Founded in 1968 in Oregon. Nike’s concern activities involve design. development and the world-wide selling of high quality dress. equipment. footwear and accoutrement merchandises.
Nike sells to about 140 states around the universe and presently boasts an approximative gross of $ 8. 776. 900. 000 These grosss are based on merchandise gross revenues of places. vesture. and other athleticss merchandises. Ad expenditures presently entire $ 223. 300. 000 and include the undermentioned allotments: $ 64. 975. 000 for web telecasting. $ 31. 447. 000 for consumer magazines. $ 7. 700. 000 for topographic point telecasting. $ 343. 000 for newspapers. $ 134. 000 for out-of-door posters. and $ 36. 000 for wireless. ( Reed Elsevier ) Most footwear merchandises are made outside of USA. However apparel merchandises are produced in the USA and abroad. ( World Wide Web. statcan. ca )
In this article we will seek to research the interaction between the company Nike and its external concern environment. every bit good as the internal strengths and failings of the company. We will try to detect some of the important alterations and events in the external environment that have occurred in the last 5 old ages and have straight impacted Nike. We will depict how the company adapted and responded to these alterations and what the effects of these events were. Besides we will place and depict some of Nike’s internal strengths and failings.
CHANGES AND EVENTS IN THE EXTERNAL ENVIRONMENT INTERNATIONAL CRISES
One of the most recent planetary environmental alterations are the e...
vents of September 11th 2001. when aeroplanes crashed into each of the World Trade Center towers in New York. the Pentagon near Washington. D. C. . and near Pittsburgh. P. A. ( World Wide Web. geocities. com/Athens/Acropolis/5232/ ) U. S. authorities functionaries reported that the clangs were a co-ordinated terrorist onslaught. Since this calamity was non expected. no 1 was ready to react to it. Cole Haan shop ( owned by Nike ) . located in the World Trade Center place has been wholly demolished. However. all of about 250-260 Nike and Cole Haan employees based in New York are safe and accounted for. In add-on. no Nike employees were on board any of the planes involved in the terrorist onslaughts in New York. Pennsylvania and at the Pentagon. ( World Wide Web. centrum. sk ) After shuting on Tuesday. September 11th. and Wednesday. September 12th. all other Nike and Cole Haan shops in New York and Washington D. C. are unfastened. ( World Wide Web. Nike. com ) This catastrophe affected non merely the American people but besides the universe economic system and many countries of concern. including Nike Inc. The value of American dollar dropped quickly and is retrieving really easy. Nike has a big sum of their merchandises in stock list. which they are unable to sell and are fixing to cut down the production.
This would intend a important retrenchment in figure of employees. ( World Wide Web. geocities. com/Athens/Acropolis/5232/ ) Many consumers have reduced their travel to certain retail finishs ; in general consumers are buying few non-essential merchandises. Nike expects lower gross revenues and ne
incomes over the following several months as consumers closely monitor the U. S. onslaughts on Afghanistan. ( World Wide Web. Nike. com ) When a military run. like the one in Afghanistan. brings new developments or intensifies. U. S. consumers buy less. motivating retail merchants to go more cautious with their merchandise orders. These events caused a 12 per centum diminution in portions since September 11th of Nike Inc. . the industry’s leader. ( World Wide Web. Nike. com ) The company said the September 11th onslaughts on the United States have disrupted most of its long-range scheme programs. Analysts have predicted a modest lessening in quarterly net incomes estimations for Nike. They besides said they expect fourth-quarter 2001 gross revenues to be hurt by the lag in consumer disbursement. ( World Wide Web. msn. com ) Decline and slow recovery of Nike’s stock since Sept. 11th 2001 ( World Wide Web. moneycentral. msn. co. United Kingdom )
The company expects to scale back advertisement and production following twelvemonth. ( World Wide Web. Nike. com ) Nike. as a planetary company. is now concentrating its attempts on helping in the alleviation attempts and in minding President Bush’s directive to recover concern every bit rapidly as possible. ( World Wide Web. sme. sk ) Both local and national Red Cross bureaus have identified immediate fiscal support as their most critical demand. For that ground. the Nike Foundation has been roll uping parts from single Nike employees and factory spouses across the state and throughout the universe. Through fiting financess. Nike is doing a $ 1 million part to the American Red Cross and a assortment of other local alleviation organisations through fiting financess of employees and factory spouses. In add-on. Nike spouse mills in Asia. Feng Tay and Pou Chen. have donated $ 100. 000 each to the American Red Cross. ( World Wide Web. Nike. com ) Nike besides is working with alleviation bureaus in New York. Washington D. C. and Pennsylvania to supply contributions of Nike merchandises for victims who are affected by these tragic fortunes. every bit good as for those involved in the deliverance and recovery attempts.
These contributions include more than 14. 000 jerseies. 11. 400 braces of socks. 1. 200 braces of Nike ACG work boots. 1. 000 towels. plus 100s of braces of places. tune-ups. jackets. perspiration shirts and gym bags for deliverance workers to hive away their personal properties. ( World Wide Web. sme. sk ) ( www. Nike. com ) Nike and Niketown New York will go on to organize with alleviation and authorities bureaus and supply as many requested merchandises as possible for fire and deliverance forces. Already. more than $ 300. 000 Nike merchandises have been delivered or are on their manner to New York alleviation bureaus. ( World Wide Web. Nike. com ) Nike US employees participated in a Red Cross blood thrust on Sept. 24-25 at its Beaverton-based universe central office and Oct. 1st and Oct. 5th in its Memphis distribution centre location. Nike besides has donated money to chuck for airtime for two 30-second advertizements to the Red Cross
during the Oct. 7 broadcast of the World Cup measure uping lucifer between Team USA and Jamaica on ABC. every bit good as buying infinite the West 4th wall in Manhattan for advertizements. ( World Wide Web. Nike. com ) The old Numberss indicate Nike’s response to this immense planetary alteration from societal every bit good as from the concern point of position.
Nike’s contributions as a response to the events of Sept. 11th 2001 Organization Amount Designation American Red Cross $ 250. 000 ( $ 106. 000 from Nike employees globally ) Relief attempts in NY. Washington. DC. and Pennsylvania PBA Widows and Children’s Police Relief Fund c/o Police Benevolence Association $ 175. 000 Aid to NY households for burial costs and household endurance disbursals UFA Widows & A ; Children’s Fund c/o Uniformed Fire Fighters Assn $ 175. 000 Aid to NY households for burial costs and household endurance disbursals Federal Employee Education & A ; Assistance Fund $ 100. 000 Aid to households for burial costs and household endurance disbursals International Association of Fire Fighters $ 50. 000 Aid to NY households for burial costs and household endurance disbursals New York State Fraternal Order of Police “” WTC Fund $ 50. 000 Aid to NY households for burial costs and household endurance disbursals Catholic Charities USA $ 50. 000 Immediate guidance and household services for those impacted by NY catastrophes United Methodist Committee on Relief $ 50. 000 Immediate guidance and household services for those impacted by NY catastrophes Mercy Corps “” “Comfort for Kids” Project $ 25. 000 Helping kids and households in NY and Washington DC Misc. “” eventuality fund $ 75. 000 Programs and organisations advancing racial and spiritual healing and community edifice attempts Total Reported Cash Donations $ 1 million ( World Wide Web. Nike. com )
As the modern universe alterations through progresss in engineering. the planetary market economic system besides changes. impacting planetary concerns such as Nike Inc. Technological alterations in the signifier of machines and mechanical innovations affected the economic system during the industrial revolution. but today the progresss are more in computing machine engineering. The first computing machine was produced in the US about 50 old ages ago and was the size of a big room necessitating its ain electric power works and cost a million dollars to construct. This mammoth computing machine could merely make simple computations. Computers have since decreased greatly in size and cost and increased in productiveness and capablenesss. In the 1980’s there were large betterments in microprocessors. which allowed for the immense technological progresss of the 90’s. Computers are now portion of many families and about every household in the developed universe has a computing machine. The top personal computing machine now costs between $ 2500 and $ 3500 compared to the larger theoretical accounts earlier in the past century. The Internet has besides been spread outing globally and has changed our universe into and planetary small town.
The first version of “the net” was developed in 1969. during the Cold War by the US section of defence as a communicating in instance of atomic onslaught. The
net became available in the 1980’s for electronic mail and Internet confabs. but betterments in HTML in the 1990’s sparked the birth of a new manner of communicating and concern ( World Wide Web. freespace. virgin. net/g. hirst/ ) . A recent study calculated 120 million users of the net worldwide and Numberss are still turning at an tremendous rate. The development speedy burden and the fast moving Internet attracted people to make more things on the Internet. One of the new progresss of the Internet is an E-business. Many people are now telling goods and services over the Internet. One other usage of Internet is besides advertisement. Recently. Nike has been seeking to happen new markets and consumers. One immense invention to acquire closer to the client is through the Internet. The Internet makes information available to people all around the universe.
Nike’s web page is designed to entertain the visitant through advanced. colorful artworks ; to inform the possible client of Nike’s activities ; and advance and sell their merchandises through the E-shop. The Nike accommodates to the universe tendency of Internet and shopping over the Internet. They made their ain web-shop where sing clients can easy happen the merchandise. which they are looking for. This is a great manner to better hereafter concern of the company as Internet concern is bettering so rapidly. It is besides of import to set a batch of attempt and quality into the services offering through the Internet to do a good repute about the services and name of the company. ( World Wide Web. niketown. com ) GOVERNMENT REGULATIONS. LAWS AND TRADE BARRIERS In 1994. the EU committee imposed quotas on certain types of footwear manufactured in China. Special Technology Athletic Footwear. footwear designed for usage in featuring activities. met certain proficient standards and footwear holding a CIF ( cost. insurance and cargo ) monetary value above 9 EURO’s was excluded from these quotas.
All other footwear produced by Nike falls under the quotas. However Nike feels that the quotas have non material consequence on their concern. ( World Wide Web. Nike. com ) In 1995 the EU committee initiated two anti-dumping statute laws covering footwear imported from China. Indonesia and Thailand. In 1997 and 1998. the committee imposed definite anti-dumping responsibilities on certain man-made. fabric and leather upper footwear arising from China Indonesia and Thailand. These anti-dumping responsibilities have exclusions for STAF footwear. athleticss footwear and footwear with the CIF above 5. 6 EURO’s. ( World Wide Web. Nike. com ) This means the anti-dumping responsibilities apply merely to low cost footwear. which means that Nike can administer most merchandises except kids places and low cost sandals. However Nike shifted the production of these types of footwear to other states and therefore the anti-dumping responsibilities have non had a material affect on their concern. ( World Wide Web. centrum. sk )
If the EU measures become more restrictive Nike recommends that the European subordinates consider switching the production of footwear to other states in order to keep competitory pricing. Nike continues to closely supervise international limitations and keep a multi-country sourcing scheme and
eventuality programs. Nike believes that their major rivals are in the similar place. ( World Wide Web. pravda. sk ) NEW MARKETS AND CONSUMER TRENDS Revenue for the past three old ages of Nike’s international ( non-US ) and US market ( www. nikebiz. com ) Over the past 4-5 old ages many new markets have opened for Nike. non merely from the geographical point of position and enlargements outside the US but besides from the client demand and tendencies position. ( World Wide Web. centrum. sk ) As the construct of the planetary small town is going world. more undischarged markets are opening up. Nike divides its planetary concern into four parts: the United States. Europe. Asia Pacific. and the Americas. ( World Wide Web. Nike. com ) While each part increased gross in the financial twelvemonth 2001. most of its growing came from the new undiscovered markets outdoors.
In the last seven old ages. Nike has built many international subdivision offices and subordinates as a response to the altering market. These are located in: Argentina. Australia. Austria. Belgium. Brazil. Canada. Chile. Croatia. Czech Republic. Denmark. Finland. France. Germany. Hong Kong. Hungary. Indonesia. India. Ireland. Italy. Japan. Korea. Malaysia. Mexico. New Zealand. The Netherlands. Norway. Peoples’ Republic of China. The Philippines. Poland. Portugal. Singapore. Slovenia. South Africa. Spain. Sweden. Switzerland. Taiwan. Thailand. Turkey. the United Kingdom and Vietnam. ( World Wide Web. Nike. com ) Percentage of footwear production in specific states The European market for athletic footwear and dress continues to boom. Every twenty-four hours. new stores unfastened with a committedness to presentation and service that NIKE emphasizes. Nike feels the emotional connexion turning in Europe is similar to the one NIKE created in the U. S. 20 old ages ago. ( World Wide Web. Nike. com ) Nike’s Asiatic market is really profitable but besides really demanding one. This market depends on reliable athleticss placement and the ability to present technology-based public presentation merchandises. Nike’s effort to carry through these standards has so far been really successful.
Nike is particularly enthusiastic about the World Cup coming to Japan and Korea in 2002. They hope this will supply them with a great chance to act upon their association football success in Asia. ( World Wide Web. Nike. com ) The most competitory and developed market in the universe for Nike is the USA. Grosss in this market turn at two per centum per twelvemonth. Although Nike has been fighting in some countries of this market. it continues to take the athletic footwear market in portion and merchandise invention. Apparel in the U. S. is easy doing its manner back to the market after twosome of tough quarters in the past 2 old ages. U. S. Apparel is presently up 9 % in gross for the twelvemonth and is get downing to stabilise in the 2nd half of financial 2001. ( World Wide Web. Nike. com ) Changes that have occurred in client demand are straight relative to the present tendencies of people.
Harmonizing to recent researches. American childs have merely 25 per centum of their day-to-day life considered as “free clip.
” compared to about 40 per centum in 1981. ( World Wide Web. Nike. com ) For a athleticss company this means less demand for leisure clip apparels. footwear and equipment. Harmonizing to statistics. athletic footwear gross revenues have shown a lessening in the 3rd one-fourth. This fact represents back-to-school gross revenues. bespeaking less involvement by the important teenage market as it moves toward different expressions in the footwear country. This may be explained by an overall displacement of involvement and manner in this market from athleticss toward amusement. music. and famous persons.
A recent tendency in the athletic footwear concern shows that several of the big corporations are losing market portion due to the worsening gross revenues in traditional markets. As aerobic exercises. fittingness and cross preparation markets decline there is a displacement to non-traditional athleticss. By 1998. the promotion for a market in brown places had passed. Brown places ne'er impacted the athletic footwear market as predicted. Alternatively. boosting. off-trail and manner footwear continue to demo strong growing. with many athletic footwear companies spread outing into those countries. ( World Wide Web. Nike. com ) It is predicted that the market for athletic footwear has peaked and is now worsening and leveling off at a production degree of about 300 million braces. Fashion goaded spikes frequently occur. such as in 1995 where a production degree of 345 million brace was reached.
This is viewed as a fillip for the industry. ( World Wide Web. Nike. com ) Retailers will boom at the 300 million brace a twelvemonth production degree by working with retail merchants to consolidate shop locations. manage stock lists and maximise sell-through. The continued tendency over the last five old ages is the consumers’ willingness to pay. on norm. higher monetary values for athletic footwear. ( World Wide Web. proquest. com )
IMPORTANT FINANCIAL EVENTS
The fiscal interactions between states and authoritiess affect the net incomes of the big corporations such as Nike and the retail values of their merchandises. In North America minutess are frequently measured in US dollars. This common currency makes minutess easier between states. In the European Union. 15 different states must change over their different currencies when making concern with other states. This frequently accounts for increased retail monetary values in international goods and services.
On January 1st 1999. 11 of the 15 members states of the European Union established lasting transition rates between their bing currencies and the new EURO. the new common currency of the European brotherhood. Until the terminal of the passage period. public and private parties may pay for goods and services utilizing the states original currency or the EURO. Get downing January 2002. the EURO will be the official currency of the EU and the original currencies will be wholly withdrawn from circulation by June 30th 2002. ( World Wide Web. Nike. com ) Since January 1998 Nike has been researching the complications and affects of the passages to the EURO. Nike’s devoted undertaking squad has made alterations to inform engineering systems back uping the market. direction. invoicing. wage functions and hard currency direction maps in order to do their transition
Nike believes that the debut of the EURO will extinguish inequalities in exchange rates between states although differences in cost between states and different revenue enhancement rates will still impact monetary value differences at the retail degree. Over the past three old ages Nike has been actively working to buttockss and adjust a patterns in pricing to run efficaciously under this new currency. ( World Wide Web. Nike. com ) The cost of accommodating Nike’s systems and patterns to the usage of the EURO sum about 8 1000000s US dollars and was by and large related to the alteration of their bing systems. Nike besides believes that the alteration of currency will non hold an impact on the fiscal conditions of consequences of operation. ( World Wide Web. nikebiz. com )
INTERNAL STRENGTHS AND WEAKNESSES STRENGTHS
Decision Making Nike’s strongest arm is decision-making. Their managerial squad has been able to do determinations specific to their demands and although non all the clip. most of the clip they were right. They combined reason. intuition and experience to come up with the best determinations of all time made in this market. To turn out the above. we can merely look at some of their well-known picks made in the yesteryear. Nike directors decided to trust on globalisation and externalisation of hazard through entirely or partly-owned subordinates. ( World Wide Web. Nike. com ) The fact that they have subordinates all over the universe helps them to go more flexible and partly acquiring rid of possible hazard. Their flexibleness is proved by the diverseness of athleticss countries they are involved in. which has besides turned out to be a great determination since Nike is ruling most of these markets. ( World Wide Web. Nike. com ) This company is able to fabricate merchandises for a twelve of different athleticss and still maintain the top quality in all of them. From the start. the directors of Nike decided to number on client satisfaction and entire quality of their merchandises. recognizing the societal outlooks that lied upon their shoulders.
They have believed that quality outweighs the excess sum of money spent on fabrication of the best merchandises on the market. One of the most of import determinations of Nike’s direction was publicizing. They spent big sums of money on commercials. which have in the long term paid back in multiples. They have used celebrated jocks to advance their trade name. which is considered a great strategic program. Besides they decided to affect in assorted societal activities. Their extraordinary advertisement has helped them to develop the well-known image they have. ( World Wide Web. msn. com ) The proprietors of the company visualized. gave the company a signifier. put their ends and so they tried to accomplish them.
They hired the right forces and they motivated them by by and large higher rewards than their rivals were offering. They besides involved their employees in originating and implementing alteration. Harmonizing to these employees. Nike allowed them to derive self assurance. show their creativeness. and affect in doing determinations that need non merely the expertness of a director but besides an experience
of a worker. ( World Wide Web. Nike. com ) Looking at the present consequences of Nike’s determinations. this sort of authorization has shown to be a great pick.
Research and Development Efforts Nike believes that the cardinal factor of its success originates from their research and development attempts. ( World Wide Web. Nike. com ) They emphasize the proficient invention in the design of their merchandises to accomplish their fabrication ends. which are to make merchandises capable of cut downing hurt. increasing athletes’ public presentation and maximising comfort. Of class. Nike pays a batch of attending to their products’ design severally to the present tendencies. ( World Wide Web. sgma. com ) Since these standards require a specific expertness. enlisting is one of the most of import managerial issues of Nike. Looking at their yesteryear. we have to acknowledge that they have succeeded in this with excellence. Nike has ain staff of specializers in the countries of biomechanics. exercising physiology. technology. industrial design and others. They besides have commissions specialized on research and advisory.
These commissions are made of top-level jocks. managers. trainers. equipment directors. orthopaedicss. chiropodists and other experts. ( World Wide Web. Nike. com ) These people use their expertness and experience to assist Nike on its manner to betterment. They help them to develop new better merchandises and better upon present merchandises. They besides consult the company about designs. stuffs. and construct for merchandise betterment. Athletes hired or sponsored by Nike test-prove the company’s merchandises during the development procedure. These facts are strongly held within the company and Nike is proud to include them in their studies ( World Wide Web. nikebiz. com ) .
Ability To Respond And Adapt To Changes Since Nike is a consumer merchandises company. the demand for their merchandises extremely depends on popularity of different athleticss and activities and the altering tendencies. Therefore they should be able to react to these alterations in costumier penchants and rapidly accommodate to them. This company must set their existing merchandises. develop new 1s. and create manners that are specific to the tendencies. ( World Wide Web. sgma. com ) They besides have to do an attempt to act upon athleticss and fittingness penchants through aggressive selling. This sort of environment is really unstable and puts one against many different beginnings of hazard. If you fail to respond rapidly to such alterations it will demo up on your gross revenues and net incomes studies. Since Nike has been busying the top of the athleticss equipment makers chart for a long clip they are acquiring used to their schemes. which are now going wonts. ( World Wide Web. Nike. com ) This may be really utile in some instances but harmonizing to analysts. over clip. organisations develop and lock into ways of making concern. in malice of altering conditions.
Nike’s scheme has been to rule merely the markets that are comparatively safe and be given to be really profitable since it has become the world’s leader in this market. ( World Wide Web. Nike. com ) Despite their great determination doing abilities this has turned out to be a really
hapless pick. For illustration. Nike did non react to the turning market of aerobic exercises and fittingness preparation because it seemed excessively little to be deserving that much attending. ( World Wide Web. sgma. com ) However. Reebok developed a line of aerobic exercises and fittingness equipment which has met a batch of popularity among the clients. Since so. Reebok has been taking this market. which is presently the country of their chief involvement. ( World Wide Web. sgma. com ) This was an illustration of a slow response to environmental alterations. However. there are countries where Nike responded rapidly and still was non rather successful. For illustration. association football is presently the figure 1 athletics in the universe and is presently dominated by the trade name Adidas. ( World Wide Web. fisonline. com )
Even though Nike association football equipment qualitatively meets the Adidas merchandises. Nike has non been able to take over this market. So what was incorrect with their reaction? To rule such a big market you have to be more aggressive and be able to derive clients attending. ( World Wide Web. sgma. com ) Nike’s “failure” in the association football market is by and large seen as the deficiency of involvement. aggressivity and creativeness in this country of concern. ( World Wide Web. referaty. sk ) Growth Company That Has Not Grown Fiscal twelvemonth 2001 was an above norm twelvemonth for Nike. However. it was non great even though they finished hard in the 4th one-fourth. This twelvemonth was reasonably similar to the last four old ages. During that clip Nike has been a growing company that has non grown. Until the terminal of the financial twelvemonth 1997 everything was traveling great for Nike. From 1994 to 1997 this company went from being a strong company with turning market portion and $ 3 billion in grosss to one with dominant market portion and grosss over $ 9 billion. ( World Wide Web. Nike. com ) Everything seemed to be traveling perfect for Nike. they were successful in everything they touched and they were turning quickly. At the terminal of the financial twelvemonth 1997 they found themselves in a place where employees were euphoric. but overworked since there was non plenty of them.
To maintain this enthusiasm traveling they hired more people and continued on their way to going a truly planetary company. ( World Wide Web. sgma. com ) Since they realized that this couldn’t be accomplished over few old ages they were seeking to be the best at everything they were making every bit good as constructing a strong squad for the hereafter. ( World Wide Web. Nike. com ) This was precisely the point where their growing has frozen and ne'er started once more. They penetrated new markets successfully. but were non able to maintain up the criterions they had set earlier. They focused on new countries of concern so much that they forgot to make the old simple things right. ( World Wide Web. sgma. com ) Despite all these attempts the industry was standing still. There were different grounds for this such as
the U. S. market hitting the recession point. Nike establishing a monolithic 3-year supply concatenation inspection and repair and the tough period in the Asiatic economic system. ( World Wide Web. Nike. com ) The U. S. market recession point was good expected since this market had grown so fast. Nike establishing the monolithic 3-year supply concatenation inspection and repair. which was good in progress of the competition. was non a productive scheme in short-run but its benefits are supposed to demo up in the financial twelvemonth 2002. ( World Wide Web. Nike. com ) Last the downside of the Asiatic economic system was besides predictable since this is a market with large turnovers and hazards. However. it was non expected to act upon Nike every bit much as it did.
Great companies are able to cover with such events and maintain on turning. Nike directors did non pay adequate attending to these facts and that was the chief ground of their growing arrest. ( World Wide Web. sgma. com ) Even though Nike is presently turning in some countries of market. such as Europe. Asia. Latin America and the association football and golf markets. overall they are standing still. ( World Wide Web. Nike. com ) Year 2001 is the cogent evidence of the above. In this twelvemonth Nike forgot to vie mid- and low-cost footwear in the U. S. and they were non able to fit their orders and production good. in which they were really successful in the past. Now. Nike has to confront a large determination. They can accept the jobs they have and allow their concern go easy down. or maintain excelling in some things. be mean in others and remain at the point where they are now.However. the best pick for Nike would be to happen the solutions to their jobs and get down turning once more. ( World Wide Web. msn. com ) ( www. sgma. com )
Nike’s environment is really unstable and exposures companies to unexpected hazards. By and large. Nike has been able to react to these alterations ( except few exclusions ) by their creativeness and flexibleness. This company tries to forestall a direct impact of these alterations on them by projecting hazard. Despite these facts. Nike’s enlargement is non every bit important as it is expected to be. This is caused by some of their internal failing and external alterations. However. they still remain figure 1 in the universe footwear market. ( Company Profiles For Students )
1. Company Profiles For Students vol. 2 m-z” 1999 1st erectile dysfunction. P. 944-949 2. World Wide Web. proquest. com 3. World Wide Web. geocities. com/Athens/Acropolis/5232/ 4. World Wide Web. sgma. com 5. World Wide Web. centrum. sk 6. World Wide Web. zoznam. sk 7. World Wide Web. freespace. virgin. net/g. hirst 8. World Wide Web. fisonline. com 9. World Wide Web. statcan. ca 10. World Wide Web. moneycentral. msn. co. uk 11. World Wide Web. msn. com 12. World Wide Web. Nike. com 13. World Wide Web. niketown. com 14. World Wide Web. nikebiz. com 15. World Wide Web. sme. sk 16. World
Wide Web. pravda. sk 17. World Wide Web. referat. sk 18. Reed Elsevier. 2000
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