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Why are employees inside stakeholders but (workers) unions classified as outside stakeholders?

2.    To what extent does “discretionary responsibilities” support the argument for corporate social responsibility?

3.    Citing the findings of published articles, does pursuing CSR make companies more profitable?

4.    Differentiate between workplace romance and sexual harassment.

5.    A Lecturer reports a student to management because the latter offered the former a fuel voucher. According to the definition of bribery, was the Lecturer right in the action she took?

As a continuation to your project, perform a Resource Based View Analysis, Value Chain Analysis as well as IFE and EFE matrix analysis for the various businesses you are working on.

2.    To what extent does “discretionary responsibilities” support the argument for corporate social responsibility?

3.    Citing the findings of published articles, does pursuing CSR make companies more profitable?

4.    Differentiate between workplace romance and sexual harassment.

5.    A Lecturer reports a student to management because the latter offered the former a fuel voucher. According to the definition of bribery, was the Lecturer right in the action she took?

As a continuation to your project, perform a Resource Based View Analysis, Value Chain Analysis as well as IFE and EFE matrix analysis for the various businesses you are working on.

Competition in the 
Golf Equipment Industry

Overview

In 2005, the golf equipment industry was confronted by a number of troubles, including a decline in the retail value of the golf equipment sales from approximately $4 billion in 2000 to a projected $3.2 billion for the year. In addition, the number of golfers in the U.S. playing eight or more times per year had declined by 3% between 2000 and 2004. Industry sales were keyed to the number of core golfers playing eight or more times per year since these frequent golfers accounted for the majority of equipment sales. Also, equipment manufacturers were finding it more difficult to develop technological innovations that would encourage occasional and core golfers to purchase new equipment. Golf’s governing body in North America, the United States Golf Association (USGA), had ruled in 1998 that some clubs planned for introduction at that time were too technologically advanced and posed a threat to the game. The primary concern of the USGA was that technologically advanced driving clubs might produce a “spring-like” effect to help launch the ball as it was struck by a golfer. As a result of its concern, the USGA established a Coefficient of Restitution (COR) club face performance limitation that created a technology ceiling which all major manufacturers had reached by 2005. Once the USGA felt comfortable that it was able to hold golf club innovation in check, it turned its attention to golf balls. In June 2005, the USGA asked all golf ball manufacturers to develop prototypes of golf balls that would fly 25 yards shorter than current models. USGA officials asked that these prototypes be submitted for evaluation by golf’s governing body.

The combined effect of technological limitations imposed by the USGA, slowing growth in the number of new golfers, a decline in the number of core golfers, and blurred differentiation between brands had set off some notable price competition in the industry and had led to significant declines in industry profitability and market value. Industry leader, Callaway Golf Company, which had earned a record $132 million when it enjoyed a large technology-based competitive advantage over rivals in 1997, experienced a $10.1 million loss in 2004. The company’s share price declined from a peak of $35 in 1997 to approximately $15 in late-2005. The company’s shares had traded as low as $10 before the company was rumored to be an acquisition target during mid-2005. TaylorMade Golf, which was an adidas-Salomon business unit and another technological leader in the industry, suffered a 1% decline in sales and an 11% decline in operating profits between 2003 and 2004. Industry rivals with less developed technological capabilities had actually benefited from the USGA COR limitation since it provided those companies with an opportunity to catch up to TaylorMade and Callaway Golf from a technology standpoint. Revenues for Adams Golf, which had been a niche seller with limited technological capabilities, increased from $41.7 million in 2000 to $56.8 million in 2004 after its products eventually matched the COR of those offered by such industry leaders as Callaway Golf and TaylorMade. The sizeable increase in revenues allowed Adams Golf to swing from a $37 million loss in 2000 to a $3.1 million profit in 2004. Even though the equalization of technological capabilities and market shares had resulted in increased profits for some golf equipment manufacturers, the overall slim operating profit margins in the industry and emergence of price competition were troubling signs for investors seeking growth and preservation of principal.

Suggestions for Using the Case

Students should find the case intriguing not only because of golf’s popularity with young adults but also because the golf equipment industry is undergoing changes that pose very interesting strategy problems. We recommend using the case immediately following your coverage of Chapter 4 (or Chapter 3, if you would just like to have the students “practice” using the tools of industry and competitive analysis). This is an excellent case to use early in your business strategy module, particularly after you have covered Chapters 1-4. Coverage of Chapter 4 is important if you want students to do a competitive strength assessment of the 5 industry leaders using the methodology discussed in Table 4.5 of Chapter 4.

The Golf Equipment case is ideal for demonstrating use of the five-forces model and analyzing the impact of the five competitive forces on overall industry attractiveness. In addition, driving forces analysis is quite important, as it demonstrates that the dynamics of competition in the industry are in the midst of dramatic change. There is ample material in the case to allow students to go beyond five-forces analysis and determine the dominant industry economic characteristics, examine strategic positioning through the use of a strategic group map, and evaluate industry key success factors.

The decision focus of the case centers on what strategy changes one or more industry rivals might consider, given the dramatic changes underway in the golf equipment industry.

There’s also a case preparation exercise on Case-Tutor for this case that leads students through a thorough industry analysis and prepares them to make strategy recommendations for selected companies. If you position the case early in your business strategy module (ideally after covering Chapters 1-4), then students should be able to do prepare solid answers to the Assignment Questions below. If you decide to assign the case following Chapter 3, then you probably want to have the class skip Assignment Question 6.

To signal students of your expectations regarding the preparation of the Case-Tutor exercise, we always recommend that you insist on students bringing printouts of their completed exercises to class to use as notes during the discussion and to argue their positions more forcefully and completely. Letting students know that you fully expect them to come to class with completed printouts of their work will not only signal your expectation that being well-prepared is essential but it will also put more students in position to give meaningful, content-filled answers to the questions you pose. Based on our experiences, we believe that you will have a more insightful and constructive class discussion of the Golf Equipment Industry case if students have conscientiously worked their way through the accompanying case preparation exercise before they come to class.

If you intend for students to make use of the case preparation exercises on Case-Tutor, we recommending leading off your module on business strategy with a case having a case preparation exercise on Case-Tutor (such as the Golf Equipment Industry case or the Dell case). All 11 case preparation exercises accompanying this edition were created expressly for the purpose of getting students off on the right foot in understanding and applying the concepts and tools discussed in the nine text chapters. The Case-Tutor case preparation exercise for the Golf Equipment Industry case leads students through essentially the same assignment questions presented in the following section. Thus the content of the Teaching Outline and Analysis section of this TN serves as your set of “answers” to the questions posed to students in the accompanying Case-Tutor exercise—this pattern of correlation between the assignment questions on Case-Tutor and the contents of the Teaching Outline and Analysis section is characteristic of all 10 case preparation exercises on Case-Tutor. You may want to peruse the Golf Equipment case preparation exercise on Case-Tutor prior to class to get a feel for the kind of thinking and analysis that it calls upon students to do. Students that do a conscientious job of completing the exercise should be well prepared to contribute to the class discussion. As explained in Section 1 of the IM, the 11 case preparation exercises on Case-Tutor are not intended as an “answer book” or as a “crutch” but rather as a vehicle for tutoring students in how to think strategically about a company and how to properly use of the tools of strategic analysis.

The case can be used effectively for a written assignment or an oral team presentation. Our recommended questions for written assignments are as follows:

1.​Callaway Golf Company is considering you for a position in its product development department. You have been asked to prepare an analysis of the golf equipment industry as part of the selection process. Please prepare a 5-6 page report that includes a description of the industry’s dominant business and economic characteristics, evaluates competition in the industry, assesses industry driving forces, and identifies industry key success factors. The company’s management also asks that you propose the basic elements of a strategic action plan that will allow Callaway Golf to reverse its market share losses in drivers and fairway woods and increase sales of its other golf equipment lines.

2.​As a new member of Callaway Golf’s management team, you have been asked to prepare an analysis of the golf equipment industry. Your 2-3 page executive summary should list strategic issues confronting Callaway Golf Company and make recommendations to address such issues. The executive summary should be supported by your analysis of the industry. Exhibits such as a Five Forces model, dominant industry characteristics, key success factors, driving forces, and a strategic group map should be attached to your report.

3.​(Short written case assignment) Which of the major companies in the golf equipment industry appear to be competitively strongest and weakest? Support your answer by doing a competitive strength analysis of Callaway, TaylorMade, Titleist/Cobra, Ping, and Nike using the methodology shown in Table 4.5 in Chapter 4.

4.​(Short written case assignment)  What recommendations would you make to Callaway Golf to improve the company’s competitive position in the industry and its financial and market performance? Support each of your recommendations with forceful arguments and reasoned analysis.

5.​(Short written case assignment)  What recommendations would you make to TaylorMade Golf to improve the company’s competitive position in the industry and its financial and market performance? Support each of your recommendations with forceful arguments and reasoned analysis.

6.​(Short written case assignment)  What recommendations would you make to Fortune Brands to improve the company’s competitive position in the industry and its financial and market performance? Support each of your recommendations with forceful arguments and reasoned analysis.

Assignment Questions

1.​What does your strategic group map of the golf equipment industry look like? Which strategic groups do you think are in the best positions? Which are in the worst positions?

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