There should be an HBS case study documenting Nike’s fall and cultural erosion. It would make for great learning. Title it “From great to meh in 5 years”. It would be good learning from future managers on what not to do.
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Nike revenue might have increased but the stock has gone nowhere.
It’s easy to turn up the flow by selling out the brand. Look at the headlines, everyone says we’ve played out the favorites and have nothing new to sell.
There’s a reason the engines stalling now.
Nike’s revenue increased by $10B in the last 5 years. Not so ‘meh’.
I think the most infuriating part is everybody knows JD is the issue, not the only one by any means, but powerless to do anything but continue to march under his banner off the cliffs of Thermopylae. PK made some poor choices here too no doubt. How many more layoffs and mass hirings are we going to do before the culture is completely dead. At some point they need to look in a mirror, it's not remote work or excess of employees it's the lack of direction and confidence in their leadership.
Don't hire JD would #1
Its been going on for way longer than 5 years
Nike's fall started when the "Frat Bros" were started being hired, e.g., Matt Friend etc. Mark Parker didn't do a very good job and managing the matrix and that got more out of control as well.
The fact that Nike allowed fragmented processes to continue and then went on their social issues crusade is what is causing problems now and that started a lot longer than five years ago.