...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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...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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...Sheridan College | Filmore Furniture Ltd. | Case Study Analysis | | Instructor R. MichaudOctober 1,2014 ByCassandra KaslerAbdul QadirMuhammad Jamal | | Summary Fred Filmore incorporated Filmore Furniture Ltd. in 1970 as a sole proprietor. The company designs, manufactures, and wholesales colonial maple furniture to small retail stores and major chain stores. In 1983 Phil Filmore, Fred’s son purchased the company from his father who was going into retirement. He developed the company through modernizing the plant, as well as introducing assertive management skills, new marketing strategies, and merchandising concepts. This generated $3.8 million in increased sales income within a ten year time period and enhanced the reputation of the company. However its profits and cash flow could not meet the expense of paying for the modernization, which resulted in 31% of the company shares being sold to 5 local investors. Phil Filmore pass away in a car accident in 1999, leaving his debts, and 63% of the company’s shares, to his wife Lucinda who was a house wife with little to no experience and knowledge of how to run a business. Problem Statement Lucinda Filmore has to decide what to now do with the company her husband has left behind for her. She has two children to raise, is unemployed with minimal skills and has a high standard of living. She needs to decide what to do with the company that will help her be freed from the debit left behind, in addition to sustaining...
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...Date: Wednesday February 06, 2013 Case Title: Case#1-Filmore’s Furniture Group Members: Mohammad Adeel, Jaimie Mejia, Shan Pasha, Satnam Saini and Manish Sharma. 1. Case Summary - Key Events - Issues a) Summary: During an early snowstorm in 1999 Mr.Phil Filmore died in a car accident, leaving his wife with all his shares. Mrs. Lucinda Filmore has to make an important decision on rather to sell or continue on with the furniture business, her husband has diligently worked hard on. She has not worked for 14 years leaving her job to take care of her two children. She has not been informed or been involved with her husband’s company. She does not believe she can manage it, having the decision to hire within the company or outsiders for a management position. But then again, she has the advice on perhaps just selling the business. With all the different suggestions and advice she feels more confused about this while situation. What should she do? b) Key Events: - 1983 Phil Filmore become sole proprietor of Filmores Furniture. -Invited five local professional people to become shareholders of the company. -Phil Filmore owned 63 percent of the shares and the five investors 31 percent. -1999 Phil Fimore dies in a car accident. c) Issues: Leaving 63 percent of the company's shares, to his wife, Lucinda. Phil's life insurance provided a disappointingly small amount of money for Mrs. Filmore. Since in 1999 the standard of living had change considerably it was lower...
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...SWOT Analysis (Filmore Furniture Ltd) Strength - Phil Filmore was a good and talented manager because he is well – organized, modernized the plant, create new product designs and accessories and come up with many ideas and marketing strategies, so make the company run well and more profitable - Have a good partner + Jean Lechaise who is an excellent operation manager and work efficiently, so he produces high quality products with timely. - Phil has a good relationship with major chain stores that help him Weakness - The profit margin of the furniture industry is low so he is not able to afford the modernization of the manufacturing facilities. - Older staff + Many of the staff are aging and wanting to retire soon, specially trusted Lechaise does not want to assume responsibilities for the business (would like to retire in 3 – 4 years) - Product line is limited to a single type of furniture (colonial maple furniture) this means that buyers may pursue suppliers with a more diversified product line - High competitive market that after – tax profit was 4% of sales income, so make the profits relatively low levels. Opportunities - Anticipating Canada-US Free Trade Agreement (1989) so + The company has opportunities to expand into US market + Low Canadian dollar increases sales to the US by making furniture less expensive than US imported furniture. Threat - Canada – US Free Trade Agreement + Increased import competition from larger...
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...Assignment 5: Filmore Case Due Date: February 02, 2013 Submitted 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...
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...62118 0/nm 1/n1 2/nm 3/nm 4/nm 5/nm 6/nm 7/nm 8/nm 9/nm 1990s 0th/pt 1st/p 1th/tc 2nd/p 2th/tc 3rd/p 3th/tc 4th/pt 5th/pt 6th/pt 7th/pt 8th/pt 9th/pt 0s/pt a A AA AAA Aachen/M aardvark/SM Aaren/M Aarhus/M Aarika/M Aaron/M AB aback abacus/SM abaft Abagael/M Abagail/M abalone/SM abandoner/M abandon/LGDRS abandonment/SM abase/LGDSR abasement/S abaser/M abashed/UY abashment/MS abash/SDLG abate/DSRLG abated/U abatement/MS abater/M abattoir/SM Abba/M Abbe/M abbé/S abbess/SM Abbey/M abbey/MS Abbie/M Abbi/M Abbot/M abbot/MS Abbott/M abbr abbrev abbreviated/UA abbreviates/A abbreviate/XDSNG abbreviating/A abbreviation/M Abbye/M Abby/M ABC/M Abdel/M abdicate/NGDSX abdication/M abdomen/SM abdominal/YS abduct/DGS abduction/SM abductor/SM Abdul/M ab/DY abeam Abelard/M Abel/M Abelson/M Abe/M Aberdeen/M Abernathy/M aberrant/YS aberrational aberration/SM abet/S abetted abetting abettor/SM Abeu/M abeyance/MS abeyant Abey/M abhorred abhorrence/MS abhorrent/Y abhorrer/M abhorring abhor/S abidance/MS abide/JGSR abider/M abiding/Y Abidjan/M Abie/M Abigael/M Abigail/M Abigale/M Abilene/M ability/IMES abjection/MS abjectness/SM abject/SGPDY abjuration/SM abjuratory abjurer/M abjure/ZGSRD ablate/VGNSDX ablation/M ablative/SY ablaze abler/E ables/E ablest able/U abloom ablution/MS Ab/M ABM/S abnegate/NGSDX abnegation/M Abner/M abnormality/SM abnormal/SY aboard ...
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