Question
Nike's balanced scorecard aligns with its corporate responsibility by evaluating contract manufacturers based on health and safety, environmental, and labor-management standards. This approach holds Nike accountable for its business practices and encourages better performance from its partners. Those meeting Nike's goals can expect increased, higher-margin business and industry recognition.
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As a part of the initiative, Nike implemented a strategy approach, which means that contract manufacturers are being evaluated based on health and safety, as well as environmental and labor-management standards. Although Nike reviews its unique balanced scorecard criteria monthly, the company Director of Global Apparel and Corporate Responsibility, Mike McBreen, admits that the most challenging part of the process is establishing the performance measures. "We are communicating the set of measures by which we hold ourselves accountable," McBreen said. And in one of his corporate responsibility newsletters, McBreen wrote that business partners meeting Nike's goals will witness increased, higher-margin business and industry recognition for better performance.
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