Term Paper on "Business Articles in Comparing and Contrasting Three"

Term Paper 5 pages (1275 words) Sources: 1

[EXCERPT] . . . .

Business Articles

In comparing and contrasting three articles from this course, I chose three that go to the crux of the business development cycle. Business in general, is a process of evolution and constant adaptations. Great ideas can become mundane and ordinary in just a few short years if not carefully nurtured. Companies that fail to recognize this can only survive when the market is "hot" and slowly lose traction when the "hot zones" shift to other sectors. Three articles that we have read "Sometimes You Get It, Sometimes You Don't," "Adidas Enters a Three Legged Race," and "Getting Into the Groove at Hard Rock Cafe" all touch upon this common theme, therefore I will perform my compare and contrast on these three articles.

The essential similarity between these three stories is that it teaches the lesson of evolutionary business. All business is transient, this implies that technology and company branding can never be "revolutionary" or "original" forever, and therefore companies must constantly re-strategize their product in order to stay competitive in the long run. These three articles all explain the same concept. For Adidas, the problem is that while it is the second largest sports apparel and Shoe Company in the world, its lackluster branding in the past has allowed it to carefully slip within key markets. Whereas Nike and Reebok were successful in recognizing how to brand themselves in popular sports in the United States, Adidas did not take full advantage of that market and now they have a marginal percentage of the U.S. shoe market. In this article, their three pronged strategy is to divide their company's focus to streamline the production cycle and therefore individually attack key markets that they have limited penetration in. By doing this, they can re-position themselves within the domestic market and attempt to re-define themselves to sell to a greater target base. What CEO Hainer has done is re-evaluated his company's overall strategy, realized that with changing times requires a different strategy to target consumers. As a result, this three divisional split was made with the intention of refocusing their brand and thus revitalize their sales. In effect, evolution pushed Adidas to change their marketing and production strategy in order to keep up with competition. Similarly, Hard Rock Cafe went through the evolutionary process. Although it is the premier powerhouse within the themed restraint and hotel industry, Hard Rock could not bank on its traditional branding and entertainment techniques to continue to win over its customers. This is because as time goes on, the attraction that their classical style had lost its luster with the younger generations. Therefore, they are trying to re-brand themselves within the digital age to appeal to a greater number of audiences and attract new fans. Just like Adidas, they must evolve in its business strategy in order to adjust to the greater changes within the market. The final article "Sometimes You Get It, Sometimes You Don't" nicely sums up the lesson that the above articles subtly dictated by providing a plethora of examples of how this was true. Its explanation of the internet search engine boom and the audacity of many of its CEOs show that those CEOs who lacked the vision to constantly change their business practice and model were eventually thrown out of their jobs. The lesson that all three of these articles exhibited is that without a solid vision and understanding of the society and times that a business operates in, long-term success is impossible. Therefore it is important for businesses to structure themselves for evolutionary change and to constantly revitalize themselves with the advent of new cultural changes and technology changes.

Despites these similarities, the business approach for these articles are significantly different. The Adidas article for instance highlights the importance of division and decentralization within companies.… READ MORE

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