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Under Armour

Transcript: Under Armour Under Armour was founded by Kevin Plank in the 1990's. Today it is one of the leading manufacturers of sports performance apparel. The company offers top of the line merchandise from under shirts for maximum comfort against sweat to high quality sports footwear. The company has become one of the fastest rising companies in the world. The Epiphany Kevin Plank was the youngest of five brothers. He went from leaving his preparatory school due to bad grades to graduating from St. Johns College High School and then going on ti Fork Union Military Academy. Kevin Plank then went on to go to the University of Maryland and played football, He was the special teams captain. While playing for the University of Maryland Terrapins he got the idea of starting Under Armour. The Idea Kevin Plank became the self proclaimed “sweatiest guy on the football field”. At the time Cottons still dominated the apparel market and gave him that slowed down lethargic feeling. The sporting goods world didn't yet know it, but Plank was steadily working out a solution that would deliver them from the dark ages of moisture-soaked workout gear. Plank become one of those insomniacs, staring at his bedroom ceiling, kept up at night by the big question in his case, how he could come up with a more practical fabric. The Come Up Entrepreneurship An entrepreneur is a risk taker in the private enterprise system, a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business. Kevin Plank did this to start Under Armour he went from selling his merchandise from his grandmother’s basement to having a multi-million dollar company where he can now run his business from a top of the line office. He took risks like spending his own money to build prototypes and sell his innovative under shirts. Thus Kevin Plank began testing out different fabrics in a local tailor shop. He came up with seven prototypes and spent five hundred dollars. After deciding which one he wanted to use Kevin Plank started spreading the word around to his teammates that the material would soak up the sweat allowing him to play at a more faster and light pace. His teammates liked his product and started using it in games and as his teammates and friends turned into NFL pros the word got out to players and staff in the pros. Then he started receiving calls from players like Frank Wycheck and from staff like the Atlanta Falcons equipment manager. The Atlanta Falcons equipment manager bought Kevin Plank’s shirts and the Falcons players used them in a game between the Atlanta Falcons and the New York Giants. There, the equipment guy for the Falcons was a mentor to the equipment guy at the Giants and he liked Kevin Plank’s merchandise. Word kept spreading around the pros and before Plank knew it his cash cow was growing by the minute. Under Armour was becoming a sensation with players from the pros to the NCAA where even the Maryland Terrapins wanted to drop Nike and go with their alumni’s work. Plank's merchandise expanded from there. Who is Under Armour? Beginnings

Under Armour

Transcript: How does Under Armour train its employees? UA 101 Learn History Warehouse Training Meet Kevin Plank How do employees move up the ladder? Upper-level positions achieved by promotion from entry-level positions. Managerial positions accessible after 5-7 years External vs. Internal Motivation Financial Bonuses tied to revenue Revenue goals categorized: low/target/high All bonuses tied to one another Team Mentality Workplace Environment "Up or Out" Progressive funneling Performance reviews Retains only top talent Must prove worth -Once per week, usually on Sundays -Lasted approximately one hour -Meetings held at various locations Brand Lindsay Dhujadi, Intern Under Armour's Mission TO MAKE ALL ATHLETES BETTER THROUGH PASSION, DESIGN AND THE RELENTLESS PURSUIT OF INNOVATION. Under Armour -Set agenda each week -Set tasks for each person for the week -Discussed upcoming due dates -Took minutes, rotated scribe duty Communication Group Meetings Motivation Information Sharing: Under Armour wants to select employees who bring different knowledge and perspectives to the table (asymmetric information) Business Development Our Process External 2000-2003 1996 Goal Setting Theory: Purposeful goals motivate and direct actions Company Structure Board of Directors (10) Under Armour is "an organizational culture that fosters success. It is adaptable, promotes employee involvement, includes a clear vision, and is consistent.” Human Resources E-Commerce Career Development Nelson, Debra L., and James C. Quick. Organizational Behavior: Foundations, Realities, and Challenges. Mason, OH: Thomson/South-Western, 2003. Print. Very selective Passion Quick-thinking Charisma Determination Diverse backgrounds Proficiency in social media -No predetermined roles -Some members stepped up to more of a leadership role than others at certain times Strengths Founder & CEO of UA Alumnus of UMD Team Captain of UMD Football Team (1995) #3 America's Most Powerful CEOs under 40(Forbes) Net Worth= $1.35 Billion -Relied heavily on e-mail and Google Docs -Daily communication -Set meeting time & location at least one day in advance -Everyone contributed Selection Herzberg’s Two-Factor Theory: Two factors, which perform very different motivational functions. Focus on young people Most employees are under 30 Prefer to hire from internship program Recruits Rookies Full-time Company Values Motivation Theories By Chelsea Donenfeld, Amina El Abed, Phillip Briggs, Nathan Cuklanz, Bryan Galey, & Zach Feuer Specialization: The degree to which tasks are subdivided into separate jobs (Increases efficiency) U.S. Sales Employee Empowerment All employees (even interns) given huge amounts of responsibility Relatively small business, so each employee has greater influence on performance of the company Employee's effort is directly tied to individual performance and performance of entire company SMART Goal Principles: 1. Specific 2. Measurable 3. Attainable 4. Relevant 5. Time-Bound Great motivation leads to... Lower employee turnover Higher customer loyalty Higher productivity Higher profitability Kevin Planks develops the micro-fiber T Shirt and founds Under Armour. Footwear What does UA look for? Weaknesses Kevin Plank Kevin Wright, College Recruiting Coordinator " - Under Armour, Inc. - Brand Mission." - Under Armour, Inc. - Brand Mission. N.p., n.d. Web. 03 Dec. 2012. <>. Under Armour utilizes Transformational Leadership to develop its employees: Individualized Consideration: 1. Understand others’ unique skills, capabilities, and developmental needs 2. Make each person feel valued to develop higher levels of his/her potential Retail OB Consulting - Under Armour COO Company History CFO Key Goals •High quality products • Low production costs • Successful advertising • Brand recognition •Reasonably priced items •Well-trained employees •Known for customer service Career Development Theories 1997-1999 Named Apparel Supplier of the year 2001 and received Victor Award for the best New Product Launch. First television commercial: We must protect this house !(2003) UA develops a line of "performance apparel" specifically designed to match different needs. UA's Take-off through providing apparel for Warner Bros. Movies UA outfitted numerous National Sports teams in various fields Team Communication is key to creating a positive and successful work environment. Sources: Roles "Humble and Hungry" Motivators: Intrinsic to the job; directly promote satisfaction & performance *Higher level needs* 1. Achievement 2. Recognition 3. Work Itself 4. Responsibility 5. Advancement 6. Growth Innovative culture Financial stability Management style Brand Loyalty Efficient R&D team Competitive advantage CEO (Kevin Plank) Today Internal Key Determinants of Motivation: Rewards and punishments Rewards should: 1. Be contingent on performance 2. Make high performers look forward to being rewarded again in the future Company's Strengths and

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