Business Description And Growth Strategies - 1000 Words

Business Description Growth Strategies: DICK’S Sporting Goods, an American sporting goods retailer, was founded in 1948 by a young but up-and-coming 18-year-old Dick Stack. Upon being rejected from presenting his new idea by the owner of the Army surplus store he worked at, Dick received a $300 loan from his grandmother and blossomed that investment into much of the product line you examine today when visiting a DICK’S sporting goods location. As of today, Ed Stack, Dick’s son, is the current CEO and Chairman of the company. In addition to Ed, he and his siblings have purchased the store from their father and are responsible for the drastic expansion from just two stores to a comprehensive chain of over 600 store locations. Behind†¦show more content†¦A few of the largest institutions that hold the most shares include Vanguard Group Inc., T. Rowe Price Associates, Inc., and BlackRock Fund Advisors (About US Pg. 1). With the majority ownership mostly bei ng institutions, it will be interesting to see how their shareholder structure can potentially impact their corporate structure. Lastly, looking into DICK’S corporate governance, it was previously stated that the board contains 9 members. Furthermore, there are a total of 23 executives within the company, ranging from positions such as CEO, to independent directors. With many executives responsible for numerous activities, it can be concluded that the executives control the strategic goals/matters of the company. Industry Overview and Competitive Positioning: The sporting good retailer industry mainly sells sporting goods and equipment, such as bicycles, exercise gear, apparel, footwear, and numerous types of additions. The sporting goods division for the past few years has performed fairly well due to the strong demand for health-conscious individuals. Within the sector, there are a sizable number of small companies, as well as several large companies, that contribute to the total industry revenue. Porter’s Model, a framework that analyzes the level of competition within an industry, utilizes five forces (Bargaining Power of Suppliers, Threat of Substitutions, IndustryShow MoreRelatedvison, mission and objectives for yum brands1633 Words   |  7 Pagesbrands business strategy. With the hospitality market becoming increasingly competitive, it’s important that as a business has a business’s strategy set. The main aims normally revolve around making lots of profits, growing and expanding, and most importantly, being different from others. These goals must be achieved for business success in any tough market industry. To accomplish the aim, I will be writing a report with concise analysis of the organization’s history, development and growth. 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The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better. The profile contains critical company information including Business description A detailed description of the companys operations and business divisions. Corporate strategy Analysts summarization of the companys business strategy. SWOT Analysis A detailed analysis of the companys strengths, weakness, opportunitiesRead MoreBusiness Plan For A Business1223 Words   |  5 Pagesstarting your own business is to prepare a business plan. A business plan is a written document describing your business future. It tells potential investors and customers what your goals are for the company and how you plan to achieve that. You will need to define your business, products and services, operating procedures and the route your company intends to take to achieve the goals that are set forth. 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