Issues Faced by Edmunds
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1. Analyze the issues faced by Edmunds and describe what lead the company to this situation.
2. Create and describe a strategy for addressing the situation at hand.
3. Assess which element in the strategy you just described would be the hardest to implement and explain why.
4. Describe what strategies Edmunds could use in the future to reduce potential crises before they happen.
5. Use at least three (3) quality resources in this assignment.
? Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA
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Solution Summary
The solution discusses the issues faced by Edmunds and describes what lead the company to this situation.
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See the attached file.
1. Analyze the issues faced by Edmunds and describe what lead the company to this situation.
Edmunds is an established and stable company, providing precision machine parts and services to the domestic corrugated box industry. Globalization and technological revolution has changed the way of business. It has opened the gate to numerous opportunities for companies in foreign land. Edmunds is catering to local domestic market and is confined to a limited area only. Its growth has become stagnant. Company is not losing anything yet but it is definitely in its maturity phase and slowly approaching declining phase if they do not take necessary steps to save the company. It is facing lot of issues in terms of growth, profit, shrinking market etc. Let's discuss some of them in detail below:
1. Most of the Edmunds's staff is local and they are from nearby areas. They are nearing retirement and there is no backup plan to fill the gap.
2. People from new generation are moving to outer locations in search of more opportunities.
3. Due to economic downfall, input material costs gone up. Edmunds is also affected with this as it has lowered the profit margin of the company.
4. Alternative shipping products were popping up in the market and they have already started eating up market share of Edmunds.
5. Consolidation in paper industry has also created damage to the Edmunds's clienteles. Many of its clients have moved to overseas operations and the rest are adopting high quality machinery which doesn't need Edmunds's products due to high durability of these new machines.
2. Create and describe a strategy for addressing the situation at hand.
Edmunds can improve its current situation by making a few effective strategies. It is important for Edmunds to undergo a change as it is the need of the situation and time. Change brings growth, innovation and success to the company. Edmunds should adopt a change in its strategy at various functional levels such as technology, ...
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