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William Baird Plc Report Change Strategy & Management

1383 words - 6 pages

REPORTTo : William Baird PLCFrom : John DoeDate : 9th January 2002Subject : Strategy that will enable William Baird to survive turn-around the prospectus for the business.Section 1.0 Terms of referenceWilliam Baird is already suffering from the high cost, low margin nature of the UK clothing industry and in 1999 lost its contract with M&S whom made up 40% of William Baird's sales. The company must take immediate action in wake of this abrupt change, in order to survive, and decide upon a long term strategy that will ensure success in the future. Unless drastic measures are taken, William Baird faces the consequence of high running costs from redundant machinery and labour and certainly raise uncertainty from investors and other customers and thus quickly face a bleak future.The report will analyze the current business position and more crucially, evaluate and later recommend possible 'change' within the organizational structure and marketing mix that will allow the company to survive and create stable growth.Section 1.1 Primary objectiveDevise a strategy (together with immediate short term measures) with the objective of survival in wake of loss of M&S's contract and for long term success.Section 1.2 Secondary objectives- Asses impact of loss of contract and future prospects- Short term measures- Evaluation of possible internal changes- How William Baird should implement change (and overcome resistance)Section 2.0 Assess impact of loss of contractThe most obvious consequence of the lost of contract will be the sharp drop in future incoming sales and profits. This will effect the level of future capital investment and lower the share value. The company will now have redundant capacity that requires continuous running costs and so the company must quickly downsize by selling machinery and property (or perhaps consider leasing) and making a large number of people redundant (which is costly in the short term).Other customers of William Baird will become anxious because of the unknown fate of the business, thus the loss of contract from M&S may then be followed by other loss of contracts which therefore jeopardizes the prospectus for William Baird. Another issue from the drop in capacity utilization is that all economies of scale gained from the M&S contract will be lost effecting the unit cost for all the goods being sold to existing customers; dampening the profitability of all existing products.Section 3.0 Short term measuresSection 3.1 Legal actionNo actual written contract was made between M&S and William Baird although a verbal, 'by use' contract did exist between the two parties, which has been breached from the termination of the contract by M&S. William Baird should seek immediate legal advice from their own solicitor and also perhaps from a less biased external source. If it is recommended that William Baird should take legal action, then they should do so. The likely consequence is that M&S may be forced to pay...

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