Emerging Enterpreneurship In Creativity And Innovation- A Case Study

Introduction Nike is regarded as the worlds largest fitness and sports brand in the world. The key catalyst for setting this brand, Nike apart from the whole industry is innovation and creativity by which they anticipate the needs of the customers. They contribute a lot in the field of research and development to dwell deeper into the concepts of product development and to decide what and what does not make the final cut when the execution and practice comes for the sake of innovation. They have a deep knowledge about the product and ensure correct positioning strategies. Nike therefore aims to bring about a high level of inspiration and innovation for every athlete in the world and moreover, it considers everyone to be an athlete in this world. This is the mission statement for Nike brand where entrepreneurship is driven and fueled by the means of innovation and creativity. The mission of corporate social responsibility is to foster means and ways for achieving a high level of sustainable growth to enhance the brand value of the company. Innovation- The core of Nike The focus of Nike is to periodically and timely seek ways and methodologies for innovation, development and design of the creative products that are launched day and night. It is an overriding feeling of desire and inherent streak to develop and design products that pave the path for a true innovative and creative performance where technology benefits and aids the products that contribute in developing the athletic performance of the aspirants. There are various examples of innovative products being launched by Nike, one being Nike Free which is a storehouse of innovation giving a barefoot experience along with foot strengthening, achievement of greater flexibility, and providing a range of motion leading to better performance as the athlete becomes less prone to injuries. Nike Free is the at least innovation from the side of Nike scientists and designers (Ramaswamy, 2007). Nike was rewarded as the 2013s most innovative company and yes, it well suits the title it achieved. Lessons of Innovation The five lessons by Nike given on the basis of design and innovation helps the company to find and scoop out new and creative ways to succeed before letting the old ways frail and fail. For every designer and innovator in Nike it is important to pay heed to some of the unique relationships. It is considered that the company should keep on learning by doing. Before becoming the designers, the team of Nike is aimed to be makers and modders. The makers of the company used to modify their shoes and make them fit for their running purposes before joining the company. One of them ripped the outer sole and made the insole more comfortable with an aim to deliver utmost performance. Another designer, at the age of twelve, came up with a concept similar to the line of Nikes Air line shoes which went iconic (Murphy, 2001) in the industry because of its fame and comfort. Another goal to achieve a high level of innovation to steer the growth of the company is to stay balanced to open up the hemispheres of the brain and let some air come in to stimulate the nerves and make the designers come up with something interesting and playful. There are sections and time devoted for business brainstorming and some sections given for design and doodling. There must be an eye of equivalent equilibrium over the company and the developments. The company design with a specific direction and uses sports metaphors to popularize the achievements of the organization. Nike believe that it is really important to open many of the new ways for inspiration and innovation so as to abandon the success stories of the past and embrace the realm of what holds in the future. The whole purpose and sole aim of design in Nike is to allow the designers to recreate themselves and to allow the company to find out some new ways for success. Flyknit technology if Nike was a product of innovation which allows fine tuning of engineered shoes (Stonehouse, 2008) for higher performance. This technology also helped a huge waste cutting and helped the company save a lot. Flyknit was the future of the company which was driven by innovation. The main guiding force of innovation as described in the five lessons was to stay focused blessed with an essence of supreme clarity regarding its objectives and missions. LAUNCH is a program which was a strategic collaboration of NASA, US State Department, Nike, and US Agency for International Development to identify, analyze, support and foster visionaries and innovators who are providing the world with breakthrough ideas, programs and technologies (DeLong, 2009) that have a potential to bring about something good in the society and to change the world for a better place. SWOT Analysis According to the SWOT analysis of the company in regard with the entrepreneurial process of fostering creativity and systematic innovation, Nike have plethora of variable and factors to ponder upon during the analysis. According to the strengths of the company to drive innovation at every level of growth are the core values that are highlighted in the creative culture of the company fostering ways for innovation. The leaders, designers, innovators of the company understand that innovation is an important ingredient in their products launched every time and it is the only means by which an emerging entrepreneurial revolution can be created and borne in the world. Research and Development department of Nike is links new discoveries with superior performances (Bond, 1996). The weakness with Nike in terms of use and sustainability of innovation lies in the type and structure of the company it is. Being a leading sports brand, the products and services though are limited and therefore, for innovating and spreading the dimensions into new arenas to anticipate reaching up till horizons would be a difficult task to handle requiring a lot of expertise and initial capital. There are plethora of opportunities to grab and exploit in the business domain with Nike expanding its reach to electronics, sensor-driven gadgets for running, weightless shoes, style + comfort shoes for women, and various other products. There can be various services too started up by the company to have a layer of buzz in the world by this brand name. Mobile and desktop applications can be developed by the company to create an innovative buzz in the industry and leading to successful results of these initiatives. However, there are prevalent threats from the competitors in regard with innovation and creativity as in this world of globalization, sustainability, and agility, creativity has become the main component of all the organizations thriving for success. Innovation Programs In 2008, Nike launched the most innovative shoe which was designed up to date matching up with the sustainable practices but with no compromise over performance. Innovation and its chain of productivity was the heart of the company which led to breakthrough designs to develop a ground braking, water based process of bonding allowing fiber plate to be attached with no use of solvent based cement. In the same year, waste from the factory floor was utilized by giving it a second life in the form of basketball shoes pieced up from synthetic leather and leather waste together with a zig zag stitching, scrap ground foam and mid soles with the help of environment friendly rubber. In 2009, the evolution of strategies was observed in Nike where there was a shift from philanthropic, compliance model and risk management based system towards long term strategies that focused over innovation, transparency and collaboration to be able to make the company strive for excellence and sustainable economy. In the year of 2010, Nike introduces one of the most technologically advanced and environment friendly jerseys for football players of South Africa. It was made up from the material of recycled polyester with the help of recycled plastic bottles. LAUNCH program in 2013, collaborated system designers, specialists, manufacturers, academicians, NGOs and entrepreneurs to develop and drive system innovation (Lee, 2012) summit to foster some innovative actions around sustainability of matter and material and the way they will be made. The future aim of the company is to use the concepts and utilities of innovation to bring about a series of positive changes throughout the entire supply chain and to continue to give a patient ear to listen the voices of the workers who are the actual catalysts for innovation and change. Intrapreneurship in Nike Intrapreneurship refers to the mindset and approach of some people who work inside some of the major organizations to promote and inspire practical solutions for challenges in an innovative manner. The application of innovative strategies and policies to renew the operations of an organization are undertaken up by intrapreneurs. The employees or leaders think about an innovative idea and playing a role of intrapreneurs, they implement it effectively within the organization for a new project venture. In Nike, intrapreneurship is aided and supported by top leaders and management as innovation is like a metaphor for the organization, Nike. The structure and culture of the company, being creative, innovative and disruptive, makes it favorable for the employees to think out of the box and come up with innovative strategies. Even the designers of the company support the cause of innovation and therefore, are regarded as being intrapreneurs. Nikes Innovation Pop-Up Stores To specifically cater to the Nike company in Australia, there must be a keen focus over the Innovation Pop-Up stores that are brining cutting edge technologies in the streets of Sydney to bring about a feel of sporty time in Australia. Innovation Pop-Up store + NINE is a platform and showcase of the long term strategies that have been cooked up in the kitchen of innovation of Nike. Sydney welcomed the first bright swoosh motif in Australia with innovation pop-up stores having tech designers at the streets of Sydney. The Military, NASA and Nike came up together to dig deeper into apparels that defines a new depth (Surchi, 2011). Nike is synonymous with the ingredients and flavors of innovation and therefore, it can be observed that their highly technically advanced sporting gear can be seen in the windows of the pop-up stores which are the storehouse of companys most innovative and recent designs. The design of the store itself is three dimensional with transport network graphics (Marciniak, 2009) adorning them in a multi colored theme. The Nike-clad athletic mannequins are displayed in the form of an exhibition over the streets of Australia. Matt Nordstorm is the genius mind behind this masterpiece innovation. The revolutionary ideas, products and applications from the company can be seen by the general public in this high profile innovation stores with items available for the purpose of both exhibition and sales. The store is an example of mesmerizing technologies in the context of both form and function. The main aim of these innovative and technologically advanced stores is to satisfy the aspirational and inspirational elite and instinct of the athletes hidden in all. People can pull themselves in athletic shoes from these stores and experience an all rounder experience for all the athletes. Everything in these pop up stores have lightest, strongest and one of the most latest of the innovations that the company has to offer which most of the world or specifically common people have not seen in their home land before. Conclusion It can be concluded from the study that Nike is another name for innovation and the people internal to the organization have their values deep inside to create an environment and culture of creativity. Nike has a whole supply chain with entrepreneurs contributing their innovative part into development and success of the company. Nike in Australia has come up with plethora of innovative strategies like pop-up stores to fire up the blaze of innovation and lead the company with creativity. References Bond, C. 1996, Shaping Up for the Shopper,Marketing, pp.24, 29. DeLong, M. 2009, Innovation and sustainability at Nike,Fashion Practice: The Journal of Design, Creative Process the Fashion Industry, 1, no. 1, pp. 109-114. Lee, S. M., Olson, D. L., Trimi, S. 2012, Co-innovation: convergenomics, collaboration, and co-creation for organizational values, Management Decision, vol. 50, no. 5, pp. 817-831. Marciniak, R., Budnarowska, C. 2009, Marketing approaches to pop up stores: an exploration of social networking. Murphy, D. F., Mathew, D. 2001,Nike and global labour practices: a case study prepared for the New Academy of Business Innovation Network for Socially Responsible Business, New Academy of Business. Ramaswamy, V. 2008, Co-creating value through customers' experiences: the Nike case,Strategy Leadership, 36, no. 5, pp. 9-14. Stonehouse, G., Minocha, S. 2008, Strategic processes@ Nikemaking and doing knowledge management,Knowledge and Process Management, vol. 15, no. 1, pp. 24-31. Surchi, M. 2011, The temporary store: a new marketing tool for fashion brands,Journal of Fashion Marketing and Management, 15, no. 2, pp. 257-270.