Nike Inc.: The History Of Nike

Nike was founded in 1964 as Blue Ribbon Sports and initially operated as a distributor for the Japanese shoemaker Onitsuka Tiger (now known as Asics). It officially became Nike Inc. in 1971.The company was founded with just $1,200 in the bank. It was created by Bill Bowerman — a track-and-field coach — and Phil Knight, a middle-distance runner from Portland who was enrolled in the University of Oregon.

Knight had originally wanted to call the company "Dimension 6." The Nike name comes from the Greek goddess of victory, and it’s pronounced "ny'-kee." Nike's first employee, Jeff Johnson, came up with the name.

The first Nike shoes were made inside a waffle iron. Bowerman’s first eureka moment for footwear innovation came in 1971, when he and

To this end, Nike published its findings on factory conditions as they were available, as well as recalling products that may pose a health hazard to consumers.

The company's success in these areas since it endorsed the principles has been recognized by various groups. For example, Fortune Magazine ranked Nike number one in the apparel industry on its annual list of 'America's Most Admired Companies'. Similarly, the Far Eastern Economic Review (FEER) has ranked Nike among its top-ten best multinational corporations in Asia for corporate leadership and issue-specific leadership. The Review noted that in the previous year, Nike had improved in almost every category.

Beyond the CERES principles, Nike has recently been investigating options for improving its energy efficiency. By certifying all of its new buildings in Oregon with 'Earth Advantage', Nike has been able to save more than two million kilowatt-hours and over 2,000 therms of natural gas. This has translated into a total saving of $100,000 for the company.

Nike's plans for the future