Managing Family Business: Nike Family Business

About the Company

The Nike company started in 1964 the founder of the nike company is Phill Knight the company’s head quarters in US its an multinational company corporation it producing footwear,a apparel, equipment, accessories and service etc.

About the Family Members

Phill Knight (founder) has two sons, one daughter. First son:Matthew (died in scuba diving), second son: Travis (CEO of Naik animation), third daughter: Crishtina (doen’t have intrest in doing nike’s business)

The Role of Money

The revenue of of company is 31.9 billion and the market capital is $100 billion and the Nike have capital realative to debt debt-to-debt capital ratio 0.14 and $1billion bond insurance and based on this they made profit

Impact in Death of Matthew

After the death of Matthew Phill Knight had deep pressure in two years from the business is not affect any where because Travis Knight take over all responsibility of his brother so the impact has not affect the business.

The Role of Communication and Information

The communication of nike helps to managers to form a strong employee teams.The role of the communication is for coordinating and supporting related to ethics and also it’s help to developing communication strategy messaging other employees and gives executive leadership support to managers:

1. Helped develop highly innovative and targeted communications
2. It helps to communicate Nike ethics policies for all employees.
3. Helps to employees strong messaging development in company
4. Helps to avoid conflicts among employees.

Work Ethic of Nike

The standard of nike always being honest, loyalty, trustworthiness,fairness. Any fraud and thest made by any employees and supplier they stictly prohibited by the company. They doesn’t accept employees who make bribes other improper payment and illigal payments from customer. They make honesty and fairful decision based on which is best Nike company.

Expect the government permitted the company doesn’tnot pay any money for politicians. Solving Problems Problem of a company: high levels competition. Solution: for reducing this problem the Nike family decide solve the problem by identifies customers needs and wants: they bring innovative ideas to reach customer and advertising through the word of mouth and increase new features in products etc; estabilish communication with and to the customers: from this they made research through customers to identify their needs and they take complaints from people to identify in which part nike has to increase their skills from this research they can fulfils their customers needs and they can make suitable segments so these are the solution they followed while thy facing problems in their business. Peak Experience and Notable Success in Nike The notable success of the Nike is marketing they get more success because they invest more money and work hard in marketing their products.

• Nike spent $3.3billion and they create demand creation in customers
• Nike promotes their products with having celebrities professional and college sports man this was attracted by more and more youngster after that they get more customers to their sports products and produce more on sports like golf, basketball, hockey, soccer etc
• Nike spends around $100 per second on advertising.
• They achieved $ 3.96 billion in sales in the last year no has not spend this much money for advertising but Nike spend and get success from this.

Conclusion

These are the things the Nike done their family business not all family members done their work even though it’s runs as a successful company. These are the basic analysis of nike family business