Dick's Sporting Goods Case Study

1220 Words3 Pages
bulb-icon

Recommended: Small business entrepreneurship case study

The company I chose to do my report on for Small Business Management is Dick’s Sporting Goods. You may say to yourself “Why Dick’s Sporting Goods?” As with most large companies we see today, most have come from humble beginnings. It is hard to imagine sometimes in today’s faced paced and technologically advanced era. Especially, if you can remember the dot com era. Companies were springing up left and right. Some with potential to take off like a rocket, while others seemed to have crashed and burned. Usually, when those of my era (generation x) thinks of a large company and well to do rich families, names such as the Rockefellers and Carnegies come to mind. These families started from just about nothing to become considered the one This is when, Dick’s son (Edward) step up and join the business, in 1977. (Dick 's Sporting Goods, Inc. History, n.d.) According to the Dick’s Sporting Goods website, Edward was not alone in taking over the business, but his siblings also joined the company and bought the store from their father and expanding to over 500 stores. (About Us, n.d.) According to Forbes “The Worlds Billionaires”, Edward Stack is worth $1.35 billion, is the Chief Executive Officer (CEO) of Dick’s Sporting, and the largest shareholder of Dick’s Sporting Goods. (The World 's Billionaires, 2016) Edward Stack as the largest shareholder gives him seniority when it comes to votes within the company and shareholders meetings. When Edward and his siblings took over the business, Edward was a certified public accountant. Under the direction of Edward Stack, Dick’s Sporting Goods has grown considerably fast. Contributing to this growth and success was the business model that was This in turn generated more volume in sales. The other innovative thing that was implemented, was creating more than one stream of income for the company. Dick’s sporting Goods created their own private labels of sporting gear, apparel and equipment, and this was offered in the store as well as name brands like Nike and Under Armour. The store setup consisted of mini stores under one umbrella. The hunting section was its own entity, with individual specialist for that genre, as well as golfing specialist in its own mini store. Another plus in the cap of Dick’s Sporting Goods was the ability to test equipment before you purchased it, and having professionals to assist you and adjust your tailor your equipment to fit the individual customer (i.e The Golf Pro Shop, and Archery

Show More
Related

  • Motivation At Dick's Sporting Goods

    607 Words  | 2 Pages

    I believe that Dick's Sporting Goods, for the most part, follows through on their vision and mission based on the information I provided above. The company works hard towards leaving a lasting impact in the sporting communities. Dick's also "serves & inspires athletes and outdoor enthusiasts to achieve their personal best into everything they do" (About Us, n.d.). Although Dick's does seem to provide top brands at their store, I would try and come up with strategies to push some of their private brands to become a top 'must have' brand. There are multiple ways the consumer market can acquire the top brands that Dick's has stocked in their stores. Having their own popular brand of clothes could disrupt the

    Read More

  • Muller vs. Oregon

    1291 Words  | 3 Pages

    The time of the Industrial Revolution allowed little room for smaller companies to make a name because the big businesses had monopolies over certain areas of industry. Therefore, for a person to make a name for himself, he had to do so with ambition, money, reputation, and inner strength. By reason of an owner not possessing these qualities, then by the rigors of business owning he would be mentally crushed by the amount of work that falls upon the owner's shoulders. In addition, even though labor came cheaply to t...

    Read More

  • callaway golf co.

    610 Words  | 2 Pages

    In 1982, Ely Reeves Callaway had bought his small wedge and putter golf business and called it Hickory Stick USA and created clubs that were enjoyable for the average golfer. He called these clubs the Demonstrably Superior and Pleasingly Different (DSPD) clubs. This was a code he had always lived by. The family of Ely Callaway are not involved with the company today because he was told to choose his successor, and had chose Ron Draqpeau. He is a man who only shared the same vision and thought of golf, but also had the skills as a leader to continue his wonderful golf company. The goal was to make a good product and tell the truth about the game. In those days Ely would provide them to his customers personally in the back of his Cadillac. He made sales calls and talked to pros, amateurs, and those who came to be known as an average golfer. Finally, Hickory Stick USA came to be knows as Callaway Hickory Stick U.S.A, and not too long after that, Callaway Golf.

    Read More

  • The Financial Evolution of Dollar General Corporation

    929 Words  | 2 Pages

    On April 4, 2008 Goldman, Sachs & Co. submitted a prepared prospectus for Dollar General Corporation. According to the prospectus, Dollar General is the largest discount retailer in the United States by number of stores. They serve a broad customer base and majority of products are priced at $10 or less and approximately 30% of products are price at $1 or less. They believe that their combination of value and convenience is what has kept them ahead of their competitors since opening in 1955. Dollar General has had substantial growth in recent years, growing their number of stores from 5,540 as of February 1, 2002 to 8,229 as of February 2, 2007. This growth encouraged Richard Dreiling,

    Read More

  • Bass Pro Shops Business Analysis

    1266 Words  | 3 Pages

    Bass Pro shop started as an 8-foot-long display area in the back of a liquor store in 1971 and has expanded into a Fortune 500 company that employs over 8,800 employees and has annual sales estimating somewhere around $1.25 billion today. The question at hand is: should Bass Pro Shops continue to expand, and if so at what rate should they? The primary problems they might face when expanding are as follows. Could expansion hurt their brand image and if so how? The Competition outside of Missouri is going to be much greater. They will not have the publicity and brand recognition as they do in Missouri. Does Bass Pro have the financial resources in order to open new stores, if not then what are some options they can exercise? Will Negative publicity threaten their brand image as they continue to grow? Is the cost of overhead going to be too high initially for Bass Pro to expand at a fast rate, if so then at what rate should they expand yearly? These are all problems Bass Pro is going to have to face in the future. Through research and extensive problem solving, they will be able to make an accurate decision on rather they should expand.

    Read More

  • General Electric Corporation: Case Analysis: General Electric Corporation

    1501 Words  | 4 Pages

    General Electric Corporation is a multi-billion dollar conglomerate founded in 1892. The company was founded in Schenectady, New York to capitalize on the patents of Thomas Edison and the use of electric power through generation and distribution. Now a blue chip publicly traded company that has branched out beyond its core into arenas such as aircraft engineering, television, and home appliances to name a few. Over the years the corporation has been through different management models that have brought innovation in many forms that have allowed them to be envied by companies around the world. Despite great success since its conception, like many companies who can withstand the test of times, it’s natural for them to become self-absorbed, which can have a negative impact on the company structure as a whole. Coming across someone like Jack Welch who can think out of the box and in a manner that doesn’t strain the resources of the company but expands the thinking of the company as a collective unit is needed to continue the legacy of innovation in all aspects of business.

    Read More

  • Leveraged Buyout Essay

    1754 Words  | 4 Pages

    The economy is always changing, and new ideas continue to be created, tested, and integrated into the financial world. Before World War II, wealthy families owned most companies and businesses. The families, or select wealthy individuals, dominated the economy and the rest of the population had little to no involvement in it. Takeovers, or buyouts of other companies were done in small scales, because the families lacked the funding to takeover larger companies. However, after the War the opportunities to participate in the economy slowly expanded. As the American communities began to recover, the economy slowly began to prosper once again. People began to invest more in companies, and buy shares in larger corporations, which allowed them to have some control over the management’s decisions. The old notion that companies were mostly family owned began to fade out; the owners were growing old and wanted to “avoid estate taxes and retain family control”. This left two options for them: either to make their family corporation in an initial public offering (IPO), or to have a larger company takeover. Neither of these options allowed the family to maintain complete control over their business. When Henry Kravis, Jerome Kohlberg, and George Roberts, began their careers in economics, they slowly began to utilize their own ideas and strategies, and eventually formed their own company. They reintroduced something called the leveraged buyout (LBO), a practice sparsely utilized by investors in the 1950’s, which later became the most popular form of takeover during the time. This buyout became the “third option” for the previously family owned companies to continue owning the business, but there were many other aspects included. These three...

    Read More

  • Financing the Enterprise: Nike

    1342 Words  | 3 Pages

    Financing and accounting is a major part of any business without proper financing it will kill your business having good accounting, is crucial to all businesses. Nike has financed their ideas from the beginning with almost nothing. Oregon natives Phil Knight and Bill Bowerman took an idea and five hundred dollars and an idea became the biggest shoemaker ever. They have athletic footwear, apparel, and accessories for a variety of sports and fitness activities. Nikes subsidiaries are Converse, which designs, markets, distributes athletic lifestyle footwear, apparel and accessories also Hurley International LLC, which designs, markets, and distribute surf and youth lifestyle footwear, and apparel. The accounting used then were just them two and this idea today they bring in enough cash flow to finance all of their ideas and internally they have their own accounting department that controls and takes care of their financials.

    Read More

  • Nike Company Analysis

    1521 Words  | 4 Pages

    It was only in 1972 when the relationship between BRS and Onitsuka Co. started falling apart that the company decided to make their first big decision – starting their own brand, Nike, selling shoes with Bowerman’s design ideas.

    Read More

  • Dollar Shave Club Case Study

    860 Words  | 2 Pages

    Dollar Shave Club (DSC) is a subscription-based direct-to-consumer business that has been a distributor of razors and cosmetic shaving products since its launch in mid-2011. The company operates minimalistically by offering three primary subscriptions of razor blades, with the option to purchase add-ons, every month. The three different levels of membership operate on tiers of quality - a simple two blade $4 option The Humble Twin, a popular four blade $6 option The 4X, and the premium six blade $9 option The Executive. Each subscription includes a compatible handle and arrives in a small cardboard box at the member’s location on a monthly or bi-monthly basis ("Dollar Shave Club.").

    Read More

  • Nike Vs. Wal-Mart: Case Study

    334 Words  | 1 Pages

    For this research paper, we were tasked with an assignment to review the case involving Nike's patent suit against Wal-Mart. My objective is to identify if Nike has a good claim and determine what Wal-Mart's defense should be. In a complaint filed in U.S. District Court of Northern Illinois, Nike claims that Wal-Mart "knowingly and intentionally" sold shoes that violated two of their patents (Renfroe).

    Read More

  • Sears Case Study

    1043 Words  | 3 Pages

    Poor organizational management, failure to innovate and adapt to the environment, and an outdated brand image have all contributed to Sears massive decline. By not setting a clear organizational strategy, executives of Sears strayed away from innovation, allowing for competitors to attract Sears loyal customers to their organization. In addition, the outdated brand image of Sears has failed to meet the ever changing customers of today’s society. Overall, there are many reasons that have led to the downfall of a once powerful retail giant.

    Read More

  • Walmart Case Study

    1199 Words  | 3 Pages

    In the United States and all over the world, the entry and operations of big retailers like Wal-Mart into a small town sparks great controversy within the community. The fact that people contemplate on the fact that the policies and actions of Wal-Mart are destructive to a small town’s economy is not new. Most small town’s economies are run by subsistence and self-reliant traders. With time, the traders embrace the division of labor and specialization of skills in accordance with the trade, production and manufacturing needs of the community. In such a market, a simple move like a decision by the producers to sell directly to the consumers may spark

    Read More

  • Rite Aid Case Study

    802 Words  | 2 Pages

    In 1958, Alex Grass incorporated Rack Rite Distributors, Inc. Grass opened Rite Aid’s first store, through Rack Rite, in 1962, as a Thrift D Discount Center, in Scranton, Pennsylvania. 1963, Thrift D Discount Center became a drugstore chain when they opened five more stores. In 1965, the Thrift D Discount Center expanded to five northeastern states by quickly acquiring and opening new stores. In 1966, the first Rite Aid store opened in New Rochelle, New York. 1976, they introduced seventy Rite Aid private label products. The next year, 1968, they changed their name, officially, to Rite Aid Corporation and started trading on the American Stock Exchange. Then, two years later, in the beginning of the 1970’s, they moved to the New York Stock Exchange. Again, two years later, 1972, they had been operating 267 stores in 10 states. 1981, nine years later, they became the third-largest retail drugstore chain in the country. In 1983, they made over $1 billion in sales. In 1987, their twenty-fifth anniversary was celebrated and they, by then, had 420 stores in 9 states and Washington D.C., as well as Pennsylvania, where they started their business as a Thrift D Discount Center, in Scranton. Their market had greatly expanded and they had passed the 2,000-store mark to become the nation’s largest drug store chain in terms of store count. Eight years later, in 1995, they acquired Perry Drug Stores, the biggest chain of drugstores in Michigan. It was their largest acquisition to date. By then they had operated nearly 3,000 stores. That same year, Martin Grass succeeded his father Alex Grass, as Chairman and CEO of Rite Aid. The year after that, they had grown out to the West Coast and the Gulf Coast, adding more than ...

    Read More

  • Addidas Case Project

    1729 Words  | 4 Pages

    The company also simultaneously concentrated on the sports and made sure that the public came to know of their inventions and of their interests to give bettered products to tits customers.

    Read More

More about Dick's Sporting Goods Case Study

Open Document