GoPro, GoPro Culture, corporate governance mechanisms, social responsibility, structure financial, revival of the company
GoPro was founded in 2002 by Nick Woodman, a snowboarder, skier and motorsport enthusiast looking for a better way to film himself and his friends on the water. The idea, which started with a 35 mm camera and a wrist strap made from old diving suits and bits of plastic, grew into the international company that has sold over 26 million GoPro cameras in over 100 countries.
GoPro wants to give its users the keys to celebrate the moment and invites the world to join in. From cameras to applications and accessories, everything is designed to help the customer capture the moment and share its experiences.
[...] It fragilized the position of GoPro's shareholders and may have tarnished the financial image of the company. It has also favoured the investment of various private funds in the group such as Prentice Capital Management, which owns of the shares, the Vanguard Group ( 8.2 or the biggest one, BlackRock Fund Advisors ( 2.9 This kind of investment may turn the company to a business model focused on rentability and not turned on the basic culture model developed first. Hence, GoPro has known a redundancy plan in April 2020, supported by the Covid-19 crisis. [...]
[...] Indeed, customers have become true ambassadors of the brand and do not hesitate to send their own videos to GoPro to be used in its advertising. In short, it is its young clients who promote the cameras through their videos. The company clearly has a large number of ‘anonymous' people who communicate on a voluntary basis. Originally GoPro's communication was by word of mouth. Then as it developed, people who filmed themselves posted their exploits on YouTube or Vimeo type platforms. [...]
[...] Facing this, the current trend in governance is to involve stakeholders to a greater extent in an attempt to build a genuine relationship of trust with the company. However, this trust can only be built up with a higher level of transparency, i.e. with this obligation to be ‘accountable'. A good example is the preparation of annual sustainability reports; companies are beginning to involve stakeholders more in the actual preparation of these reports, which inevitably increases the level of transparency. [...]
[...] At the same time, GoPro ended the year with over $200 million in revenue. It most has double in 2012 with over $500 million in revenue. The trend continues in 2013, to $ 985.7 million. Its revenue peaked in 2015, at $ 1.62 billion, an increase of The corporate governance has inspired from the regular company model. GoPro has implemented a clear composition of its board: 10 people take place on the board with the founder Nicholas Woodman, Chief Executive Officer and Chairman, as its top. [...]
[...] Like Mr. Woodman, the members of the board of directors have also refused to receive their salaries until the situation improves. Then, the company is now moving towards a model of direct sales to consumers on the brand's e-commerce site. For the financial advisor, a more direct selling approach is more in line with the current economic climate, more favourable to GoPro's average selling price and gross margins, and puts the company in a good position for when consumer demand begins to normalise. [...]
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