In the ever-changing economy of today, many businesses are closing or packing up and heading overseas to maximize profits and stay afloat in the blunder. However, there are still many U.S. based companies that are remaining strong due to their specialty and providing a specific product to a specific market. It is companies like this that are in high demand, while sometimes slow, will always be necessary. This is so as many parts are custom and specific to the application and the platform in which they will be used. Edmunds Corrugated Parts & Services is one of these companies rooted in the Shenandoah Valley of Pennsylvania. This company provides specialized custom made parts to fix failed parts on machines that produce corrugated cardboard used in the construction of cardboard boxes. However, due to the downturn in the economy and advances in new materials used for shipping, it has had a negative effect on Edmunds Corrugated Parts & Services. Edmunds Corrugated Parts & Services have been around for many years, growing from a barn sized building to a 50,000 square-foot factory. The company has employed locals from around the area, many of which are ready to retire. One of Larry Edmunds’ main concerns is how he will replace these highly skilled and experienced individuals once they retire. Larry feels if there are new hires the quality of the finished product may decrease significantly, having a negative on Edmunds Corrugated bottom line. Larry Edmunds’ second major concern and causal for some loss in profits, was the emergence of new technology (which broke less), and the advancement in alternative packaging materials other than the traditional cardboard box, strategies which he failed to adopt. Further, this new technology put many smaller companies out of business or forced them to merge with other companies, making a shift and almost forced to operate overseas to generate profits. These types of companies are highly competitive, and many times, difficult to beat, causing businesses such as Edmunds Corrugated Parts & Services to close up shop. They are able to produce a product much quicker and one of high quality. However, these large conglomerates can’t offer the personal bond that some smaller company’s can. By entering into a joint venture the two companies can raise the capital needed to further the company, making greater profits. While this decision may be good for the two companies, it has a negative effect on companies such as Edmunds Corrugated Parts & Services, making it hard to drum up the business needed to remain profitable. What led to Edmunds Corrugated Parts & Services’ downfall was its failure to change with the times and the downturn in the economy. It was nothing necessarily that Larry and his company did wrong; the emergence of new technology and packaging materials surpassed what Edmunds Corrugated was founded on and could offer. While there is still a great demand for their services, this demand has become less frequent due to metallurgical advances in alloys that are stronger and have extended wear characteristics. Building the machines used to produce cardboard with better metals allows for less down time of the machine, which in turn means fewer profits for Edmunds Corrugated Parts & Services, negatively affecting their bottom line. To address the first pressing issue of stagnate profits, Larry Edmunds must come up with a creative strategy to revamp his company. To address the first issue of not being able to recruit highly skilled workers that could easily make a transition into the vacant spot of the retired worker, Larry could offer these highly skilled individuals an added bonus before they retire. This bonus would come from the soon-to-retire individual passing on his knowledge and techniques to a new hire. This will allow and ensure that Edmunds Corrugated will continue to produce the quality replacement and repair parts they are known for. Further, Larry Edmunds may want to offer a more competitive salary which would attract highly skilled individuals and would provide the company with the diligent hard worker they are searching for. By offering a bit of a higher salary Larry may be able to grab hold some of the younger locals that may be looking to move out of the area for better employment opportunities. This strategy will prove to be effective and provide Edmunds Corrugated with the type of worker they need to be successful and continue to make profits in the future. To address Larry Edmunds’ second major concern, Larry may want to expand his business and produce replacement parts, not only for the machines used to produce cardboard, but all machines used in the production of packaging materials of any type, from plastics, to recycled cardboard, even the machines that produce the bubble wrap to protect items during the shipping process. This may be a huge undertaking, but may be a much needed shift in the company. This shift in the company will provide Larry Edmunds with the profits he once had seen produced in the early stages of growing his company. Furthermore, Larry may want to move his factory closer to the coast, which will drastically cut shipping and freight costs. This higher populated area will also provide a larger employee pool that can offer some very prospective future employees. The hardest strategy to implement would be offering a high salary to attractive highly skilled individuals. This may be very difficult for Edmunds Corrugated to do as they are trying to increase their profits, not reduce them further. However, if they make this sacrifice now and offer a high salary, it may prove beneficial in the future. This is so as the worker will develop in the company and may introduce their own creative ideas on how to make production of the products more efficient and of higher quality. These highly skilled individuals are crucial to Edmunds Corrugated, especially if they decide to make the shift and produce parts for all types of packaging product machines. These two strategies can work hand in hand in growing the company. Growing the company with skilled workers combined with new technology and services will provide Larry Edmunds with the increase he is looking for on his bottom line. To prevent potential crises that may pop up in the near future, Larry Edmunds may want to keep up with the times using new technology and explore options that look promising to further his company. It may be a wise choice for Larry to make sure its technology is up to date and performing at optimum levels. Further, when updating the technology it may also require a new hire that understands this new technology. For example, the older skilled worker may make a particular part on a lathe whereas the new technology oriented worker can punch in a few measurements and make the same part in a fraction of the time. Keeping up with technology and employing skilled workers will ensure that there are no surprises that will hinder the progression of Edmunds Corrugated Parts & Services. The blundering economy of today has caused a multitude of business to close up shop, mainly due to increased overhead costs that exceeded and broke into the company’s profits. However, if one can be creative in formulating a failsafe business plan that can keep up with the times by frequently introducing new technology, the company should remain a success, even in toughest of economic times. It is imperative that once a good employee is found, the employer holds onto this employee, training them on the latest technology the company has to offer. Although new technology is crucial, the skilled individuals who operate this technology are of great value to the company as well. If Larry Edmunds utilizes the aforementioned strategies from above, tailoring them to each specific situation, Edmunds Corrugated Parts & Services will surely succeed, generating great profits as they once did.