In the past there has been 300 different companies in the home appliance industry and now there is only a couple left. The problem with the consolidation is now it is more competitive then ever before. The way Maytag survived the fierce competition is through their high quality of products and acquisitions. Maytag is a big company but it only has 21.6% of the market share. Maytag has huge competitors like Whirlpool with 39.2% and GE with 23.2%. The way Maytag is getting more market share is by acquisitions and that accounts for 1% each year. Maytag purchased Jade Range and Dynasty so they can expand pass the home appliances and into the commercial side of the appliances. .
.
Maytag has been growing steadily from 3 billion dollars in 1991 to 4.7 billion dollars in 2002. They showed a net loss in 1995 due to the Hoover international experience and making all the plants up to date to make quality products. They sold the plants for less then what they paid for. Over the past 2 years operation income has dropped over 283.5 million dollars due to making the plants more high tech to produce more and better products. Maytag's net sales are still increasing but the stock has dropped $23.93 dollars over the past 3 years. The stock has dropped due to the company has had three CEO's within the past 3 years. Now they have found the right man which is Ralph Hake. Maytag will now pick up where Leonard Hadley left off. Lloyd Ward put the company in a bad position and they realized that in time and brought back Hadley just for temporary until they found Hake. In 2002's first quarter Hake brought the earnings per share up 63% from last quarter. In 2002 they made 47.7 million dollars for net income. The company is making money and is not done growing.
.
.
Threats.
• Big competition Whirlpool, General Electric, Aba Electrolux .
• Going international.
• Three CEO's within three years.
Before washing machines were invented people removed dirt from their clothes by pounding them on rocks and washing them clean in the streams. Sand was used as a malleable cleaning stone for the clothes. Soap was eventually found at a place in Rome called Sapo Hill. People found ashes containing the ...
Many people have misconceptions on a wide variety of fruits from kiwis to pineapples. As I walk down my hallway of hard cherry wood flooring and white accented walls I hear a rumbling in my cavernous stomach, I have a sudden urge for something exotic and tangible, but frigid cold at the same time, n...
The decade of the 1930s can be defined in two parts: The Great Depression, and the restoration of the American economy. America was shaken by Stock Market Crash of 1929. Franklin Delano Roosevelt stepped in with his New Deal in hopes of bringing the US into more prosperous times. He promised to fix the American economy, provide jobs, and help the needy. As America was restored, culture grew quickly. ...
Scientific Management Frederick Winslow Taylor known as the father of scientific management has had a major impact on the way businesses operate today. Born March 20, 1856 in Philadelphia, Pennsylvania, Taylor, who had problems with his eyes and could not attend college. Instead, he went to work as a laborer in a machine shop. He later worked at Midvale Steel Works and became a manager in addition to attending night school to get a mechanical engineering degree. He saw the inefficiency and waste at his job and decided to dedicate himself to stopping this waste and improve efficiency (Krei...
Executive Summary The following contains confidential detailed strategic recommendation by "Creative Solutions" using integrated marketing communications strategies. It is the intent of Creative Solutions to appropriate the advertising and promotions contract offered by Fisher & Pykel to proclaim...
Visitors to Australia may come to feel that the people there have a distinctive way of thinking, feeling, and behaving. Although there may be differences, there also are similarities. Many questions characterize business travelers: What is the climate like? How do people greet each other? Will Americans be able to drink the water and eat the food? ...
