Description of NikeNike is a company engaged worldwide. The company headquarters near Beaverton. Being the world’s leading supplier of athletic materials, Nike attains revenue in excess of around US$24.1 billion in its fiscal year 2012. Its employees this year are more than 44 000 worldwide. Among the sports business, Nike is a very valued organization because its value is estimated at $10.7 Billion (Aaron 2008). According to David (1991), the company was started in 1964 January under the name ‘Blue Ribbon Sports. ’ It became Nike officially in 1978 and the name means the Greek goddess of victory.
Nike Company has developed marketing strategies and selling philosophies that have made it the most distinguishable and demanded brand and logo tandems ever since it entered the world market. David (1991) illustrates that Nike offers a range of products and services viable to all customers with regard to are and tastes. Moreover, they are offered at a reasonable price and thus are affordable. Storbacka et al. (1994) notes that due to the ever-changing character of demography, performance, competition as well as dynamic customer needs, Nike Company has taken into account the need for innovation to attain new products. Nike is the largest industry that deals in shoes and thus outshines its competitors.
It gains much profit through sales made in more than 110 nations that exist in the six continents of the world. A consumer knows the company as an overriding influence in the sports arena and thus remains their top choice in sports apparels. Total Quality ManagementAccording to Waldman (1995), the concept of total quality management embodies the effective and professional approaches used by an organisation to create a social revolution in the workplace.
It is a management system that is embedded in the organization’s strategy. It is very significant to the organisation’s performance as it leads to progressive improvement of products and services. These result into customer satisfaction and strong customer loyalty. The company may only compete with similar companies in the industry that embraces total quality management. The management approach is used by organizations to control the production chain and also ensures that tactical operational decisions are made. The total quality strategy is not a one person deal.
It is organised by senior managers after which it is dedicated to the supervisors and employees who implement the designed policies. This strategy is a process which aims at improving business production continually by getting everything right the first instance. Basically, the business focuses on the customer (Spencer, 1994). How Nike Implements Total Quality ManagementThe company’s Board of Directors has established and implemented effectively diversity related objectives and strategies towards achieving the set goals. The assessment of the objectives and reviews are normally carried out once a year where recommendations are placed appropriately in regards to the reports that are brought up on the same issue.
The progress against targets is also monitored which includes the company’s annual reports on all realms of the firm’s operations (Waldman, 1995). Nike has been successful because of support from numerous well-built partnerships which it has formed around the world due to its high standards, integrity, values and performance. In the 1980’s, the company’s market base comprised of young people of between the ages of 15 to 35. Currently, the company’s customer base entails people of all ages and gender.
This is because, the new market strategies fit the needs of all human beings and hence the high command of the company’s products in the sports business market (David, 1991).