The Changing Mattress Business - 2591 Words

Changes in the global environment, in conjunction with the deepest and most prolonged economic downturn since the Great Depression, have started a sea change in the domestic mattress industry. The end of conspicuous consumption for big-ticket items such as mattresses and foundations, is the result of declining new home sales, tightening of consumer credit, the consumer confidence index still well below pre-recessionary levels (Wang, 2010), and unemployment hovering near 10%. In order to remain viable in rapidly changing global and task environments, mattress manufacturers will need to lower material and manufacturing costs, develop products that differentiate them from their competitors, or develop new channels of distribution for their†¦show more content†¦Furthermore, senior management has developed and implemented organizational systems to create tighter financial controls while implementing processes that require its executives to produce individual sales objectives, str ategies, and action plans. In addition, in order to create an environment of cooperation, trust, and, motivation for both King Koil and its licensees, the Executive Vice President at King Koil has directed the executive sales team to establish a â€Å"big brother system† where each sales team member has the assignment of working directly with two of the domestic licensees. As such, each sales team member has begun the process of fostering a harmonious working relationship with the sales executives from their assigned licensees. For the first time in the history of the licensee-licensor relationship, there are now defined strategies and objectives that both parties are tackling together. This is a new initiative for King Koil, and one that is necessary to foster the creation of a synergistic approach to mutual growth. Each of King Koil’s sale team members now have eight personal objectives, strategies, and action plans, as do each of the licensee-based sales managers w ho have been assigned to work cooperatively with King Koil’s executive sales team. The result of this initiative is that as a total company, King Koil now has approximately 120 total objectives and strategies for 2011. The framework of management by objective (MBO) is now in place.Show MoreRelated Analysis of Pleasant Dreams Mattress Company1325 Words   |  6 Pagesmore intense and is affecting businesses in almost every part of the world. Those domestic companies who have been doing business in a specific region for decades to concentrate in only one area of the market are now finding foreign competitors at their competition and having more market recognition because of their regional presence. The Product Pleasant Dream Mattress offers a wide range of household products and is among the market leaders in the American market. In marketing terms, itRead MoreThe Impact On The World Trade Center Towers On September 11th1694 Words   |  7 Pages Simmons is a 130-year-old mattress manufacturer that was hit hard by the economic downturn caused by the attacks on the World Trade Center towers on September 11th. The economic downturn had caused three of the furniture company’s best customers, Montgomery Ward, Heilig Meyers, and HomeLife, to go out of business. This group represented roughly 17% of the revenue for Simmons. To make matters worse, the foam Simmons used for its bed cushioning began to give off a malodorous smell when it was usedRead MoreCase Study : Four Star Industries Singapore1197 Words   |  5 PagesIndustries is a mattress manufacturer and distributor based in Singapore. Founded in 1966 by a carpenter, the company had grown rapidly and experienced years of relatively unabated success (Viswanathan Allampalli, 2010). The founder, Neo Gim Sin, helped build the company through his carpentry experience and familiarity with the machines provided by European manufacturers. This gave the company an early comp etitive advantage within the Singapore market, and Sin s continual strategic business decisionsRead MoreSWOT Analysis : Magm Case Study Analysis1115 Words   |  5 Pagesof the specialty advertising business since its first debut in 1967. As the forefront of the industry, this becomes a strength for the company to being set apart from the competitors. Also, being the forefront means greater opportunity to derive trust from customers. †¢ Strong brand reputation Sigma is being well-known as a vendor of custom calendars as a marketing tool for other businesses. Sigma has numerous of loyal customers from large companies such as Serta Mattress, Domino Sugar, Borden, IncRead MoreEssay on Huawei Culture1297 Words   |  6 Pagesharmony from directing the mind to a state of constant equilibrium. This concept here represents moderation in business competition both within the organization and with other companies. Here we take a careful look at Huawei’s â€Å"Wolf culture† deficiency and what they did to improve. Detailed characteristics of the â€Å"wolf culture† and their flaws ï ¼Ë†1ï ¼â€° Mattress culture The well-known â€Å"mattress† culture encourages employees to work overtime. However this tradition is not suitable for a established companyRead MoreEssay on Music Video Critique1357 Words   |  6 Pagessetting fade in and out as the camera changes angles. The music video continues, but at the end Ondrasik is singing alone in the woods. As the camera moves above him looking down, the woman and baby are revealed laying on a mattress by his feet. He lays down with them on the mattress in the woods as the song ends. This opening and closing gives a bit more of Ondrasik’s exact point in life. He has a woman (presumably his wife) and (also assuming) a child with another one on the way. Ondrasik has all thisRead More The Changing Mattress Industry in America2517 Words   |  11 PagesThe Changing Mattress Industry in America Changes in the global environment in conjunction with the deepest and most prolonged economic downturn since the Great Depression have started what I believe is a sea change in the domestic mattress industry. Factors such as declining new home sales, tightening of consumer credit, the consumer confidence index still well below pre-recessionary levels (Wang, 2010) and unemployment hovering near 10% have all contributed to the end of conspicuous consumptionRead MoreJames Sinegal Bio, The Chief Executive Officer, And Director Of The Low Price Membership Essay976 Words   |  4 Pagesmade a life changing decision, that decision was to take a job at Fed-Mart in 1954 as a mattress unloader(Businessinsider). Sinegal constant hard work and dedication did not go unnoticed. Fed Mart’s chairman, Sol Price took interest and gave Sinegal the chance of a lifetime through promotions, eventually landing Sinegal as the executive vice president of Fed-Mart. This opportunity allowed Singal to w ork with Sol Price and another executive to invent the big box warehouse concept ( business insider)Read MoreMoving Company Katy : Professionals Helping For The Moving Process1030 Words   |  5 Pages The cost will be higher than other moving service and it also depends on the weight of the goods and the distance. So if you are moving to distant locations contact these types of agencies. †¢ Commercial moving companies: These companies deal in business or commercial forms of relocations. The charging rates are costly but flexible as the shifting is crucial and complex than other types of moving. This is the reason why many companies don’t offer these services. Moving is a complex process and itRead MoreCell Phones Are A Influential Way Of Communication923 Words   |  4 Pagescell phones are a prominent way of communication. They have become so influential in peoples’ everyday lives that many can not imagine life without a cell phone. Cell phones are not necessarily a bad tool, when used in moderation. Cell phones are changing the way people communicate and the way they live their everyday lives. Cell phones have changed the communication game forever, for better or for worse. With the presence of cell phones, distance is no longer a communication barrier. Talking to family