BUS4006W Module: Change Consulting Assignment 1 – To be handed in on 13 May 2014. Please read Application 5-1 (STEINWAY’S STRATEGIC ORIENTATION). The CEO of Steinway & Sons has contacted you. He invited you for an initial conversation to see if you would be able to assist him with the challenges he is currently facing in the organisation. You had an hour meeting with him. During this time he elaborated on the following: The fact that he is really passionate about the work that
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Steinway & Sons was founded in 1853 by German immigrant Henry Engelhard Steinway in a Manhattan loft on Varick Street. Henry was a master cabinet maker who built his first piano in the kitchen of his Seesen‚ Germany home. The first piano produced by the company‚ serial number 483‚ was sold to a New York family for $500. It is now displayed at the Metropolitan Museum of Art. Over the next forty years‚ Henry and his sons‚ Henry‚ Jr.‚ Albert‚ C.F. Theodore‚ William‚ and Charles developed the modern
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Steinway & Sons: Buying a Legend(A) ¢ñ. Statement of Problems and Issues Summary For 140 years‚ Steinway & Sons has set the standard for the quality manufacture of pianos. Why is Steinway legend? What made it so a great master? After first step into piano industry ¡°Steinway¡± and the word piano are almost synonymous. Working a long-term ¨C and still going- technical and market strategy that emphasized quality is to say‚ since the first Steinway family members arrived in New York from Germany
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International Strategic Management – Steinway & Sons HAN Kunqi Luxury brand management‚ food and wine Cl3 1. Historically‚ why has Steinway been successful? Steinway & Sons is one of the leader in the market for high-quality grand pianos. It was established in New York City in 1853 by a German immigrant Henry Engelhard Steinway and prospered with its techincal excellence. Marketing Mix of Steinway & Sons 1. Product Steinway & Sons keeps in working on its high
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Case: Steinway and Sons Problem Definition: Steinway ands Sons‚ with a 140 year history of making the finest pianos has witnessed management change and generation growth in its time. Many things changed over that period‚ but the image that Steinway was the brand for American and made the finest pianos remained untouched. In the current wave however‚ Yamaha and other piano makers were churning out good pianos off the assembly line and artists found them to be reasonable alternatives to
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Steinway & Sons: Combining Craftwork and Teamwork Steinway and Sons remains one of the best-known producers of concert pianos in the world. Throughout its great history the company has shown a distinctive talent at innovation and quality workmanship‚ as evidenced by its 114 patents. In an age of mass production‚ Steinway continues to manufacture a limited number of handmade pianos in a unique testament to individual craftsmanship. However‚ Stein¬way’s dominance in the concert piano market is being
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Steinway’s reputation as a manufacturer of high-quality pianos? What tactical differences do you see between Steinway and Yamaha in their pursuit of high quality? Evaluate each Steinway reputation was a result of the uniqueness and the differentiation in their products. Their long-standing history of perfection in making custom and hand made products‚ differentiate them from their competitors. Steinway strived to meet the specifications for their piano artists and utilized their fame to promote a high
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Steinway’s Strategic Orientation Assessments of the inputs and strategic orientation External environment can de described as: 1. The general environment and 2.The task environment or industry structure. Both of them are the key inputs that directly and indirectly impact on how an organization designs its strategic orientation. All external forces such as social‚ technological‚ economic‚ ecological‚ and political/ regulatory forces are the environmental factors that have influence on an organization’s
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DECISION ON HAND In 1992‚ Steinway & Sons introduced the Boston Piano. The Birmingham brothers felt branding the product with a name other than Steinway will help retain the high end of the market while providing a lower priced piano for those who were not actually ready to commit to a Steinway. See Exhibit 1 for a brief yet rich history of Steinway & Sons. Steinway & Sons are reluctant however‚ to introduce a new‚ mid-priced piano. The decision at hand is whether or not Steinway should extend its brand
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Mary Dradshaw Steinway Two investment bankers Dana Messina and Kyle Kirkland purchased Steinway and Sons‚ a New York piano manufacturer company for $100 million. It is their task to decide whether Steinway should continue it’s high-end‚ niche strategy of premium pianos‚ or to expand their current line of pianos to further grow their revenue. As Dana and Kyle step further into turning Steinway and Sons to a successful profitable business‚ they are faced with several existing issues that first
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