...1. Summary Furniture retail in the United States is a very important aspect for the country's economy. The market size of Furniture and home furnishing stores had expanded from $52.34 billion worth of sales in 1992 to $90.07 in 2011.This is expected to increase to about 96 billion U.S. dollars in 2016. Accordingly, city of Irvine has the brisk demand for purchasing home furnishing. Because there are a lot of university student using furniture in the short term. The research clarifies the possibility for opening a new home furnishing shop. It will take about 7 weeks and costs $36,320. 2. Background a. Market situation Industry: Furniture and home furnishing Area: Irvine “Household” and taxable sales for Home Furnishings and Appliance stores in Irvine “Sales per store” for taxable sales for Home Furnishings and Appliance stores in Irvine b. Product Furniture is a problem to almost every new student that have to move close to university campus. We will open a store nearby UCI campus, which have most new students in the area every quarter. Our shop will provide all kinds of convenience that students should have, by example: easy transportation service, affordable and durable furniture, used furniture, fitting measurement, etc. We will conduct focus groups and surveys to find out where is the right place to open our store, which kind of furniture the students want, which is...
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...1. Of what value in achieving quality are the actions this company takes in store appearance, warehousing, delivery, and customer relations? Can you think of other aspects of quality that have not been mentioned here? Quality is important with this company. One of their requirements is to focus on high quality on all aspects of the business. Starts with how a customer satisfaction is much taken cared of, from arriving, entering the store, approach of visual marketing in pleasing the desire of the customer for new ideas, up until a customer decides with full service. Most of the areas of service were covered with extreme tolerance to provide extreme of service. But perhaps it would also help if the storage of these furniture where also mentioned. There are certain requirements per type of materials as to how they handled in warehouse storage. An example is the temperature requirements for certain fabrics not to fade or for its color and quality to be maintained. This is the same with leathers, wood, electrical fixtures, etc. But, as far as showroom is concern they have their own temperature and environment control. 2. Do you agree with the franchisee’s statement at the end of the case? Why or why not? “THE BEST WAY TO ASSURE QUALITY IS THROUGH PRODUCT INSPECTION AND MARKET RESEARCH.” I agree with the franchisee on the above statement. This is brought about by two things: the product itself and how it can be sold and its demand. The end part of the statement is most...
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...CHAPTER I Technical Aspect This chapter describes the activities to be done before the business will operate as a business. -Target Opening Date: July 1, 2009 Table 1 Pre-Operational Activities |Business Plan |Target Dates | |Renovation of the Business Space |June 8- 15, 2009 | |Application of Permits and Licenses |June 11-25, 2009 | |Selection and Buying of Equipment and Office Furniture |June 16-25, 2009 | |Arranging and Positioning of Equipment and Furniture |June 26-27, 2009 | |Trial Operation |June 28, 2009 | |Normal Operation |July I, 2009 | | | | Table I shows the different activities that “YOUR CHOICE FOOD SERVICE” will have to accomplish from the month of June 2009 until the business will start on July 1, 2009. It reflects the planned activities before the...
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...Grant! Travis Campbell Brad Zoltak Marisol Serdiouk December 14th, 2009 Executive Summary Herman Miller, Inc. is a mid to high-end furniture manufacturer primarily concentrated in the business and institutional market. The industry is experiencing significant declines in sales due to poor macroeconomic conditions. The Company is well positioned as one of the top-tier firms in the industry, but its business model is highly sensitive to the overall economic cycle. First and foremost, Herman Miller needs to continue to successfully execute its core office furniture business. To reduce its vulnerability to downturns in the overall economy, Herman Miller should work to raise its brand awareness and fully leverage its products in adjacent markets. Recommendations • To ensure that Herman Miller capitalizes on its near 30-year expansion into the healthcare sector, the Company should increase the resources it dedicates towards healthcare and implement the following initiatives: o o Develop a patient bed to enable Herman Miller to offer a complete patient room solution. Consolidate its healthcare distribution network by appointing the best dealers in a given territory and enabling them to offer the Company’s full healthcare product line. Ensure that these dealers are fully trained on the Brandrud and Nemschoff offerings. o Once the office furniture industry rebounds, Herman Miller should begin to consolidate its Brandrud and Nemschoff brands under Herman Miller Healthcare. • To increase...
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...Introduction Herman Miller, Inc. is primarily concentrated in the business and institutional market. Herman Miller is one of the leading players in the US office furniture industry with a 12% market share. Over the last several years, the entire industry has experienced significant declines in sales due to poor macroeconomic conditions. However, Herman Miller has managed to outperform most of its competitors in terms of profitability, illustrated through strong operating margins and return on sales. Herman Miller has a strong reputation for high quality, innovative products, strong customer service, high customization, and reliability. This strong brand equity enables the company to leverage its brand strength across different market segments, leading to extended customer reach. We have analyzed the company and the industry, and we have chosen the best strategy to expand customer reach, expand Herman Miller’s healthcare market, and increase sales revenue. We have chosen a three-year implementation plan that will bolster sales revenue in the healthcare industry and expand the company’s customer base. Industry Analysis As part of our analysis of Herman Miller, we have analyzed the five forces that affect the office furniture and healthcare industries. The five forces include competitive rivalry, threat of new entrants, threat of substitutes, bargaining power of suppliers and bargaining power of buyers. Competitive Rivalry Herman Miller operates in a highly competitive...
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...Insight to Furniture Industry in Mirpur | SMEs in Bangladesh | | Prepared For:Sheikh Morshed JahanAssociate ProfessorPrepared By:Group 1, Section B, BBA 20thMushreka Afroze Khan RH 68Adnan Faiaz Mahmud ZR 73Rezwan Arefin ZR 75S.M. Samiuzzaman ZR 77Wasif A. Khoda Rubab ZR 104Mehnaz Fatima Khan RH 107Ayman Ahmed ZR 108Sadia Afrin RH 117Ryan Fardin Sakib ZR 119Zahin Azad Moslem ZR 121Md. Samiul Hossain ZR 125Institute of Business Administration, University of DhakaApril 27, 2014 | | Contents Introduction 3 Industry Overview 3 Furniture Industry in Mirpur 3 A Brief Introduction to SMEs 4 The Entrepreneurs 5 Current Scenario 6 Factors affecting Industry 6 Factors affecting company 6 Perception of Entrepreneurs 7 Triple Triangle Framework Analysis 8 Firm Level Factors 8 Industry Level Factors 10 Firm Level Industry 10 Sustainable Market Enterprise Competitiveness Framework 12 Grid of Institutional Mandate 14 SWOT Analysis 15 So what? 18 Conclusion 19 | Introduction Industry Overview Traditionally furniture industry in Bangladesh developed as cottage based industry. It is in the 90’s when the furniture industry in Bangladesh transited from cottage based industry to mechanized mass production oriented industries. The main varieties of products are wood, processed wood & Medium Density Fibre board (MDF), and laminated board, particleboard, rattan/bamboo and wrought iron furniture. Around 70% production of furniture sector of...
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...Palliser Furniture Ltd. (Case No. 1) I. Problem statement: Arthur DeFehr is confronted with a situation where he along with the board must decide how to expand the company; if so, when and where this expansion should take place. This can be either in Mexico and/or China. II. Alternatives: 1. Status Quo. Do not do anything different from what the company is doing now. 2. Build a factory in Mexico. 3. Establish a joint venture with the Chinese company. III. Analysis: 1. Status Quo. Do not do anything different from what the company is doing now. According to the company's condensed income statement as of December 31, 1997 Palliser Furniture Ltd. did very well financially. The net income for the year grew at an astonishing rate of 92.6% from last year’s net income of CDN$5.96 million to CDN$11.478 million. The sales volume increased 16.9% from CDN$277.21 million to CDN$324.061 million. Yet, the cost of sales increased by only 14.5% from CDN$ 182.091 million to CDN$208.532 million. This difference in the increase rate of sales volume and the cost of sales has generated greater profit margin. Even though, the company has done very well throughout the years, can Palliser afford to stop being innovative—in its product as well as its market strategy—and still maintain its market share? Most analysts would say yes, if they limit themselves to only Palliser's income statement. However, the international market is a dynamic environment. It's constantly changing...
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...A. Cover Letter G-wellery Sdn.Bhd. Lot 12, Jalan Krubong 5, Taman Krubong Jaya, 71250 Krubong, Melaka. ------------------------------------------------- Tel: 09-6578543 October 19, 2011 Dear Investors, I am pleased to submit this proposal from the G-wellery Sdn.Bhd. requesting an investment of RM50,000 per year to support our company’s operation. G-wellery Sdn. Bhd. has founded in 1988.It has successfully established itself as one of the pioneers in the manufacturing of high technology furniture in Malaysia under its own reputable brand name “ G-wellery”. Since its early beginnings, G-wellery has been operating as a wood-based panel system office furniture manufacturer. In 2011, we upgraded our production facilities to produce a series of “ High Technology Wardrobe” home furniture to meet the ever changing demands of the room space with people as the center of our consideration – best quality and competitive price. I appreciate your consideration of this proposal. Please feel free to call me if you have questions or would like us to arrange a site visit. I look forward to meeting with you soon. Sincerely, AMANDa (Amanda July) Secretary of G-wellery company B. Cover Page Business Plan Make your life easy, with G-wellery 19 October 2010 G-wellery Sdn.Bhd. Lot 12, Jalan Krubong 5, Taman Krubong Jaya, 71250 Krubong, Melaka Tel: 09-6578543 C. Executive Summary/ Abstract G-wellery has been riding...
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...designer furniture at lower costs. * IKEA enjoys economies of scale. * Highly focussed on quality. * IKEA’s flat packaging reduces costs and makes it easier for customers to transport * The company culture matches its external image of cost saving. * Strong in-store experience – unique, experiential, “modern theme parks”. Weakness * IKEA was trying to sell Scanvadian designs which were initially not accepted in U.S. * Lower level of customer service * Niche market * Too much emphasis on cost-saving. * Product and style selection is limited. Opportunities * International expansion: IKEA are moving from International to global status through the development of Asia and Eastern European models. * E-commerce: Will reduce pressure from stores to a certain degree and hence will improve service quality. * Traditional product for IKEA has been within value, low price high volume product however the movement into mid and higher price points with more stylish image opens up a new segment for IKEA. * The budget shopper market is growing, especially among college students and in metropolitan areas Threats * Within growing competitive retail markets mainstream retailers are beginning to mirror the model of low cost value flat packed furniture which will impact on the buoyancy of IKEA. * After sub prime crisis in US there is an economic concern which can be a threat to IKEA’s performance. * Plenty of competition. The furniture retail segment...
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...by: Summary: Fred Filmore established Filmore Furniture Ltd. in 1970, this particular company designs, manufactures, and sells colonial maple furniture to small retail stores and major chain stores. In 1983 Phil Filmore took ownership of this company and further enhanced it through modernizing the plant, as well as introducing aggressive management skills, new marketing strategies, and merchandising ideas, causing an increase of $3.8 million in sales income within a ten year time frame. The business was very successful, however its profits and cash flow was not adequate to afford paying for modernization programs, which resulted in selling 31% of the company shares to 5 investors. In 1999, Phil Filmore died in a car accident leaving his debt, and 63% of the company’s shares, to his wife Lucinda, who faced with 3 decisions: to retain the ownership of the company, merge with another company within the industry or simply sell it. Statement of Problem & Objective: Mrs. Filmore has to make a decision regarding this company that will release her from the entire debit left behind, as well as maintaining her financial needs and high quality standard of living. To achieve this, Mrs. Filmore has to choose 1 of the following options: * to retain the ownership of the company, * merge with another company within the industry * Sell it. SWOT: Strengths * Modernized manufacturing facilities enable output of furniture at a much lower cost than before. * Currently...
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...Filmore Furniture Ltd Company Background * Incorporated in 1970 by Fred Filmore, a sole proprietor. * In 1983, Phil obtained his father’s furniture business and acquired the management of the business. * In 10 years the sales income increased to $5,100,000 and employed 58 full-time employees. * He is an aggressive manager and strategist. * During 1986 to 1993, Filmore Furniture modernized its manufacturing facilities. * Phil owned 63% of the share, 31% the five investors and the rest is retained by the employees of the company. Problem She is having a tough time choosing between whether she should sell the business, or manage the business herself. Objectives Choose the best option that will favor in Mrs. Lucinda Filmore, and provide her with an income that would benefit her financial situation. Also, an income to assist her to have a good standard of living for her and her children for the years to come, with the lowest short- and long term debt possible. Situation Analysis PEST Analysis Political:- * Canada-US Free Trade Agreement (1989) brought increased import competitors from larger American companies. * Opportunity to export in large US market Economical:- * During recession, additional fixed cost may be risky * The furniture industry is very competitive Social:- * Innovations resulted in good reputation, and goodwill in the furniture industry * Relationship with financial institutions; Customer...
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...FILMORE FURNITURE LTD Filmore Furniture Ltd. manufactures colonial maple furniture. The company was incorporated in 1970 by Fred Filmore, who had been the sole proprietor prior to that. In 1983, Fred Filmore retired and sold his business to his only son Phil, age 38, for a small sum. That year, annual sales totalled $1,300,000. Phil Filmore was an aggressive manager and strategist. He modernized the plant, introduced new product designs and accessories such as mirrors and lamps, and implemented new marketing strategies and merchandising ideas. These innovations were quite successful, and helped the company to establish a good reputation in the furniture industry. From 1983 to 1993, sales income increased to $5,100,000, and the company had 58 full-time employees on the payroll. While sales grew quite strongly, the highly competitive nature of the furniture business held profits to relatively low levels. In 1998, the company's after-tax profit amounted to $204,000, or 4.0 percent of sales income, which was very close to the industry average. Phil Filmore was clearly in charge of the key activities of the business, including all of the strategic decisions mentioned earlier. The company employed five sales representatives who called upon the smaller accounts, but Phil personally handled the responsibility of calling on the major accounts. Of particular importance were the company's relationships with major chain stores that Phil had developed in the years after he took...
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...Analysis 6 Market Objectives 8 Marketing Strategies 8 Explanation of Strategies 10 Tactics and Action Plan 10 Monitoring Procedures 11 References 12 Introduction Company G is a world-renowned electronics company whose core mission is to improve the quality and convenience of its customers’ lives. Concentrating on this mission, Company G will soon be introducing to market a new series of furniture products with built-in inductive, wireless charging of mobile devices, beginning with a set of night stands that can also double as end tables. The tables will also have the ability to power lamps and other devices that are compatible with inductive power transfer. Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.” The Product & Support of Mission Statement A next-generation bedside table that can easily double as a living space end table, these pieces will include built-in inductive/wireless charging. These sharply designed, high-quality pieces of furniture will be able to charge most cell phones and tablets simply by placing them on the table top. Once plugged into an electrical outlet, the tables will also have the ability to power inductive-powered lamps and other electronic devices, while providing the sharp design consumers have come to expect from Company G. Need to charge your phone? Simply place it on the table and watch the inductive charging mat...
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...found in the Strategic Management Text book. This analyses the strategies used by IKEA to gain competitive advantage in markets outside its original area. The report begins by providing a background into IKEA. It studies International Business Level Strategy and the three international corporate level strategies. The case study goes into informing its target market and pricing strategy, which is already discussed. This case study further says how different people in different parts of the world thinks about IKEA, how elegant their designs are and how affordable for them to purchase IKEA products. Some of IKEA’s main markets are in three of the fastest growing markets such as Russia, US and China. IKEA store bring out products such as furniture to small product like a scented candle. IKEA has over 1300 suppliers in about 53 countries. They further have 12 full time in- house designers with 80 free lancers and other production workers to identify the correct raw materials and produce products efficiently and cost effectively. Primarily, IKEA produced standardized products however; this international strategy did not work for one of its vital markets that is, US. Therefore, they had to emphasize on taking corrective actions. The report also analyses the entry methods used by IKEA and its sustainability. IKEA Case Study 2 MAN3503-Strategic Management Table Of Contents Introduction 4 History 4 I/O model 6 The External Environment The Industry...
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...architecture before completing her degree at the Milan Polytechnic in 1989 under Achille Castiglioni. Urquiola worked as an assistant to Castiglioni and Eugenio Bettinelli in Milan and Paris from 1990 to 1992, and around this time she started working for Milanese furniture company De Padova and co-designed several pieces with the legendary Vico Magistretti. While at De Padova, she continued designing interiors, showrooms and restaurants in association with architects de Renzio and Ramerino. In 1996, she left De Padova and became the head of the design division at Piero Lissoni’s Lissoni Associati and worked on projects for major furniture and homewares brands, like Alessi, Artelano and Kartell, until 2000, when she left to begin designing under her own name. She opened her own studio in Milan the following year, focusing on architecture, exhibitions and product design. The release of the Moroso upholstered-seating products ‘Lowland’ and ‘Lowseat’ (2000), and her ‘Fjord’ chair (2002) finally got Urquiola noticed, but it wasn’t until 2003 that industry awards began to come her way. Announced Elle Decoration’s International Designer of the Year, Urquiola’s ‘Fjord’ range was then voted Best System at the IMM Cologne furniture fair. Her first design for Foscarini – the ‘Bague’ light – also won a Good Design award at the Chicago Athenaeum, and a large amount of press coverage was given to her ‘Clip’ bed for Molteni&C and ‘Lazy’ chair range for B&B Italia. In 2004, she made...
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