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Herman Miller

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by

Ahmed Assad

on 2 September 2015

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Transcript of Herman Miller

Strategic Analysis Herman Miller: A case of reinvention and renewal Ahmed Assad 4092090 Mohammad Aarij Saghir 4201942 Ola Mryhij 3356462 Declining revenue and cost instability due to increasing prices of core material Strategic Issues The current industry is a mature to declining industry with intense competition; which is being reflected in the sales. The current industry is a mature to declining industry with intense competition; which is being reflected in the sales. Issue 1 Porter’s Five Forces:
 
Risk of potential entrants: The risk of potential competitors entering the office furniture industry is very high


Rivalry Among Established Companies: The industry is a red ocean; the rivalry is very high and intense


Bargaining power of buyers: Buyers in this industry have very high bargaining power


Bargaining power for supplier: low


Substitute Products: There are many different substitutes available.
Capturing additional market share within Herman Miller primary markets by offering superior furniture solution to customers


Develop new products and that serve a new market, such as house electronics. Recommendation Issue 2 Declining revenue and cost instability due to increasing prices of core material Balance Scorecard Use financial derivative such as futures and forwards to secure price changes in resources (Prices increase – buy a contract of steel for next year for this years price)

Strengthen Financial Department practices to receive liabilities quicker from clients Recommendation Competitor Analysis Questions and Recommendations vote Capturing additional market share within Herman Miller primary markets by offering superior furniture solution to customers


Develop new products and that serve a new market, such as house electronics.


Use financial derivative such as futures and forwards to secure price changes in resources (Prices increase – buy a contract of steel for next year for this years price)

Strengthen Financial Department practices to receive liabilities quicker from clients
Full transcript