Under Armour Strategic Management
Running head: UNDER ARMOURGroup Project – Under ArmourStrategic ManagementMission Statement The mission of Under Armour is “to make all athletes better through passion, design, and the relentless pursuit of innovation” (Mission & values, 2015). Kevin Plank, CEO Under Armour, believes that mission of Under Armour’s products is to be more than just visually appealing, that they also have to perform as good if not better than the product looks (Mills, 2013). Under Armour is a well-known brand to athletes, second to Nike, that continues to grow and meet the needs of its customers by designing the most technologically advanced apparel. Their product lines are focused on meeting the needs of customers by staying true to their core values and designing products that are reliable and highly innovative.Vision Statement Under Armour’s vision is very much the same today as it was in 1996 when Kevin Plank brought Under Armour to life in his grandmother’s basement. It started with one great idea, which created a domino effect leading to the company it is today. Kevin’s vision for Under Armour was to create the greatest apparel for athletes all over the country. Under Armour continues to create great products, but Kevin now has a long-term vision in place to expand his products beyond just men’s apparel; he wants to equalize Under Armour by creating the same great products for women and penetrating into international markets.
Company Background/Information Under Armour started as an idea from a former University of Maryland football player. It all began when that football player, Kevin Plank, thought about the fact that football players constantly change their sweat soaked t-shirts in-between practices throughout the day, and thought there had to be better solution. So, after extensive research on different fabrics, mainly synthetics, in 1996 Kevin devised that solution and named it “Under Armour.” Under Armour was a t-shirt made of a moisture – wicking performance lightweight material that would keep players dry and cool during the extreme heat. Kevin worked in his grandmothers basement in the Georgetown area of Washington, D.C. on his Under Armour project. He traveled the east coast selling his products from the trunk of his car. At the end of his first year in 1996, he had a total of $17,000 in sales from his first line of t-shirts. By 1997, Kevin designed another piece of apparel that would keep players dry and warm in cold weather. The AllSeasonGear, which is to keep players warm and cool during those in-between seasons, and that too was completed in 1997(Ubiz.com, 2016). By the beginning of the next year in 1998, the small business grew to a scale that required it owns space, so Kevin moved his Under Armour Company to a warehouse in the Baltimore area.