Apple has announced that it is launching the iWatch in October on or about the same time it launches the iPhone 6. Over the weekend, Apple quietly announced that they have hired a TAG Heuer executive to become head of sales. What an interesting lesson in strategic learning. TAG Heuer is part of the luxury goods company LVMH which owns such iconic brands as Louis Vuitton, Moet Hennessey, Fendi, and Dom Pérignon.
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It was not a typical day for me. For one, I woke up in my own bed for the fifth consecutive day in a row – the first time I have done this since last January. Second, I was thrilled to know that I had a morning meeting with my friend, colleague, and our Chief Simulation Officer, Eric Pressey, to finalize the design of an exciting new business simulation. Besides being the smartest person I know (I first met him in September of 1979 when we were both freshmen at the University of Pennsylvania), Eric is also an incredible foodie and we can spend hours talking about our favorite meals past, present, and future. And third, I was really excited to brainstorm with our summer interns on new ideas for the blogs we publish on a weekly basis.
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Can Under Armour's Product Leadership Strategy Recover afterthe Speed Skating Suit Disaster?
You are Under Armour. Your business strategy is Product Leadership. Your tagline is “To Make All Athletes Better.” You spend hundreds of millions of dollars in research and development to overtake the powerhouse brands: Nike, Adidas, and Reebok. You invest in marketing with celebrity endorsements and product placement to become a player in your market. You are selected to provide the ultimate world-class elite athletes – the US Olympic team – with the performance apparel they will wear as they compete for gold. A success on this stage could quickly skyrocket you to the top of the industry.
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The sentence hung in the air of the board room of the executive leadership team trying to evolve their business strategy.
"Well, we are getting beat on innovation by two competitors, our customer service scores are the lowest in the industry, and our cost structures and operational effectiveness metrics are also the worst in the industry. In order for us to stay out of bankruptcy, we've got to slash prices, cut costs, and hope that our competitors make some sort of mistake.
