Madonna Business Case Analysis 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
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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
Strategy is a set of complicated tactics formulated by the executives of a company directed towards the achievement of company’s goal (Salmela, 2002). It is about all the path ways that a company would follow to reach its ultimate goal. It is a company’s strategy which helps to identify what it does better than the other companies in the industries, which may be different from what it does best. For successful strategy formulation and implementation, a company should know the needs of customers and should have knowledge of its competitors. Through a good strategy a company would identify that opportunity which makes it different from the others (Thompson, 2005).
Please answer the questions posed at the end of each case study in essay form. Each essay will be judged on your capacity to present strong, logical discussions that support your conclusions.
The love of movement and connecting that she had two songs of another icon, Mariah Carey, she was eventually
Madonna’s main objective was to set an outstanding image for herself. She always makes her music a number 1 priority. Her personality demonstrates a vision of her music, we can see how the music can play. Nothing, only does her personality represent her music, but it’s a gateway to her actions. Madonna started
The first plan of action would be to implement better management. Although Jane would like to keep the business within the family, it is obvious this is not going to happen with his bad management style. Jane needs to hire new management that will be able to run the company efficiently. What is Strategy, written by Michael E. Porter, explains the importance of good leadership. He explains that to have a good strategy the organization must have good leadership in order to make the difficult choices. Porter insists that the challenge of developing or reestablishing a clear strategy is often primarily an organizational one and depends on leadership. Strong leaders willing to make choices are essential in an
Many artist nowadays fight for the title of who is truly the queen b of music. Artists from Cher to Tina Turner who were both very big names in the 1980s. Now that music has evolved and different types of genres have become mainstream females in the music industry fight for the crown of being the most successful artist in the industry. Names like Rihanna, Lana Del Rey, and Taylor Swift have all gained so much popularity in the last few years but two of the female artist who have truly outdone themselves in the past decade were Lady Gaga and Beyoncé. Both have had such successful careers in a short period of time and both have really gained so much popularity. In the
Transition: That is all great but she wouldn’t be able to have such a positive impact if not for her enormously successful music career, so Finally, the most important aspect, her influence on the music industry.
Strategy formulation has been acknowledged as one of the most crucial factors of ensuring the long-term growth of the business. However, the manner in which strategy is formulated, and most importantly, the nature of the strategy chosen for the company determines its future position in the marketplace (Grant, 2005).
For most organizations that goal is profit and financial gain. In order to achieve this goal there are steps that need to be taken. The lack of these steps often result in a chaotic atmosphere. In an effort to avoid such an atmosphere the Walton Art Center appointed Anita Scism as the President of the organization and challenged her with the responsibility of reviewing the company’s mission statement and attaining the goal of the company. There was an exercise for the company and its members that included a 2-day retreat. In order to prepare for the company event and meet the challenge that was received she needed to employ strategic planning. Strategic planning is used to explore approaches that managers and business owners can use in order to construct resilient organizations. Anita used strategic planning in order to consider different options for moving the company into the future and revamping the mission statement of her predecessor Bill Mitchell. The finances of the company had improved and she found herself in the position of having to reduce the staff for budget reasons. She showed her commitment to the company and others by doing any and every job that needed to be done despite her title or position. This was a really good way to rid the atmosphere of negativity. . A way to remove the negative thinking is the four D’s of strategic planning. The four D’s are Destiny, Design, Discovery and Dream. These are envisioned to take organizations away from negative thinking and into thoughts of strength, aptitudes and opportunities. Anita should look for tasks and games that incorporate the four D’s for the retreat and the reformulation of the mission
The stage is dark. Thousands of screaming fans wait in agonizing anticipation. Smoke crawls out from the stage, and out struts a confident blonde woman. With the spotlight focused entirely on her, the crowd erupts into deafening applause as she begins her incomparable dance routines. She is an icon. She is Madonna. History has never seen a cultural figure with as much controversy or flair for the dramatic as Madonna, nor will history ever see such a figure. Madonna’s name is recognized by everyone, as is evidenced in a survey taken of fifty people of varying ages (shown below). These facts alone are enough to engrave her name in pop culture history, but the making of an icon does not stop there. Madonna is the quintessential
In order for a business or corporation to grow and expand at a calculated pace, they must be able to strategize the proper business plan to get there. A strategy is a set of analytic techniques for understanding and influencing the firm 's position in the marketplace (Raimundo, 2001). Having a business
An organisation’s strategy plays an important role of providing direction of where company wants to be and how best to allocate the company’s resources to meet its objectives. The formulation of business strategies has evolved over the years and has been made more difficult in recent by the uncertain operating environments and global financial crises.
Strategy can be defined as being different from one’s competitors, finding the race to operate and accomplished it. According to Michael Porter (1996), while becoming better at what you do is desirable, it will not benefit you in the long run because it is something other competitors can also do. Strategies for organizations are originally developed by Michael E. Porter in 1979 by introducing the five forces model. A company can identify the industry profitability and attractiveness by analyzing the five forces of Porter (Johnson et al., 2008). And then a reasonable strategy can be set up in line with the strengths and the weakness of an organization is able to create a plan for a stronger position for the organization within its
Madonna was born on August 16, 1958, in the city of Bay City, located in
“...it should be remembered that the gendered character of the music industry… and music generally both reflects and serves to constitute the gendered character of wider social and cultural realities.” William A. Hamlen Jr. writes in his article, “Superstardom in Popular Music: Empirical Evidence”, about the music industry market. Hamlen’s article expresses how the music industry is male dominated because the “lack of female role models” allows for masculine culture to continue. Thus, male domination in the music industry creates a space that is difficult for women to enter. Female singers navigating through this male dominated space may have to compromise the brand, image, and music they would like to create for their own self. Succumbing to the gendered expectations that come from a male dominated industry allows for males to make executive decisions on the way women are portrayed to consumers. This paper will briefly share the mechanism that the music industry employs to produce and brand popular twenty-first century female singers. Worldwide success and recognition are attained by the perpetuation of look alike, sound alike female artists’ (and music) due to the music industry’s hesitation to invest in brand new talent and break away from societal expectations.