Pestle and Swot Analysis of Nike 2020-2021
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Nike (NKE) is the largest seller of athletic footwear and apparel in the world, ahead of Adidas, Puma and Under Armour. Its business is focused on product design and development, marketing and sales. Key product categories are running, basketball, the Jordan Brand, soccer, training and sportswear. Nike has more than 1,150 retail stores in the United States and internationally, and employs approximately 76,700 workers worldwide. In 2021, Nike's global revenue amounted to about $44.54billion U.S. dollars., up from $37.4 billion in 2020 (Statista 2020c).
In the following strategic analysis report, the author undertook a pestle analysis and Swot analysis of Nike, assessing how numerous external macro factors such as a ban of China cotton products, a post covid shrinking economy globally, low consumer confidence, advancements in wearable technology and changing consumer habits have impacted Nike. PESTLE is used to identify key drivers of change and how they have affected Nike and competitors. This is followed by a Nike SWOT analysis assessing how Nike can use its internal strengths to take advantage of external opportunities, while mitigating internal weaknesses and arising threats.
HARVARD
Magezi, K. Prudence. 2021. Pestle and Swot Analysis of Nike 2020-2021" 123 Writing [Online] at https://www.123writing.com/sample/pestle-and-swot-analysis-of-nike-2020-2021
Magezi, K. Prudence. 2021. Pestle and Swot Analysis of Nike 2020-2021" 123 Writing [Online] at https://www.123writing.com/sample/pestle-and-swot-analysis-of-nike-2020-2021
APA
Magezi, K. P. (2022). Pestle and Swot Analysis of Nike 2020-2021. 123 Writing. Retrieved 14 March 2022, from https://www.123writing.com/sample/pestle-and-swot-analysis-of-nike-2020-2021.
nike Pestle & Swot 2021 Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the broad macro-environment of Nike and the apparel & footwear industry in terms of political, economic, social, technological, environmental and legal factors (PESTEL/PEST/STEEPLE).
- Use our swot analysis example to gain an overall understanding of Nike's strengths and weaknesses and strategic options arising from the opportunities and threats that have been identified from the Pestle analysis example on it's business environment.
- To apply strategy business models and frameworks such as Pestle/Pest/Steeple, Swot etc to real company cases.
1.0 INTRODUCTION
Nike (NKE) is the largest seller of athletic footwear and apparel in the world, ahead of Adidas, Puma and Under Armour. Its business is focused on product design and development, marketing and sales. Key product categories are running, basketball, the Jordan Brand, soccer, training and sportswear. Nike has more than 1,150 retail stores in the United States and internationally, and employs approximately 76,700 workers worldwide. In 2021, Nike's global revenue amounted to about $44.54billion U.S. dollars., up from $37.4 billion in 2020 (Statista 2020c). This makes Nike the biggest retailer of athletic apparel and footwear in the world. As of 2021, its global market share of athletic footwear stood at 27.4%.
In the following sections, the author undertakes a pestle analysis and Swot analysis of Nike starting with a comprehensive analysis of numerous external macro factors that are driving demand and changes in consumption behaviour from consumers including the impact of covid-19 on not just Nike but the entire industry.
As noted by Johnson et al (2017), businesses do not operate in a vacuum, they operate in an environment. The macro environment is the most general layer of the business environment and is made up of extensive environmental factors that impact all firms irrespective of their size or industry. PESTLE analysis is a strategic tool utilised by organizations to scan the environment they operate in, it is considered the starting point when analysing macro-level influences (Grant 2016; Johnson et al 2017).
As businesses continue to operate in a volatile environment catalysed by globalization, PESTLE analysis has become an essential tool as it helps firms to organize the complexity of trends in demographics, technology, and globalization, among other. According to Buchanan and Huczynski (2019), it is essential for organizations to keep up with their ever-changing environment, those that fail to end up running into difficulties.
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