The publicly traded company I had chosen at the beginning of the class was Under Armour, a sports clothing and equipment store. With the NCAA basketball tournament coming up, Under Armour has news to celebrate. While Nike still dominates the apparel provided to the teams of the tournament, Under Armour just moved into 2nd place just ahead of Adidas. Nike will be outfitting 47 teams, and Under Armour will have 11 teams. (Sharrow, 2018) Adidas will have the rest of the 68 teams. Under Armour is still in growing stages compared to Nike and Adidas and this is a very good sign moving forward. The exposure alone at the tournament should boost sales and help in popularity among the public. Under Armour has some of the tops ranked schools in the tournament
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“Collecting and evaluating information on competitors is essential for successful strategy formulation,” (David & David, 2017). While Nike is much more popular and has been around a lot longer, Under Armour is on the rise. They need to look at the bargaining power of consumers as well as potential development of substitute products. Under Armour needs to find out why schools have chosen certain companies over them and find out what exactly the school is looking for in the future. The biggest way to motivate managers and employees alike is to keep communication open and take in all ideas to get over competitive humps. Employee and manager feedback will be very important in order to eventually pass Nike in the market. “Let your employees know that you're aware of their efforts, which will drive them to achieve through intrinsic motivation, which is scientifically proven to provide more sustainable drive than a bonus," (Rampton). In order pass Nike in the market, employees will need to be engaged and ready to make a
“Collecting and evaluating information on competitors is essential for successful strategy formulation,” (David & David, 2017). While Nike is much more popular and has been around a lot longer, Under Armour is on the rise. They need to look at the bargaining power of consumers as well as potential development of substitute products. Under Armour needs to find out why schools have chosen certain companies over them and find out what exactly the school is looking for in the future. The biggest way to motivate managers and employees alike is to keep communication open and take in all ideas to get over competitive humps. Employee and manager feedback will be very important in order to eventually pass Nike in the market. “Let your employees know that you're aware of their efforts, which will drive them to achieve through intrinsic motivation, which is scientifically proven to provide more sustainable drive than a bonus," (Rampton). In order pass Nike in the market, employees will need to be engaged and ready to make a