Case 3 Filmore furniture Group 2
Case-3 Filmore Furniture
Prepared for
Professor Lisa Smith
Sheridan College
Brampton, Ontario
Prepared by Ishmeet Gill
Manav Inder Kaur
Hasandeep Singh
Shivali Shivali
Neeraj Neeraj
BUSM29845- Thursday
Sheridan College
Brampton, Ontario
February 26, 2015
Furniture Manufacturing and Selling Industry
Key Events
Filmore Furniture was incorporated by Mr. Filmore in the early 70s, he was the only owner but later on he sold his business to his son Phil Filmore and he then managed the entire business successfully, business earned a great reputation in the market with its great innovations in the products .But later on in 1990s snowstorm he passed away in a car accident and the entire responsibility of the business lied on his wife shoulders Mrs. Lucinda who was a kindergarten teacher, as the time passes on the business undergone various ups and downs so Mrs. Lucinda become pretty much confused about the various decisions she needed to took regarding the business.
Problem Statement and Objective
The problem Filmore facing was regarding the debt issues that what Lucinda should do to solve. She has to maintain her financial needs and standard of living. If she sells the business she will get 2 million. After paying all short and long term debts she received only 800,000. This is Phil’s annual salary. This is difficult for her to live in this small income. She had no knowledge about furniture business. Objective was to hire a better management for business which will help her paying off her debts, and to create a strong marketing strategy to improve company’s growth.
Situational Analysis
In this case we did situational analysis which helped us in determining the company’s profit and growth by keeping in consideration the various internal and external factors which might affect the company’s overall performance so we did Strengths and weaknesses, Porters five forces to examine the overall situation of the
Prepared for
Professor Lisa Smith
Sheridan College
Brampton, Ontario
Prepared by Ishmeet Gill
Manav Inder Kaur
Hasandeep Singh
Shivali Shivali
Neeraj Neeraj
BUSM29845- Thursday
Sheridan College
Brampton, Ontario
February 26, 2015
Furniture Manufacturing and Selling Industry
Key Events
Filmore Furniture was incorporated by Mr. Filmore in the early 70s, he was the only owner but later on he sold his business to his son Phil Filmore and he then managed the entire business successfully, business earned a great reputation in the market with its great innovations in the products .But later on in 1990s snowstorm he passed away in a car accident and the entire responsibility of the business lied on his wife shoulders Mrs. Lucinda who was a kindergarten teacher, as the time passes on the business undergone various ups and downs so Mrs. Lucinda become pretty much confused about the various decisions she needed to took regarding the business.
Problem Statement and Objective
The problem Filmore facing was regarding the debt issues that what Lucinda should do to solve. She has to maintain her financial needs and standard of living. If she sells the business she will get 2 million. After paying all short and long term debts she received only 800,000. This is Phil’s annual salary. This is difficult for her to live in this small income. She had no knowledge about furniture business. Objective was to hire a better management for business which will help her paying off her debts, and to create a strong marketing strategy to improve company’s growth.
Situational Analysis
In this case we did situational analysis which helped us in determining the company’s profit and growth by keeping in consideration the various internal and external factors which might affect the company’s overall performance so we did Strengths and weaknesses, Porters five forces to examine the overall situation of the