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1) Dave Nelson recently retired at age of 48. 2) His courtesy: Ø Very healthy Stock Market Ø Numerous stock options Ø Has granted while president in e-shops.com 3) He moved to Montana to follow his dream. Ø Living in mountains and big sky. 4) After relocating Ø He is always an entrepreneur, began sporting good store. 5) His single store grew into chain (with outlets) 6) He can't believe how fast he expanded (uncontrolled growth) 7) Chain did have share of problems Ø Store traffic (somewhat seasonal) Ø Slow down occurring as winter approach 8) Nelson added ski equipment and accessories to his product line 9) The need to finance required inventories Ø Seemed to be bulging, left cash balance at very low level Ø Occasionally giving rise to short-term bank loans. 10) Nelson's operation focus on canoe building and white water rafting trips. 11) Company's financial accounting system report. Ø Indicate that his operations where losing money because of increasing costs Ø Traditional income statement is not too useful in assessing the problem 12) Nelson noted: Ø " My gut feeling is that we are not dealing with the best suppliers in terms of quality of goods, delivery reliability, and prices. 13) Another complications Ø Caused by an increasingly competitive market place with many former customers now buying merchandise and booking river excursions via the internet, through catalogs received in mail or business that advertised heavily in outdoor magazines. Ø Nelson's background is marketing, but he appeared somewhat puzzled on how to proceed. Ø CFO is an obvious asset in terms of addressing the problems. Ø She knew her numbers but lacked key knowledge of general business operations. Ø Lacking big picture outlooks for the firm. Ø Store traffic somewhat seasonal Ø Slow down occurring as winter approach Ø Operations are loosing money because of increase in cost Ø Increasingly competitive market place with many former customers now buying merchandise and booking river excursions via the Internet, through catalogs received in mail or business that advertised heavily in outdoor magazines. III- Central problem Ø Increasingly competitive market place due to high technology in in business or the use of internet in business transactions or operations. Ø Loosing money in Nelson's business operations = IV- Areas of consideration = Ø Heavy competition from every competitor Ø Nelson cannot easily adjust to sudden change in his business operations,( the use of high technology) Ø Cost and expenses for new equipment and machineries Ø No assurance if the turn over of new business will be successful. Ø Nelson needs to expand his expertise and knowledge in business operations Ø Join the CFO and other executives in resolving the problem Ø Adopt high technology in business operations. Ø Develop new strategies. Ø Increase his level of competitiveness. = VI- Recommendation = Ø Adopt high technology in business and expand his knowledge and expertise in business operations. = VII- Next step = you follow!
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