Question

In: Operations Management

Describe the strategic approach used to produce a manage the innovation: Internal corporate venturing, cooperative strategies,and/or...

Describe the strategic approach used to produce a manage the innovation:
Internal corporate venturing, cooperative strategies,and/or acquisitions for the “Under Armour company”.

Solutions

Expert Solution

Under Armour is a highly successful company in the manufacture of high-performing, moisture-wicking athletic apparel. The success to the company is due to its strategic approaches, namely:

1. Managing the innovation- Under Armour has put innovation over image. At every point in the supply chain, the company has been innovative. It constantly looks out for any problems and tries to resolve them ASAP. It uses innovative fabrics and designs that help the athletics to overcome the discomforts and improve upon their performance. Innovation is the heart of their advertisements to improve their image. For example- Michael Phelps states in an advertisement as “Rule Yourself” stating how the company produces high-quality athletic clothing worn in the games and aligns themselves with the athletes rather than just focus on marketing.

2. Internal corporate venturing- is a strategic initiative by Under Armour wherein it reflects the new businesses for the parent company. ICV is nurtured within the parent’s existing organizational structure. The company is the leading manufacturer and marketer of branded performance athletic apparel and accessories. The company’s new ICV is the Connected Fitness which is the community platform specially designed for the world’s largest wealth and fitness community and they are all connected digitally.

3. Cooperative strategies- strategic partnerships is one of the cooperative strategies adopted by Under Armour. The company has announced Auburn University Athletic is the most preferred supplier contractor and has similar deals with Texas Tech and University of Maryland.  

4. Acquisition- The acquisitions of MapMyFitness, EndoMondo, and MyFitnessPal has made Under Armout as the largest digital health and fitness community in the world.


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