Nike and its Approach to Corporate Responsibility Essay - 1

Nike and its Approach to Corporate Responsibility - Essay Example The organization established new approaches to the corporate responsibility in order to influence environmental and social change. The organization is made up of several small business units, regions, functions, centers. It is true that global business scenario is changing constantly due to frequent change in external environmental factors and market demand. Corporate responsibility helps an organization to adopt health business and corporate model that ensures potential competitive advantages for the company. The essay will discuss a conceptual framework that will explain the approach of Nike, Inc. to corporate responsibility. Â  Nike is one of the popular apparel and footwear manufacturing and distributing organization around the globe. In the year 2004, the organization began a large scale and intensive review of its developed and implemented strategies. The management of the organization tries to take unique and new approaches to corporate responsibility in order to ensure future business growth. The organization understood that demand for sustainable business practices can help an organization to run a smooth business across the world (Rendtorff, 2009, p.50). They tried to understand future social and environmental trends before expanding their business in several emerging global areas. The social and environmental trend cannot be similar in all the countries. Therefore, they tried to implement an effective review process to achieve potential competitive business opportunity. Â  In the year 2004, Nike, Inc understood that no single corporation can attain systematic change alone. Collaboration, partnership, and open source approaches can lead to providing an organization sustainable market-based solutions to the challenges that can easily generate system change.