The UAE 2 and 3 Essay Example | Topics and Well Written Essays - 1250 words

The UAE 2 and 3 - Essay Example Nike Company was started by two visionary men that redefined the sportswear industry. Bill Bowerman worked as a field coach and Phil Knight was a middle distance runner at Oregon University. Phil Knight sent his footwear ideas to manufacturing companies in Japan after completing his MBA from Stanford University but his ideas were rejected. He was then associated with Tiger Shoes Company and sent free samples to his Oregon University field coach. The idea struck Bowerman and became his partner to form Nike Company (Nike Inc, 2012). The concept of CSR is the commitment of companies to act in accordance with ethical guidelines and to participate in economic development of the country to improve lives of the people. The main objective of a business is to earn economic profits, but if social objectives of the community are met then it can offer company with huge financial gains in the longer run. The companies that apply CSR must comply with norms, duties and laws of the particular society. Corporations have a duty towards a society as they have an impact on the decisions of companies. Ethical disposing of waste materials carried out by factories or strategic decisions made by a company are all counted CSR key activities (Schwartz, 2011). Nike has a strong ethical base for participating in community work and proving themselves to enhance the development of the society. Social objectives are maintained by the company to achieve them accordingly (Nike Inc, 2009). The company aims to minimize the utilization of toxic chemicals which are used as an ingredient to manufacture a product. Nike Inc has a stance that the wastes of toxic chemicals are damaging for the environment (Nike Inc, 2012). Nike support communities through innovation in their products and advocacy. The company has a target to invest more than 1.5% from the total amount of income before tax for community serving purposes (Nike Inc, 2012). Nike believes that corporate