfortheworldfamilyofNike(6)andbyensuringcontinuousgrowthandprofitabilitytoourinvestorsandstakeholders(5).1.
5、Customer2. ProductsorSerViCeS3. Markels4. Technology5. Concernforsurvival,profitability,growth6. Philosophy7. Self-concept8. Concernforpublicimage9. ConcernforemployeesD.EXternalAUditCPM-CompetitiveProfileMatrixNikeAdidasPumaCriticalSuccessFactorsWeightRatingWeightedScoreRatingWeightedScoreVightdRat
6、ingScorePricecompetitiveness0.1030.3020.2010.10GlobalExpansion0.0740.2830.2120.14OrganizationalStructure0.0430.1210.0410.04Technology0.09302710.0920.18ProductSafety0.1520.3030.4540.60Customer1.oyalty0.0940.3630.2720.18MarketShare0.0940.3630.2720.18Advertising0.1240.4830.3620.24ProductQuality0.1230.3
7、620.2410.12ProductImage0.07402830.2120.14FinancialPosition0.0640.2430.1820.12Total1.003.352.522.04Opportunities1. Youngerconsumersarelesspricesensitiveandgenerallyspendmoreoncasualandathleticftwearthanolderconsumers2. Mostfootwearcompanieshaveoutsourcedtheirproductionabroadinordertomaintainlowercost
8、andR&Dexpenses3. USfootwearimportstotaled2.36billionpairsin2007,orroughly7.9pairspercapitawhichiswasup0.4percentfrom20064. NorthAmericanFreeTradeAgreement(NAFTA)andtheWorldTradeOrganization(WTO),bothhelpedeliminatequotasandtariffbarriersforforeignfootwearmanufacturerstoshiptheirgoods5. TheInternetal
9、lowsfootwearcompaniestopursueadirecttoconsumersaleschannel6. Salesofapparel,accessories,andfootwearontheInternethasbeengrowingatadoubledigitpace,siderablyfasterthanmoretraditionalsalesmodelssuchasretailstores7. Internetsalesofapparel,accessories,andfootwearcouldreach18percentofcategorysalesby20128.
10、CompaniesthataddedaWeb-basedsalesstrategyareabletocustomizefootwearandothermerchandisedirectlytothecustomersneedsandtaste,areenabletoachieveconsiderablybetterpricingaswellasdeepeningtheemotionalbondnsumershavewiththebrandThreats1. Aftertheageof40,thetypicalconsumerisnotwillingtopaymorethan$35to$40pe
11、rpairforathleticfootwear2. Competitionisstrongamongathleticfootwearandapparelfromoffbrandmpanies3. FluctuationofforeigncurrencyimpactsthecostofimportinggoodstotheU.S.4. Increaseinunemploymenthasimpactedthehouseholdincomewhichmayresultinspendinglessonbrandname5. Barriertoentryislow6. 1.evelofinventor
12、yisincreasinginmanyretailstoresdueweakeconomyExternalFactorEvaluation(EFE)MatrixKeyExternalFactorsWeightRatingWeightedScoreOpportunities1.Youngerconsumersarelesspricesensitiveandgenerallyspendmoreoncasualandathleticfootwearthanolderconsumers0.0830.242.Mostfootwearmpanieshaveoutsourcedtheirproduction
13、abroadinordertomaintainlowercostandR&Dexpenses0.0740.283.USfootwearimportstotaled2.36billionpairsin2007,orroughly7.9pairspercapitawhichiswasup0.4percentfrom20060.0730.214.NorthAmericanFreeTradeAgreement(NAFTA)andtheWorldTradeOrganization(WTO)1bothhelpedeliminatequotasandtariffbarriersforforeignfoove
14、armanufacturerstoshiptheirgoods0.0640.245.TheInternetallowsfootwearcompaniestopursueadirecttosumersaleschannel0.0740.286.Salesofapparel,accessories,andfootwearontheInternethasbeengrowingatadoubledigitpace,considerablyfasterthanmoretraditionalsalesmodelssuchasretailstores0.0830.247.Internetsalesofapp
15、arel,accessories,andfootwearuldreach18percentofcategorysalesby20120.0740.288.CompaniesthataddedaWeb-basedsalesstrategyareabletocustomizefootwearandothermerchandisedirectlytothecustomersneedsand0.0630.18taste,areenabletoachieveconsiderablybetterpricingaswellas-deepeningtheemotionalbondnsumershavewith
16、thebrandThreats1.Altertheageof40,thetypicalconsumerisnotwillingtopaymorethan$35to$40perpairforathleticfootwear0.0730.212.Competitionisstrongamongathleticfootwearandapparelfromoffbrandcompanies0.0820.163.FluctuationofforeigncurrencyimpactsthestofimportinggoodstotheU.S.0.0620.124.Increaseinunemploymen
17、thasimpactedthehouseholdincomewhichmayresultinspendinglessonbrandname0.0930.275.Barriertoentryislow0.0620.126.1.evelofinventoryisincreasinginmanyretailstoresdueweakeconomy0.0820.16Total1.002.99PositioninqMapCustomer1.oyalty(HhNikeAdidasPnoe(low)PumaPriceHlg)Customer1.oyalty(1.OW)E.InternalAUditStren
18、gths1. Nikeisthedominantcompetitorforathleticfootwearpricedabove$60perpair,holdingbetterthana50percentmarketshareforathleticfootwearpriced$85perpairorhigher2. Nikecharacterizesitsorganizationasacollaborativematrixorganization3. TheJordanbrandhasa10.8percentshareoftheoverallU.S.shoemarket,whichmakesi
19、tthesecondbiggestbrandinthecountryandmorethantwicethesizeofAdidasshare4. ThreeoutofeveryfourpairsofbasketballshoessoldinthisutryareJordan,while86.5percentofallbasketballshoessoldover$100areJordan5. Nike,s2009revenuesincreased2.9percentto$19.1billion6. InsidetheUnitedStates,Nikehasthreesignificantdis
20、tributionandcustomerservicefacilities7. Nikeestimatesthattheysellproductstomorethan25,000retailaccountsintheUnitedStatesandmorethan27,000retailaccounts,includingNike-ownedstoresandamixofindependentdistributorsandlicenseesoutsidetheUnitedStates8. ThempanysInternetWebsite,allowscustomerstodesignandpur
21、chaseNikeproductsdirectlyfromthecompany9. Nikehasfivewhollyownedsubsidiaries:ColeHaan,Converse,HurleyInternational,NIKEGolf,andUmbro1.tdWeaknesses1. Nikes2009netincomedecreased21percentto$1.48billion2. AlmostallofNikesfootwearismanufacturedoutsidetheUnitedSlatesbyindependentntractors3. Infiscal2008,
22、contractmanufacturersinChina,Vietnam,Indonesia,andThailandmanufactured99percentofNikesfootwearworldwide4. BecauseNikecompetesprimarilyinathleticfootwear,apparelandrelatedsportingequipment,itssalesareheavilyconcentratedintheyouthandyoungadultmarket5. Accountspayablehasincreasedbyalmost$1.0billionin20
23、096. NegativepublicityandboycottingoftheNikeproductsduetooutsourcingjobsoverseasandtheuseofchildlaborinsuchfactoriesFinancialRatioAnalysis(December2009)GrowthRates%NikeIndustryS&P500Sales(Qtrvsyearagoqtr)-4.00-2.10-4.80NetIncome(YTDvsYTD)-1.50-2.00-6.00NetIncome(Qtrvsyearagoqtr)-4.00-1.6026.80Sales(
24、5-YearAnnualAvg.)9.3714.5312.99NetIncome(5-YearAnnualAvg.)9.4711.7812.69Dividends(5-YearAnnualAvg.)21.5114.7211.83PriceRatiosNikeIndustryS&P500CurrentP/ERatio22.025.726.7P/ERatio5-YearHigh23.50.916.6P/ERatio5-Year1.ow10.70.22.6:PriCe/SalesRatio1.752.102.25Price/BookValue3.493.963.48Price/CashFlowRat
25、io17.5017.7013.70ProfitMargins%NikeIndustryS&P500GrossMargin44.549.238.9Pre-TaxMargin10.314.410.3NetProfitMargin8.010.17.15YrGrossMargin(5-YearAvg.)44.551.738.65YrPreTaxMargin(5-YearAvg.)12.918.216.65YrNetProfitMargin(5-YearAvg.)9.012.111.5FinancialConditionNikeIndustryS&P500DebVEquityRatio0.060.061
26、.09CurrentRatio3.53.51.5QuickRatio2.72.61.3InterestCoverage223.8139.023.71.everageRatio1.41.43.4BOokVaIueZShare18.9415.2121.63AdaptedfromWwWrnQneyQentralEsngEAVQPJEPrice/SaIeSPriCetBOOkNetPrOfitMarain(%)05/0917.801.463.197.805/0816.401.854.2910.105/0716.101.774.059.105/0616.001.423.279.305/0518.001.
27、623.808.805/0418.401.573.917.705/0317.201.403.706.905/0221.301.483.736.805/0120.101.183.166.205/0023.001.333.696.4BookValue/ShareDebt,EquityReturnonEquity(%)ReturnonAssets(%)InterestCoverage05/09$17.910.0917.111.2NA05/08$15.930.0824.115.1NA05/07$14.000.0821.214.0NA05/06$12.280.1122.114.1NA05/05$10.8
28、10.1421.513.8NA05/04S9.090.1719.812.036.605/03$7.570.2118.510.926.805/02$7.210.2917.410.422.105/01$6.510.3716.910.115.705100$5.820.4618.59.920.4AdaptedfromWWWrnOneVCentraIESnCQEInternalFactorEvaluation(IFE)MatrixKeyInternalFactorsWeightRatingWeightedSreStrengths1.Nikeisthedominantmpetitorforathletic
29、footwearpricedaboveS60perpair,holdingbelterthana50percentmarketshareforathleticfootwearpriced$85perpairorhigher0.0840.322.Nikecharacterizesitsorganizationasallaboratvematrixorganization0.0230.063.TheJordanbrandhasa10.8percentshareoftheoverallU.S.shoemarket,whichmakesitthesecondbiggestbrandinthecount
30、ryandmorethantwicethesizeofAdidasshare0.0640.244.ThreeoutofeveryfourpairsofbasketballshoessoldinthiscountryareJordan,while86.5percentofallbasketballshoessoldover$100areJordan0.0840.325.Nikes2009revenuesincreased2.9percentto$19.1billion0.0940.366.InsidetheUnitedStates,Nikehasthreesignificantdistribut
31、ionandcustomerservicefacilitiesj530.157.Nikeestimatesthattheysellproductstomorethan25,000retailacuntsintheUnitedStatesandmorethan27,000retailaccounts,includingNike-ownedstoresandamixofindependentdistributorsandlicenseesoutsidetheUnitedStates0.0430.128.ThecompanysInternetWebsite,www.nikebiz.m.allowsc
32、ustomerstodesignandpurchaseNikeproductsdirectlyfromthecompany0.0740.289.Nikehasfivewhollyownedsubsidiaries:ColeHaan1Converse,HurleyInternational,NIKEGolf,andUmbro1.td0.0730.21Weaknesses1.Nikes2009netincomedecreased21percentto$1.48billion0.0720.142.AlmostallofNikesfootwearismanufacturedoutsidetheUnit
33、edStatesbyindependentntractors0.0810.083.Infiscal2008,contractmanufacturersinChina,Vietnam,Indonesia,andThailandmanufactured99percentofNikesfootwearworldwide0.0610.064.BecauseNikempotesprimarilyinathleticfoohvear.apparelandrelatedsportingequipment,itssalesareheavilyconcentratedintheyouthandyoungadul
34、tmarket.0.0810.085.Acuntspayablehasincreasedbyalmost$1.0billionin20090.0820.166.NegativepublicityandboyttigoftheNikeproductsduetooutsourcingjobsoverseasandtheuseofchildlaborinsuchfactories0.0710.07Total1.002.65F.SWoTStrateaieSStrengthsWeaknesses1. Nikeisthedominantcompetitorforathleticfootwearpriced
35、above$60perpair,holdingbetterthana50percentmarketshareforathleticfootwearpriced$85perpairorhigher2. Nikecharacterizesitsorganizationasacollaborativematrixorganization3. TheJordanbrandhasa10.8percentshareoftheoverallU.S.shoemarket,whichmakesitthesecondbiggestbrandintheuntryandmorethantwicethesizeofAd
36、idasshare4. ThreeoutofeveryfourpairsofbasketballshoessoldinthiscountryareJordan,while86.5percentofallbasketballshoessold1. Nikes2009netinmedecreased21percentto$1.48billion2. AlmostallofNikesfootwearismanufacturedoutsidetheUnitedStatesbyindependentcontractors3. Infiscal2008,contractmanufacturersinChi
37、na,Vietnam,Indonesia,andThailandmanufactured99percentofNikesfootwearworldwide4. BecauseNikecompetesprimarilyinathleticfootwear,apparelandrelatedsportingequipment,itssalesareheavilyconcentratedintheyouthandyoungadultmarket5. Accountspayablehasincreasedbyalmost$1.0billionin20096. Negativepublicityando
38、ver$100areJordan5.Nike,s2009revenuesincreased2.9percentto$19.1billion6. InsidetheUnitedStates,Nikehasthreesignificantdistributionandcustomerservicefacilities7. Nikeestimatesthattheysellproductstomorethan25,000retailaccountsintheUnitedStatesandmorethan27,000retailaccounts,includingNike-ownedstoresand
39、amixofindependentdistributorsandlicenseesoutsidetheUnitedStales8. ThecompanysInternetWebsite,.allowscustomerstodesignandpurchaseNikeproductsdirectlyfromthecompany9. Nikehasfivewhollyownedsubsidiaries:ColeHaan,Converse,HurleyInternational,NIKEGolf,andUmbro1.tdboycottingoftheNikeproductsduetooutsourci
40、ngjobsoverseasandtheuseofchildlaborinsuchfactoriesOpportunitiesS-OStrategiesW-OStrategies1. Youngerconsumersarelesspricesensitiveandgenerallyspendmoreoncasualandathleticfootwearthanolderconsumers2. Mostfootwearcompanieshaveoutsourcedtheirproductionabroadin1. Expandintointernationalmarketmorewherethe
41、economyisstronger(S1,S3,S4,S7,O1)2. IncreaseadvertisingandpromotionthroughsocialnetworkingsuchasTwitterandFacebook(S8,01,05,1. Developnewproductsforsmallkidsbasedoncartncharacters(W4,01,03)2. Sponsormoreathleticsprograms,mostlyforyounggeneration(W1,W4,W6,O1,O2,O3)07)ordertomaintainlowercostandR&Dexp
42、enses3. USfootwearimportstotaled2.36billionpairsin2007,orroughly7.9pairspercapitawhichiswasup0.4percentfrom20064. NorthAmericanFreeTradeAgreement(NAFTA)andtheWorldTradeOrganization(WTO),bothhelpedeliminatequotasandtariffbarriersforforeignfootwearmanufacturerstoshiptheirgoods5. TheInternetallowsfootw
43、earcompaniestopursueadirecttoconsumersaleschannel6. Salesofapparel,accessories,andfootwearontheInternethasbeengrowingatadoubledigitpace,considerablyfasterthanmoretraditionalsalesmodelssuchasretailstores7. Internetsalesofapparel,accessories,andfootwearcouldreach18percentofcategorysalesby20128. Compan
44、iesthataddedaWeb-basedsalesstrategyareabletocustomizefootwearandothermerchandisedirectlytothecustomersneedsandtaste,areenabletoachieveconsiderablybetterpricingaswellas,deepeninqtheemotionalbondconsumershavewiththebrandThreatsS-TStrategiesW-TStrategies1. Aftertheageof40,thetypicalconsumerisnotwilling
45、topaymorethanS35toS40perpairforathleticfootwear2. Competitionisstrongamongathleticfootwearandapparelfromoffbrandmpanies3. FluctuationofforeigncurrencyimpactsthecostofimportinggoodstotheU.S.4. Increaseinunemploymenthasimpactedthehouseholdincomewhichmayresultinspendinglessonbrandname5. Barriertoentryislow6. 1.evelofinventoryisincreasinginmanyretailstoresdueweakeconomy1. Developanewmoderatelypricedproductline(S1,S2,S3.S4,T2,T4,T6)2. Expanddistributionb
