Baby Bloomers
BABY BLOOMERS
Time Context The case under study covers the period of the 1980’s (particularly 1987) wherein the Philippine economy is experiencing difficulty due to the political turmoil.
Summary A family enterprise known as the Baby Bloomers specializing in floral arrangement was founded in 1977. It was inspired by the Three Flowers Florists which is considered as the leading supplier of flower arrangements during the previous years. It became widely known floral trade to the market because of the imported materials they use. Also, their standardized outlet, with luxuriant interior and overall air of quality, has a great impact to the customer. This led to a large amount of cash inflows incurred by the company, mainly because of its high price being charged in their high-quality products and services. With this tremendous success, owners take into consideration business expansion. They started establishing restaurants, automobile dealership, wine importation business, cocktail lounge, jewelry shop, European sporting goods dealership, and store specializing in remote-controlled toys. However, not all of the newly established businesses were doing too well, except the restaurant which was moderately successful. Large amount of investments was incurred and much of the funds available were being use as working capital instead of servicing of the loans. During 1983, a consequential challenge was faced by the enterprise, when devaluation of the dollar exchange rate set in. Unfortunately, expenses increase because some of their businesses were import-oriented. It became a greater liability for the Baby Bloomers flower boutiques for it is the only enterprise generating high income. Many of its loans were defaulted, and since personal funds were not sufficient to meet the payment, troubled businesses were eventually sold to settle the problem, leaving only the flower boutiques and the restaurant.
Mission Statement To provide a high-quality floral products
Time Context The case under study covers the period of the 1980’s (particularly 1987) wherein the Philippine economy is experiencing difficulty due to the political turmoil.
Summary A family enterprise known as the Baby Bloomers specializing in floral arrangement was founded in 1977. It was inspired by the Three Flowers Florists which is considered as the leading supplier of flower arrangements during the previous years. It became widely known floral trade to the market because of the imported materials they use. Also, their standardized outlet, with luxuriant interior and overall air of quality, has a great impact to the customer. This led to a large amount of cash inflows incurred by the company, mainly because of its high price being charged in their high-quality products and services. With this tremendous success, owners take into consideration business expansion. They started establishing restaurants, automobile dealership, wine importation business, cocktail lounge, jewelry shop, European sporting goods dealership, and store specializing in remote-controlled toys. However, not all of the newly established businesses were doing too well, except the restaurant which was moderately successful. Large amount of investments was incurred and much of the funds available were being use as working capital instead of servicing of the loans. During 1983, a consequential challenge was faced by the enterprise, when devaluation of the dollar exchange rate set in. Unfortunately, expenses increase because some of their businesses were import-oriented. It became a greater liability for the Baby Bloomers flower boutiques for it is the only enterprise generating high income. Many of its loans were defaulted, and since personal funds were not sufficient to meet the payment, troubled businesses were eventually sold to settle the problem, leaving only the flower boutiques and the restaurant.
Mission Statement To provide a high-quality floral products