Economic Theory

Every Thursday, we explore the economic ideas that shape business, markets and decision-making. Our new series, Economic Theory, Markets and Business, explains how concepts such as capitalism, socialism, inflation, interest rates, taxation, regulation and government intervention affect the real commercial environment in which organisations operate.

  • Tough Mudder and Spartan: From Obstacle-Race Rivals to a Global Endurance Platform

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    35–53 minutes

    Tough Mudder and Spartan: From Obstacle-Race Rivals to a Global Endurance Platform

    Tough Mudder and Spartan transformed obstacle racing into a global fitness industry before financial collapse, acquisition and the COVID-19 pandemic threatened their future. This extensive case study examines their origins, contrasting brand strategies, event economics, safety risks, growing DEKA portfolio and competition from HYROX, before assessing whether the combined organisation can become a sustainable global endurance platform.

  • The BBC: From Wireless Pioneer to Public-Service Media at a Crossroads

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    44–66 minutes

    The BBC: From Wireless Pioneer to Public-Service Media at a Crossroads

    From its beginnings in wireless radio to its current struggle with streaming, declining licence numbers and global media competition, the BBC has shaped British culture for more than a century. This extensive strategic case study examines its history, financial position, public-service role and the funding choices likely to determine its future after the present Royal Charter ends in 2027.

  • LEGO: The Brick That Became a Global System of Play

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    34–51 minutes

    LEGO: The Brick That Became a Global System of Play

    From a small Danish carpenter’s workshop to the world’s most powerful toy brand, LEGO has built a global business around one brilliantly simple system of play. This detailed case study examines LEGO’s history, near-collapse, remarkable turnaround, licensing strategy, adult market, digital expansion and the opportunities and risks likely to shape its future.

  • Gymshark: From Bedroom Brand to Global Fitness Challenger

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    28–42 minutes

    Gymshark: From Bedroom Brand to Global Fitness Challenger

    Gymshark is one of the most important British consumer brand stories of the last twenty years. It began in 2012 with Ben Francis, then a 19-year-old student from the Midlands, selling fitness supplements online and making gym clothing with a sewing machine and screen printer. It grew through bodybuilding culture, social media, influencer partnerships, community events, online drops and a direct-to-consumer model that allowed it to build a global brand without the traditional machinery of retail stores, wholesalers and mass advertising.

  • Magnet Group: From Yorkshire Joinery to Kitchen Retail Turnaround

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    27–41 minutes

    Magnet Group: From Yorkshire Joinery to Kitchen Retail Turnaround

    Magnet is one of the best-known names in the British kitchen market. For more than a century, it has been associated with joinery, fitted kitchens, showrooms, trade customers, design appointments, home renovation and the practical business of turning rooms into the centre of family life.

  • A.G. Barr and Irn-Bru: Scotland’s Soft Drink Champion in a Global Drinks Market

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    27–41 minutes

    A.G. Barr and Irn-Bru: Scotland’s Soft Drink Champion in a Global Drinks Market

    A.G. Barr is one of the most unusual companies in British food and drink. It is not the largest soft drinks company in the UK. It does not have the global firepower of Coca-Cola, PepsiCo, Keurig Dr Pepper or Monster. It does not have the scale of Britvic, nor the international premium mixer positioning of Fever-Tree. Yet it owns something that most larger competitors would find almost impossible to buy: a drink that has become part of a national identity. That drink is Irn-Bru.

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Evolving Horizons

Ideas for a Changing Britain

Understanding today. Preparing for tomorrow.

Evolving Horizons is an independent ideas institute exploring how politics, economics, institutions, markets and demographic change are shaping Britain’s future.

Founded by chartered accountant, business strategist and political economy commentator Andrew Smith, Evolving Horizons brings together financial analysis, strategic thinking and practical experience to examine the choices facing government, business and society.

We provide independent non-executive director and board advisory support for organisations that would benefit from experienced external input.