Planning Function:

Nike, like any other business, requires some form of planning to stay on track with what has been planned. Initially, there is financial planning that also involves this same budgetary allocation decisions for all the programs getting conducted within the company. Also we know for a fact that Sponsorship is a part of financial planning because money is required each year to support the teams and individual players sponsored by this company. It also includes setting and monitoring the Nike Company's financial spending to audit any misuse of funds. At this point, benefits, pay, and salary are also considered.

The policy formulation division of the company is another area that requires strategy. This is critical because as a profit$-$making company which we know Nike is doing pretty well then its strategies must be correctly implemented to counter marketing issues such as competition from companies that manufacture the same product, such as Reebok and Adidas, and the production of counterfeit products, which harms the company's reputation. Local policy development, creation, and execution are inextricably linked to policy planning. Human resource planning is critical for getting the most out of personnel. Nike must plan its recruitment, employment, evaluation, and training, and maintain the calibre of its staff to ensure that skilled individuals are employed in the office.

Organising Function:

Organising Function in my opinion is the process by which the internal structure of a firm is established. It mainly focuses on activity division, coordination, and job control inside the firm. General company procedures require very solid kinds of skills on the part of leaders and managers. For example, at Nike, management is in charge of conducting yearly general meetings that bring all stakeholders together. When an issue develops, they also hold daily and monthly meetings inside the respective affiliate factories. A successful meeting is the outcome of a proper meeting organisation or how a project will be carried out.

Leading Function:

Leadership is also defined as the ability to direct individuals to perform a task by influencing their behavior through incentives and motivation, teamwork, individual dynamics, and discipline. The primary goal of leadership is to direct all employees' behavior toward achieving the goals. Here leadership is critical in developing and sustaining a strong organizational culture inside both Company A and B$.$ Leading does not always come from those in positions of authority, but from anyone who provides information and suggestions on how to proceed. Nike's decision$-$making responsibilities fall on the shoulders of the company's managers and leaders, who typically take risks anytime an issue that needs to be addressed emerges.

Controlling Function:

Controlling is a step$-$by$-$step procedure that involves setting performance criteria that are in line with the goals and objectives. It is concerned with the evaluation, tracking, and analysis of the company's actual performance level, as well as recommending the appropriate steps that need to be implemented to correct any misunderstandings. For a corporation to achieve its full potential, properly implemented control mechanisms must be in place. Leaders and managers at Nike have authority over almost every aspect of the company's production, marketing, and sales sectors$.$ Specific supervisors are stationed in the factory to make sure that design rules are followed while the goods are being produced.

Conclusion

Managers and executives at Nike have a responsibility to sell more. Nike as a company has followed everything when it comes to POLC. They have introduced good tactics to influence the market and we can say that it has reached its height of success.

There are external stakeholders and Internal stakeholders which require the financial statements for their different purposes. Internal stakeholders are Directors and Managers, Employees and Shareholders. External stakeholders are the Government, Suppliers, Creditors, Consumers, and the public.

Director and Managers: Income statements helps Directors and Managers of a company to make decisions like new investment, to pay dividends or not, discontinuation of an unprofitable product, etc. Balance sheet is used by directors and managers to find the net worth of company, to ensure the company's soundness and accounting ratios are used by managers to ascertain the risk of company with help of liquidity ratio and debt$-$equity ratio. Liquidity ratio tells the liquidity position of company and debt equity ratio determine capital structure of company. Cash flow statement is used to know that the company will be able to meet its cash needs.

Shareholders: Income statements tells the shareholders that their investment is providing them fair return or not, they can compare the profitability and soundness of the company with other competitors, whether to sold the stocks or buy more o