Lost Creek Angling: Fishing for Profits and Navigating Mission Drift
(9 pages of text)
Lost Creek Angling Co. (LCA), a fly-fishing operation accessible by helicopter, operated off the grid in a remote location on the Wigwam River, in southeastern British Columbia, Canada. LCA’s clients were mainly middle-aged to retired businessmen from the United States. The company’s season consisted mainly of weekends in the summer months, from mid-July to mid-September. The owner, an eco-centred leader who allowed the river to rest between visits and provided nature education to his clients, had a strong reputation within the local community and was closely tied to the business’s brand. At age 70, however, he was considering a slow exit from his business. In the middle of 2015, he was approached by an angel investor but was concerned about losing control and abandoning the environmental mission of the business. In the meantime, LCA had the option of buying more permits to increase the number of guided fishing days (known as rod days) and grow the business in the near term. What was the best path forward for this unique organization and its laudable leader?
This case is suitable for upper-level undergraduate or graduate courses on small business/entrepreneurship, strategic management, or sustainable development/environmental management. After completing the case, students will be able to
- understand how hybrid firm entrepreneurs can struggle with economic performance or business acumen;
- assess the risk of mission drift in hybrid firms;
- evaluate opportunities for capitalizing on an increase in specific market segments that are focused on the environment;
- discuss how effective marketing and communication of environmental missions can extend markets and increase the reputation of hybrid firms;
- understand how firms can achieve both improved environmental or social performance, as well as economic gains, by reconsidering the supply chain and looking for ways to become more environmentally conscious;
- evaluate the importance of the personality of the leader of a hybrid firm; and
- conduct an external and internal analysis of a hybrid company using various strategic frameworks.
Agriculture, Forestry, Fishing and Hunting
Canada, Small, 2015
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