Stakeholder Meeting Simulation and White Paper

MGT604

STRATEGIC MANAGEMENT

GROUP ASSESSMENT

PART A: Preliminary Outline

ROLE: GENERAL MANAGER OF GoPro

SUBMITTED BY: RUPALI GOYAL

(00294423T)

GoPro is a company of action cameras which is also known as digital cameras. This company was established by Nick Woodman in 2002 when he went for surfing. As a General Manager of the company, I would like to bring new software to the company for the success of the company for a long period.

GoPro’s reason of failure was the lack of understanding about the market. In the beginning of their journey, they had never expected or received any competition from smartphones. Instead of taking care competition, they were busy only in innovation of the cameras. They had never tried to know about the consumer’s expectations. They had made a mistake of layoffs the employees of the company for reducing the cost. For making it profitable, company has to invest the money. Cost of the GoPro’s cameras was higher along with this people have to buy different accessories for the different activities of the camera. So, by using the diversification strategy, I would like to make the company competitive in the market by bringing new thing to the company so that company can able to attract new customers as well.

Firstly, the company have decided to hire the JP Morgan Chase then a month later they denied that offer which was the big mistake of the company. So, as a General Manager, I have decided by discussing with my team to start supplying our cameras to the phone manufacturing company so that they can use the technology of GoPro for which only they had patent previously. Then phone manufacturing company is going to develop a new software of high-quality of quick editing and sharing photos or videos in 3D or 4D manner. With this company can attract the phone manufacturing company’s customers and can develop a new market and can sell their cameras with 3D editing app to the Graphic Designers which is going to be useful thing in their profession. Moreover, GoPro have to hire new IT staff with lots of experience in making software. One more thing, company should lower down their camera’s prices as well by offering some discount so that youngsters or students can easily buy the cameras who have a hobby of photography and can see their future as an Amateur Photographer.

As most of the population is using smartphones for capturing their photos or videos as a memory while going on holidays which is also easy to carry for them then this new app is going to be very useful for that people who wants to quickly edit their pictures and post them on social networking sites like Instagram, Facebook, YouTube, etc. With this, new customers will come to know about the GoPro company’s cameras who are fond of digital cameras. At the last, I think for the company’s well-being they need new suppliers for the enhancement of the union team.

References:

GoPro Success Or Failure, Business Details. (2018, December 20). Retrieved March 20, 2020, from iGyaan Network website: https://www.igyaan.in/163949/why-gopro-failed/

Wikipedia Contributors. (2019, May 21). GoPro. Retrieved from Wikipedia website: https://en.wikipedia.org/wiki/GoPro