GoPro Business Management Case Study
GoPro is a leading manufacturer of action cameras, drones, mobile apps and video-editing software developer. It also producers mounting accessories for its cameras and provides content on YouTube. GoPro's products became popular especially after increased popularity of video-blogging. Company's main product - cameras - were called "Hero" and drones were called "The GoPro Karma".
GoPro exports its products almost all over the world. There is a list of regions on website, where they currently do not ship to. For example, Iraq, Iran, Cuba, Indonesia, Bangladesh, Kazakhstan, Russia, Syria, Zambia etc. All GoPro products are popular among people. They gladly buy both Hero cameras with accessories and video-editing software to edit camera footage.
GoPro cooperates with China. They do production and import most of their suppliers. GoPro has strict rules and regulations in China facility to prevent unethical production. The company and its founder Nick Woodman values its reputation, so quality of imported production is on the highest level.
GoPro exercises outsourcing to reduce costs and create a product with higher value. Years ago the company began production through overseas manufacturing. GoPro's outsourced workforce locations, which are situated in China, are closely monitored and supervised by the US office. Outsourcing helped the company to increase its efficiency and decrease production cost.
GoPro sells its stocks in the open market. They can be bought through any registered broker by any person. The company also engages its customers and investors on Social Media. High popularity helps the company to be more valuable and appealing for investments. Although, GoPro had several failures during its lifetime. In 2016 they recalled drones and refunded customers in full because of complaints. But the company announced release of new types of devices and software and engages new investors. The most effective is direct investment. There is information on company's site where investors can study the financial documents and check stockholder account via agent.
The core international business of GoPro is manufacturing in China. This country is open for developing business. However, there are barriers which need to be overcome. GoPro continues successfully work there, but barriers still exist. Business and relationships in China are based on mutual respect. Face-to-face social interaction is highly appreciated. It is crucial for management to visit China personally, not communicating solely by phone. Another barrier for GoPro is special characteristics of government regulations. The Government plays a much greater role in the economy and business in China. Shipping products is also an issue that needs to be resolved. GoPro cameras have demand worldwide, but there are many countries where they do not ship to. Much profit is being lost. Language barriers are very important as Chinese language is too different from English. It is necessary to cooperate with native speaker. Such manager will not only translate, but also help in negotiations with suppliers, banks and employees. With local relationships, right professional support, improved communication, doing business in China will be more profitable and effective for GoPro.
GoPro is an advanced competitive company …
