Sustainability Monitoring System - Nike

Festus M.

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Sustainability Monitoring System - Nike

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Themes

Nike, sustainability monitoring system, sustainability, sociocultural area, economic-financial area, bio-environmental area, sport, Adidas

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Abstract

Nike, Inc. is an American corporation with operations in "Latin America, Greater China, Europe, the Middle East, and Africa, and North America." Its headquarters are in Beaverton, Oregon, United States. It is in the Sports Apparel industry and is one of the most well-known brands of athletic footwear and apparel, as well as a leading producer of sports gear. With more than 73,000 workers and a brand value of $165.23 billion in FY23, the firm is the most valuable sports brand globally (NKE, 2023). Originally known as Blue Ribbon Sports, Nike was founded in 1964. Nike, Inc. became the official name of the company in 1971. The name "Nike" is derived from the Greek goddess of victory. Globally, the company designs, develops, manufactures, and sells apparel, footwear, accessories, equipment, and services. The firm has a wholly owned subsidiary that designs, manufactures, and markets casual footwear, apparel, and accessories. Nike generated $51.22 billion in revenue in FY23 (Tighe, 2023a).

Introduction
Implementation Plan
Sustainability in the Industry
1. Sociocultural Area
2. Economic-Financial Area
3. Bio-Environmental Area
Sustainability in the Enterprise
1. Best Areas for Nike
2. Opportunities for Improvement
Specific Sustainability Area
Recommendations for the Enterprise's Sustainability
Indicators for Monitoring
Conclusion

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[...] Also, this indicator has difficulties in monitoring subcontractors. This is because many subcontractors in the Sports Apparel industry are in countries with differing regulatory oversight and enforcement mechanisms. This makes it challenging for firms in this industry to ensure consistent compliance throughout their supply chain. Other sustainability indicators to monitor include living wage compliance, working hours compliance, and occupational health and safety. The "living wage compliance" assesses whether workers are paid wages that meet their basic needs. Meeting this indicator translates into improved workers' livelihoods, retention, and increased worker satisfaction. [...]

[...] Circular economy - challenges for the textile and clothing industry. Autex Research Journal, 337-347. https://doi.org/10.1515/aut-2018-0023 Lemon, J. (2018). Nike factory workers still work long days for low wages. Newsweek. https://www.newsweek.com/nike-factory-workers-still-work-long-days-low-wages-asia-1110129 Maiti, R. (2024). Fast fashion: Its detrimental effect on the environment. Earth.Org. https://earth.org/fast-fashions-detrimental-effect-on-the-environment/ Nike. (2023). About.nike.com. https://about.nike.com/en/newsroom/reports/fy22-nike-inc-impact-report NKE. (2023). [...]

[...] In addition, Nike works to improve working conditions across its supply chain and reduce its environmental footprint. This promotes the brand's goodwill, draws in socially concerned customers, and sustains its long-term commercial success. Nike, nonetheless, encounters rivalry from Adidas and Reebok. As a strong competitor to Nike, Adidas ranks as the world's second-largest shoe producer (Hughes, 2023). In 2023, Adidas generated $23.24B in revenue (See Appendix and had a brand valuation of 36.3B Euros (Adidas, 2023). Another competitor of Nike Inc. [...]

[...] Sustainability Monitoring System - Nike University of South Florida 1.1 Introduction Nike, Inc. is an American corporation with operations in "Latin America, Greater China, Europe, the Middle East, and Africa, and North America." Its headquarters are in Beaverton, Oregon, United States. It is in the Sports Apparel industry and is one of the most well-known brands of athletic footwear and apparel, as well as a leading producer of sports gear. With more than 73,000 workers and a brand value of $165.23 billion in FY23, the firm is the most valuable sports brand globally (NKE, 2023). [...]

[...] Thus, granting WRC access to Nike means fair labour practices. The firm should also collaborate with the WRC to gain insights into areas needing improvement and best practices for ensuring fair and safe working environments. Second, Nike should implement living wage policies. These ensure that workers receive the minimum income necessary to meet their basic needs without being forced to work excessive hours or rely on additional sources of income (Gilbert & Huber, 2022). Nike needs to adopt these policies due to its issues of low wages in its supply chains. [...]

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