Jarryd Phillips, Jermaine West, Spencer Jacoby, Othniel Hyliger, Steven Pelletier

Nike, Inc. Strategic Analysis 2009

2

HISTORY

MAJOR MILESTONES

CURRENT VISION & MISSION STATEMENTS

PROPOSED VISION & MISSION STATEMENTS

EXTERNAL ASSESSMENT

POSITIONING MAP

CPM MATRIX

OPPORTUNITIES & THREATS

EFE MATRIX

INTERNAL ASSESSMENT

ORGANIZATIONAL CHART

2009 INCOME STATEMENT

2009 BALANCE SHEET

CURRENT FINANCIAL RATIOS

FINANCIAL TRENDS STRENGTH & WEAKNESSES IFE MATRIX

STRATEGIC ASSESSMENT SWOT MATRIX SPACE MATRIX GRAND STRATEGY MATRIX BCG MATRIX IE MATRIX MATRIX ANALYSIS QSPM RECOMMENDATIONS OBJECTIVES

STRATEGIC IMPLEMENTATION PROJECTED INCOME STATEMENT PROJECTED BALANCE SHEET PROJECTED FINANCIAL RATIOS

EVALUATION BALANCED SCORECARDSOURCESQUESTIONS

3

• 1970- The Swoosh first appears on a football/soccer cleat called the Nike.• 1978- Tennis "bad boy" John McEnroe is signed by Nike to an endorsement

contract.• 1989- Nike enters the European football market• 1994 +2003- Nike wins Advertiser of the Year at the Cannes Advertising

Festival.• 1996- Nike signs Tiger Woods• 1999- Bill Bowerman, co-founder of Nike, dies on Dec. 24 at age 88.• 2002- Nike purchases Hurley International• 2003- Nike acquires once-bankrupt rival Converse for $305 million• 2004- Phil Knight steps down as CEO and President of Nike, but continues as

chairman• 2005- Nike Signs Tennis Pro Rafael Nadal.• 2006- Nike and Apple release the Nike+iPod sports kit• 2008- Nike sells its Nike Bauer hockey equipment division & purchases Umbro.

4

"To bring inspiration and innovation to every athlete in the world"

If you have a body, you are an athlete.

5

Nike co-founder Bill Bowerman

To lead in corporate citizenship through proactive programs that reflect caring for the world family of Nike, our teammates, our consumers, and those who provide services to Nike.

6

To equip every athlete with products that combine performance, quality, and fashion.

7

At Nike, we desire to deliver superior products to customers and athletes that are both safe and dependable (1, 2 and 6). Our well trained employees and experienced executives will ensure a competitive advantage for our markets, growth for the company, and profits for our shareholders (5). Our commitment to social responsibility and the communities in which we operate will ensure business relationships and alliances for the future and a perception of concern with our stakeholders (6, 8). We will continue to utilize innovation and technology to provide our employees with the best possible work environment while adapting to the many changes in the global market (3, 4, 7, and 9).

8

1. Customers2. Products or services3. Markets4. Technology. 5. Concern for survival, growth, and profitability6. Philosophy7. Self-concept8. Concern for public image 9. Concern for employees

9

10

High Performance

Low Performance

High PriceLow Price

    NIKE ADIDAS   PUMA

Critical Success factors Weights RatingWeighted

Score RatingWeighted

Score RatingWeighted

Score

  0.0 to 1.0 1 to 4   1 to 4   1 to 4  

Advertising 0.10 3 0.30 4 0.40 3 0.20Product Quality 0.08 4 0.32 3 0.24 2 0.16Price Competitiveness 0.08 2 0.16 3 0.24 1 0.08Management 0.06 3 0.18 4 0.24 2 0.12Financial Position 0.08 4 0.32 3 0.24 1 0.08Customer Loyalty 0.05 3 0.15 2 0.10 1 0.05Global Expansion 0.05 3 0.15 4 0.20 2 0.10Market Share 0.08 4 0.32 2 0.16 1 0.08Brand 0.09 4 0.36 3 0.27 1 0.09Endorsement Deals 0.10 4 0.40 3 0.30 3 0.30Portfolio Diversification 0.08 3 0.24 4 0.32 2 0.16Product Placement 0.09 3 0.27 2 0.18 1 0.09Research & Development 0.06 3 0.18 4 0.24 1 0.06Totals 1.00   3.35   3.13   1.57

11

1. Creating sportswear that would incorporate recycled materials from their own production lines and other places.

2. Promotion as a fashionable wear, not just sportswear.

3. Growing segment of the female athletes.

4. International expansion into emerging markets – e.g.. India

5. Additional marketing of existing products to appeal to new demographic groups.

6. Develop new alliances with companies that are respected regarding social responsibility.

7. Brand reorganization by market regions

12

1. High competitive industry2. Failure to respond to market trends in timely

manner could greatly affect financial position. 3. Production of counterfeit goods, and generic

products.4. Negative public perception created by

environmental, child labor, contracted manufacturing issues, and sponsored athletes.

5. International currency changes could decrease profits.

6. Federal Trade regulations in dealing with foreign manufactures.

13

14

External Opportunities      1.  Creating sportswear that would incorporate recycled materials from their own production lines and other places. 0.05 3 0.152.      Promotion as a fashionable wear, not just sportswear. 0.06 2 0.123.      Growing segment of the female athletes. 0.08 3 0.244.      International expansion into emerging markets – e.g. India 0.12 4 0.485.      Additional marketing of existing products to appeal to new demographic groups. 0.07 2 0.146.      Develop new alliances with companies that are respected regarding social responsibility. 0.06 1 0.067.      Brand reorganization by market regions 0.07 2 0.14       

External Threats      1.      High competitive industry 0.14 4 0.562.      Failure to respond to market trends in timely manner could greatly affect financial position. 0.09 4 0.363.      Production of counterfeit goods, and generic products. 0.06 2 0.124.      Negative public perception created by environmental, child labor, contracted manufacturing issues, and sponsored athletes. 0.09 3 0.275.      International currency changes could decrease profits. 0.06 2 0.126.      Federal Trade regulations in dealing with foreign manufactures. 0.05 2 0.27       Totals 1.00   3.03

15

16

Year Ended May 31

(In millions, except per share data) 2009 2008 2007

Revenues $ 19,176.10 $ 18,627.0 $ 16,325.9

Cost of sales $ 10,571.70 $ 10,239.6 $ 9,165.4

Gross margin $ 8,604.40 $ 8,387.4 $ 7,160.5

Selling and administrative expense $ 6,149.60 $ 5,953.7 $ 5,028.7

Restructuring charges (Note 16) $ 195.00 $ - $ -

Goodwill impairment (Note 4) $ 199.30 $ - $ -

Intangible and other asset impairment (Note 4) $ 202.00 $ - $ -

Interest income, net (Notes 1, 7 and 8) $ (9.50) $ (77.1) $ (67.2)

Other (income) expense, net (Notes 17 and 18) $ (88.50) $ 7.9 $ (0.9)

Income before income taxes $ 1,956.50 $ 2,502.9 $ 2,199.9

Income taxes (Note 9) $ 469.80 $ 619.5 $ 708.4

Net income $ 1,486.70 $ 1,883.4 $ 1,491.5

Basic earnings per common share (Note 12) $ 3.07 $ 3.80 $ 2.96

Diluted earnings per common share (Note 12) $ 3.03 $ 3.74 $ 2.93

Dividends declared per common share $ 0.98 $ 0.875 $ 0.71

17

18

May 31,2009 2008

(In millions)ASSETS

Current assets: Cash and equivalents $ 2,291.10 $ 2,133.90 Short-term investments $ 1,164.00 $ 642.20 Accounts receivable, net (Note 1) $ 2,883.90 $ 2,795.30 Inventories (Notes 1 and 2) $ 2,357.00 $ 2,438.40 Deferred income taxes (Note 9) $ 272.40 $ 227.20 Prepaid expenses and other current assets $ 765.60 $ 602.30 Total current assets $ 9,734.00 $ 8,839.30 Property, plant and equipment, net (Note 3) $ 1,957.70 $ 1,891.10 Identifiable intangible assets, net (Note 4) $ 467.40 $ 743.10 Goodwill (Note 4) $ 193.50 $ 448.80 Deferred income taxes and other assets (Notes 9 and 18) $ 897.00 $ 520.40 Total assets $ 13,249.60 $ 12,442.70

LIABILITIES AND SHAREHOLDERS’ EQUITYCurrent liabilities: Current portion of long-term debt (Note 8) $ 32.00 $ 6.30 Notes payable (Note 7) $ 342.90 $ 177.70 Accounts payable (Note 7) $ 1,031.90 $ 1,287.60 Accrued liabilities (Notes 5 and 18) $ 1,783.90 $ 1,761.90 Income taxes payable (Note 9) $ 86.30 $ 88.00 Total current liabilities $ 3,277.00 $ 3,321.50 Long-term debt (Note 8) $ 437.20 $ 441.10 Deferred income taxes and other liabilities (Note 9) $ 842.00 $ 854.50 Commitments and contingencies (Notes 15 and 18) $ - $ - Redeemable Preferred Stock (Note 10) $ 0.3 $ 0.3 Shareholders’ equity: Common stock at stated value (Note 11): Class A convertible — 95.3 and 96.8 shares outstanding $ 0.1 $ 0.1 Class B— 390.2 and 394.3 shares outstanding $ 2.7 $ 2.7 Capital in excess of stated value $ 2,871.40 $ 2,497.80 Accumulated other comprehensive income (Note 14) $ 367.50 $ 251.40 Retained earnings $ 5,451.40 $ 5,073.30 Total shareholders’ equity 8693.1 7825.3 Total liabilities and shareholders’ equity 13249.6 12442.7

Liquidity RatiosCurrent  2.97Quick 2.25

Leverage RatiosDebt to total assets 0.06Debt to equity 0.09Long-term debt to equity 0.05Times-interest-earned ratio 61.06

Activity RatiosFixed Assets Turnover 9.8Total Assets Turnover 1.45Inventory Turnover 8.14

Profitability Ratios

Gross profit margin  0.45Operating profit margin 0.13Net profit margin 0.08Return on assets 0.11Return on equity 0.17

Price-earnings ratio 18.83EPS 3.03

Growth Ratios 3 YearsSales Growth% 0.28226Net Income Growth% 0.06803Earnings per share Growth% -0.4261

Dividends per share Growth% -0.169519

Date Sales EBIT DEPRECIATION TOTAL NET INCOME LONG TERM DEBT

May-09 19.18 Bill 1.96 Bill 347.00 Mill 1.49 Bill 437.20 Mill

May-08 18.63 Bill 2.50 Bill 312.80 Mill 1.88 Bill 441.10 Mill

May-07 16.33 Bill 2.20 Bill 279.60 Mill 1.49 Bill 409.90 Mill

May-06 14.95 Bill 2.14 Bill 291.80 Mill 1.39 Bill 410.70 Mill

May-05 13.74 Bill 1.86 Bill 266.50 Mill 1.21 Bill 687.30 Mill

20

1. Recognized brand name – ‘Swoosh’ is ubiquitous2. Strong in research and development – innovative

product development 3. Strong marketing campaign - sponsors top

athletes. Marketing practices enables them to expand the athletic market.

4. Diverse portfolio 5. Successful advertising campaigns.6. Customer loyalty7. Strong financial position8. Strong international presence

21

1. Products are highly priced2. Revenues are still mostly dependent upon

footwear sales3. History for violations of minimum wages, child

labor and over times in its manufacturing countries.

4. Little control over quality of products from 3rd party contractors

5. Anti-globalization groups6. Price sensitivity of products

22

23

Internal Strengths      

Recognized brand name – Swoosh is ubiquitous 0.10 4 0.40Strong in research and development – innovative product development 0.07 3 0.21

Strong marketing campaign - sponsors top athletes. Marketing practices enables them to expand the athletic market 0.09 4 0.36

A very professionally competitive company 0.08 3 0.24Diverse portfolio 0.08 3 0.24Successful advertising campaigns 0.09 4 0.36Customer loyalty 0.06 3 0.18Strong financial position 0.09 4 0.36Strong international presence 0.10 4 0.4

Internal Weaknesses      Products are highly priced 0.06 2 0.12Revenues are still mostly dependent upon footwear sales 0.05 2 0.10

History for violations of minimum wages, child labor and over times in its manufacturing countries. 0.06 2 0.12Little control over quality of products from 3rd party contractors 0.05 1 0.05Anti-globalization groups 0.04 2 0.08Price sensitivity of products 0.06 2 0.12

Totals 1.00   3.10

24

25

26

Financial Strength rating is 1 (worst) to 6 (best) Ratings1 Liquidity 6.02 Leverage 6.03 Working capital 6.04 Return on assets 4.05 Return on equity 4.06 Price per earnings 6.07 Earnings per share 5.0

Industry Strength   rating is 1 (worst) to 6 (best) FS Total 37.01 Profit potential 6.02 Extent Leveraged 5.03 Economies of scale 5.04 Growth potential 5.05 Financial stability 6.06 Resource utilization 5.07 Diverse Portfolio 5.0

Environmental Stability rating is -1 (best) to -6 (worst) IS Total 37.01 Price range of competing products -2.02 Competitive pressure -2.03 Ease of exit from market -1.04 Successful and recognized advertising -1.05 Endorsement agreements -1.06 Price elasticity of demand -1.07 Risk involved in business -1.0

Competitive advantage rating is -1 (best) to -6 (worst) ES Total -9.01 Market share -1.02 Global presence -1.03 Strong investor reputation -1.04 Technological innovation -1.05 Product life cycle -2.06 Customer loyalty -1.07 Control over suppliers and distributors -3.0

CS total -10.0

ES average -1.29CA average -1.43IS average 5.29FS average 5.29

X Coordinate 3.86Y Coordinate 4.00

Strategy ->>>> Aggressive

27

Rapid Market Growth

Slow Market Growth

Weak Competitive Market

Strong Competitive Market

Quadrant II

Quadrant III

Quadrant I

Quadrant IVo Market Developmento Market Penetrationo Product Developmento Forward Integrationo Backward Integrationo Horizontal Integrationo Related Diversification

Divisions Revenue % Revenue Profits % Profits RMSP IG Rate%

(1) U.S. 6,542.9 39% 837.2 35% 1 1.20%

(2) AMEA 5,512.2 33% 877.1 37% 1 -2.20%

(3) Asia Pacific 3,322.0 20% 394.6 17% 1 2.70%

(4) Americas 1,284.7 8% 263.6 11% 1 1.20%

Total 16,661.8 100% 2,372.5 100% 28

1.0 0.9 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0 LowHigh

+25

0

+5

+15

+20

-25

-20

-15

-5

Low

IGR

Stars Question Marks

Cash Cow Dogs

(2) 37%

(1) 35%

(3) 17%(4) 11%

III

III IV

29

High 3-4

Medium 2-2.99

Low 1-1.99

Strong 3-4 Average 2-2.99 Weak 1-1.99

EFE

I F E

Alternative Strategies IE SPACE GRAND BCG CountForward Integration x x x x 4Backward Integration x x x x 4Horizontal Integration x x x x 4Market Penetration x x x x 4Market Development x x x x 4Product Development x x x x 4Related Diversification x x 2Unrelated Diversification x 1Horizontal Diversification Joint Venture Retrenchment x 1Divestiture x 1Liquidation x 1

30

31

Market Expansion Prod/Recycle/Materials Add. Sports Accessories Key factors Weight AS TAS AS TAS AS TAS

External 1 to 4 1 to 4 1 to 4 Create products from recycled materials 0.1 3 0.3 2 0.2 4 0.4Promotion as a fashionable wear, not just sportswear. 0.07 3 0.21 1 0.07 2 0.14Growing segment of the female athletes 0.08 - - - - - -International expansion into emerging markets - India 0.12 4 0.48 2 0.24 1 0.12Add. marketing of existing prod - appeal to new groups 0.1 3 0.3 2 0.2 4 0.4New alliances with co. respected for social responsibility 0.06 3 0.18 2 0.12 1 0.06Brand reorganization by market regions 0.06 4 0.24 1 0.06 2 0.12High competitive industry 0.08 4 0.32 3 0.24 2 0.16Failure to respond to market trends in timely manner 0.06 - - - - - -Negative public perception 0.06 - - - - - -Federal Trade regulations with foreign manufactures 0.08 4 0.32 3 0.32 2 0.16International currency changes could decrease profits 0.07 2 0.14 4 0.32 3 0.21Production of counterfeit goods, and generic products 0.06 3 0.18 2 0.12 1 0.06

total should be 1.0 1 Internal 1 to 4 1 to 4 1 to 4 Recognized brand name – Swoosh is ubiquitous 0.1 4 0.4 3 0.3 2 0.2Strong in research and development/innovation 0.09 4 0.36 2 0.18 3 0.27Strong marketing campaign/sponsors top athletes 0.08 2 0.16 1 0.08 3 0.24Diverse portfolio 0.09 1 0.09 3 0.27 2 0.18Successful advertising campaigns 0.07 1 0.07 2 0.14 3 0.21Customer loyalty 0.07 3 0.21 2 0.14 1 0.07Strong financial position 0.08 2 0.16 3 0.24 4 0.32Strong international presence 0.08 4 0.32 3 0.24 1 0.08Products are highly priced 0.06 1 0.06 2 0.12 3 0.18Revenues still mostly dependent upon footwear sales 0.05 3 0.15 2 0.1 1 0.05Violations for wages and child labor in manuf. countries 0.06 - - - - - -Little control over quality of prod. from 3rd party contract. 0.06 2 0.12 3 0.18 1 0.06Anti-globalization groups 0.05 - - - - - -Price sensitivity of products 0.06 3 0.18 2 0.12 1 0.06

total should be 1.0 1 04.95 4 3.75

32

• To continue being the world leader in sports equipment and apparel.

• To complete brand reorganization within market regions that will lower cost of sales.

• To create sportswear that would incorporate recycled material.

• To develop new alliances with companies who are well respected regarding social responsibility.

• To invest in additional marketing of existing products that will appeal to new demographic groups.

• To promote products as fashion wear, not just sportswear.

33

34

35

Year Ended May 31 Projected 2009 2010

(In millions, except per share data)

Revenues $ 19,176.10 $ 19,463.74 Forecasted 1.5% revenue increase.

Cost of sales $ 10,571.70 $ 10,730.28 1.5% increase.

Gross margin $ 8,604.40 $ 8,733.47

Selling and administrative expense $ 6,149.60 $ 6,351.95

3.3% increase from previous year.

Restructuring charges (Note 16) $ 195.00 $ -

Goodwill impairment (Note 4) $ 199.30 $ 50.00

Intangible and other asset impairment (Note 4) $ 202.00 $ -

Interest income, net (Notes 1, 7 and 8) $ (9.50) $ (9.50)

Other (income) expense, net (Notes 17 and 18) $ (88.50) $ (88.50)

Income before income taxes $ 1,956.50 $ 2,429.52

Income taxes (Note 9) $ 469.80 $ 583.08 Based on 24% from 2009

Net income $ 1,486.70 $ 1,846.43

Basic earnings per common share (Note 12) $ 3.07 $ 3.20

Diluted earnings per common share (Note 12) $ 3.03 $ 3.16

Dividends declared per common share $ 0.98 $ 1.00

36

Year Ended May 31, Projected2009 2010

ASSETS

Current assets:

Cash and equivalents $ 2,291.10 $ 2,163.80 Minus $161.67 in investment. Short-term investments $ 1,164.00 $ 1,164.00 Accounts receivable, net (Note 1) $ 2,883.90 $ 2,976.18 3.2% previous

Inventories (Notes 1 and 2) $ 2,357.00 $ 2,628.00 Influenced by the cricket line Deferred income taxes (Note 9) $ 272.40 $ 272.40 Prepaid expenses and other current assets $ 765.60 $ 900.00 Total current assets $ 9,734.00 $ 10,104.38

Property, plant and equipment, net (Note 3) $ 1,957.70 $ 1,972.70 Plus $15 million for three new stores.Identifiable intangible assets, net (Note 4) $ 467.40 $ 467.40 Goodwill (Note 4) $ 193.50 $ 95.00 Deferred income taxes and other assets (Notes 9 and 18) $ 897.00 $ 977.56 Total assets $ 13,249.60 $ 13,617.04

LIABILITIES AND SHAREHOLDERS’ EQUITYCurrent liabilities: Current portion of long-term debt (Note 8) $ 32.00 $ 6.90 Notes payable (Note 7) $ 342.90 $ 375.00 Accounts payable (Note 7) $ 1,031.90 $ 1,051.50 Accrued liabilities (Notes 5 and 18) $ 1,783.90 $ 1,783.90 Income taxes payable (Note 9) $ 86.30 $ 90.00 Total current liabilities $ 3,277.00 $ 3,307.30

Long-term debt (Note 8) $ 437.20 $ 405.20 Less portion of $32.0Deferred income taxes and other liabilities (Note 9) $ 842.00 $ 872.71 Commitments and contingencies (Notes 15 and 18) $ - Redeemable Preferred Stock (Note 10) $ 0.30 $ 0.30 Shareholders’ equity: Common stock at stated value (Note 11): Class A convertible — 95.3 and 96.8 shares outstanding $ 0.10 $ 0.10 Class B— 390.2 and 394.3 shares outstanding $ 2.70 $ 2.70 Capital in excess of stated value $ 2,871.40 $ 2,995.40 Accumulated other comprehensive income (Note 14) $ 367.50 $ 367.50 Retained earnings $ 5,451.40 $ 5,665.83 Total shareholders’ equity $ 8,693.10 $ 9,031.53 Total liabilities and shareholders’ equity $ 13,249.60 $ 13,617.04

2009 Projected 2010Liquidity Ratios

Current 2.97 3.06Quick 2.25 2.26Leverage RatiosDebt to total assets 0.06 0.06Debt to equity 0.09 0.09Long-term debt to equity 0.05 0.04

Times-interest-earned ratio 48.55 65.66Activity Ratios

Fixed Assets Turnover 9.8 9.87Total Assets Turnover 1.45 1.43Inventory Turnover 8.14 7.41

Profitability Ratios Gross profit margin 0.45 0.45Operating profit margin 0.1 0.12Net profit margin 0.08 0.09Return on assets 0.11 0.14Return on equity 0.17 0.20Price-earnings ratio 18.83 17.83EPS 3.03 3.20

Growth Ratios 3 Years 1 YearSales Growth% 0.28226 1.50Net Income Growth% 0.06803 24.20

Earnings per share Growth% -0.4261 4.23

Dividends per share Growth% -0.1695 2.04

37

38

39

Area of Objectives Measure Time Expectation Primary ResponsibilityCustomers      1. Customer satisfaction Customer and online surveys Quarterly Managers/ Marketing

2. Customer Loyalty Product and purchasing reviews. Memberships and number of returning and new customers.

Quarterly Marketing

3. Accessibility Open more stores in various countries. Biannually- Annually Marketing

Managers/Employees      1. Improve working conditions Increase in productivity, employee surveys. Quarterly CEO

2. Improve employee training Increase in productivity and overall operating efficiency

Quarterly Human Resources

Community/Social Responsibility      1. Business Ethics Endorse positive role model athlete`s.

Increase promotion of sports and wellness.Annually CEO

2. Environmentally Friendly Recycle materials, improve reputation and customer perspective.

Biannually CEO

3. Community involvement Run local sports camps, community/ city events- increase customer awareness.

Biannually Regional Managers

Operations/ Processes      1. Improve Brand Image Increase in sales and customer

recommendations.Quarterly CEO

2. Product Innovation Number of new stores, products and marketing

Quarterly CEO/ Marketing

3. Market Penetration Number of stores and sales in new/ other countries

Annually Marketing

Financial      1. Reduce Cost of production Decrease in production expenses. Annually CFO

2. Increase Revenue Increase in annual sales Annually CFO

• http://www.youtube.com/watch?v=4Uugz5Y7u6M

40

• http://investors.nikeinc.com/Investors/Financial-Reports-and-Filings/Annual-Reports/default.aspx

• http://investors.nikeinc.com/Theme/Nike/files/doc_financials/AnnualReports/2009/docs/Nike_2009_10-K.pdf

• http://investors.nikeinc.com/Theme/Nike/files/doc_financials/AnnualReports/2006/docs/10k.pdf

• http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=NKE:US&dataset=incomeStatement&period=A&currency=native

• http://finance.yahoo.com/q/is?s=NKE+Income+Statement&annual

• http://www.nike.com/nikeos/p/nike/en_US/?&ref

• Datamonitor.com – UMFK library sites

• http://en.wikipedia.org/wiki/List_of_most_populous_cities_in_India

• www.yahoofinance.com

• https://materials.proxyvote.com/Approved/654106/20090724/AR_44240/HTML2/default.htm

• http://en.wikipedia.org/wiki/Nike_timeline

• http://nikeinc.com/pages/history-heritage

• http://investing.money.msn.com/investments/financial-statements?symbol=NKE

• http://www.nike.com/nikeos/p/nike/en_IN/store_locator

• Strategic Management Concepts and Cases 13th Edition. Fred R. David.

41

42