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1. Innovation is key: The creation of the waffle-sole running shoe and Nike Air revolutionized the athletic shoe industry. Entrepreneurs should strive for innovative products that can disrupt the market.
2. Expect and learn from failures: The Tailwind shoe was a disaster, but it likely provided valuable lessons. Entrepreneurs should be prepared for failures and use them as learning opportunities.
3. Be aware of ethical considerations: Nike faced controversy over alleged use of sweatshops. Entrepreneurs should ensure their operations are ethically sound to avoid damaging their reputation.
Asked on the following book summary:
The iconic Nike sporting goods company started over 50 years ago as a ‘crazy idea’ in the mind of a young runner in Oregon. Shoe Dog is Phil Knight’s...
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The inventions of two of Nike's iconic products—the waffle-sole running shoe and Nike Air—came from unexpected sources and went on to revolutionize the world of athletic shoes. There were disasters, too, like the much-hyped Tailwind shoe that literally tore itself to shreds. And there was controversy, particularly the allegations over the use of sweatshops in Asia.
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