Business Strategies Of Under Armour Company †MyAssignmenthelp.com

Question: Discuss about the Business Strategies Of Under Armour Company. Answer: The study will discuss about the strategies followed by Under Armour Company. It will discuss on the relevant factor that how the company is working and what ethics are they following. Under Armour is a footwear, sportswear and casual apparel manufacturer. Kevin Plank founded the company in the year 1996 (Nafziger, 2013). Executive plan for enabling the chosen strategy: The company had a sudden downfall in the market. They decided to restructure the strategy and planning of the company. The first step that they took was to terminate 2% of the company workforce. The product offerings were increased for women and children; they offered more lifestyle products than performance products, increasing the customer channels. The biggest and strongest strategy that they followed was to look for the technical improvement of the company. Being an sportswear company they concentrated on the technical development that had a significant effect on their creation strategy. The introduced apps for tracking health, fitness, nutrition. However, their disruption was not correct and hence they did not find success in the plan. They have started to focus on the shoes and is producing women products more than men. They are increasing the stretch of their market. They are taking up partnership to increase the sale and that is expected to be equivalent to Nikes sale ratio i n the market. The initial focus of the company was to increase the floor space dedicated to the company to the stores. They focused to design and fund the company including flooring, meeting in-store issues, product displays, lighting with in the stores. They approached a shop in shop strategy helped them to find a position in the market. Their way of marketing increased the store numbers, educated the consumers about the products and producing a easy way for consumers to shop the product. The company stressed not only on the retails shops for selling their products but also for creating the brand awareness among the retailers and customers. The company kept a different team to maintain the issues faced by the retailers, this was the reason to create awareness among the customers and retailers. They tried to prove that they maintained a different merchandized strategy for the company. The company initiated advertisement and promotion to increase their sale in the market. The followed national, digital broadcasting and print media systems to advertise in the market. They also used social media and mobile media to reach the customers. They used athlete personality to campaign their products and frequently used new technique to reach the customers. The company used these strategies to implement its name in the market. The company used various skills and ideas to make a name in the market. They tried to follow uncommon trends and strategies to create the brand awareness and thus have succeeded in the market. The company comes after Adidas and Nike in the sports market. This proves the companys strategy has succeeded in the apparel market. Internal operating system of the company: The company believes in a simple structuredmanagement system with the CEO at the top of the pyramid. A committee is formed to evaluate the board to make sure whether they are giving their best to t he company or not. A director is elected for overseeing the meetings. The director and the company has an open communication system to maintain flexibility and clarity in the work field. The company has never followed the conventional styles. They have competed with Nike, Reebok and has handled challenges in a complicated company in a different way. The company targets to modernize the industry, they are introducing new technologies for making efficient products and develop new and attractive designs to attract the customers. The main strategy and aim of the company is to provide a dry wear to the sportsperson. The company tried to maintain a well-framed system to manage the systems. They kept special teams to fix the issues in the retails and branded the product to the customers. The company was dedicated to the production and followed a well-developedmanagement team. The company introduced a connected fitness system that was used to track the fitness, health and nutrition value. This app became popular and soon the company saw a turning point in their income scale. The trend was highly influencing the customers and there was a high demand for the apparel along with the sportswear and fitness offerings. The company still aspires to reach higher goals and leading the brands that are already leading in this industry. The company is setting further goals to achieve their target and meet the customer demand. Corporate culture The company believed that if audience see the brand worn by the athletes it would create a demand for the brand in the market. They believed showing off or hi-lighting the product or brand to the customers would increase the market demand for the product. This would create an on field authenticity for the brand and advertise the product at the same time. They were the official outfitter of the sportsperson in Boston college, north western university, US naval academy, University of Indiana and many other college and universities. They are targeting to become a global brand by creating global awareness about the brand and introduce themselves to the international market. They aspire to become the sportswear brand of different nation and become a successful brand. The company targets to create an innovation creation in the companymanagement system. They renamed the employees as team mates to increase the motivation power in them. The transformed from decentralized strategy to HR based strategy. They recruited employees by scrutinizing their value and capacity to increase the market value of the company. The company scaled a high collaborative process at the top of the company. This process helped them to remove disparate system with successful workforce. They targeted for success factors like performance goals, compensation, development, management, recruiting and management. They maintained a well-framed management system. The new comers can upload their resume in the system, they provide facility to large requirements. The HR has been repositioned as the business partner. The recruitment factor has helped the company to reach a new height. The technology has helped to create a bond and making the system accessible. The HR system identifies process and integrations as well as service level agreements. The HR is able to identify the present and future value of the business. The company tries to maintain a clear bond and understanding among the workers and create a work friendly environment. The company is recruiting new comers based on their quality and capability that will give a better future to the company. The company is hiring efficient HR who will play a vital role to guide the employees and motivate them to work hard. The company is targeting for a better future, thus it is making all the necessary changes to create a productive environment. CSR The company claims themselves to be socially responsible as they hire visible minorities. They claim themselves to be open minded and try to help the socially and financially weaker sections. They also adopt the rule and policy of the country or state they are trading. They try to adjust with the environment of the place they are transacting business. They make sure to support provide to the society by giving charity to the society. They believe by doing these social works they will create a brand name among the customers. They make sure they are not hiring under aged staffs and makes sure they are providing proper salary to the workers. The company tries to maintain ethical relations with their partners. They try to make partnership with people who have a strong ethic value and responsibility. The company tends to create parks and shopping zones to create brand awareness to the consumers. They tend to make residential areas, parks for the people who can afford them. This will create the brand awareness and raise the brand name in the market. The company provides opportunities to the youth by providing job offers to the weaker sections, however, they recruit according to the candidates quality and capability. The company has few branches in the third world countries like Asian countries. It is often complained from there that the work place and the factories are not clean and there is dirt. The pollution level has increased the quantity of dirt. This company must take measures on this issue. The plays a vital role for the environment as it gives charity and donations to the weaker section of the society. The company tries to create the brand awareness among the society by doing all kind of social works. Is the company a winner? Yes, the company is a winner as the company has improved their skills and worked on the drawbacks to create a demand in the market. The company that had faced a downfall in the market has improved its condition and has become the second popular brand in America. The company does not follow the trend of imitating the market strategy of the rival companies instead it focuses to drive the sale to a higher standard for the company. The company is setting goals for others as it is recognized for the hard working and dedication it showed for the company betterment. The company is less recognized for the brand name and product, instead it is more popular for the achievements it has received within the past few years. The company has changed its position from a weaker and diminishing company to a competitive brand in the international market. The company created its demand by introducing the digital system, which is an innovative and creative process to attract the customers. The company is dedicated to the employees and tend to create a work friendly environment that has improved the production scale of the company. The company has marketed the products with celebrities, which has attracted customers in a vast range. The company has been listed among the world-class athlete wear companies. It is giving tough competition to brands like Adidas and Nike. The company strategies must have worked else it would not been possible for the company to achieve this success. The company that has been out listed from the top listed market is now looking forward for a better career competing with companies like Nike. The company is trying to set goals for themselves and are not satisfy with their success. They are aiming for higher goals and targeting for better scopes in future. Thus, it can be concluded that a company like Under Armour with a diminishing market demand has worked hard on their strategies and has helped the company to reach its goal. The company has been listed among the top three companies in athletes wear. It is giving a strong competition to brands like Nike. The company strategies have surely made the company a winner, other wise it would not have been possible for a company to create such a position in the market. The company has struggled with work motivation, innovation and creativity and thus have made a brand name in the market. The company is yet to flourish further in future and improve the standard further from the present situation. The company is targeting to reach further and it is expected that it will achieve its target if it continues the strategic plans and it implementation in the similar way. References: Ahearne, M., Lam, S. K., Kraus, F. (2014). Performance impact of middle managers' adaptive strategy implementation: The role of social capital.Strategic Management Journal,35(1), 68-87. Guiso, L., Sapienza, P., Zingales, L. (2015). The value of corporate culture.Journal of Financial Economics,117(1), 60-76.Speculand, R. (2014). Bridging the strategy implementation skills gap.Strategic direction,30(1), 29-30. Guiso, L., Sapienza, P., Zingales, L. (2015). The value of corporate culture.Journal of Financial Economics,117(1), 60-76. Stryker, S. (2014).Comparing athletic performance, stability and comfort in athletes wearing the Under Armour Blur Cleat in different conditions. University of Delaware. Nafziger, D. (2013). The Chief Performance Officer in Education. Solutions. Issue No. 3.Building State Capacity and Productivity Center.