How Did Phil Knight “Just do it” “Just do it” is the three-word iconic phrase created by Phil Knight to encapsulate the Nike culture. Since its founding, Nike has sold $82.12 billion of athletic footwear and apparel, fueling athletes for generations in a swarm of sports and activities. But how do you get it? From humble beginnings selling running shoes out of his parent’s house, Phil Knight’s vision of what could be, is what made Nike what it is today. Throughout Phil Knight’s journey he should never have succeeded, but through countless hours of perseverance and determination he succeeded. But how do you get it? What determination fueled his victory? How did he persevere and adapt to his clientele through all his challenges? How did these …show more content…
This is identical to what Phil Knight dealt with in Nike/Blue Ribbon incipient stages, during which he needed to switch banks due to equity issues. First National Bank was Phil Knight’s first choice, but he faltered when it came to listening to the bank’s advice. “Growth off your balance sheet is dangerous” (p.77) is the advice the bankers gave him but despite this he continued his way and was eventually asked to move his business elsewhere in 1971. “Phil, I’m afraid First National will not be able to do business any longer with Blue Ribbon” (p.171). Phil Knight persevered with grit and determination, applying for a small line of credit from Bank of California that same year which “gave me shelter from the storm” (p.171). In 1975, Phil Knight lost Bank of California when Blue Ribbon needed to pay a Japanese Trading Company called Nissho Iwai who gave them the extra lifeline of $1 million dollars of credit to stay afloat. So, Phil Knight had to drain all his pre-existing accounts which were not enough to pay Nissho Iwai, so he additionally used his store and factory credit to pay the bank. But the bank froze his account due to suspicious …show more content…
His family sacrifice might be the biggest one on behalf of Nike. Is it worth it? I previously touched on in 1971 Phil Knight unethically stole documents from Kitami’s briefcase before he returned from the restroom, which I could not have done. During this unethical transaction, Phil Knight really contemplated whether he should open the briefcase or not. “Waiting for Kitami to return, I had the strangest thought. I recall all the times I’d volunteered with the Boy Scouts, all the times I’d sat on Eagle Scout review boards, handing out merit badges for honor and integrity. Two or three weekends a year I’d question pink-cheeked boys about their probity, their honesty, and now I was stealing documents from another man’s briefcase. I was headed down a dark path. no telling where it might lead” (p.164). In this quote you can hear how he is conveying thoughts of going against how he was raised by setting an example and being a role model towards the younger generation. Now he did not know who he was, he even sinks deeper when he admits to being