Managing Corporate Resources: A Strategic Analysis of Crocs, Inc.

Purpose: The purpose of this study is to implement a strategic planning process forthe Crocs footwear company and find out in which position the company is in the industry to find out the future strategic moves that might help Crocs achieve its goal of five billion dollars revenue by 2026. Design/Methodology/Approach:Strategy-formulation analytical frame work has been used to analyze the input, matching and decision stages. Competitive Profile Matrix (CPM), External Factor Evaluation Matrix (EFEM) and Internal Factor Evaluation Matrix (IFEM) have been used to find out new strategies. Our approach has been focused on Internal Factor Evaluation Matrix, SPACE Matrix, SWOT, Quantitative Strategic Planning Matrix (QSPM) and Projected Income Statement. The competitive environ ment has been criticized vis-à-vis opportunities for sustainable growth. Findings: After the implementation of strategic planning tools our recommendations are to go for market penetration and product extension, it should be done in a way that customization and apparel should be given importance behind brand development and celebrity endorsement. Research Limitations:Implementation of innovative strategies to counter the increasing competition in the industry may be undertaken as research work. Regiocentric or country-specific studies shall further broaden the vistas given emerging challenges. Managerial Implications: The findings of the study have important implications for making future strategies. Future researchers may conduct research work on market research regarding consumers’ tastes so that they can take maximum advantage of product customization, brand aware ness, brand image and other market penetration techniques. Originality/Value: Future researchers may further study the issues beyond the scope of this study.

Keywords

Strategic Planning, Footwear Industry, Crocs Inc., Competitive Analysis, Market Penetration.

Adidas.(2021). Annual Report 2021. https://report.adidasgroup.com/2021/en/
Boeckel, R. M., & McIntyre, W. R. (1959). American manufacturing in foreign countries. Editorial research reports 1959, (Vol.I). http://library.cqpress.com/cqresearcher/cqresrre1959062400
Cam, D. (2020). How Crocs Devoured 2020. Forbes. https://www.forbes.com/sites/denizcam/2020/12/07/howcrocs-devoured-2020-post-malone-collaboration-justinbieber-bad-bunny/?sh=36c6b3808031
Crocs, Inc. (2022). About Us. https://careers.crocs.com/about-us/default.aspx
David, F. R., & David, F. R. (2017). Strategic management: A competitive advantage approach, concepts & cases (16th ed.). Pearson. ISBN-13: 9780134153872
Deloitte & Touche LLP. (2021). Form 10-K. SEC. https://d18rn0p25nwr6d.cloudfront.net/CIK-0001334036/f194d199-c5c3-479a-9cc4-a1ef507bfe57.pdf
Goetzel, R. Z., Fabius, R., Roemer, E. C., Kent, K. B., Berko, J., Head, M. A., & Henke, R. M. (2019). The Stock Performance of American Companies Investing in a Culture of Health. American Journal of Health Promotion, 33(3), 439-447. https://doi.org/10.1177/0890117118824818
Jordan, J. L., Carlson, C. N., & Wilson, J. R. (1997). Financial indicators measure fiscal health. American Water Works Association Journal, 89(8), 34.
MarketLine Industry Profile: Footwear in Global. (2021). Footwear Industry Profile: Global, 1-38.
Mazzini, M. (2014).Celebrity Entrepreneur Endorsement and Advertising Effectiveness.Procedia - Social and Behavioral Sciences Volume: 130. ISSN: 1877-0428.
NASDAQ.(2022). Analysis.Yahoo!finance. https://finance.yahoo.com/quote/CROX/analysis?p=CROX
Moraes, M., Gountas, J., Gountas, S., & Sharma, P. (2019). Celebrity influences on consumer decision making: new insights and research directions. Journal of Marketing Management, 35(13/14), 1159-1192. https://doi.org/10.1080/0267257X.2019.1632373
Nike. (2022). About Us. https://about.nike.com/en/company
Paul, T. (2022, October 13).Here’s how soon prices could go down again, according to experts. CNBC. https://www.cnbc.com/select/inflation-when-will-prices-go-down/
Piller, Frank T, and Melanie Müller (2004). “A New Marketing Approach to Mass Customisation.” International Journal of Computer Integrated Manufacturing, 17 (7), pp. 583-93. doi:10.1080/0951192042000273140
Statista. (2021). Footwear - United States. https://www.statista.com/outlook/cmo/footwear/united-states
Simchi-Levi, D., Schmidt, W., Yehua Wei, Yun Zhang, P., Combs, K., Yao Ge, Gusikhin, O., Sanders, M., & Don Zhang. (2015). Identifying Risks and Mitigating Disruptions in the Automotive Supply Chain. Interfaces, 45(5), 375-390. https://doi.org/10.1287/inte.2015.0804
Singh, S., Kumar, R., Panchal, R., & Tiwari, M. K. (2021). Impact of COVID-19 on logistics systems and disruptions in food supply chain. International Journal of Production Research, 59(7), 1993-2008. https://doi.org/10.1080/00207543.2020.1792000
Zhong, S., Elhegazy, H., Elzarka, H. (2022). Key factors affecting the decision-making process for buildings projects in Egypt. Ain Shams Engineering Journal, 13(3), 101597, https://doi.org/10.1016/j.asej.2021.09.024