Crocs Company Analysis
Crocs, Incorporated
I. BACKGROUND Crocs, Incorporated was founded by three Boulder, Colorado men looking to develop and market an innovative type of footwear. Crocs were originally intended as a boating/outdoor shoe, but by 2003 were regarded as an all-purpose shoe (Crocs Incorporated, 2007). The shoes are made of proprietary closed-cell resin and are designed for men, women, and children. Today, Crocs are available all over the world and on the Internet as well. The shoes sell in 11,000 United States' shops, such as Nordstrom and specialty stores, and in 80 countries. Crocs gets most of its revenue from sales to customers younger than 18 years old and older than 30 (Hoovers North America, 2007).
II. STRATEGIC DIRECTION
A. Mission
There is no mission statement.
B. Goals/Objectives increase in the number of retail stores selling our products new product offerings increased sales at retail locations owned by us and through our web stores, and expansion of direct sales into new markets, including China, Brazil and India. enhance and further develop production capacity and global infrastructure to
support the growth of the business and retail sales
further formalization of accounting standards and guidelines, improved segregation of duties, hiring additional competent accounting managers and staff, and improving information technology system controls increase inventory positions primarily in core styles in order to meet anticipated demands for the nine months ending June30, 2008 and, at the same time, make available production capacity for new product lines for delivery in the quarters ending December31, 2007 and March31, 2008 build brand awareness expand into new footwear categories and expand accessory items that compliment the products.
C. Industry Standard Industrial Classification or North American Industry Classification System
The primary Standard Industrial Classification is 3021: Rubber and
I. BACKGROUND Crocs, Incorporated was founded by three Boulder, Colorado men looking to develop and market an innovative type of footwear. Crocs were originally intended as a boating/outdoor shoe, but by 2003 were regarded as an all-purpose shoe (Crocs Incorporated, 2007). The shoes are made of proprietary closed-cell resin and are designed for men, women, and children. Today, Crocs are available all over the world and on the Internet as well. The shoes sell in 11,000 United States' shops, such as Nordstrom and specialty stores, and in 80 countries. Crocs gets most of its revenue from sales to customers younger than 18 years old and older than 30 (Hoovers North America, 2007).
II. STRATEGIC DIRECTION
A. Mission
There is no mission statement.
B. Goals/Objectives increase in the number of retail stores selling our products new product offerings increased sales at retail locations owned by us and through our web stores, and expansion of direct sales into new markets, including China, Brazil and India. enhance and further develop production capacity and global infrastructure to
support the growth of the business and retail sales
further formalization of accounting standards and guidelines, improved segregation of duties, hiring additional competent accounting managers and staff, and improving information technology system controls increase inventory positions primarily in core styles in order to meet anticipated demands for the nine months ending June30, 2008 and, at the same time, make available production capacity for new product lines for delivery in the quarters ending December31, 2007 and March31, 2008 build brand awareness expand into new footwear categories and expand accessory items that compliment the products.
C. Industry Standard Industrial Classification or North American Industry Classification System
The primary Standard Industrial Classification is 3021: Rubber and
References: ADP 's Payroll and Time Attendance Applications Good Fit for Innovative Crocs. Retrieved November 20, 2007 from http://adp.com/workforce-management/docs/case_study/crocs_mfg.pdf Crocs Incorporated (2007) Crocs Incorporated (2007). Investor relations. Retrieved November 20, 2007, from http://www.crocs.com/company/investor Crocs Incorporated (2007) Driscoll, Marie, & DeFoe, Jeannine (2007). Industry Surveys: Apparel & Footwear. Standard & Poor 's Hoovers North America (2007) Hoovers North America (2007, November 14). Crocs, Inc. 10-Q. Retrieved November 21, 2007, fromhttp://premium.hoovers.com/subscribe/co/secdoc.xhtml?ID=fffryssxsfjysxxrtf&jpage=5545512-770-116908 Hoovers North America (2007) Hoover North America (2007). Crocs Incorporated. Retrieved November 20, 2007, from http://premium.hoovers.com/subscribe/co/fin/income .xhtml?ID=fffryssxsfjysxxrtf&perio Hoover North America (2007) Markels, Alex. (2007, September 24). Croc and Roll. US News and World Report , 143, pp. 54-57. Occupational Safety & Health Administration (n.d.). Description for 3021: rubber and plastics footwear. Retrieved November 21, 2007, from http://www.osha.gov/pls/imis/sic_manuel.display?id=633&tab=description Shoe Stats 2006 Steverman, B. (2007, November 24). Crocs: Out of Fashion on Wall Street? Ebscohost: Business Week Online, pp. pg. 21. Retrieved November 20, 2007, from www.ebscohost.com/ehost/delivery?vid=5&hid.com Thompson, Stephanie U.S. Census Bureau (2007, August 2). 2007 NAICS definition. Retrieved November 21, 2007, from http://www.census.gov/eos/www/naics/htmls/3/316211.htm