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International Business Summative

Fender Guitars Corporation
by

Matthew mrozowski

on 20 May 2011

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Transcript of International Business Summative

By: Matthew Mrozowski Why I Chose Origin and History of The company began as Fender's Radio Service in late 1938 in Fullerton, California, USA. As a qualified electronics technician, Leo Fender had been asked to repair not only radios, but phonograph players, home audio amplifiers, public address systems and musical instrument amplifiers. Leo became intrigued by design flaws in current musical instrument amplifiers, and he began custom-building a few amplifiers based on his own designs or modifications to designs. By the early 1940s, he had partnered with another local electronics enthusiast named Clayton Orr Kauffman, and together they formed a company named K & F Manufacturing Corp. to design, manufacture and sell electric instruments and amplifiers. By the end of the year, Fender had become convinced that manufacturing was more profitable than repair, and he decided to concentrate on that business unlike Kauffman who remained unconvinced. In 1946 they parted and that point Leo renamed the company the Fender Electric Instrument Company. History continued... History Continued... Fender offered the first mass-produced solid-body Spanish-style electric guitar, the Telecaster, the first mass-produced electric bass, the Precision Bass (P-Bass) and the popular Stratocaster guitar. Furthermore, while nearly all other electric guitars then were either hollow-body guitars or more specialized instruments such as Rickenbacker's solid-body Hawaiian guitars, Fender had created versatile solid-body electric guitars for the everyday person. These guitars were and still are popular for musicians in a variety of genres. Many bands still use Fender guitars today. Some notable Fender players were Jimi Hendrix, Ritchie Blackmore, Stevie Ray Vaughn, Waylon Jennings, Kurt Cobain, George Harrison, John Frusciante, Keith Richards, Bruce Springsteen, Hank Marvin, Eric Clapton, Mark Knopfler, David Gilmour, and others. The Year Corporation Was Started: July 7th, 1946

Location of Headquarters: Scottsdale, Arizona, USA

Name of Chief Executive Officer (CEO) : Larry Thomas

Annual Income of CEO: Unavailable

Total Net Assets of Corporation: $31, 567

Number of Employees: 3,000 worldwide.

Name of Auditing Firm: Ernst & Young LLP

Countries Operating In: Global

Privately/Publicly Owned: Private

Primary Products: Fender Stratocaster
Fender Telecaster
Fender Precision Base
Fender Pickups
Fender Strings
Amplifiers Vital Statistics: Products and Services Fender Gutars Corporation sells a wide veriaty of stringed instruments and acessories including.... Fender Guitars sells a wide veriaty of stringed instruments and acessories, some incude.... Bass Guitars Electric
Violins Guitars Banjos Products and Services Products and Services Fender builds and sells a wide veriaty of electric instruments and acessories, some include.... Electric
Guitars Bass
Guiatrs Electric
Violins Banjos $100- $20,000 $100-$15,000 $450-$3000 $150-$3000 Acessories Some Fender acessories include... Guitar pedals Guitar Picks Guitar Strings Instrument Hardware Amplifiers Mission/Vision Statement Vision/Mission Statement Fender strives to champion that spirit through community outreach and participation in programs that provide people with expanded opportunities to experience the fulfillment of music. As a world leader in musical instruments and accessories, Fender has an important responsibility to serve the needs and exceed the expectations of musicians worldwide. That responsibility rests not only with the high quality of instruments that they produce for current musicians, but in sustaining the rich legacy of their company history by providing the opportunity for music enrichment in everyone's life.
Across various races, cultures and religion, music serves as an essential element of harmonious communication. Music is the language that everyone speaks, with the power to move, change and transform lives. To keep that spirit of rock 'n' roll alive for future generations, Fender is deeply committed to their partners and friends, and their mutual efforts to provide music education in their local and global communities. Fender Musical Instruments Company is the leading maker of solid-body electric guitars with an estimated 50 percent of the U.S. market. The company, which markets products under several brand names, including Fender, Guild, Sunn, Floyd Rose, Rodriguez, and Squier, produces an estimated 1,000 guitars a day in more than 100 different colors and finishes. In addition to its own guitars, which are manufactured in the U.S., Mexico, Japan, China, and Korea, Fender is the sole North American distributor for the prestigious Rodriguez line of Spanish guitars, and manufactures a wide variety of mass-produced and custom-made amplifiers and audio equipment. Fender guitars range in price from $300 - $100,000. Its classic Telecaster and Stratocaster guitars have been mainstays of popular music almost since their inception, played by guitarists from Buddy Holly to Ritchie Blackmore to Eric Clapton to Kurt Cobain. Sources of Revenue Fender Guitars Corporation Headquarters in Scottsdale, Arizona, USA Fender is currently the largest guitar manufacturer in the world and has been for the last 11 years. Fenders competitive advantage is the time put into making each guitar by hand and their amazing attention to detail. Fender Guitars is one of few Manufacturers that still makes most of their guitars by hand. Fender also has the support of many rock and roll legends including David Gilmour, and Mark Knopfler. Since Fender guitars is one of the oldest guitar companies in the history of guitar they have collected a very large client base and have Millions of customers each year.
Although fender is currently the largest and most popular guitar company in the world they have some very tough competitors. Some of Fenders competitors are Gibson Guitars, Yamaha Guitars, and Epiphone. Since Fender makes their guitars by hand, they tend to be more expensive than the competitors leaving fender with only the more experienced guitarists and wealthier people. Strengths and Weaknesses Fenders #1 Competitor We wish to establish an ongoing relationship with you based upon your trust in our knowledge and judgment.
To that end:
We meticulously inspect in detail every guitar that we offer. We check the finish, all of the electrical components, serial numbers, etc. With over thirty years of experience collecting and handling vintage guitars and our enormous reference library, we bring to bear all that is known about guitar manufacturers, models, and annual production. We provide full, detailed descriptions and specs to each guitar.
We openly disclose any and all flaws we discover in writing. If the instrument is not completely “straight,” we will tell you so and why. We endeavor to conduct ourselves to the highest standard of professional behavior. We will deal fairly and ethically; no surprises, flim-flam, dubious business practices or shenanigans. We value your sense of privacy and uphold the highest standards of discretion and respect
We allow a full 48 hour honeymoon period when you buy a guitar from us. If you are not 100% satisfied with it we will refund the purchase price in full, less shipping, upon return of the guitar in the same condition as sold. Please call us before returning the instrument.
Please inspect your new guitar immediately upon receiving it. If any guitar we offer is found to be not as described, we will happily refund the full purchase price, less shipping, upon return of the guitar in the same condition as sold. Please call us before returning the instrument. Code of Ethics Fender Guitars is an international company that manufactures and sells stringed instruments and instrument accessories. Fender as spread globally since its opening in 1946 and has become the largest guitar manufacturer in the world. Fender guitars are known globally for their outstanding quality and are played by people worldwide. The fact that fender instruments can be used to play almost any genre of music has helped them expand into the massive corporation they are today. Fender has touched and transformed music worldwide and in nearly every genre: rock ‘n’ roll, country and western, jazz, rhythm and blues and many others. Everyone from beginners and hobbyists to the world’s most acclaimed artists and performers have used Fender instruments and amps, and legendary Fender instruments such as the Telecaster and Stratocaster guitars, as well as the Precision and Jazz bass guitars are universally acclaimed as design classics.
Fender Guitars has greatly expanded in the last 20 years and plans to continue expanding into different countries. Fender plans to make new models of entry level guitars like that people of any skill can enjoy them. As Fender forges into the 21st century, its management strives to maintain its status through a combination of business acumen and love for music. National Presence and Future Plans Reflection....
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