Give that Herman Miller cuts its workforce in 2003 and had pay cuts in 2009, it would be difficult to reduce these cost any further. The company’s net profit has dropped also but it was still positive. Herman Miller has been able to react to the external environment well. The management was able to see that changes needed to take place over the years and did this with employee buy-in.
The need for R&D to stay competitive in the marketplace is essential to the success of the company. The change in working capital from 2008 to 2009 was cut in half. But this shows how well that Herman Miller was able to weather the financial downturn. The value chain that is currently used by Herman Miller works for the markets that they are currently serving. The only suggestions that could be recommended are to work closer with its independent distributors, and look for new distributors such as Sam’s Club or Costco. This will allow them to get more exposure for the brand.
This could also possibly open up new opportunities for more sales. This would also reflect on their generic strategy to move more to a broader audience and because they have a Lean Manufacturing style would help move to the left and be comparable to the competition. Based on all the exhibits that have been provided it is difficult to recommend anything different than what the company is currently doing. They have taken steps to reduce costs and have been able to stay profitable. The only concern is the Times Interest Earned as it has been extremely good at 11. in 2006 to now at just
The Research paper on Coors Brewing Company
Coors brewing company The following research paper will provide a competitive profile matrix of Adolph Coors brewing company against Anhauser-Busch, and Miller Brewing Company, which are the main competitors of Miller Brewing Company. After the corporate snapshots of both Anheuser-Busch and Miller Brewing Company the space matrix that will correlate the companies TOWS, IFE, and EFE will be ...
While this is still just above what Lenders usually insist on, the history over the last 5 years should help the company with any loans they may need. But at this point in time I would recommend not borrowing anything until the economy has stabilized or starts to grow again. This would include not to expand its global operations. It is further a recommendation that Herman Miller continue to look at new innovations in the market place and to continue to rely on its employees and the cross-functional teams that they have in place.
