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Finance and Accounting: Nike Inc. - Essay Example
This paper examines such importance with close reference to Nike Inc. Corporation, which is a public listed company. This paper reviews the financial status of Nike Inc. with special emphasis on its financial information, financing and the financial indicators in the recent past…
Financial information is an important component for any organization in the contemporary business environment. Accounting and budgeting information are important aspects of finance and accounting that rely on accuracy, reliability and ease of access for the strategic advantage of any firm.
Initially setting up shop in the name of Blue Ribbon Sports in 1962, the Oregon based company has become to be known as Nike Inc. as from 1972. The company has grown significantly and has several subsidiaries including NIKE Golf, Cole Haan and Harley international among other business enterprises (Nike Inc., 2012). This has seen the company grow to a global leader in the sporting goods industry. Besides, it is recognized as the global leader in design, marketing and distribution of athletic boots, clothing and accessories for varied sports and fitness needs.
The company’s main objective is to design, develop and market the sports related merchandise around the globe. The company serves as wide market segment with its products made for different social groups like women, men and children. To further illustrate this diversity, it is indicated that the company has well over 300 shoe models designed in 900 different styles to suit a further 25 different sporting activities (Nike Inc., 2012). To help in its expansion and market penetration, the company has collaborated with many firms internationally. This has helped the company to explore markets that do not fall in its core operational competencies. The company’s main competitors are Adidas and old navy among other industry giants. ...