Edmunds Corrugated Parts & Services
Edmunds Corrugated Parts & Services
Charles Reynolds
Dr. Charles Woods
Modern Management-500
August 10, 2012
Edmunds Corrugated Parts & Services
Analyze the Issues Faced by Edmunds and Describe what lead the Company to this Situation Edmunds issues were the quarterly earnings. They simply was not as they had been in the past. In the past years Edmunds Corrugated Parts & Service Company had seen earnings past the $10 million mark. And now the company is beginning to see clear signs that revenues were becoming stagnated. Mr. Edmunds felt the company did very well up until now. He had employed around one hundred employees that was loyal and worked hard to get the job done. A majority of the workers were neighbors to Mr. Edmunds and had been at the factory since opening but, they was getting ready to retire. Edmunds felt it would be hard to replace the hard-working, loyal employees which was an issue. Although, Edmunds did not have any competition and the reputation for being dependable, giving above average and personalized service was still in tack yet, the increasing cost of steel, the changes in the box industry, the fact that a great deal of the U.S. plants that Edmunds served had closed or either taking business overseas, these issues had bought Larry Edmunds to a crossroad of what he should do to bring the company revenues back to where they use to be (Daft, R., 2010).
Create and Describe a Strategy for Addressing the Situation at hand The first implementation to address the situation at hand is to evaluate new opportunities in the market--in terms of acquisitions, new products or services, collaborations with others, etc. The next thing would be to examine every technology the company employs and identify ways to reduce cost. Introduce new or improved technologies internally that will improve the functioning of the organization. Identify and adapt new technologies to better meet the needs of the customers. Determine what the
Charles Reynolds
Dr. Charles Woods
Modern Management-500
August 10, 2012
Edmunds Corrugated Parts & Services
Analyze the Issues Faced by Edmunds and Describe what lead the Company to this Situation Edmunds issues were the quarterly earnings. They simply was not as they had been in the past. In the past years Edmunds Corrugated Parts & Service Company had seen earnings past the $10 million mark. And now the company is beginning to see clear signs that revenues were becoming stagnated. Mr. Edmunds felt the company did very well up until now. He had employed around one hundred employees that was loyal and worked hard to get the job done. A majority of the workers were neighbors to Mr. Edmunds and had been at the factory since opening but, they was getting ready to retire. Edmunds felt it would be hard to replace the hard-working, loyal employees which was an issue. Although, Edmunds did not have any competition and the reputation for being dependable, giving above average and personalized service was still in tack yet, the increasing cost of steel, the changes in the box industry, the fact that a great deal of the U.S. plants that Edmunds served had closed or either taking business overseas, these issues had bought Larry Edmunds to a crossroad of what he should do to bring the company revenues back to where they use to be (Daft, R., 2010).
Create and Describe a Strategy for Addressing the Situation at hand The first implementation to address the situation at hand is to evaluate new opportunities in the market--in terms of acquisitions, new products or services, collaborations with others, etc. The next thing would be to examine every technology the company employs and identify ways to reduce cost. Introduce new or improved technologies internally that will improve the functioning of the organization. Identify and adapt new technologies to better meet the needs of the customers. Determine what the
References: Certo, S. C., (2006). Principles of management (2nd custom ed.) Upper Saddle River, NJ: Pearson Education, Inc. Daft, R. (2010). Management (9th ed.). Mason, OH: Cengage Learning O 'Connell, Brian (2004, October 01). THE TIMES, THEY ARE A ' CHANGING. Baylor Business Review, (1), 2, Retrieved from http://elibrary.bigchalk.com