This business case analysis explores the theme of strategy by examining the career of Madonna, the world’s highest earning female entertainer, and one of the most business savvy women in the world . The case analysis identifies the impact that strategy can have on successful performance, and that it can be applied to both individuals as well as organizations. As we see in the example Madonna demonstrates that strategy is not about creating a detailed plan, but about establishing an overall direction that has clear goals, understands the competitive environment, appraises resources, is effectively implemented, and easily adaptable.
Synopsis of the Case From Madonna's early days in her career, she has always strived to one vision, to be the world's top female performer. Through personal drive and dedication she has been extremely succ
...essful throughout her 29 year career and is still earning extreme amounts of money. In 2010, she landed in the Forbes top 25 moneymakers earning approximately 58 million dollars this year (Forbes, 2010). This has not been done by accident, through shrewd business moves that has allowed herself to reinvent herself time and time again she has kept herself relevant in the fickle public's eye.
Her successes has allowed herself to strategically diversify herself even further allowing her to reach even more people through her film, writing, and other business opportunities, creating enormous value for herself. Her strategy might be more of one that has been made through emergence rather than design, however make no mistake she has positioned herself to succeed and meet her vision. Relevant Factual Information about the Problem or Decision the Organization Faced Madonna i
an extremely dedicated and successful business woman.
She had the drive and vision on what she wanted to become. Now she needed a strategy to get there. She identified her weaknesses and how to play them down while playing to her strengths. She also was keenly aware of the competitive business environment and understood the ebb and flows of the music industry. The biggest issue standing in her way was how to obtain her success, and then be able to maintain it instead of fading away like many other celebrities do as they get older.
Explanation of Relevant Concepts, Theories and Applications Derived from Course Materials Successful strategies are based on several common elements, such as: 1)Simple, consistent long-term goals 2)Profound understanding of the competitive environment, 3)Objective appraisal of resources, and 4)Effective implementation (Grant, 2010). As our case study shows, Madonna has had a firm grasp on these elements. Her long-term goal to be the greatest female performer is very simplistic and long term.
Her understanding of the competitive environment is exceptional, throughout the years she understood exactly the direction that music was taking. In the 1980's she understood that dance clubs and DJ's were the future and if she wanted to break into the industry she needed to start there. In the late 1980's and into the 1990's she utilized sex and seduction to keep in public's eye. By the late 2000's she understood that music was going away from the recorded format and the money to made was in live performances.
Madonna has understood throughout the years that as the industry was constantly changing that she would need to
as well to stay relevant. She has been successful at promoting her strengths, while shadowing her weaknesses. Madonna has developed her image throughout the years to be able to self promote and exploit emerging trends (Grant, 2010). Madonna's effective implementation has been due to her personal drive and dedication to her goals, even sacrificing some personal relationships throughout the process.
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