How a Major Sporting Goods Firm Can Maintain Its Competitiveness

Executive Summary
The vision, mission and value statements of the company. The vision statement of the Country Joe’s Sporting Goods and More, Inc. (hereinafter alternatively “the company”) is broadly “THE GREAT OUTDOORS … PASS IT ON!” (emphasis in the original) (Our mission, 2017, para. 2). The corresponding formal mission statement of the company is “to be the leading merchant of outdoor recreational products inspiring people to love, enjoy, and conserve the great outdoors” (Our mission, 2017, para. 2). Finally, although the company does not publish a formal value statement, some indication of the company’s values can be discerned from the CEO’s longstanding commitment to environment and wildlife conservation initiatives. For instance, the company’s Web site proudly boasts, “In conservation circles [the company’s founder and CEO] is often referred to as a modern-day Teddy Roosevelt for his leadership, personal commitment and dedication to conservation efforts” (para. 1).
In truth, the company has followed through on this commitment in a number of meaningful ways, including initiatives designed to promote sportspersons’ rights, outdoor programs for disadvantaged inner-city children, and a number of ongoing wildlife and habitat conservation programs that span North America (One of American’s foremost conservation leaders, 2017, para. 2). In addition, the company also offers a grant program for conservation-related causes (Our mission, 2017).
The execution of the business strategy. As noted previously, this business strategy is comprised of two parts which will be executed simultaneously as follows:
Part one: Develop and implement a transition program to groom a replacement for the current CEO.
Part two: Create a marketing division focusing on female-oriented sporting goods and services.
Summary of the business strategy. As also noted previously, by ensuring a smooth transition in the company’s top leadership position, the strategic plan will help to ensure that the company remains competitive and profitable. Likewise, by creating a marketing division that is focused on female-oriented goods and services, the company can significantly expand its current market share.
Discussion of the company’s vision, mission and values statement. Notwithstanding the lack of a formal values statement, the company’s Web site and promotional literature are replete with references to the CEO’s environmental values which are communicated throughout the organization and to all stakeholders, including the company’s numerous supply chain partners.
Justification for the analytical tools used in develop the business strategy
Although financial and marketing analysts have a wide array of analytical tools available, one of the most useful tools is a strengths, weaknesses, opportunities and threats or “SWOT” analysis (Cravens, 2000). A well-conducted SWOT analysis can provide a number of valuable outcomes, including the following:
· Facilitates understanding a business better;
· Helps to address weaknesses;
· Serves to deter threats;
· Can capitalize on opportunities;
· Take advantage of strengths; and,
· Develop business goals and strategies for achieving them (Benefits of SWOT analysis, 2017).
A SWOT analysis of Country Joe’s Sporting Goods and More, Inc. is provided in Table 1 below.
SWOT analysis
A previously developed strengths, weaknesses, opportunities and threats (SWOT) analysis for the company is provided in Table 1 below.
Table 1
SWOT Analysis of Bass Pro Shops
Factor
Description
Strengths
The company’s main strength is its well-established brand and current overwhelming dominant leadership position in the sporting goods and attire industry. The company also has a mature decentralized distribution network throughout North America and sophisticated supply chain management practices with its downstream partners.
Weaknesses
The company’s current geographic concentrations of its retail stores (see Figure 1 below) limit the company’s ability to provide its high value-added services as well as the walk-in traffic that drives its megastore format success. In addition, the company’s remains highly vulnerable to major disruptions in its leadership due to the advanced age of its current CEO who has not announced any plans for retirement.
Opportunities
Although the company dominates the North American market, it has significant opportunities available by expanding its operations to Europe, Mexico, and South America. In addition, the company also enjoys a significant opportunity to increase its target market by developing and marketing female-oriented sporting goods and attire. While the company does currently feature some products that are geared towards female consumers, many of its other sporting goods (i.e., archery, camping and firearms) have remained targeted at its traditional male-oriented market.
Threats
Although some of the company’s products (i.e., firearms) remain best sellers irrespective of downturns in the economy, many of the company’s thousands of other products and services such as its bass boats are largely discretionary and luxury purchases that decline with downturns in the economy. There have also been some changes in consumer preferences in sporting goods and attire that have not been match by corresponding marketing efforts by the company, including significant declines in boating, bowling and camping (-12.0%) (Sport Participation Trends, 2011).
Figure 1. Current company locations
Plan for maintaining competitive advantage
The two-part business strategy outlined above is directly aligned with maintaining the company’s current leadership position in the sporting goods and attire sector by ensuring a smooth transition of the CEO position and developing a new market for sports-minded female consumers in its current markets. As noted in the SWOT analysis presented in Table 1 above, the company currently competes only in the North American marketplace with a limited presence in Canada; however, the company also has significant opportunities available by expanding its operations to Europe, Mexico, and South America. Expanding the company’s operations overseas would have some significant implications, though, and these issues are discussed further below.
Implications of competing in international markets
The company has achieved and sustained a competitive advantage in its North American market by appealing to the traditional “woodspersons” and sportspersons as well as consumers interested in themed attire in the sporting tradition. Although consumers in Europe, Mexico and South America also enjoy hunting and fishing, many of these jurisdictions limit or prohibit firearms altogether. Given that a significant portion of the company’s product lines are comprised of high-end (and therefore high profit) firearms, identifying optimal new locations in these venues represents a challenging enterprise.
In addition, the American outdoorsy-themed megastores, including the company’s flagship store that draws more tourists that any other attraction in Missouri, may not translate well into Asian, Mexican and European settings. Therefore, careful and thorough marketing analyses will be needed to ensure that the company’s investments in its overseas initiatives provide the expected or greater returns.
Diversification strategy that should be considered
Besides the female-oriented marketing division that is part of the proposed business strategy, another diversification strategy that is aligned with the company’s mission, vision and values would be to target older consumers who are interested in healthy physical fitness activities by sponsoring community-based seminars, field trips and other activities designed for older sports-minded individuals. Given the fact that older North Americans represent the fastest-growing demographic segment, this diversification strategy is especially timely.
Ethical considerations concerning the diversification strategy
Any community-based activities that involve physical exertion on the part of older consumers carries a very real risk of causing injuries, and even a minor insult to frail older bodies can have life-threatening implications. Consequently, this diversification strategy requires careful review by legal staff to ensure that adequate precautions are taken, waivers of liability are secured if appropriate and all elderly consumers who want to take part must be advised of any potential harm that could result from their participation in such activities.
Planned execution of the business strategy
As previously reported, a proposed timeline for the execution of the plan is set forth in Table 2 below, together with proposed beginning and ending dates.
Table 2
Implementation timeline for strategic change initiatives
Stage
Phase one: initiation
Phase two: planning
Phase three: execution
Phase four: closure
Stage one: CEO transition
1-1-18/1-31-18
2-1-18/2-28-18
3-1-18/5-31-18
6-1-18/6-1/21
Stage two: Female-oriented marketing division
1-1-18/1-31-18
2-1-18/4-3-18
5-1-18/7-31-18
Indeterminate
Using cost-benefit and return on investment analyses to evaluate effective of the business strategy
No business strategy is complete without some strategy for evaluating its effectiveness in achieving the desired outcomes in quantifiable ways. Therefore, a cost-benefit analysis can help the company focus its efforts where they will do the most good and a return on investment analysis can help evaluate the effectiveness of the proposed two-part business strategy as well as any overseas initiatives.
Conclusion
The future is bright for the company provided it does not rest on its past laurels and takes aggressive steps today to address the need for a smooth transition in Country Joe’s Sporting Goods and More, Inc.’s top leadership position and to expand its market beyond its current target of North American males by included a line of female-oriented sporting goods and attire products and services. Time is of the essence, however, in implementing both of these business strategy elements, most especially the transition plan for the CEO. The current CEO has a lifetime of knowledge and expertise (including numerous national angling championships) that are an invaluable resource for the company, and this tacit knowledge should be documented and shared with a qualified replacement candidate as soon as possible and for as long as possible.

References
About us. (2017). Country Joe’s Sporting Goods and More, Inc.. Retrieved from http://www.countryjoe.com/shop/en/about-us.
Company overview. (2017). Bloomberg. Retrieved from https://www.bloomberg.com/research/ stocks/private/.
Cravens, David W. (2000) Strategic marketing (6th ed.). New York: Irwin McGraw-Hill.
One of American’s foremost conservation leaders. (2017). Country Joe’s Sporting Goods and More, Inc. Retrieved from http://www.countryjoe.com/shop/en/about-us.
Our mission. (2017). Country Joe’s Sporting Goods and More, Inc. Retrieved from http://conservation.countryjoe.com/Page/Our-Mission.aspx.
Sport participation trends. (2011, October). The Journal of Physical Education, Recreation & Dance, 82(8), 3.