CSR is an abbreviation used for Corporate Social Responsibility. It is a broad business concept that aims to make positive changes in the environment and society. It is important for business firms to take part in helping the country to develop. CSR activities are not only helpful to the country, but it also helps businesses to grow. Thus, Nike is among the most popular companies in the world that are also trying to grow its business and the world through its CSR activities.
Nike is the most popular American company that is occupied in business activities like designing, marketing, and developing athletic footwear. It was founded in 1964 by Bill Bowerman and Phil Knight. The founder of this footwear company (Bill Bowerman) was a field coach at the University of Oregon, and Phil Knight was his student. Together they both came up with the idea to form a footwear brand. Earlier in the initial years 1964 to 1978, Nike was recognised as the Blue Ribbon Sports. This brand was originally formed to sell running shoes in Japan. In 1966, Bill Bowerman and Phil Knight opened their first retail store in California. By the start of the 21st century, the retail stores of Nike were opened in more than 170 countries, and its logo was named "swoosh."
The Popular Nike CSR Issues
Nike thinks that sports can make the world a better place. Therefore, it promotes sports throughout the world as a part of its CSR activity. They promote their CSR activities in three key areas, i.e., diversity and inclusion, community investment, and environmental sustainability. Before the 21st century, Nike faced several problems, and those issues were coming in between the growth of Nike. Some popular issues that were coming in between the development of Nike are-
- Low employment wages
- Child Labor
- Poor Working Conditions
- Expensive Endorsements
- Expensive Cost of the Products Sell By Nike
- Poor Customer Support
To solve these problems, Nike decided to make its corporate social responsibility report public in the year 2005.
CSR Activities Conducted By Nike
From 1990 people were protesting outside the Nikestore, and people were boycotting Nike as many children were working for this footwear company. So in 1998, Phil Knight (Co-Founder of Nike) announced that the company will make changes and will avoid employing children and child labor. In 2005, Nike was the first company in the footwear industry to share its CSR (Corporate Social Responsibility) report in public. Phil Knight said in the Nike CSR report that Nike will improve its policies and the pay scales of its employees. He said that now the company will make new policies to reduce child labor in the company. Nike was also trying to promote sports as a part of its CSR activity.
To make its CSR activity plan successful, Nike shared and created lots of inspirational videos for youngsters and promoted sports among them. After this, in 2005, the company again started doing well in terms of profit and customer satisfaction. The 2005 Nike CSR example is perfect for explaining that CSR activities help companies to enhance their brand image. After this, Nike worked a lot to make positive changes in the world and helped a lot to develop. Between 2015 to 2020, Nike inverted more than $ 100 million for the girl effect program and helped nearly about 10 million girls in 20 countries in Asian and African regions. Again in 2020, Nike has spent more than $ 89 million to help 17 million kids to play their favorite sports to do regular exercise. This activity of Nike helped children to remain fit at the time of the Covid-19 pandemic.
In 2021 Nike came up with a five-year plan to create diversity in their organization. John Donahoe, current CEO and the president of Nike, said they will try to make 50% representation of women and 35% representation of racial and ethnic minorities in their organizations by 2025. As a part of its CSR activity, Nike also tried to support the world in the coronavirus pandemic by donating $ 30 million in food and medical care and $ 5,7 million for the footwears of health care professionals and the front-line workers. At the time of the pandemic, Nike helped its employees by paying by providing full-time paid leaves, providing them with the medical supplies to live safe during the pandemic. Nike also collected funds from its employees to donate to the Covid-19 relief funds.
Conclusion
The Shoe industry is a huge industry, and Nike is one of the most popular companies in this industry. It is a popular shoe brand that is also known as the favorite shoe brand of youngsters worldwide. Nike says that ups-and down is part of business, but we will always try to provide the best services to our customers.
Corporate Social Responsibility is an important area of study that students study while pursuing a degree in business management. Business management students are assigned various types of complex and lengthy CSR assignments. Usually, due to less understanding and insufficient time, it becomes very difficult for students to craft their assignments without any assistance. Therefore, they ask experts to assist them to “do my assignment” for me. We are a team of experienced experts that provide the best assignment help in Australia to university students. We also provide essay writing services to students and make it possible for them to pass their courses with the best academic grades.
References
Davies, S. (2014, October 27). Corporate social responsibility (CSR) - more than the financial bottom line. Corporate Governance - Australia. https://www.mondaq.com/australia/corporate-governance/349792/corporate-social-responsibility-csr--more-than-the-financial-bottom-
https://www.ukessays.com/essays/business-strategy/nikes-csr-policy-ethical-issues-and-dilemmas.ph
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