Week 5 Assignment



Executive Summary

Founded in 1961, by a young married couple Cabela's has over the years have shown great growth and expansion, from its humble beginnings as a small mail-ordering business from Dick and Mary Cabela's kitchen. Through the years, the company has expanded exponentially and is now a registered public trading corporation, with a global retail network expanding over one hundred and twenty countries and fifty states in America alone.

Cabela's has been successful in carving a niche as the ultimate quality provider for all the consumer's outdoor recreational needs, be it apparel, furniture, equipment or user guide's. the company also produces and broadcasts many outdoor themed programs that provide infotainment to its consumers.

This assignment discusses in detail the environment scan, which includes both internal, external and competitor analysis of the company. This is followed by a careful analysis of the strategies that can be employed by the company for improving its strategic position. This is followed by a detailed implementation plan that discusses the objectives, functional tactics, milestones and possible budgets for the plan to be implemented. Lastly, a risk management plan highlights, the possible risks that can be faced by the company when implementing its strategic plan and what contingency measures it can undertake to overcome these.

Table of Contents

Introduction3

Company Background3

Cabela's Mission, Vision and Core Values Statement4

Company's Management5

Discussion6

Environment Scan6

External Environmental Scan for Cabela's6

Internal Environmental Scan for Cabela's8

Change Management Strategies11

Implementation Plan13

Risk Management Plan and Contingency Measures16

Conclusion17

References18

Week 5 Assignment

Introduction

Company Background

Cabela's was founded in 1961, by a young married couple; Dick and Mary Cabela, who had started a small merchant business from their kitchen. The business began with humble beginnings by offering fishing flies through print advertisements published in local and national outdoor magazines, delivered to subscribers through direct mail. Over the years, the company has become direct marketer and a specialty seller of outdoor recreational merchandise, encompassing that of hunting, camping, fishing equipment and apparels. Similarly, the product portfolio of Cabela's constitutes of over two hundred and twenty-five thousand Strategic Kinetic Units (SKU's), which includes fishing, camping, hunting, marine, outdoor footwear and apparels, as well as, vehicle accessories and home furnishings as well. Thus, proving to be a complete 'one-stop' shop for families and individuals, for their outdoor and indoor home needs (www.phx.corporate-ir.net, 2012).

The company's headquarters is situated in Sidney, Nebraska, along with various retail outlets dispersed throughout America and abroad. Some of the key divisions of the company include Outdoor Adventure division that deals with hunting and fishing equipment and merchandise. Trophy Properties LLC division handles the real estate market dealings, along with the Gun Library is the division responsible for the selling and buying of new or used firearms used for hunting.

The company went public in 2004 and in the same year the company garnered revenues amounting over $1.56 billion, showing a fifty percent increase in the company's growth since 2001. The company introduced its first catalog in 1963 and today, they are shipped to over a one hundred and twenty countries the world over and ...