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Michael Phelps: Strategizing for Gold
Firm undertake various measures with the aim to succeed however goal directed actions a firm intends to take in its quest to gain and sustain competitive advantage defines it strategy (Rothaermael, 2013). Strategic actions by firms typically lead to the creation of superior value at competitive price resulting in widening the difference between value creation and cost. Firms which thrive at this create greater economic contribution hence establishing competitive advantage. Michael Phelps and his team most importantly Peter Carlisle Manager and longtime coach Bob Bowman set a bold goal of winning nothing less than gold medal during his Beijing Competition. At the same time Peter Carlisle foresaw the need to expose Michael Phelps to the Asian Market thereby creating a brand. Such goal required tremendous strategic planning which entails actions geared toward the realizing such goal. The accomplishment of such goals will entail a framework of analysis, formulation and implementation.
1. Michael Phelps transitioned to a global brand through the acquisition of eight gold medals in Beijing Games in China (Rothaermal, 2013). In the presence of a global audience MP was able to raise the standards of the Olympics swimming games by setting seven world records. Such feat set standards that separate one from the competition. Again through technological innovation MP was available to his followers by personal managing his social media sites such are Facebook, YouTube and swimroom.com. Such feat made MP a magnet to various business endeavors resulting in huge sums of money and endorsement deals from major corporations such as Att, Kellogg’s , Rosetta stone just to name a few.
2. In relating Michael Phelps story to strategic management, one must acknowledge strategic actions which gradually shaped him to become a global icon. Even though Michael Phelps is naturally endowed with features such as long thin torso which minimizes drag, arm span of 6 feet 7 inches, which is disproportionate to his 6 foot 4 inch height, his relatively short legs for a person of his height and his size 14 feet which work like flippers due to hypermobile ankles, they were still not sufficient in achieving the goal set by his team. In order to create competitive advantage, strategic actions which are necessary to attain set goal must be followed. In the case of Michael Phelps he needed to undergo arduous physical and mental training which prepared him to undo the feat of Mark Spitz 36 years of seven gold medals won in the 1972 Munich Olympic Games. Whiles MP was pursing his training regimes Peter Carlisle was actively orchestrating strategies aimed at propelling MP to a global icon.
3. Although brand requires commitment, time and tremendous amount of work to achieve it can easily be tarnish if proper care is not taken to uphold it. In the case of MP a photo of him published by British tabloid of him using a “bong” a device for smoking marijuana at a party in South Carolina raises some ethical concerns. As sport icon leading exemplary life which sustains or promotes good health is highly critical. Been seen with a” bong “suggests that MP indulges or encourages the use of Marijuana leading to his major sponsors pulling away from him which inadvertently affects brand MP.
4. Again this is in furtherance of the value ethical action plays in the preservation of brand values. Like Michael Phelps a similar fate befell Tiger woods when he indulged in extra marital affairs. Companies like Accenture, Gillette, Nike, PepsiCo and Electronic Arts withdrew their sponsorship as a statement of endorsement against unethical behaviors. As strategist we cannot predict what future events can bring however we can plan or strategize on how to manage or handle unexpected events by drawing up strategic plans based on what if basis. These plans should be subjected to change every time relevant information becomes available.
5. Michael Phelps and his team indeed pursued strategic making in that they first and foremost clearly defined what they wanted to achieve and orchestrated /implemented measures to achieve the set goals. Strategy is a plan to gain and sustain competitive advantage. It is about creating value by been different from a rival. Michael Phelps and his team through strategic planning improved on his natural skill of swimming. Bob Bowman implemented strategic actions through physical and mental toughness required to break record set by Mark Spitz. He was subjected to 6 hours a day of pool training. Peter Carlisle also pursed a marketing strategy aimed at exposing him to the Asian Market. He did this through Hong Kong based manufacturer of MP# and other consumer electronics. Again he visited China between 2005-2007 periods to promote Visa Friendship Lanes Tours to promote the Special Olympics. Social media especially Facebook, YouTube and swim room blogs which Michael Phelps personally maintain is also another strategic action which has helped to market him to his global fan based.
Reference
Rothaermal, Frank T Stategic management: concepts & case 2013 Pg. 6

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