Capstone project with voice over
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The document outlines the mission, values, SWOT analysis, performance targets, and competitive and production strategies of B&B Photography over multiple years. Key lessons learned include the importance of paying attention to competitors, effective communication within the team, training employees, and ensuring strengths are properly managed to avoid becoming weaknesses.
Capstone project with voice over
- 1. Carey Book Rory Calhoun Urban Fleming Amanda Hardie John Peeples
- 2. Strategic Vision Mission Statement: To be the premier provider of quality products and services, through mutually rewarding relationships with our customers, associates, business partners and the community. Team Vision and Values: B & B Photography holds respect to a high level of value. All team members will demonstrate respect towards one another, and toward our fellow classmates and professor. B & B Photography envisions a group project that will be executed with exemplary precision and meet all preset project objectives.
- 3. SWOT Analysis Entry-Level Warranty Multi-Store Chains Period Online Retailers Multi-Featured Local Camera Shops Warranty Period Advertising Budget Multi-Featured Models Strength Weakness Europe/Africa & Threat Exchange Rates Asia/Pacific regions had Opportunity Taxes and Fines the largest amount of sales volumes 40% and 30% respectively
- 4. Performance Targets Investor Expectations Year 12 Results Earnings Per Share: $3.42 Earnings Per Share: $2.34 Return on Equity: 15% Return on Equity: 22.8% Credit Rating: B+ Credit Rating: A Image Rating: 70 Image Rating: 53 Stock Price: $37.58
- 5. Competitive Strategy Entry-level cameras Our strategy with the Entry-level cameras was to provide the best value in the various markets. Regions were divided among co-managers to allow more attention and focus on creating a more marketable product in their respective markets.
- 6. Competitive Strategy Multi-Featured Cameras Our strategy with the Multi-Featured cameras was very similar to the Entry-Level cameras in that we wanted to create a high value product, but with added quality in mind. Regions were also distributed among co- managers to allow more attention and focus on creating a more quality product and provided each market with high value as well.
- 7. Production Strategy We tried various Product Design strategies to increase P/Q rating on both entry level and multi-feature cameras. Prior to beginning the simulation, we researched Consumer Reports for the top entry level and multi-feature cameras and pricing. Based off that information, entry level MSRP should have been in the ballpark of $476 and multi-feature in the ballpark of $899.99. Year 6 we settled on a specific product design and allowed it to run two years in order to get a history. According to industry averages at the time, we were extremely high in core components and too low in brands specific components and special utility features. Year 10 we adjusted our core components on both levels as not within industry average and results earned us a leap frog award for most improved overall score. Year 12 we adjusted brand specific components as it was the last year of simulation and we were hoping for a nice increase finish. However, we were extremely over on brands specific components compared to industry average on both levels.
- 8. Lessons Learned Pay attention to competitors Training A team must Employees is a have key factor in communication running a to run the company project smoothly If not managed properly, strengths can quickly become a weakness
Editor's Notes
- In the beginning, B&B Photography struggled to keep up with competitors. Market share for North America on average was around 7% in Year 10, but gradually increased to 9.5% in Year 12. As the weeks progressed, the competitive intelligence reports, company operating reports, and the statistical reviews allowed the team to improve overall business success.*Urban may want to supplement the financial side of our strategy with his voice over.
- Like the Entry-Level strategy, our goal was to create a high value product, but with added quality. B&B Photography invested in higher quality materials and advertising (I remember we talked about this in the discussion boards but cant remember the exact numbers) with the Multi-Featured segment. The Europe-Africa region which was B&B Photographys highest sales region, maintained a steady market share throughout the simulation which undoubtedly contributed to the success of the company.
- Pay attention to competitors: It is important to be at the top of your game in any competitive industry. In order to be successful and stay ahead of the competition it is important for an organization to know what the competition is doing and do it better.A team must have communication to run the project smoothly: When working as a team communication is of utmost importance. In order to communicate effectively all team members must listen, work together, and be open minded to change.If not managed properly, strengths can quickly become weaknesses: A team is made up of diverse and multi-talented individuals. Each member of a team possesses certain strengths and weaknesses. Creating an environment that plays to each team members strengths is conducive to a productive team effort. Thus, managing these strengths and weaknesses is imperative to success. Training employees is a key factor in running a company: Training of employees is an important factor in running a successful business. Training creates a skilled and knowledgeable workforce that is capable of proficiently performing the required tasks of the organization. Properly educated employees are instrumental to overall organizational success.