Management Case Study: GoPro's Entrepreneurship and Strategic Plans

This report provides a comprehensive analysis of the GoPro case study, examining various aspects of entrepreneurship, marketing, and strategic planning. Part A delves into the 'dark sides' of entrepreneurship, discussing mental pressure, uncertainties, and the impact on social life, supported by academic sources. It also debunks common myths about entrepreneurship, referencing Peter Drucker's insights and the experiences of GoPro's founder, Nick Woodman. Part B focuses on GoPro's marketing and strategic planning, evaluating its competitive advantages, such as product differentiation and cost strategies. It also identifies potential future threats and proposes strategies for maintaining a competitive edge, including the importance of product differentiation, quality control, and adapting to market dynamics, such as the rise of smartphones. The report concludes with an overview of the key findings and recommendations for GoPro's continued success.

Running head: MANAGEMENT
Case study analysis on GoPro
Name of the student:
Name of the university:
Author note:

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Executive summary
Management is crucial for enhancing the efficiency and productivity of the companies and
organizations. This management is vital for the entrepreneurs in terms of attaching flexible
start to the business operations. As per the arguments of Peter Drucker, entrepreneurship is a
discipline, which enhances the preconceived skills, expertise and knowledge regarding the
dynamics of the business operations. This assignment exposes agreement to the statements,
contradicting the tags of magic and mystery. Product differentiation and cost strategy is
needed in terms of achieving sustainable completive advantage over the contemporary brands
like Nokia, Sony and others. Evaluation and audits are crucial for upgrading the standards
and quality of the performance.

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Table of contents
Introduction................................................................................................................................3
Part A (Entrepreneurship)..........................................................................................................3
Determination of the dark sides of entrepreneurship.................................................................3
Myths regarding the concept of entrepreneurship......................................................................4
Part b (marketing and strategic planning)..................................................................................6
Competitive advantage of GoPro...........................................................................................6
Future threats to the strategy..................................................................................................8
Conclusion..................................................................................................................................9
References................................................................................................................................10

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Introduction
The definition of the entrepreneurship is much more diverse in the current time that it
was a decade ago due to the reason that the current business state of affairs are highly
influenced by the different unique approaches of the concept of entrepreneurship. In addition,
in the recent time, there are number of successful iterations of the entrepreneurship got
emerged, which is further proving the point that it is one of the most popular and emerging
concepts presently. The more popularity of the concept of entrepreneurship is encouraging
the extensive discussion about it (Klotz & Neubaum 2016). However, there are few gaps
identified in this discussion, which are the dark sides of entrepreneurship. In addition, there
are few myths also popular regarding the entrepreneurship, which also needs to be busted. In
the recent tine, the success of GoPro in the market is the major example of how can effective
plans of entrepreneurship can lead the market change. Hence, there are huge scope left for the
discussion and analysis regarding entrepreneurship (Hmieleski & Lerner 2016).
This report will discuss about the major dark sides of entrepreneurship and why these
sides are important to consider. In addition, the most popular myths regarding
entrepreneurship will also be discussed. The marketing process of GoPro will also be
analyzed and the major sources of gaining of competitive advantages will be discussed.
Lastly, the major threats for them will be identified and based on that a few suggested
strategies will be discussed.
Part A (Entrepreneurship)
Determination of the dark sides of entrepreneurship
One of the major dark sides of entrepreneurship is mental pressure. This is due to the
reason that entrepreneurship involves managing all the business activities and responsibilities
by own without any support of assistances. In addition, in the case of entrepreneurship, the
idea of the entrepreneurs to be implemented will have less understanding among others.

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Thus, the entrepreneur should implement and organize all the business elements and
functions by own in the entrepreneurship (Verduyn, Dey & Tedmanson 2017). This will
affect their mental health and will cause stress and pressure. There are number of instances
where it is seen that the entrepreneurs were not able to ensure the successful implementation
of their ideas by not being able to handle the pressure and stress. Thus, one of the major dark
sides of entrepreneurship is mental pressure.
Another dark side of the concept of entrepreneurship is associated uncertainties. This
refers to the fact that there are no assurances of the positive return from the implementation
of the entrepreneurial ideas. In any business ideas, uncertainties are involved and it should be
dealt with accordingly. However, in the case of entrepreneurship, this uncertainty is high due
to the initiation of new ideas in place. Thus, the entrepreneurs will not have the assurance
about getting succeeded in the business (Olaison & Meier Sørensen 2014). In this case, the
example of Woodman is prominent as he also faced failure prior to the success with GoPro.
Entrepreneurs should have this understanding that entrepreneurship will not provide positive
return only but the negative implication can also get emerged.
The last dark side of entrepreneurship is the lack of social life. This is due to the
reason that the kind of involvement and engagement required for the entrepreneurship will
not let the entrepreneurs in leading a proper social life. In the case of any organized business
activities, all the business elements are well organized and difficulties are low in coordinating
among them. However, in the case of entrepreneurship, each of the elements is unplanned
and it is the responsibility of the entrepreneurs to devote their entire time in organizing them
(Nieminen & Hytti 2016). Thus, their social life is one, which will be affected and it is up to
the entrepreneurs to compromise with their social and personal life in meeting the
entrepreneurship requirements.

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Myths regarding the concept of entrepreneurship
According to the Peter Drucker, entrepreneurship is not a magic not it is any mystery
rather it should be learnt. This statement is true and the background information of the story
of GoPro is the proof of this statement. In the given case, it is identified that prior to the
initiation of the entrepreneurship ideas by Woodman, he first learnt about how to achieve the
success. His father was working with some companies in the Silicon Valley and the genetic
inheritance of Woodman should not be towards entrepreneurship (McMullen & Dimov
2013). This is proving the point that the concept of entrepreneurship is not get inherited from
genes. In addition, it is also identified that prior to going ahead with own entrepreneurship
ideas, Woodman first tried to replicated the success stories of the innovative business firms in
Silicon Valley. This point is providing the theories of concepts of entrepreneurship should be
learnt.
Woodman also faced failure with his first entrepreneurship venture Funburg, which
forced him to change his mindset from setting own entrepreneurial firm to searching for fixed
job. Had the concept of entrepreneurship was magic; Woodman would not have to struggle
this to gain the success with GoPro. Moreover, it can also be concluded that entrepreneurship
is not any mystery and it can be learnt. In this case, Woodman followed the trial and error
formula in learning the concepts of entrepreneurship (Hjorth, Holt & Steyaert 2015). In the
case of failure of his first venture Funburg, Woodman took time in identifying the limitations
in his entrepreneurial approaches and implemented the modified version in his next venture
of GoPro. Thus, it can be concluded that Peter Drucker is true in his statement that
entrepreneurship is a discipline and it can be learnt. The background story of Woodman also
concludes that the skills and qualities of entrepreneurship cannot be inherited. The failure of
Woodman in his first venture actually proving the point that entrepreneurship is neither
magic and mystery nor it will provide positive return to the investors for sure (Sautet 2018).

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The added risks with the initiation of the entrepreneurship ideas are also evident in the story
of Woodman. Hence, the elements discussed by Peter Drucker are myths and the statement
given by him is agreed.
Part b (marketing and strategic planning)
Competitive advantage of GoPro
Product differentiation is one of an efficient ways in which companies like GoPro
plans to achieve competitive advantage on the competitors. Contacting the members of
research and development team is apt for causing the advent of innovation within the product
designs. Within this, the main focus is on reducing the operational cost of the cameras for
attracting large scale customer satisfaction. Providing the cameras with modern features at
low price is an attempt to avert the threat of substitutes. Along with this, Noe eta al. (2017)
states that it also reflects the initiatives towards retaining the prospective customers, who
would contribute in increasing the sales revenue and profit margin. In this way, value is
generated in the processes, enhancing the profitability.
Assessment of the cost and differentiation shapes the internal situational analysis of
Go Pro. This analysis is beneficial for achieving infrastructural development, fruitful for the
penetrating into the foreign markets. Mention can also be made of the resource based view,
which reflects the capability of the resources to produce high quality cameras, according to
the needs, demands and requirements of the customers. Use of high quality technological
support develops value in the processes, helping GoPro in achieving sustainable
development. Typical evidence of this lies in the contacting the all-in-one product engineers,
members of the research and development team and salesman. In this, Salavou (2015) is of
the view that the packaging model was used for ensuring that the labelling of the cameras is
done appropriately, informing the customers about the benefits and the specific features.

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Fig: Model of competitive advantage
(Source: Johnson & Ven 2017)
Resources and capabilities
The shelf life of resources like the Flip camera was shortlived. This was because of
the lack of product life cycle, which would have enhanced the awareness of its feasibility in
an ambience where smartphones with cameras are ruling the market. Rapid progress of the
hardware manufacturers to the Uber platform reflects the high switching cost, reflecting the
improper supply of raw materials to the suppliers. This is a matter of serious concern
regarding the dominance, which the suppliers and distributors can exert on the company.
iPhone and Android operating systems have taken over the sale of the cameras. Moreover, the
software have been installed for the securing the operations, aggravating the complexities in
the achieving higher sales revenue and enhancing the profit margin. Meyer, Neck & Meeks
(2017) states that regular examinations by the experts is assistance for averting the
manufacturing of the defective cameras before the orders reach to the customers.
value creation
Cost
advantage
Resources
Distinctive
competencies
Differentiation Capabilities

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Competitive rivalry from Sony is high for GoPro, as it introduced cameras with image
stabilization and stereo sounds. Launch of this camera placed Sony at the second position in
the list of the technological companies. According to the arguments of Whalen et al. (2016),
claims of the managers, GoPro engages most of the customers, indicating higher brand
loyalty. The major drive behind this is the investments made by the customers.
Future threats to the strategy
Unless and until GoPro develops product differentiation, the company would not be
able to attract the customers. For this, import and export of the spare parts is needed for
upgrading the standards and quality of the resources. Frequent quality control checks the
supervision of the experts is needed for averting the manufacturing of defective cameras.
Mention can also be made of the risk assessments, which would be assistance for mapping
the potential areas, which can stall the productivity. For this, Schaper (2016) recommends
that journey mapping can be conducted. Lackadaisical approach in this direction would
aggravate the complexities in the form of competitive rivalry from the brands producing
smartphones.
Incapability to come up with something innovative would compel GoPro to encounter
severe losses in the form of the switch over, which is easily available for the smartphone
brands. This is due to the flip cameras, modern features and security guarantees, all in the
smartphones. Along with this, the pricing of the cameras is to be reviewed in terms of
achieving higher competitive advantage. This can be achieved through the means of low cost
structure or tdifferentiation in the design of the cameras. Autio (2017) states that the Foxconn
deal of $200 million can be productive, however, it needs to be tactful in an ambience when
the market is ruling with the smartphones with latest features, providing the contemporary
brands with an opportunity to attain greater competitive advantage. In this situation,
unwillingness to spend a penny contradicts the approach towards introducing attractive

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services and offers. However, the managers point the plan of public offering, which can be
considered as an initiative towards enhancing the corporate social responsibility.
Absence of evaluation and audits can deprive the awareness about the resources and
their capabilities. This is a challenge in terms of value creation, aggravating the complexities
in journey mapping for the areas, which needs to be developed for enhancing the standards
and quality of the performance. Moreover, Piperopoulos (2016) is of the view that improper
strategic approach towards competition can add vulnerability into the market position of
GoPro. For averting this instance, risk assessment needs to be conducted for gaining an
insight into the risks of new entrants (startups dealing in smartphone services), new
competition (Sony coming up with innovative services and models, substitute products) and
others.
Conclusion
Enterpreneurship has been presented in the form of management in this assignment.
In the first part, agreement has been proposed to the claims of Peter Drucker regarding the
true essence of entrepreneurship. He is of the view that entrepreneurship is just a discipline
and can be learnt, in which cognitive theory can be infused, as the personnel of GoPro learn
the basic of marketing, as they perform the processes. The aspect of dominance and
sadomachistic contradicts the attributes of magic, mystery, which has been attached to
entrepreneurship in the statements of Peter Drucker. Product differentiation and cost is the
key towards maintaining the security in the market position. Evaluation and audits is the
keystone towards enhancing the standards and quality of the performance.

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References
Autio, E., 2017. Strategic entrepreneurial internationalization: A normative
framework. Strategic Entrepreneurship Journal, 11(3), pp.211-227.
Hjorth, D., Holt, R. and Steyaert, C., 2015. Entrepreneurship and process
studies. International Small Business Journal, 33(6), pp.599-611.
Hmieleski, K.M. and Lerner, D.A., 2016. The dark triad and nascent entrepreneurship: An
examination of unproductive versus productive entrepreneurial motives. Journal of Small
Business Management, 54, pp.7-32.
Johnson, S. and Van de Ven, A.H., 2017. A framework for entrepreneurial strategy. Strategic
entrepreneurship: Creating a new mindset, pp.66-85.
Klotz, A.C. and Neubaum, D.O., 2016. Article Commentary: Research on the Dark Side of
Personality Traits in Entrepreneurship: Observations from an Organizational Behavior
Perspective. Entrepreneurship Theory and Practice, 40(1), pp.7-17.
McMullen, J.S. and Dimov, D., 2013. Time and the entrepreneurial journey: The problems
and promise of studying entrepreneurship as a process. Journal of Management
Studies, 50(8), pp.1481-1512.
Meyer, G.D., Neck, H.M. and Meeks, M.D., 2017. The entrepreneurship‐strategic
management interface. Strategic entrepreneurship: Creating a new mindset, pp.17-44.
Nieminen, L. and Hytti, U., 2016. Commitment to an entrepreneurship training programme
for self-employed entrepreneurs, and learning from participation. Education+
Training, 58(7/8), pp.715-732.
Noe, R.A., Hollenbeck, J.R., Gerhart, B. and Wright, P.M., 2017. Human resource
management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education.

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Olaison, L. and Meier Sørensen, B., 2014. The abject of entrepreneurship: failure, fiasco,
fraud. International Journal of Entrepreneurial Behavior & Research, 20(2), pp.193-211.
Piperopoulos, P.G., 2016. Entrepreneurship, innovation and business clusters. Routledge.
Salavou, H.E., 2015. Competitive strategies and their shift to the future. European Business
Review, 27(1), pp.80-99.
Sautet, F., 2018. The battle for the essence of entrepreneurship. The Review of Austrian
Economics, 31(1), pp.123-139.
Schaper, M. ed., 2016. Making ecopreneurs: Developing sustainable entrepreneurship. CRC
Press.
Verduyn, K., Dey, P. and Tedmanson, D., 2017. A critical understanding of
entrepreneurship. Revue de lEntrepreneuriat, 16(1), pp.37-45.
Whalen, P., Uslay, C., Pascal, V.J., Omura, G., McAuley, A., Kasouf, C.J., Jones, R.,
Hultman, C.M., Hills, G.E., Hansen, D.J. and Gilmore, A., 2016. Anatomy of competitive
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Marketing, 24(1), pp.5-19.