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The nature and importance of business objectives for the shoe industry, specifically for the brand of Nike contains is similar to that of most other clothing and durable goods wholesale and retail markets. The primary objectives of Nike in its chosen market is, of course, profitability. While Nike does have multiple secondary objectives, such as being known as a forward-thinking and accommodating employer, contributing to the research of footwear, and developing products that are innovative and first to market, overall, the company is a profit organization driven by financial success.
Potential changes in the level of competition and macroeconomic performance might affect Nike in several ways. First, if the level of competition increases its research and development and knocks Nike out of the frontrunner spot in this capacity, Nike’s reputational loss could lead to a decline in sales. Further, if the competition begins using outsourced, foreign labor like Nike does, the price point for competitors’ products could decrease, again causing a decline in sales for Nike. Alternatively, the American market takes another downturn like the one experienced in 2008-2009, Nike could see an impact from that as well, and they could also see an impact from Japan’s recent and ongoing economic downturn.
Regarding the macroeconomic performance of Nike, it has typically benefited from the United States overall general concept of growth markets (PESTLE). Because of the nation’s relatively low interest rates and favorable currency exchange rates, Nike has been able to remain competitive in sales of its products for nearly half a century (Lopez et al.). Because Nike is a consumer-driven company and because it produces products (shoes and active wear) that remain mainstays in America’s fitness-crazed society, its macroeconomic stability remains strong. While at times it has been criticized for corporate policy regarding outsourcing labor, Nike, in general, remains a global leader in the fitness she and clothing field.