Pearson BTEC Level 3 Unit 1 Exploring Business. This is a detailed document of the influence the Nike stakeholders have on the business. A distinction* coursework with all websites links included and no plagiarism. High quality and well detailed. Contains valid pictures to make work look interesti...
Nike: The influence of stakeholders on a business
Define a stakeholder
Is a person, group or organisation that has an interest or concern in business.
Internal stakeholder
Employees have different roles in a business such as customer’s services,
cashiers, organising shelves or any other work that links to technology or ideas. They
all are responsible for their own individual jobs.1 Nike has a huge variety of jobs; this suggests
that there will be more opportunities of finding jobs and they will all have different duties to
work with. Employees can help the business to become successful by working hard and trying
to complete all tasks to the highest quality. Due to their employee’s hard work and dedication
Nike business would rise in a positive aspect. However, the employees also have an interest in
getting something in return due to their hard work. They would want to receive job security,
promotions and higher wages; if they get something in return then they will continue working
hard which will help the business as more work will be done.
Employees can influence the business positively by providing good customer service, this would
make the customers happy and lead to a higher revenue, repeat purchases and high sales
volume and choose Nike again for their goods. The Nike employees such as designers have a
huge role in making their business successful2. They come up with new ideas that people are
looking forward to wearing. This would raise their revenue due to the higher sale and therefore
make a huge profit. Overall, Nike employees receive a good customer service rating suggesting
they are hard working. Furthermore Nike employees also leave good reviews of their jobs and
, the benefits they enabled.3 However, employees can also influence the business negatively. If
employees are dissatisfied with their wages, this would lead to lower performance or
productivity causing the business to run slow leading to lower sales meaning less revenue in the
business. This would decrease the profit that Nike makes and may lead to a loss in the business.
There would also be a negative gap in the work they produce which would unsatisfied their
consumers leading to less sales and decrease in profit. Furthermore, Nike employees can leave
a bad brand review which would damage the business’ image leading to less sales and resulting
in lower revenue and profit. If Nike is able to make enough profit then this will not allow them
to invest in new ideas leading to customers being unsatisfied and resulting in lower sales and
revenue leading the business to be unsuccessful.
Nike has a good relationship with their employees. They have different amounts of wages for
different jobs that the employees produce due to their level of work and dedication. Nike also
treats their employees with respect and their safety matters to them. Nike won’t tolerate
anyone misbehaving with their employees and therefore they would take action on the people
who misbehaved with their employees. This would make their employees feel safe and would
interest them in making Nike a successful business. Also Nike offer their employees with
benefits such as free gym facilities, this would make their employees happy and improve their
phycology welling which would benefit them business as their employees will always stay
motivated and be positive. Nike should choose their employees wisely depending on their
strengths and good services. Moreover, Nike can improve their relationship with their
employees by rewarding them with discounts and offers. Nike can also increase their
employee’s salary depending on how much profit Nike makes and how well the employee
contributed in the business activities, this would lead the employees to be happy resulting in
higher productivity leading their employees to work even harder and increase the revenue for
business due to their high sales. But this depends on, only if Nike is able to make a good
amount of profit; then only they will be able to raise their employees’ salary and promote
discounts.
Nike communicates with their employees through emails, giving them relevant information
about the business. This method is beneficial as it is quick and easy to send, making their jobs
easier and quicker. Nike can contact their employees about any changes with price of the
products or any other inquiries such as sales and order history. However, sending emails also
has a disadvantage as they might not arrive on time due to bad networks or they may not be
noticed in the inbox. This would delay Nike’s work and interrupt their revenue. Overall this is a
good method; as it is easy to use. However, it depends on who’s using this method; if the
employees know how to use electronics or emails. Nike also contacts their employees through
phone calls. This is a good method as it is noticeable, easy and they would be able to clear out
3 https://www.indeed.co.uk/cmp/Nike/reviews
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