STRATEGIC MANAGEMENT NIKE INC. -...

STRATEGIC MANAGEMENTNIKE INC.

ALICE DAL FUOCO - ANNE MÜLLER - THOMAS PETRIG - OLIVIER WEISS

TABLE OF CONTENTS

3 PRESENTATION OF COMPANY

4 VISION AND MISSION STATEMENT

6 EXTERNAL OPPORTUNITIES AND THREATS

7 EXTERNAL FACTOR EVALUATION (EFE) MATRIX

8 COMPETITIVE PROFILE MATRIX (CPM)

10 INTERNAL STRENGTHS AND WEAKNESSES

11 INTERNAL FACTOR EVALUATION (IFE) MATRIX

12 SWOT MATRIX

13 BOSTON CONSULTING GROUP (BCG) MATRIX

15 INTERNAL - EXTERNAL (IE) MATRIX

16 QUANTITATIVE STRATEGIC PLANNING MATRIX (QSPM)

18 RECOMMENDED STRATEGY

19 STRATEGY IMPLEMENTATION (ANNUAL OBJECTIVES, ORGANIZATIONAL CHANGES)

22 RECOMMENDED PROCEDURES FOR EVALUTATION AND CONTROL

3

NIKE INC.

NIKE INC. 1 SW BOWERMAN DRBEAVERTONOREGONUSA

COUNTRY OF ORIGIN: USALEGAL FORM: CORPORATIONYEAR STARTED: 1964FOUNDERS: PHIL KNIGHT, PHIL BOWERMANEMPLOYEE TOTAL: 38’000KEY PEOPLE: PHIL KNIGHT (CHAIRMAN), MARK PARKER (CEO)

“NIKE, Inc. (NIKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services. NIKE is a seller of athletic footwear and athletic apparel worldwide. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet sales, and through a mix of independent distributors and licensees, in ap-proximately 190 countries around the world. The Company focuses its product offerings in seven key categories: Running, Basketball, Football (Soccer), Men’s Training, Women’s Training, NIKE Sportswear (its sports-inspired products) and Action Sports. It also markets products designed for kids, as well as for other athletic and recreational uses, such as baseball, cricket, golf, lacrosse, outdoor activities, football (American), tennis, volleyball, walking and wrestling. NIKE’s athletic footwear products are designed primarily for specific athletic use.”

NYSE (). NYSE - New York Stock Exchange/Nike. Retrieved from http://www.nyse.com/about/listed/nke.html

4

NIKE INC.VISION

TO BRING INSPIRATION AND INNOVATION TO EVERY ATHLETE* IN THE WORLD.*IF YOU HAVE A BODY, YOU ARE AN ATHLETE.

TO INSPIRE WITH INNOVATION AND PROMOTE THE HUMANLY POSSIBLE.

. Inspiring and engaging

. Short in length but strong

. Aligns the organizational’s values (innovation)

. Everyone is addressed

. Not mentioned that they want to foster athletes with their innovative products to reach their limits

RECOMMENDATION

5

NIKE INC.MISSION

OUR GOAL IS TO CARRY ON HIS LEGACY OF INNOVATIVE THINKING, WHETHER TO DE-VELOP PRODUCTS THAT HELP ATHLETES OF EVERY LEVEL OF ABILITY REACH THEIR PO-TENTIAL, OR TO CREATE BUSINESS OPPOR-TUNITIES THAT SET NIKE APART FROM THE COMPETITION AND PROVIDE VALUE FOR OUR SHAREHOLDERS. OUR AIM IS TO OFFER ATHLETES ANYTHING

THEY DESIRE TO REACH THEIR HIGHEST LEVEL OF PERFORMANCE. ALWAYS A STEP AHEAD IN INNOVATION, WE INSPIRE ATHLETES ALL OVER THE WORLD AND SET NIKE APART FROM THE COMPETITION. AS LEADING SELL-ER OF SPORTS EQUIPMENT, WE CARE FOR A SUSTAINABLE ECONOMY WHERE PEOPLE, PLANET AND PROFIT ARE IN BALANCE. DRIV-EN BY INNOVATION, WE’RE USING THE EN-ERGY AND PASSION OF OUR PEOPLE TO CRE-ATE MEANINGFUL CHANGE.

. Include the organizational value of innovation

. Pragmatic and economic-driven

. Not very inspiring

. No social and / or environmental responsibility

. No mention of employees, public image or philosophy

RECOMMENDATION

6

NIKE INC.EXTERNAL OPPORTUNITIES AND THREATS

. NIKE AS A LIFESTYLE PRODUCT

. REDUCE DISPUTATION AROUND OFFSHORE FACILITIES

. SUSTAINABLE PRODUCTION / RESUSE OF WASTE

. EMERGING MARKETS

. DEMAND FOR LUNAR AND FREE TECHNOLOGIES

. HIGH UNIT SALES IN RUNNING, MEN’S TRAINING, ACTION

SPORT’S AND WOMENS TRIANING PRODUCTS

. GENERATION Y

. CHANGE IN CURRENCY EXCHANGE RATES

. HIGH UNCERTAINTY OF THE NETWORK BUSINESS MODEL

. EXPIRATION OF NIKE AIR PATENTS

. NEGATIVE PUBLICITY OF SPONSORED ATHLETES

. MARKET DOMINATED BY FEW BIG PLAYERS

. CHANGING CONSUMER DEMANDS

. NATURAL DISASTERS (EARTHQUAKE JAPAN ‘11)

THREATSOPPORTUNITIES

Nowadays Nike products have become more than only sports apparel, they have become a lifestyle. As a result of that people consider wearing Nike products, especially Nike footwear for casual and leisure activities. Nike should therefore use this opportunity, especially in connection with people born into the Generation Y. Due to the extension of juvenility, the Generation Y born are mostly single with no kids, sporty and health conscious and therefore are the most potential Nike clients. Not only the Generation Y but also all the other generations have also become extremely environmentally conscious and therefore it’s likely that the demand for sustainable apparel and footwear will rise within the next couple of years.

As a result of its network business model and its worldwide operations Nike is affected by a large amount of threats. Besides all its advantages, the network business model involves the danger of high environmental uncertainty. But also the daily change of currency exchange rates affects Nike’s retail business all over the world. Although Nike is only operation with five currencies (US Dollar, Euro, British Pound, Yen and Renminbi), they will still face heavy losses. Especially in Japan, where due to the earthquake and tsunami, the entire economy is still suffering from the recession.

7

NIKE INC.EXTERNAL FACTOR EVALUATION (EFE) MATRIX

KEY EXTERNAL FACTORS WEIGHT RATING SCORE

OPPORTUNITIES

THREATS

1. Nike as a lifestyle product2. Reduce disputation around offshore facilities3. Sustainable production / resuse of waste4. Emerging markets5. Demand for Lunar and Free Technologies6. High unit sales in running, men’s training, action sport’s and womens trianing products7. Generation Y

1. Change in currency exchange rates2. High uncertainty of the network business model3. Expiration of NIKE Air patents4. Negative publicity of sponsored athletes5. Market dominated by few big players6. Changing consumer demands7. Natural disasters

0.200.050.100.060.050.030.01

4121231

0.80.050.200.060.100.090.01

0.050.060.150.150.040.030.02

4332141

0.200.180.450.300.040.120.02

TOTAL 1.0 2.52

8

CRITICAL SUCCESS FACTORS

1. Market Share2. Product Quality 3. Price Competitiveness4. Brand Recognition5. Global Expanison6. Customer Loyalty7. Product R&D / Innovation8. Marketing Campaigns9. Product Diverstiy10. Sustainable Issues

WEIGHT RATING

NIKE ADIDAS PUMA

RATING RATINGSCORE SCORE SCORE

0.11 0.100.100.120.080.100.130.100.110.05

4434434444

0.44 0.400.300.480.32 0.300.520.400.440.20

TOTAL

3 4344 34444

0.330.40 0.300.480.32 0.300.520.400.440.20

24433 33324

0.220.400.400.360.240.300.390.300.220.20

1 3.8 3.69 3.03

NIKE INC.COMPETITIVE PROFILE MATRIX (CPM)

9

NIKE INC.COMPETITIVE PROFILE MATRIX (CPM)

MARKET SHAREThe global market share of a company is a rather critical factor for success and is therefore weighted with 0.11. Nike (7%) has been the market leader in athletic apparel over many years, closely followed by Adidas (6%) and Puma, with 2% market share.

PRODUCT QUALITYNowadays, customers demand high quality products from apparel manufactur-ers. This demand leads to the fact that differences in quality of products from Nike, Adidas and Puma can barely be discerned.

PRICE COMPETITIVENESSNike and Adidas have a similar price range, whereas Puma sells their products for lower prices and consequently gets a better rating.

BRAND RECOGNITIONIndividual athletes and teams in many different sports represent the three brands are all over the world. The logos are displayed on jerseys and shoes (soccer, basketball, American football, etc.) and therefore visible to every spectator.

GLOBAL EXPANSIONNike, Adidas and Puma are available across the world. Although the latter, Puma, is less widely spread than the two competitors.

CUSTOMER LOYALTYEvery brand displays a different lifestyle even though they are very similar. These lifestyles create followers, respectively fans, who stay with their brand of choice. This results in a rather high customer loyalty for all the tree companies.

PRODUCT R&D / INNOVATIONNike and Adidas recognized the potential in the combination of technology and athletic apparel fairly soon. They both offer products, which contain computer chips to measure the athlete’s performance. Nike also invests a lot in innovation concerning new performance-enhancing materials.

MARKETING CAMPAIGNSNike and Adidas invest a lot in their marketing campaigns. They both use famous athletes to promote their products and often create viral commercials.

PRODUCT DIVERSITYThe three companies offer equipment and apparel for numerous sports. While Puma focuses only on athletic and leisure apparel/ shoes, Nike and Adidas expanded their product range with digital products.

SUSTAINABLE ISSUESToday, every company should act sustainably. Nike, Adidas and Puma all have a similar plan of how to go about this subject. While Puma animates their cus-tomers to return their used gear for recycling, Nike and Adidas put more focus on improving the production process to make it more sustainable (cut energy, reduce waste, slash water use, etc.).

10

NIKE INC.INTERNAL STRENGTHS AND WEAKNESSES

. STRONG RESEARCH & DEVELOPMENT

. COMPETITIVE ORGANIZATIONAL STRUCTURE

. STRONG BRAND RECOGNITION

. SUCCESSFUL MARKETING CAMPAIGNS

. TAKE-BACK / REPLENISHMET SYSTEMS

. STRONG FINANCIAL RETURNS

. E-COMMERCE AND ONLINE COMMUNITIES

. CELEBRITY NIKE AMBASSADORS

. DEPENDENCY ON FOOTWEAR

. LOW PRICE PRESSURES FROM RETAIL SECTOR

. LABOR AND FACTORY CONDITIONS

. CONTROL OVER COMPLIANCE WITH EXTERNAL CONTRACTORS

. PRODUCTION KNOW-HOW

WEAKNESSESSTRENGTHS

Driven by innovation, Nike has a strong R&D department that enable Nike to stay on the forefront of the competitive market of sports equip-ment, footwear and apparel. Above all the brand is Nikes most valuable asset. Its strong and aggressive marketing campaigns led to a great recognition value of the brand worldwide. In the past few years Nike experienced a drastic growth and financial returns in direct to customer sales, especially the e-commerce business.

Nikes business is highly dependent on its sales in footwear, which in crisis could have a negative impact on other divisions. Critiques of Nikes offshore production have a negative impact on the overall value of the brand. This is a result of the lack of control over compliance of Nikes numerous external contractors.

11

NIKE INC.INTERNAL FACTOR EVALUATION (IFE) MATRIX

KEY EXTERNAL FACTORS WEIGHT RATING WEIGHTEDSCORE

STRENGTHS

WEAKNESSES

1. Strong research & development2. Competitive organizational structure3. Strong brand recognition 4. Successful marketing campaigns5. Take-back / replenishmet systems6. Strong financial returns 7. E-Commerce and Online Communities8. Celebrity Nike ambassadors6.

1. Dependency on footwear2. Low price pressures from retail sector3. Labor and factory conditions 4. Control over compliance with external contractors5. Production know-how

0.100.050.130.090.070.100.070.06

33433433

0.300.150.520.270.210.400.210.18

0.070.070.100.050.04

43432

0.280.210.40.150.08

TOTAL 1.0 2.52

12

NIKE INC.SWOT MATRIX

STRENGTHS

1. Strong research & development2. Competitive organizational structure3. Strong brand recognition 4. Successful marketing campaigns5. Take-back / replenishmet systems6. Strong financial returns 7. E-Commerce and Online Communities8. Celebrity Nike ambassadors

WEAKNESSES


OPPORTUNITIES


SO - STRATEGIES

1. Find new Nike ambassadors in creative industries (music, artists) and setup a marketing campaign. (S4+S8 > O1)2. Invest money to improve conditions in offshore facilities. Use marketing activites to promote corporate responsibility activities. (S4+S7 > O2)3. Add resources in R&D concerning sustain-able production methods and material develop-ment

WO - STRATEGIES

1. Implement Nike-ID technolgoies into ap-parel products. (W1 > O1+O7)2. Build up new Nike stores in China, Brasil and India. (W2, O4)

THREATS

1. Change in currency exchange rates2. High uncertainty of the network business model3. Expiration of NIKE Air patents4. Negative publicity of sponsored athletes5. Market dominated by few big players6. Changing consumer demands7. Natural disasters

ST - STRATEGIES

1. Use competitive global position to relaunch Air products before the patents epxire in form of a retro / classics marketing campaign (S4+S2 >T6)2. Further develop online communities to har-vest the data for trend spotting. (S6 > T6)

WI - STRATEGIES

1. Enforce labor policies and regulations with contractors to prevent negative publicity. (W3>T3)

13

NIKE INC.SWOT MATRIX

SO STRATEGIES

Nike is becomig increasingly popular as a lifestyle brand. With its strong marketing campaigns and by engaging new Nike ambas-sadors in creative industries (music, artists), they can strengthen their customer loyalty among non-sport customer-base. (SO Strategy 1)

Nikes healthy financial returns could be invested to improve work-ing conditions with contractors. Running marketing campaigns to promote Nikes efforts to do good will have a positive impact on Nikes brand. (SO Strategy 2)

By increasing investment in R&D for more sustainable production processes, as well as materials, Nike can pursue its corporate responsibility objectives. (SO Strategy 3)

WO STRATEGIES

Increasing popularity of Nike a a lifestlye brand is almost exclu-sively footwear. By introducing the Nike ID also for apparel, we can increase our customer also in the apparel sector. (WO Strategy 1)The demand for western brands, including Nike is growing in the emerging markets. Building stores in Brasil, India, and China could increase our revenues. (WO Strategy 2)

ST STRATEGIES

Nike Air patents are soon running out and competitors are able to exploit it. By making use of Nikes competititve global position, the Nike Air products can be relaunched with a marketing campaign to skim the market and increase presence on the market. (ST Strat-egy 1)

Consumer demands are dynamically changing and the fast fashion culture has increased the pressure on time-to-market aspects. By further develop the online communities and the strong presence in e-commerce Nike can harvest valuable qualitative data and spot new trends. ( ST Strategy 2)

WT STRATEGIES

Nike is regularly critiqued for its labor conditions in off shore facilties. By enforcing labor policies and regulations with contrac-tros Nike can increase the control in this area. (WT Strategy 1)

14

NIKE INC.BOSTON CONSULTING GROUP (BCG) MATRIX

RELATIVE MARKET SHARE POSITION

HIGH1.0

HIGH+ 20

MEDIUM0

MEDIUM0.5

LOW0.5

IND

USTR

Y S

ALE

S G

RO

WTH

LOW- 20

REVENUE*(in millions)

PROFIT*(in millions)

% PROFIT MARKET SHARE **

NIKE $ 20’862 $ 9’508 46% 7%

ADIDAS $ 17’556 $ 8’346 48% 6%

PUMA $ 3’958 $ 1’964 50% 2%

* Figures of Revenue and Profit have been taken from Nike’s, Adidas’ and Puma’s Official Annual Report 2011 and converted from Euro in to US$ **Market share - Athletic Apparel

NIKE

48%

50%

ADIDAS

QUESTION MARKSTARS

CASH COW DOG

PUMA

Nike is the company with the most revenue and the highest profit. Nike is therefore considered as star in the BCG Matrix. Even though Adidas and Puma have a similar percentage of profit, Adidas still has considerably more revenue than Puma, what makes Adidas more attractive than it’s competitor.

46%

15

NIKE INC.INTERNAL-EXTERNAL (IE) MATRIX

REVENUE*(in millions)

PROFIT*(in millions)

% PROFIT IFE SCORES** EFE SCORES**

NIKE $ 20’862 $ 9’508 46% 3.36 2.52

ADIDAS $ 17’556 $ 8’346 48% 3.17 2.75

PUMA $ 3’958 $ 1’964 50% 3.0 2.46

* Figures of Revenue and Profit have been taken from Nike’s, Adidas’ and Puma’s Official Annual Report 2011 and converted from Euro in to US$

** The IFE and EFE Scores for Adidas and Puma are based on assumptions

I II III

IV V VI

VII VIII IX

STRONG AVERAGE WEAK1.03.0 2.0

THE IFE TOTAL WEIGHTED SCORES

THE E

FE T

OTA

L W

EIG

HTE

D S

CO

RES

HIGH

MEDIUM

LOW

4.0

3.0

2.0

1.0

48%

50%

Based on the analysis of internal and external factors, the three companies Nike, Adidas and Puma are located in the fourth cell of the IE-Matrix.

The scores of the companies IFE’s and EFE’s imply that they are all following a strategy of grow and build. Since Nike is developing new products and new market as well as successfully penetrating the market, its appropriate strategy can be defined as intensive.

Like already seen in the BCG-Matrix, Nike has the highest revenue as well as the highest profit and is consequently the market leader in athletic apparel.

46%

16

NIKE INC.QUANTITATIVE STRATEGIC PLANNING MATRIX (QSPM)

WEIGHT AS ASIS IS

STRENGTHS

WEAKNESSES

1. Strong research & development2. Competitive organizational structure3. Strong brand recognition 4. Successful marketing campaigns5. Take-back / replenishmet systems6. Strong financial returns 7. E-Commerce and Online Communities8. Celebrity Nike ambassadors6.


0.100.050.130.090.070.100.070.06

4344-342

1443-4-2

0.400.150.520.36-0.300.280.12

0.100.200.520.27-0.40-0.12

0.070.070.100.050.04

--11-

1411-

--0.10.05-

0.070.280.10.05-

STRATEGY 1INTRODUCE NIKE-IDFOR APPAREL

STRATEGY 2MARKET DEVELOP-MENT IN EMERGING MARKETS

17

NIKE INC.QUANTITATIVE STRATEGIC PLANNING MATRIX (QSPM)

WEIGHT AS ASIS IS

OPPORTUNITIES

THREATS


1. Change in currency exchange rates2. High uncertainty of the network business model3. Expiration of NIKE Air patents4. Negative publicity of sponsored athletes5. Market dominated by few big players6. Changing consumer demands7. Natural disasters 1. Dependency on footwear

0.200.050.100.060.050.03

0.01

411---

2

41-433

3

0.80.050.1---

0.02

0.80.05-0.240.150.09

0.03

0.050.060.150.150.040.030.02

22--23-

331233-

--0.10.05-

0.150.180.150.30.120.09-

TOTAL 3.64 4.46

STRATEGY 1INTRODUCE NIKE-IDFOR APPAREL

STRATEGY 2MARKET DEVELOP-MENT IN EMERGING MARKETS

18

NIKE INC.RECOMMENDED STRATEGY

We have considered the strategies “Introduce Nike-ID in Apparel”and “Market Development in Emerging Markets” as the most potential strategies Nike could introduce. On one side, Nike is currently heavily de-pending on footwear. By introducing Nike-ID, Nike’s apparel could be recognized as more stylish or even become a trendsetter. On the other side, Nike could gain more reputation in being a leading company for lifestyle apparel. By building up sores in Emerging Markets, Nike could enter into a new market with a lot of potential. All are emerging markets with anticipated growth in the future. With a strong market develop-ment, Nike could position itself quickly as leading brand in sports equipment, gain a lot of new customers and strengthen their reputation at the same time.

STRATEGY 2MARKET DEVELOPMENT IN EMERGING MARKETS

19

NIKE INC.STRATEGY IMPLEMENTATIONANNUAL OBJECTIVES

. Until the end of the year, sales in India, China and Brasil should increase by 20%.

. By the end of the year, advertisement campaigns shall bring a return on marketing of 10% in India, China and Brasil . Within 3 months R&D prepares a report about socio-cultural factors, consumer behaviour / patterns in the designated markets. . Nike shall buy favourable shelf space for it’s products in the three most renowned retail stores in India, China and Brasil. . Nike shall become market leader by fiscal year 2014. Within 3 months, Nike shall engage and sign contracts with 5 major local celebrities as Nike ambassador in India, China and Brasil.


20

NIKE INC.STRATEGY IMPLEMENTATIONORGANIZATIONAL CHANGE

PRODUCTION/OPERATION

Overlying Objective: . Until the end of the year, sales in India, China and Brasil should increase by 20%. . Nike shall become marketd leader by fiscal year 2014

Functional targets:1. Set up value chain for the different markets1.2 Acquire and maintain relationship with middle men2. Set up distribution channels2.1 Build Nike stores in metropolitan areas of the designated markets

HUMAN RESOURCES

Overlying Objective:. Until the end of the year, sales in India, China and Brasil should increase by 20%. . Nike shall become marketd leader by fiscal year 2014

Functional targets:1. Hire local HR professionals to recruit retail sales staff 2. Hire cultural experts for recruiting3. Recruit lawyers to consult labor policies and work contracts4. Recruit sales staff for Nike stores5. Recruit regional marketing managers and staff (regional advertising, engage ambassadors, etc.)


21

NIKE INC.STRATEGY IMPLEMENTATIONORGANIZATIONAL CHANGE

MARKETING

Overlying Objective: . By the end of the year, advertisement campaigns shall bring a return on marketing of 10% in India, China and Brasil. Nike shall become market leader by fiscal year 2014. Nike shall buy favourable shelf space for it’s products in the three most renowned retail stores in India, China and Brasil.. Within 3 months, Nike shall engage and sign contracts with 5 major local celebrities as Nike ambassador in India, China and Brasil.

Functional targets:1. Setup a local marketing divsion and staff with regional managers.2. Launch marketing campaigns in suitable locations in the desig-nated markets.3. Find suitable high-influential retail stores - sign contracts. 4. Provide Retail Stores and Nike Stores with Marketing material (screens, media, etc.)5. Find and contract suitable ambassadors and initiate campaigns.

FINANCE/ACCOUNTING

Overlying Objective: . Until the end of the year, sales in India, China and Brasil should increase by 20%. . Nike shall become marketd leader by fiscal year 2014. By the end of the year, advertisement campaigns shall bring a return on mar-keting of 10% in India, China and Brasil

Functional targets:1. Set up a new division of F/A professionals who are familiar with lcoal lega-cys, taxes and laws for each designated market (US based). 2. Quarterly reports of the state affairs, align with stratigic objectives.3. Set up communication tools / system to regional managers. 4. Staff Managers for regional markets that report to top management.

R&D

Overlying Objective: . Within 3 months R&D prepares a report about socio-cultural factors, consumer behaviour / patterns in the designated markets.

Functional targets:1. Assemble a team for each market to conduct a case study on socio-cultural factor and consumer behaviour / patterns. 2. Report results to marketing, Finance / Account and top manage-ment

22

NIKE INC.RECOMMENDED EVALUATION AND CONTROL

MANAGEMENT

Evaluation Measuremenet:. Revision of IFE / EFE matrixes a year after shop openings. Revisions of financial data (ROI, ROIM, etc.). Revision of Strategy and taking correcting action if required

Control:. Montly meetings with functions and top management. Performance ratings management

PRODUCTION/OPERATION

Evaluation Measuremenet:. Quarterly revenue of sales. Quality control report

Control:. Value chains and distribution channels need to be ready three months before Store opening. Monthly meeting with middle men to evaluate state of affairs. Construction of Nike stores shall be finsihed a month before opening

MARKETING

Evaluation Measurement:. Quarterly report of return on marketing investments. Annual Competitive Profile Matrix for local matrix. Annaul analysis of market share development

Control:. Signed contracts with favourable retail stores within three months. Sigend contracts with ambassadors 2 months before shop openings. Launch campaigns with ambassadors 1 Month prior to campaign

HUMAN RESOURCES

Evaluation Measurement:. Quarterly review of employee turnover. Employee Satisfcation survey

Control:. Store managers need to be recruited three weeks before shop opening, Sales staff one week before shop opening.. Trainings for staff completed upon store opening. Recruit marketing staff and managers 9 months prior to store opening. . Recruit local experts (cultural, legal, etc.) 9 months prior to store opening.. Perfomance ratings of employees

FINANCE/ACCOUNTING

Evaluation Measurement:. Monthly report of revenues. Provide financial data for annual report

Control:. Monthly meetings with regional managers and top management.

R&D

Control:. Provide socio-cultural, consumer behaviour / patterns report a year befor shop opening

THANK YOU.

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