CIMA CASE REPORT.docx
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CIMA CASE REPORT.docx
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CIMACASEREPORT
Teamname:
FantasticDream
University:
SichuanInternationalStudiesUniversity
TeamMembers:
YangTongdi(TeamLeader)
GuYang
NieKaiyu
LiuLu
Adviser:
LiJiang
PanYao
Qianqingyi
TABLEOFCONTENTS
Page
1
ExecutiveSummary2
2
Introduction3
3
StrategicAnalysis4
3.1CompanyAnalysis
3.2IndustryAnalysis
3.3SWOTAnalysis
4
IssuesAnalysisandRecommendations7
4.1PrioritizationofIssues
4.2CoreCompetenciesIssues
4.2.1LateDeliveryofaHullfromTopcrest
4.2.2JKL
4.3DiversificationandMarketingPlans
4.3.1NewDesignSupplierforSurania
4.3.2SalesStaffandAgents
4.3.3RacingBoat
4.4AccidentatWork
5
AchievabilityoftheFive-yearPlan15
6Appendices16
1.0EXECUTIVESUMMARY
Thisreportaimstopriortize,analyzeandevaluatethecurrentissuesfacingMerbatty.ThereportbeginswithastrategicandfinancialanalysisofMerbattyandtheindustry.The4mainissuesMerbattyfacinghavebeencategorizedinto2broadcategories,namelyissuesthatthreatenbusinessandprofitabilityandplansrelatingtoexpansionandmarketing.
Thefirstissueisthelate.deliveryofahullfromitssupplierTopcrest.Theteamrecommendsthatintheshortterm,MerbattyshouldcancelthecontractwithTopcrestandcompletetheorderontimeandfindmoresuppliersinthelongterm.
Thesecondissue—JKL,isthesecondlargestshareholderofMerbatty,butAlbertoBlanc,theChairman,stillviewsMerbattyashispersonalproperty.Also,Albertoisfondofdoingcharity,butJKL’sInvestmentDirectorSimoneLelletthinkitisabsolutelyacost.TherecommendationisthatMerbattyshouldstrengthenthecommunicationoftheshareholders.AlbertoneedtoremovehisideathathecancontrolMerbattycompletely.
Thefinalissueistheethicalimplicationfromaccidentatwork.TheaccidentarosefromoneofMerbatty’semployeecalledPaulo, arrivalfor work high on drugs .He fell off and broke his leg .Hisaddictiontodrugremindsustoshowconcernfortheethicalissueofthecompany.
Withregardtoexpansionandmarketingplans,Jesper(MarketingDirector)wantstobuildandraceaspeedboatinthecompetition.ButhisfatherAlberto(chairman)disagreeswithhim.Merbattyshouldaccepttheproposalinrelationtotheracingboat.Thisisduetotheincreasingdemandforthelargeboatandthisincreasingdemandwillenhancebrandawareness.
TheinteriordesignsupplierforthenewboatbuildingfacilityintheMiddleEastisstillnotfound.Therearetwodesigncompaniesavailable:
CooperDesignsandArabianInteriors.MerbattyshouldchooseCooperDesignasithasalonghistoryandagoodreputation.
StefanGil(salesdirector)wantstoemploysalesstafftoreplacetheagents,butMarieLopp(HRdirector)hasarecognitionofagents’work.Itcanbedealtwithbycombiningbothsalestaffandagent.
Finally,thefiveyearplanisevaluated.Fromtheevaluation,Merbattyshouldincreaseitstotalprofitsandcontinueexpandingmarketshare.
2.0INTRODUCTION
Merbatty,foundedin1979,isaluxuryboatbuildingcompanyspecializinginwealthy,successfulindividualandcorporateclients.Inordertoachievetheexpectedsales,Merbattyadoptscustormisinginteriordesignandproductionmanagementsoftwaresystemtoincreaseproductivityandimproveresourceutilisation.
Merbattyhasdevisedafiveyearplanthataimstoachievethefollowingmilestonesby2017:
-Numberofboatscommencedintheyear—Increaseby78.57%to500in2017
-Salesrevenue—Increaseby99.20%to€1,oooin2017
-Operatingprofit—Increaseby80.26%to€137in2017
3.0STRATEGICANALYSIS
3.1CompanyAnalysis
Merbattyhasadoptedthe‘custormisationmodel’todifferentiatesitselffromothercompaniesandhasbuiltastrongcustomerbase.ThismodelwaspossibleasMerbattypossesscorecompetenciesamongthesimilarproducts.Themodelrepresentafurther11%ontopofbasicsellingpricesandalsoreliesonremaininginclosecontactwithsuppliers.
3.2IndustryAnalysis
Merbattycompetesintheluxuryboatbuildingindustry,espeiallyintheUSandEurope.
In2012,theluxuryboatbuildingindustrygeneratedapproximately$5.5bnrevenue.Over5yearsto2012,theindustry’srevenuedeclineatarateof8.6%,andexpectsanaverageannualrevenueof6.9%inthe5yearsto2017.AlthoughMerbattyhasheldaglobalmarketshareof8%in2012,itstillhasmuchrisks.
FiveForces
●Substitute---strong
Therearealargenumberofdomesticandinternationalbuildersofluxuryboats,whichtogetherproducearangeofover180differentmodels.Thebetterthepriceofferedbysubstitutes,themorelikelycustomerswillswitch.
●Newentrants---strong
Thethreatfromnewentrantsishighbecausethestrengthofthebarriersislow.
●Rivalry--strong
Astheboatindustryisnotdominatedbyafewlargecompanies,rivalryisintense.Itisdifficulttodifferentiateyourproduct
●Supplier’spower---moderate
AlthoughMerbattyhasanumberofkeysuppliers,manyothersuppliersareavailableandswitchingareavailableandswitchingcostsarelow.Thepriceisnotcontrolledbyoneortwodominantsuppliers.
●Buyer’spower---moderate
Asswitchingcostsarelowandcustomerscaneasilyhavefullinformation,itisessentialforMerbattytoputemphasisonadvertisingandpromotiontocreatebrandawareness.
ThreattotheLuxuryBoatBuildingIndustryMarket
4
3
2
1
0
Strong-4Weak-0
Rivalry
NewEntrants
Substitutes
Buyer’spower
Supplier’spower
3.3SWOTANALYSIS
●Strengths
ØClosecontactwithcustomers
ØWidelyspreadofsalesagent
ØLonghistory
ØGoodreputation
ØExcellentinteriordesignservice
ØHighglobalmarketshares
ØExperiencedandcommittedemployees
ØSophisticatedITsystem
●Weakness
ØTooreliantonsalesagent
●Opportunity
ØFastgrowingmarketinMiddleEast
ØOnlineshoppingmarket
ØCharitablework
●Threats
ØIntensecompetition
ØAccidentatwork
ØLongleadtime
ØDilutionofshareholder’spowerafterflotation
Therefore,Merbatty’sprioritieswouldfocusonretainingmarketsharebecauseofthefiercecompetitionandatthesametime,expandingglobalanddomesticmarket.
4.0ISSUESANALYSISANDRECOMMODATION
4.1PrioritisationofIssues
The5mainissuesmaybebroadlycategorizedasfollows:
Giventhedirectimpactoftheissueswhichthreatenbusinessprofitability,theyarechosentoprioritizeoverexpansionormarkingplans.
●Amongtheissuesthatthreatenthecorebusinessorprofitability,thelatedeliveryofhullposesagreaterriskbecauseitalsomeansatwo-monthstatedeliverytoitscustomerwhichwillnotonlyresultinfinancialloss.
●ThesecondissueismisunderstandingbetweenJKLandMerbutty.Thiswillinfluencetheshareprice.
●Amongtheexpansionandmarketingplans,choicebetweentwosuppliersforSuraniatakesprecedenceasitinvolvesMerbutty’sfutureplansforexpansionintheMiddleEast.
●Butalsoitsreputationwillsufferthechoicebetweenagentandstaff.Ontheotherhand,italsorequiresthecompanytoactquickly.
●ThoughtheracingboatproposalmayincreasethesalesofP-3000,itseffectontotalsalesislimited.ThesuppliersforSuraniaproposalwillbethemaindrivingforceinsalesgrowthandshouldthereforetakeprecedence.
4.2CoreCompetenciesIssues
4.2.1LateDeliveryofaHullfromTopcrest
FinancialImpact
Duetothelatedelivery,0.5%ofcustomersmayrequirearefund(accordingtothefinancialdatagiven),whichwillreducetheprofitin2014.Ontheotherhand,italsowillreduceemployee’sefficiency.Hence,Merbattywillloseaplentyofmoneyandwastealotoftime.
StrategicImpact
AsMerbattyplanstoexpanditsmarket,supplier’slatedeliverymakestherelationshipbetweensupplierandMerbattygoworseanditwillaffectMerbatty’slaterorder.Inthatcase,thetargetofboatbuildingof340in2014willnotbeachieved.
ReputationalImpact
Reputationisanimportantpartofacompany,whichisstrategicforthefuture.Duetothelatedelivery,customerwilldoubtMerbatty’sabilityoftakingorders.Itaffectscustomers’choiceandmakesMerbatty’ssituationbecomeworsebecauseMerbattyisanewcomerinthestockmarket
.
PotentialSolutionstotheLateDelivery
ContinuethecontractwithTopcrest
MerbattyacceptsthefactthatTocresthasdeliveredthehulllate,itwillgetapproximately€118.5kfromTopcrestandtheboatcustomerswillget€25kdiscount,soitwillreduceMerbatty’scosteventhoughcustomerscanceltheirorder.
BecauseMerbattyisakeycustomerofTopcrest,whenmakingfurtherorders,TopcrestwilltakeMerbatty’sordermoreseriously,itwillbenefitMerbatty’sfuturestrategy.
CancelthecontractwithTopcrestandfindanotherhullsupplier
Tofindanotherhullsuppliertosupplythehullatshortnotice,itwillreducethepossibilityofcustomercancelingtheorder,also,themarketforitsabilitytoresistriskassessmentwillbebetter.AlthoughMerbattyandTopcresthaverecognizedtheimportanceofworkingcloseforfuturedesigns,Topcrestdidn’tseeMerbattyasitsimportantcustomer.Hence,merbattyshouldn’ttakeTopcrestasamainsupplieranymore.
Amendthecontractandfindanotherhullsupplier
Latedeliveryisafactthatcan’tbechanged.WhatMerbattyhastodoistoreducetherisks.ConsideringthecloserelationshipwithTopcrestanditscompensation,Merbattyshouldn’tbreakthecontractdirectly.MerbattycanreducetheorderwithTopcrestandfindanotherhullsuppliertocompletetherestoftheorders.Hence,Merbattymaynotreceiveunsubscribefromcustomers.
Recommendation
Short-term
Intheshort-term,Merbattywants
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