...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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...Yabyabin, Jed Cedric A. Reflection Paper: What Is Strategy? K36 What makes strategy different from operational effectiveness (OE)? Is OE necessary to effective strategy formulation and implementation? Why? Porter (1996) describes strategy as the creation of unique and valuable positioning that requires a set of different activities to make competitive trade-offs and strategic fit that creates competitive advantage and superior profitability. Operational effectiveness, on the other hand, refers to performing similar activities better than the rivals through benchmarking and incorporating best industry practices (Michael E. Porter, 1996). Porter (1996) discusses that strategy aims to position the company in performing different activities from its competitors or perform similar operational activities in different ways; whereas operational effectiveness presents how the company compares, acquires, and improves similar operational functions of its competitors. Although operational effectiveness may have its benefits of building efficiency and productivity, it is insufficient and unnecessary to the formulation and implementation of strategy. This is because it drives competitive convergence (Michael E. Porter, 1996) that makes the company homogenous to the other companies in the same playing field for incorporating same operational activities (despite making them “better”). With this, competitors can and may imitate certain management practices, technologies...
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...evaluate the market opportunity for IKEA in Bangalore, India Marketing Research Problem: 1. To assess the opportunities for furniture industry in Indian market 2. To identify the segments and target market relevant to the product line of IKEA 3. To determine the branding and positioning strategy for these target segments 4. To evaluate the sustainable competitive advantage of IKEA in Indian market 5. To evaluate the effectiveness of the IKEA retail concept in Indian market Components of MR problem: S.No. | Marketing Research Problem | Components of the problem | 1. | To assess the opportunities for furniture industry in Indian market | i) How attractive is Indian market to invest in furniture industry? ii) Evaluation of Indian organized and unorganized players and their unique features in the market | 2. | To identify the segments and target market relevant to the product line of IKEA | i) What is the customer profile in Bangalore w.r.t age, income, marital status, occupation and socio economic classification? ii) Who are the potential customers for the IKEA products? iii) What are the behavioral characteristics of the targeted customers? | 3. | To determine the branding and positioning strategy for these target segments | i) How do customers perceive and prioritize the key attributes of furniture items? ii) How customers evaluate the existing brands with respect to key attributes? iii) How to position the products to the...
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...policies include child labor laws, safety guidelines, and environmental guidelines. The specialization of the company and their methods of conducting business include their unique type of furniture and shopping method. The company stands out by offering modern style furniture that is typically purchased through their large warehouse style showrooms in which customers pick out their purchases and are responsible for transporting the items themselves. The style is very different than customer service focused furniture stores in that the main idea is to save the consumer money rather than offer a full service shopping environment. The hierarchy is quite unique as well within the structure of IKEA as it has a very complex structure. The founder of IKEA does not technically own the company since it is held by a private foundation. The private foundation owns a group that controls the individual operations of the stores. IKEA utilizes technology to its fullest ability by simplifying and streamlining processes and operations in order to maintain its goal of providing solutions. Sustainability is a large part of the company’s focus and they take pride in their innovation and sustainable home furnishing offerings. These offerings allow the company to maintain a competitive advantage over other furniture products. They also offer tips and recommendations to customers to maintain an eco-friendly way of life. As far as culture goes, IKEA attempts to employ...
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...style you prefer, there is something for everyone. Anybody can make a good-quality product for a high price, or a poor-quality product for a low price. But to make good products at low prices, you need to develop methods that are both cost-efficient and innovative. That is why at IKEA we approach things a little differently. b. Price: In IKEA the product are shipper than Rooms to Go. For example sofas in Ikea are approximately $200.00, when the similar sofa in Rooms to Go will be $300.00 more. c. Place: Ikea is a big furniture store localized in Millennia Mall. The location is perfect because it is a commercial area in a safe neighborhood near a well Known mall. It will draw many more customers because it is also a touristic main point. The place is different and there are just a few of them in some cities in USA. Here in Orlando there is only one. It is more modern than Rooms to Go. Rooms to go are more traditional and classic. It is a typical furniture store. It doesn’t a lot of option like Ikea. d. Promotion: Ikea has a catalog that is delivery by mail, while Rooms to go has a flier in the newspaper. Ikea is well known or not encouraging personal selling on general. The customers make their own choices. 2. Compare IKEA with any major competitor of home furnishings in...
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...Resource Management (CRM), was nowhere to be found. When a customer placed an order for a custom upholstery couch, a customer service representative (CSR) told the customer that the couch would arrive in ten weeks. Ten weeks later, however, the couch wasn’t ready and no one knew when it would be. RULES BROKEN BY MG+BW Produce mission-style furniture, not mission statements. Until recently, furniture manufacturers’ idea of mission was limited to a style of heavy oak furniture. Gold and Williams had a clear sense of how they wanted to run their business, so they wrote it down. Following is a summarized version of MG+BW mission: • Guarantee comfort; • Minimize costs to ensure price points represents understandable value for customers; • Enforce rigorous standards for quality materials and quality control to achieve no returns and real customer satisfaction; • Sincerely treat all customers as we want to be treated; • Create styling that we want in our homes – inviting, warm, an oasis of quiet and calm; • Manufacture products in a way that preserves our rich environment for future generations. Make profit from cutting corners. Furniture manufacturers are...
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...Project Report on “A study on segmentation, targeting and positioning strategies of Kosmo products at Spacewood Furnishers Pvt.ltd.Nagpur” Submitted to SHRI RAMDEOBABA COLLEGE OF ENGINEERING AND MANAGEMENT, Nagpur In partial fulfillment of the Requirements for the Degree of MASTER OF BUSINESS ADMINISTRATION (MBA) 2014 In specialization Marketing Submitted by Project Guide SHRI RAMDEOBABA COLLEGE OF ENGINEERING AND MANAGEMENT, NAGPUR CERTIFICATE This is to certify that the project report be titled “A Study on segmentation, targeting and positioning strategies of Kosmo products at Spacewood Furnishers Pvt.Ltd.Nagpur”is bonafide work of Mr.Abhishek Shukla, student of M.B.A (session 2012-2014), Department of Management Technology, SHRI RAMDEOBABA COLLEGE OF ENGINEERING AND MANAGEMENT, NAGPUR, in partial fulfillment of course in Master of Business Administration (MBA). Dr. (Mrs.) N.V. Shah Dr.Abhijeet Agashe Dr. V.SDeshpande HOD Project guide Principal DEPARTMENT OF MANAGEMENT TECHNOLOGY SHRI RAMDEOBABA COLLEGE OF ENGINEERING AND MANAGEMENT, DECLARATION This is to certify that the project report titled “A study on segmentation, targeting and positioning strategies of Kosmo products at Spacewood Furnishers Pvt.Ltd.Nagpur” that is being submitted by me in partial fulfillment...
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...manufacturer of high quality furniture and bedroom suites entitled the Star Furniture Co. In 1909 the company’s name was switched to the Michigan Star Furniture Company. At the same time, Dirk Jan De Pree was hired as a clerk. Just 10 years later, Mr. De Pree became president of the company. Mr. De Pree saw great potential with the company and soon after talked his father-in-law, Herman Miller, to purchase the company by buying up the majority (51%) of the company stock in 1923. The company name was then changed and named after Herman Miller and remains that way today. Early on, Herman Miller became a company that treated workers very differently. Most manufacturing companies, De Pree stressed that all workers are important individuals with special talents and potential (Adams, S. B., Manz, C. C., Manz, K., Shipper, F. (2010). He saw that workers were more than just hourly labor and knew that if he could encourage them to expand their horizons and broaden their knowledge and interests that the company would also benefit from this. In the early 1930s, the Herman Miller company was known for producing high-quality, traditional furniture. However, this was the time of the Great Depression. A very trying time with unemployment rates as high as 25% in the United States and as high as 33% or more in other countries (Unemployment Statistics During the Great Depression, n.d.). The demand for Herman Miller's high-quality, traditional furniture plummeted. Sales dropped sharply...
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...OPERATIONS MANAGEMENT GROUP PROJECT Report on the Operations Management strategy of Xuan Hoa Furniture and IKEA Prepared for Prof. Noel By - Group 7 - Lê Quang Anh Đỗ Thị Hà Anh Vũ Kim Phượng Nguyễn Thị Mỹ Linh Nguyễn Thị Thùy Linh May 22, 2014 EXECUTIVE SUMMARY Operational management is line management of organizations that highly affect the company’s performance. It is a business function that organizes, coordinate and control the resources needed to produce a good, operational management is a business process to create highest level of efficiency and value add. Operations management is a dynamic field and presents exciting new issues and challenges for operations managers. This is also a very important coursework for everyone of us who want to become a successful leader in the future. For that reason, after completing a 3-week Operations Management course, we – Group 7 would like to present a report about our findings on the comparison of the operations management strategy between 2 companies on the field of furniture manufacturing and retailer: Xuan Hoa Furniture and IKEA. Our report is divided into 9 main parts, each one represents a strategic Operations Management decision. And every main part will be broken into 2 part: one from Xuan Hoa Furniture and one from IKEA. 1. General Introduction 2. Operations Strategy 3. Product Design 4. Managing Quality 5. Process Strategy 6. Location Strategy 7. Human Resources and Job...
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...Almighty ALLAH, who aided us with His strength, courage and gave us wisdom and patience to complete this term paper. Table of contents Content Page number Title page 1 Later of transmitted 2 Acknowledgement 3 Executive summary 5 Message from chairman 5 Introduction 6 Products 7 Designator, job responsibilities, planning 8 Organization structure 9 Level of management 12 Projects 14 Leading strategies 15 Controlling strategies 17 CSR 19 Appendix 21 Bibliography 22 Executive summery Hatil complex limited is an ISO 9001-2008 Certified leading doors and furniture manufacturer company in Bangladesh. This organization has been established in 1989 following the footsteps of H.A. Timber Industries Ltd. - a company running from 1966 with a reputation in timber processing sector. Now the business of this organization is based on Dhaka. They produce doors; home and office furniture using solid wood (Red Oak), Vineyard MDF, Laminated board and sheet metals. this organization produce goods with...
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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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...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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