Madonna Business Case Analysis
Madonna Business Case Analysis
This particular business case analysis will explore the tactic Madonna’s career took to maintain her place in entertainment industry. Madonna is not only the highest earning female entertainer known worldwide, but she has shown to be a tremendous business woman. The case analysis identifies the impact that strategy can be for businesses of individuals as well as organizations. Madonna’s life shows that strategy does not relate in simply creating a detailed plan, but formulating clear goals, recognizing competitive environment, which is affectively implemented and can be easily adjusted.
Synopsis of the Case
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It has been difficult to predict where Madonna will move next, but also the avenue that promotes her fan’s interest in her. Madonna still thrives as one of the world’s most leading entertainers of all time. Her status has not been defined by her work, but her success is based on her name and persona not just accomplishments.
Explanation of Relevant Concepts, Theories and Applications Derived from Course Materials
Madonna has experienced great accomplishments in her career due to her capabilities and competence to innovation and flexibility to reinvent herself. This strategy makes it difficult for the public to predict Madonna’s next steps. Her behavior is often surprising, or can even become shocking adapting into a new image even while being successful in her last one. She one of the few artists that can maintain a presence in the youth dominated charts, despite being in her fifties (Staff Writer, 1992). Anderson and Kupp article, Strategy on the Dance Floor (2007) reports that part of Madonna’s success has been her vision throughout the ages. His reports disclose that she has not only put together “ten studio albums, multiple world tours, and a dozen or so movie roles” (p3). Vision is a very important aspect for an entertainer or organizations success.
Madonna’s business success is also evident through the development of her own operating entertainment companies (Anderson, Kupp.2007). She is the owner of Boy Toy Inc. (publishing), Siren films, and Slutco Inc (video), and in 1992 she developed the recording and management company Maverick Inc., which is in collaboration with Warner Brothers Records (Anderson, Kupp. 2007). Through Madonna’s plan development she has been able to clearly identify her competencies and weaknesses. One of Madonna’s competencies was her realization that her voice and dancing skills were simply not strong enough to succeed. Therefore, very early in her career she started networking to compensate her faults.
Furthermore, Madonna’s successful career demonstrates that her fortune is a product of her ability to implement strategy and measures and not just a product of any music industry. For instance, Madonna’s record company decided to sell the first ever video of “Justify My Love” in 1990 as first ever single. This video in turn sold, 400,000 copies, and the company sold over one million copies worldwide (Staff writer, 1992).