Essay Nike - 591 Words

Nike is a huge supplier if athletic shoes for the world these days. Philip H. Knight, the founder of this corporation came up with an idea of an athletic shoe at the track field of the University of Oregon. nbsp;nbsp;nbsp;nbsp;nbsp;Now it has become a leader in the global economy. Nike has helped the economy by employing more than 500,000 people, worldwide. The company has contributed in finding a positive policy for minimum wage. Minimum wage laws usually don’t help who they’re originally set out to. Now with Nikes’ minimum age requirements it helps those it was naturally set up for. The minimum age requirement also prevents teenagers from dropping out and taking on full time jobs at Nike. nbsp;nbsp;nbsp;nbsp;nbsp;Philip H.†¦show more content†¦The shoe companies are substitutes for each other which makes for an elastic market. Consumer’s who aren’t set on one name can easily pick between all the brands to find the best deal. With Nike and Adidas in the lead it is apparent that the name makes a different. Nike doesn’t spare in the advertising area in 1997 they spent $978.2 million. nbsp;nbsp;nbsp;nbsp;nbsp;The University of Oregon is threatening to join the Workers Rights Consortium. Knight, a believer in the labors Fair Labor Associations against the University joining the WRC and plans to contribute nothing if they go ahead with it. Both parties need to weigh the opportunity costs of their decisions. The University of Oregon is looking at a 50 million dollar opportunity cost if they join the WRC. This is a huge extranality to the students of Oregon. To give up on receiving that kind of donation really hurts the students. If the University of Oregon and some other schools decide to join the WRC the impact could be one of hurting the economy. There will be less need for employees because the donations of athletic wear will decrease significantly. The equilibrium will change resulting in a revenue loss to the corporation and to the employees that will no longer be needed. nbsp;nbsp;nbsp;nbsp;nbsp;Nike is trying to deal with this through private solutions. Knight authorized the PricewaterhouseCoopers factory monitoring group to give the results on their visits, because he says they haveShow MoreRelatedNike And Nike Vs. Nike1268 Words   |  6 PagesAdidas and Nike are two major athletic clothing companies on the market. The two brands are both commonly worn by athletes. Nike has endorsed some of the top athletes in the world. Take Michael Jordan for example, Nike created an entire brand off his name, â€Å"Air Jordan’s.† Adidas also has multiple athletes that advertise for them including soccer player David Beckham. The two companies have been in constant competition with their footwear and apparel for several years. 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