Case # 1 - the Wolverine Fastener Co.
CASE # 1 - THE WOLVERINE FASTENER CO.
The Wolverine Fastener Co. was founded 20 years ago by Roger Gordon and Edwin Andrews in Detroit. Wolverine’s early years were relatively unstable, and the company was on the verge of bankruptcy on more than one occasion. By 1983, however, Wolverine has blossomed into one of Michigan’s most prosperous manufacturers’ representative firms; in addition to many smaller product lines, Wolverine represented a major fastener corporation based in Chicago., The majority of Wolverine’s annual orders of $10 Million come from Detroit’s auto industry, where the manufacture of every automobile requires hundreds of fasteners (screws, bolts, clips, latches, and customized metal and/or plastic connectors).
Both Roger Gordon and Edwin Andrews came from well-to-do Michigan families. Each had attended a Big Ten university, from which he graduated with honors. Soon after their graduation, both men were married in the same year to women who were sisters. Thus, their relationship began as brothers-in-law. About a year later, the two men, both manufacturers’ representatives, decided to form a partnership, which they called the Wolverine Fastener Co.
Roger Gordon gave the impression of being a dynamic businessman. Always in a hurry, he consistently tried to squeeze 14 hours of work out of his 10 hour days. This often created a frantic sense of disorganization in the office. He had an uncanny ability to get things done “just under the wire”. He was what is often called a “doer”, never refusing a potential money-making venture because he lacked the time to give it attention it deserved. Somehow, he managed to get everything done.
Edwin Andrews was Roger’s working partner, and they shared equally in its annual profits. The two men made all corporate decisions together, yet each was responsible for his own accounts. Thus, in their day-to-day work, they went their own way and seemed quite independent of each other.
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The Wolverine Fastener Co. was founded 20 years ago by Roger Gordon and Edwin Andrews in Detroit. Wolverine’s early years were relatively unstable, and the company was on the verge of bankruptcy on more than one occasion. By 1983, however, Wolverine has blossomed into one of Michigan’s most prosperous manufacturers’ representative firms; in addition to many smaller product lines, Wolverine represented a major fastener corporation based in Chicago., The majority of Wolverine’s annual orders of $10 Million come from Detroit’s auto industry, where the manufacture of every automobile requires hundreds of fasteners (screws, bolts, clips, latches, and customized metal and/or plastic connectors).
Both Roger Gordon and Edwin Andrews came from well-to-do Michigan families. Each had attended a Big Ten university, from which he graduated with honors. Soon after their graduation, both men were married in the same year to women who were sisters. Thus, their relationship began as brothers-in-law. About a year later, the two men, both manufacturers’ representatives, decided to form a partnership, which they called the Wolverine Fastener Co.
Roger Gordon gave the impression of being a dynamic businessman. Always in a hurry, he consistently tried to squeeze 14 hours of work out of his 10 hour days. This often created a frantic sense of disorganization in the office. He had an uncanny ability to get things done “just under the wire”. He was what is often called a “doer”, never refusing a potential money-making venture because he lacked the time to give it attention it deserved. Somehow, he managed to get everything done.
Edwin Andrews was Roger’s working partner, and they shared equally in its annual profits. The two men made all corporate decisions together, yet each was responsible for his own accounts. Thus, in their day-to-day work, they went their own way and seemed quite independent of each other.
Just as