Final answer:
Nike faces challenges in its internal and external environments. The internal challenges include supply chain management, talent retention, and innovation/marketing. The external challenges include competition, changing consumer preferences, and pricing pressure. CEO John Donahoe can address these challenges by investing in technology, creating a positive work environment, focusing on R&D, staying updated on competitors, and implementing pricing strategies.
Step-by-step explanation:
Nike faces several challenges in its internal and external environments. Some of the top challenges in Nike's internal environment include:
- Supply Chain Management: Ensuring efficient production and distribution of products.
- Talent Retention: Attracting and retaining skilled employees.
- Innovation and Marketing: Staying ahead of competition with innovative products and effective marketing strategies.
In Nike's external environment, the top challenges include:
- Competition: Facing fierce competition from other sportswear brands.
- Changing Consumer Preferences: Adapting to shifting trends and demands of consumers.
- Pricing Pressure: Balancing the need for competitive prices while maintaining profitability.
To address these challenges, CEO John Donahoe can:
- Invest in technology and data analytics to improve supply chain management.
- Create a positive work environment and offer competitive incentives to retain top talent.
- Focus on research and development to drive innovation and implement effective marketing strategies.
- Stay updated on competitors' activities and adapt to changing consumer preferences.
- Implement pricing strategies that consider both market competitiveness and profitability.