By now, everyone involved or just slightly interested in the music business knows that
Madonna is a hardworking, disciplined, and successful businesswoman. She got to New York
in 1977, at age 19, with only $35 in her pocket, and 31 years later, in 2008, her “Sticky &
Sweet” tour brings in $230 million in revenue, making her the biggest moneymaker in the
music industry, according to Billboard Magazine. Madonna didn’t become who she is today
by simply being lucky. When she started off, she had a vision (long-term goals), a deep
knowledge and understanding of the music industry (the competitive environment), she
knew exactly how to exploit her strengths and how to protect her weaknesses (objective
appraisal of resources), and she knew how to effectively implement her strategy and
respond to changes in the music industry.