Shoe Dog by Phil Knight
1. Nike has been the dominate shoe brand for me my whole life, so I was surprised when I learned that it wasn't always named Nike. Blue Ribbon Shoes definitely isn't as catchy as Nike, but that's why all companies go through changes during their evolution process.
I admired Phil Knight's determination. As we saw in this class, failures are inevitable in entrepreneurship but Phil found his way around those obstacles to find success. Without an immense amount of determination, achieving what he did would not be possible.
All great entrepreneurs have some downfall's and I understand why Phil used sweatshop style labor to reduce his costs, but I do not support those actions. His use of foreign labor is what I admire least about him and his brand.
Like all entrepreneurs, Phil encountered his fair share of failures, but he was also able to overcome them by learning from them rather than giving up on his dreams. The biggest companies in the world are products of many failures.
2. A competency that I noticed Phil had was that he was open minded which helped spark the innovation within his company. He knew that the people he was surrounded by were the most important capital he had and he knew how to leverage them.
3. The reading was pretty straight forward, but an area of confusion was learning that it was once called Blue Ribbon Shoes. I had to go back and read that a second time, because in our minds, it has always been Nike.
4. I would ask Phil why he still uses sweatshop style labor, because I understand using it to start off to reduce cost when money is tight, but now that it's a billion dollar, international company I feel like he could do better. I would also ask him how he has combated his competitors over the years like Under Armor and Adidas and how he plans to fend off growing clothing brands like Lululemon and others in that realm. Active wear brands are on the rise and these could present new obstacles to his company.
5. I think Phil's idea of hard work is being patient and consistent in everything you do. He understands that great things take time and that rushing into things could spell disaster. I would say that I'm a little less patient than Phil, but other than that, we might have to same outlook on hard work.
Hey Caelan,
ReplyDeleteYou did a great job on your write up in regards to your reading reflection. It is interesting to see the different themes and overall summaries of each different book in the ENT3003 library. I was not informed about the book you chose before reading about your write-up. I have a lot of interest from this book just from your outline and will probably take initiative to read the book now. Overall, great post and details, well written.
Caelan,
ReplyDeleteI enjoyed reading your book reflection. I did not read the book, but I read a few things over the years about Nike in the news. After reading your post, I am more curious about Nike’s history as a company and the decisions they made to become the dominant force in their industry. I share your view on the use of cheap labor to cut costs. Ethics are hairy topic, especially when your decision is between doing the right thing for people in a remote area of the world or pleasing the shareholders next door. Nike is not alone on that court, but more and more companies are taking steps in the right direction and improving conditions. I think your post has the right level of details and covers all the points of the assignment. Great job!
Caelan,
ReplyDeleteI was also shocked when hearing that Nike was not always named Nike. It has such large brand recognition that it seems like people have been hearing the name forever. I agree that Phil Knight had extremely incredible determination based on your descriptions and that being open minded is very important when it comes to entrepreneurship. Overall, great post!