BUSINESS RESEARCH EVENT Rankin Chapter/Hinds Community College Jane Foreman Amanda Grieco 144 Chotard Ave. Pearl, MS 39208 April 21, 2012 SECTION 1 - Executive Summary A. Bass Pro Shops, the World’s Greatest Outdoor Store, is more than just a well-known and loved retailer. Their mission is “to be the leading merchant of outdoor recreational products, inspiring people to love, enjoy, and conserve the great outdoors”. The Pearl, Mississippi location has been a major location for the last six years. Almost half of Bass Pro Shops’ customers travel 50+ miles to be part of the retail experience, making “Mississippi” the Pearl location’s “local” community. The community consists of 2,941,991 people with a median income of $47,031 per family. The target market consists primarily of males of any age, and with the enhancement to their corporate social responsibility program, the target market can increase to women and other individuals not reached by the retail aspect of the store. The primary goal/objective of the proposed enhancement is a children’s campground, built with “going green” ethics, where the proceeds will be donated to local charities to benefit children and the community. Bass Pro Shops will cover many aspects of corporate social responsibility including (but not limited to) monetary donations and aid to local organizations, advocating the preservation, restoration, and improvements of the environment with a “green” facility and camper’s educational classes, and building skills and long-term relationships with the children and residents of the local community. Based on research conducted, it concluded that there is a need, want, and desire for this children’s campground; the community and the company would both be behind and benefit 100% from the strategic move of implementing this camp. In order to maintain interest in the campground, the construction and completion is set to finalize within one year of its’ approval. There is an estimated budget of $-------- to complete the campground. A metric called SROI, or Social Return on Investment, will be used to calculate the effectiveness of this enhancement. This six-step metric would be the most accurate to calculate the return on investment of the campground because it implies that the return in SROI is a form a value rather than just a monetary figure, and this campground will be valuable to the company and, most importantly, to the community. 2|Page SECTION 2 – Introduction A. Bass Pro Shops, serving over 75 million sportsmen and women a year, is more than just fishing tackle and boats. This retailer is the World’s leader in the outdoor industry, with its stores including hunting, fishing, camping, nature gifts, outdoor cooking, clothing, footwear, firearms, archery, and game licenses. Each store is also unique with taxidermy, aquariums, waterfalls, educational classes, repair services, restaurants, game rooms, and much more. Bass Pro Shops not only sells a broad spectrum of merchandise in each of its categories, it produces its’ own brands to ensure the highest quality of merchandise is available to its customers at an affordable price. Their mission statement is “to be the leading merchant of outdoor recreational products, inspiring people to love, enjoy, and conserve the great outdoors”. Bass Pro Shops is not only a retail store; it is widely known for its conservation efforts and strong support of many organizations. According to Bassproshops.com, “The company's philanthropic efforts are primarily directed toward not-for-profit organizations that support conservation of fish and wildlife, especially those which exhibit a strong emphasis on youth development in these areas.” The individual location of Pearl, Mississippi, has provided the state’s capital with a major shopping and tourist stop for the last six years. 3|Page B. With 40-45% of Bass Pro’s customers traveling 50+ miles to be part of the retail experience, the following are figures based on the state of Mississippi as the “local community”. MISSISSIPPI CHARACTERISTICS Characteristic TOTAL POPULATION Male Female RACE White Black American Indian Asian Islander Two+ AGE Under 18 18+ EMPLOYMENT STATUS In labor force Unemployed INCOME Total Households Median Income Families Median Income HOUSEHOLDS With Families Nonfamily MARITAL STATUS (age 15+) Never Married Now Married Separated Widowed Divorced EDUCATION Age 3+ enrolled in school High School Grad/GED Associates Degree Bachelor’s Degree Grad/Pro Degree NOT A U.S. CITIZEN LANGUAGE SPOKEN AT HOME English Other Estimate Percentage 2,941,991 1,427,843 1,514,148 48.5 51.5 1,761,910 1,088,270 13,610 24,691 636 29,446 59.9 37.0 0.5 0.8 0.0 1.0 757,375 2,184,616 25.7 74.3 1,358,952 129,104 59.8 5.7 1,081,052 $37,881 749,274 $47,031 1,081,052 749,274 331,778 69.3 30.7 729,707 1,083,651 70,802 170,263 263,455 31.6 46.9 3.0 7.2 11.4 800,133 579,428 142,904 236,987 128,172 43,042 2,629,581 103,919 Source: U.S. Census Bureau, 2010 C. Bass Pro Shop’s current target market is primarily males of any age, living within the state of the store’s site and that is interested in the outdoors. The products offered range from beginner to advanced/pro, therefore suited for any age/skill level. With the inclusion of this program, the target market will increase to include the women and children of the same community. This will meet all possibilities of target market coverage for Bass Pro Shops. 4|Page SECTION 3 – Research Methods Used in the Study A. Methodologies used to research for the children’s camp were internet research, surveying the local community, and interviews with Bass Pro Shop’s corporate office. Internet research was used because of the endless amount of resources and information available while maintaining cost efficiency and time restraints. Surveying the local community was used because of the location, the need, and the target market of the camp itself. Interviews with individuals at the corporate office were used to identify the probability of implementing the camp and to adjust the strategies to match the company’s vision. B. Internet research was conducted through search sites such as Google.com, Yahoo.com, and Bassproshops.com. Surveys were conducted at the local community college, through email forwarding, and at the local Bass Pro Shops Pearl store. Interviews were conducted over the phone. SECTION 4 – Findings and Conclusions of the Study A. According to the Alaska Department of Fish and Game, children are not benefitting from technology. The results of decreased interaction/awareness of the environment, being referred to as “disconnected” from nature, are leading to high obesity rates, lower school achievement, attention deficit disorder, poor health (hypertension, poor diet, and diabetes – to name a few), less selfdiscipline, and reduced cognitive, creative, and problem solving capabilities. According to Parents & Kids Magazine, a local magazine, there are only 4 locations offering a summer camp to get children in tune with nature in the state of Mississippi, only one of which is within a reasonable distance from the location of Bass Pro in Pearl, and all options are on a weekly camping term. According to the Better 5|Page Business Bureau and Charity-Charities.com, there are over 20 accredited and private charity organizations that support the local children of Mississippi that are in need of funds. After compiling the survey results, they had an astonishing result of 100% interest in a children’s camp in the local tri-county area, primary interest of a Rankin County location. Majority ruled that a nonprofit, green facility was preferred. Interest in Camp Location Hinds YES Rankin NO Non-Profit Madison "Green" Facility YES YES NO NO B. In conclusion, the findings from the research methods concluded that there is a need, want, and desire for this children’s campground. The community and the company would be behind the strategic move of implementing this camp 100% and would both benefit 100%. SECTION 5 – Proposed Strategic Plan A. The primary goal/objective is for Bass Pro Shops to enhance its corporate social responsibility program with the addition of a children’s campground. The facility will be built with “going green” ethics and the proceeds will benefit local charities, such as Blair E. Batson Children’s Hospital. This campground will 6|Page have many benefits. Short-term benefits include awareness for the retail store from advertising and publicity of the campground and increased jobs within the community for construction of the camp. Long-term benefits include increase in jobs and tourism in the community, increased customer loyalty, brand awareness, and sales for Bass Pro, ability to reach new markets, company expansion/growth, educating and motivating our youth, building relationships with the community, and addition of other camp sites to benefit additional communities in the future. Philanthropy is the most common approach of corporate social responsibility programs, and with the introduction of this children’s campground, Bass Pro Shops will cover many aspects of corporate social responsibility including (but not limited to) monetary donations and aid to local organizations, advocating the preservation, restoration, and improvements of the environment with a “green” facility and camper’s educational classes, and building skills and long-term relationships with the children and residents of the local community. B. Activities and Timeline Based on the timeline in the chart on the right, the proposed strategic plan of opening the children’s campground will be completed within 9 months from the introduction and approval of corporate office. This will ensure enough time to set up a state-of-the-art facility, but will also keep the community interested with its’ completion being within a reasonable time frame. The more excitement and interest built for this camp, the Activity Corporate Approval Obtain Permits Obtain Insurance Purchase Land Complete Blueprints Set Up Construction Create Web-Site and Marketing Materials Set Up Camp Activities Complete Construction Recruit “Campers” Hire Staff Train Staff Grand Opening Advertising/Publicity Complete Within 1 mo. 1 mo. 1 mo. 1 mo. 60 days 90 days 6 mos. 9 mos. 10 mos. 9-12 mos. 1 year 1 year 1 year Throughout more value created by this program and monies distributed to charities. 7|Page C. The budget chart below is based on research figures from . These figures will decrease with any additional donations and grants from the government and community, along with the use of recycled materials in construction and activities of the campground. D. The return on investment will be measured by a metric/concept called SROI, or social return on investment. According to the SROI Network’s “A Guide to Social Return on Investment”, “Social Return on Investment (SROI) is a framework for measuring and accounting for this much broader concept of value; it seeks to reduce inequality and environmental degradation and improve wellbeing by incorporating social, environmental and economic costs and benefits. Both large and small businesses can use SROI to assess risks and opportunities arising from the impact of their products and services on their stakeholders e.g. employees, suppliers, customers, the environment and their local communities.” This metric is done is five stages, with an optional sixth stage. The process is simplified as: STAGE 1: Establishing Scope and Identifying Stakeholders, STAGE 2: Mapping Outcomes, STAGE 3: Evidencing Outcomes and Giving Them a Value, STAGE 4: Establishing Impact, STAGE 5: Calculating the SROI, STAGE 6: Reporting, Using, and Embedding. A sample of calculations can be found in the appendix. This metric would be the most accurate to calculate the return on investment of the campground because it implies that the return in SROI is a form a value rather than just a monetary figure. 8|Page SECTION 6 – Bibliography McMaken, Kyle. (23 Feb. 2009) Bass Pro Shops Review and Recommendations. Retrieved from: http://voices.yahoo.com/bass-pro-shop-review-reccomendations-2691206.html?cat=35 Bass Pro Shops. (5 April 2012) Nature Conservation Organizations. Retrieved from: http://www.basspro.com/webapp/wcs/stores/servlet/CFPageC?storeId=10151&catalog Id=10051&langId=-1&pageID=235 Bass Pro Shops. (5 April 2012) News Room. Retrieved From: http://www.onlinepressroom.net/basspro/ Rankin First. (5 April 2012). Demographics. Retrieved From: http://www.rankinfirst.com/index.php/demographics Melone, Sarah. (6 April 2012). How to Start a Campground. Retrieved From: http://www.ehow.com/how_6592497_start-campground.html ACA. (6 April 2012). How to Start a Campground: General Guidelines. Retrieved From: http://www.acacamps.org/startacamp Meryn, Richard. (28 Nov. 2011). Commercial Buildings are Going Green. Retrieved From: http://www.industryleadersmagazine.com/commercial-buildings-are-going-green/ Unknown. (28 March 2012). Green Building. Retrieved From: http://en.wikipedia.org/wiki/Green_building U.S. Census Bureau. (2010) Social Characteristics. Retrieved From: http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src=bkmk U.S. Census Bureau. (2010) Economic Characteristics. Retrieved From: http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src= U.S. Census Bureau.(2010) Demographic Characteristics. Retrieved From: http://quickfacts.census.gov/qfd/states/28000lk.html Alaska Department of Fish and Game. (11 April 2012) Camps & Skills Clinic. Retrieved From: http://www.adfg.alaska.gov/index.cfm?adfg=outdooreducation.foryouth BBB. (11 April 2012) List of Local Accredited Charities. Retrieved From: http://ms.bbb.org/list-of-local-accredited-charities/ The SROI Network. (11 Jan 2012) A Guide for Social Return on Investment. Retrieved From: http://www.thesroinetwork.org/publications-uk/doc_details/241-a-guide-to-social-return-oninvestment-2012 Suttel, Robin. (3 April 2006). The True Costs of Building Green. Retrieve from: http://www.buildings.com/tabid/3334/ArticleID/3029/Default.aspx#top 9|Page