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Category: Business and Industry

Date Submitted: 09/22/2013 01:05 PM

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Nike is one the most well-known corporations in the world. It is a chief supplier of a sportswear and sport equipment. It was founded in 1964 by Bill Bowerman and Phil Knight as Blue Ribbon Sports, and officially became Nike in 1978. The company took its name from the Greek goddess of victory, and this name really reflects the success of the company. Now it is a leading supplier of spot shoes and equipment for association football, basketball, tennis, golf, and outdoor activities for everybody. Nike recently began to work together with Apple Inc. to produce new sport equipment for runners. Today company has signed contracts with nearly a thousand shops outside the United States and it also has its departments in more than 45 countries all over the world. It is classified as one of the top three of all the most outstanding international companies that supports the protection of climate and environment. Another feature that made company famous all over the world is that it involves outstanding sportsmen and stars to promote their products. Nike twice won the Emmy Award twice in the nomination for the best commercial.

But despite all its achievements, Nike has also been criticized by the society in different times. The most well-known scandal took place in the1987 when the company used the Beatles song in the new commercial without permission the recording company. They afterwards apologized and paid the company compensation and used this song on the commercial for a year. Nike was also strongly criticized for the policy the company implemented on its factories in Asia, as there workers were violated, earned minimum wage and had irregular working hours. In 1990s this was followed by the fact that the company used child labor on its manufactories in the Far East region. Later BBC channel made up a film about girls working on Nike factory the whole week, and till now company has such policies on its factories in the Third World countries.

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