Nike's Path: Sustainability and Innovation Shape Business Model
Nike CEO, Mark Parker, in a recent letter "To everyone," illuminated Nike's commitment to innovation and sustainability. This reflects a cultural shift coming from the core values of the organization. Parker explains:
I grew up in design and innovation. I grew up at Nike. And for all the athletic and cultural and financial successes of the company, I believe our work in sustainable business and innovation has equal potential to shape our legacy. For that to happen, we have to focus on the lessons we've learned:
- Transparency is an asset, not a risk
- Collaboration enables systemic change
- Every challenge and risk is an opportunity
- Design allows you to prototype the future, rather than retrofit the past
- To make real change, you have to be a catalyst
Consistent with Nike’s commitment to reporting and transparency, Parker’s letter and a short video are a prelude to a thorough Corporate Responsibility Report FY 07 08 09. The report credits The Natural Step, Business for Social Responsibility (BSR), Deloitte & Touche and the World Economic Forum as collaborators that helped Nike define its strategic path toward sustainability.
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As part of this work, we tested the real business impact of our changing world on NIKE, Inc. and explored how our consumer brand could thrive in a sustainable economy. We concluded that we need to continue to refine our existing business model while simultaneously looking at new ways of doing business.
This work underlined two key challenges: that solutions will demand industry-level systemic change, and that the scale and complexity of changes needed demand new approaches to innovation and collaboration.
As we enter 2010 this work continues, with a number of ambitious goals:
1. Put investing in sustainability as a key innovation/R+D priority on consumer brands’ agendas.
2. Fast track innovation through investment and collaboration.
3. Launch the GreenXchange as a platform for enabling the sharing of intellectual property to fast track changes efficiently.
4. Build an advocacy agenda to push for large-scale policies and investments in sustainable innovation
Nike’s commitment did not come about over night. It has been transforming how the organization sees its place in the market and the world for 10 years. We are proud to be part of that ongoing transformation and hope other organizations will recognize and rise to the challenges we face with similar optimism and enthusiasm. We applaud Nike's vision and grasp of reality. Download excerpts of the report. If you don't have time to read the entire report, here is one additional insight:
The Future: Closed Loop Business Model
The financial, social and environmental imperatives for moving to a sustainable economy will dictate how business models evolve over the next decade. We believe that we are entering an era of post-globalization, one in which new business models will emerge based on the overwhelming pressures fueled by regulation, scarcity, consumer behavior and innovation.
We think the future will demand closed-loop business models that move closer to achieving zero waste by completely reusing, recycling or composting all materials.
Our vision of a closed-loop business model includes up-front design of products that can be manufactured using materials reclaimed throughout the manufacturing process and at the end of a product’s life.
Monday, January 25, 2010 at 12:53PM
Reader Comments (15)
Some more business tricks are necessary for winning and taking forward the business,like the NIKE.
We have been advocates for human dignity in the work day, fair trade, real world trade and restoring real free enterprise since 1992 and online since 1998 with thousands of references and results on the world wide web as Tapsearch, tapsearcher, tapart news, bizarrepolitics, therationale and Ray Tapajna Chronicles.
We mix published letters and articles with our thought provoking topical Art that Talks.
Nike's sustainability commitment is exactly what we need more of. A big, successful corporation, that is doing VERY well while taking steps toward more and more sustainability in the mix along the way. The brands that are hesitating or thinking its a fad, or that consumers aren't demanding it, should take note. And, kudos for committing to the GreenXchange! When I read about the Organic Exchange founded by the likes of Patagonia, PrAna and Nike, I hoped it was only a matter of time before such a resource would develop for the broader pursuit of sustainable manufacturing and business practices. The real goal is for companies to compete on who gets the furthest with their sustainability initiatives first. Corporations that are still hesitating to jump in at all should just close up shop.
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