Question : Please answer the discussion questions below after reading the case. : 3661
Please answer the discussion questions below after reading the case. Please provide quality work and address each question correctly, thank you.
Nike's Core Competency: The Risky Business of Fairy Tales DURING THE LAST decade, Nike's annual revenues doubled and by 2015 was over $30 billion. Having a globally recognized brand, Nike is the undisputed leader in the athletic shoe and apparel industry. The number two adidas has some $19 billion in sales, while recent entrant Under Armour reports revenues of $3 billion. Nike is tremendously successful holding close to a 60 percent market share in running and nearly a 90 percent market share in basketball shoes and apparel Nike Co-founders: Bill Bowerman and Phil Knight The Beaverton, Oregon, company has come a long way from its humble beginnings. It was founded by University of Oregon track and field coach Bill Bowerman and middle-distance runner Phil Knight in 1964 and called Blue Ribbon Sports. In 1971, the company was renamed Nike (Greek mythology's goddess of victory) and the now iconic swoosh" was designed by a Portland State University student Coach Bowerman was a true innovator because he constantly sought ways to give his athletes a competitive edge. He experimented with many factors affecting running performance, from different track surfaces to rehydration drinks. Bowerman's biggest focus, however, was on providing a better running shoe for his athletes. While sitting at the breakfast table one Sunday morning and absentmindedly looking at his waffle iron Bowerman had an epiphany. He poured hot, liquid urethane into the waffle iron ruining it in the process but coming up with the now famous waffle-type sole that not only provided better traction but was also lighter than traditional running shoes After completing his undergraduate degree at the University of Oregon and serving in the U.S. Army, Phil Knight entered the MBA program at Stanford. One entrepreneurship class required him to come up with a business idea. He wrote a term paper on how to disrupt the leading athletic shoemaker, adidas. The research question he came up with was Can Japanese sports shoes do to German sports shoes what Japanese cameras have done to German cameras? At that time, adidas athletic shoes were the gold standard. They were also expensive and hard to find in the United States. After several failed attempts to interest Japanese sneaker makers, Knight struck a distribution agreement with Tiger Shoes After his first shipment arrived in the United States, Phil Knight sent some of the running shoes to his former coach Bill Bowerman, hoping to make a sale. To his surprise, Bowerman replied that he was interested in becoming a business partner and contributing his innovative ideas on how to improve running shoes, including the waffle design. With an investment of $500 each and a handshake, the venture commenced