Functions Of Management - Nike
- 1. NIKE
- 2. Nike was founded on January 25, 1964, as Blue Ribbon Sports, by Bill Bowerman and Phil Knight, and officially became Nike, Inc. on May 30, 1971. Nike, Inc. is an American multinational corporation . Nike is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area. It is the world's largest supplier of athletic shoes and apparel.
- 3. Planning is the hallmark of intelligent behavior. An organization, in order to reach its goals, must first set them and set them right. Nike sets up a periodically meeting in every half yearly. The Chairman or Managing Director will present his vision for the upcoming year, such as:- Cutting down costs of distribution by 5% . This shall be accepted by all the departmental heads and managers.
- 4. The manager has been advised to arrange for all the necessary resources i.e. raw materials, monetary resources, human resources as well as the managerial expertise to help achieve the goals set under planning process. Nike will then source necessary raw materials, buy new delivery trucks or outsource delivery function altogether to a transport corporation in order to cut down distribution costs.
- 5. This principle signifies the importance of human resource for any organization. It outlines the procedures such as recruitment, training and retaining the right kind of employees for the specific jobs. It also involves preparing them for their roles in the organization. Nike will recruit new designers to introduce in the markets or it will have to retrench its delivery staff if it’s zeroing in on the outsourcing of distribution mechanism.
- 6. Here, after the plans have been laid out; necessary materials been sorted and employees hired to perform the jobs; the manager has to direct their efforts towards the ultimate goals of the organization by dividing those ultimate strategic goals into small, workable, time-bound targets. The directors of Nike is to perform the role of mentor and motivator as in telling them how to do their jobs in the best possible manner and encouraging them to perform better by overcoming the challenges.
- 7. Here, the Chief Manager would have to take steps to coordinate the efforts by various departments so as to ensure that they are moving in tandem with each other. A quarterly meeting of production, sales and design department would achieve the objective of coordination for their efforts.
- 8. Reporting refers to keeping the channels of communication open both the ways throughout the organization. This helps in reporting the progress of the work to the superior authorities and lets them make modifications to the plan if required. There will be weekly or bi-weekly meetings held in each of the departments where the progress of the period will be reported to and discussed with the departmental head.
- 9. Finance is the lifeblood of any organization. Resources – man, money, material and time – should be allocated to each and every work center or project in advance and the employees responsible should be held accountable for their stipulated usage. In Nike there is separate department named as ‘Budgeting and Controlling’ that will frame the budgets and allocations for all the departments after the departmental heads have submitted their goals for the year and requirements in terms of money, human resource, materials, and technology.