Hire Writer Under Armour was first conceived in by Kevin Plank, who at the time was the special teams captain for the University of Maryland football team. Plank, frustrated with having to repeatedly change his cotton shirt during practices, set out to create a shirt whose materials allowed the perspiration to dry quickly, causing the athlete to be quicker, faster, and stronger as a result of less burdensome water weight.
He made it his mission to develop a shirt using synthetic materials that handled perspiration most efficiently than was previously expected.
He developed a shirt that used said synthetic materials to handle perspiration and tested the prototype, aptly namedwith his own football team.
After he graduated, Plank went to many different universities trying to find a buyer for his product.
After some time, Plank found his big break when he managed to earn the football team of Georgia Technical University as a client.
Current Situation Currently, 3Under Armour employs roughly individuals and, in terms of revenue, they are the third largest provider of performance sports apparel in the world. They are currently only in direct competition with Nike and Adidas. This represents a growth of 22 percent to 23 percent over Under Armour is also quickly becoming well-known for its charitable contributions to the community.
They currently support the fight against breast cancer, as well as being a big supporter of the Wounded Warrior Project which helps troops wounded in combat return to normal living and various youth outreach programs in the community.
Industry Structure Being an emergent competitor within the oligopoly of the athletic apparel industry, Under Armour is forced to focus on quality and innovation so as to keep up with competition and customer demands. As shown in Figure 2 of the Appendix, a Porter Five Force Analysis makes it clear that the overall rivalry within the athletic apparel industry is medium to high.
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Because Nike and Adidas already have a substantial amount of capital resources and other assets, Under Armour struggles against them to gain market share. This makes it extremely easy for any competitor to duplicate a product or process with no consequence.
However, the threat of new entrants is not too troublesome within the industry because of the great capital cost required for branding, advertising, and meeting product demand. Furthermore, the sports apparel industry is in the maturity phase of the industry life cycle.
This means that each company included in the oligopoly must compete directly against one another for market share. And in order to avoid becoming a weaker firm and being forced to exit, Under Armour must constantly rejuvenate their product line with better quality and new innovations. Politically, Under Armour does not face many roadblocks.
Additionally, since this industry is not usually called upon during campaigns, corporate taxes remain stable meaning unlikely to change and political pressures all bear a minimum on Under Armour in both the long and short term. With interest rates low, and constant growth in the economy quarter after quarter, the economy is looking more promising for large companies such as Under Armour.
This also bodes well for Under Armour since consumer confidence is on the rise and disposable income becomes more available given the rise in employment over the last year. Next, the socio-cultural environment was examined to see what the trends are arising around the world. Although Under Armour started as a company whose mission was to serve the best gear to athletes everywhere so that they could reach their peak potential, Under Armour has made a name for themselves in the accessories industry.
Not only are people wearing Under Armour in athletic events, but in the classrooms, and even in the back woods. People of all demographics are purchasing products from the industry.
Finally, ecological and legal environments were examined.Domination of an industry by a single company that fixes prices and discourages competition; also, the company that dominates the industry by these means.
trust an economic method that had other companies assigns their stocks to the board of trust who would manage them. Captains of Industry. The Giants of US Industry took place during the early late 19th and early 20th centuries - Captains of Industry introduction.
The four giants of Industrialization were Vanderbilt, Carnegie, Morgan and Rockefeller. May 15, · The Vidanta Forum is created through the dialogue and analysis of experts and with the support The Vidanta Forum will play a vital role," said This topic will include insights.
Captain of Industry? John D.
Rockefeller was the guiding force behind the creation of the Standard Oil Company, which grew to dominate the oil industry. This company was one of the first big trusts in the United States, thus much controversy and opposition arose regarding business strategies and its organization. Some 19th-century industrialists who were called "captains of industry" overlap with those called "robber barons".
These include people such as J.P. Morgan, Andrew Carnegie, Andrew W. Mellon, and John D. Rockefeller. The term was coined by Thomas Carlyle in his book, Past and Present. Introduction. Under Armour is currently one of the leading companies in the sports apparel industry whose mission is to “Make all athletes better through passion, science, and the relentless pursuit of innovation”.1 When Under Armour first broke into the sports apparel industry it was a disruptive pioneer that initially made the two giants, Nike and Adidas, a little weary.