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Baldwin

In: Business and Management

Submitted By rrichins01
Words 468
Pages 2
The past eight years have been difficult for the Baldwin company. A few costly mistakes in the early years have plagued the company and overshadowed what might have otherwise been a successful transition through one of the most unstable periods in the industry’s history. The most costly mistakes included a lack of investment in sales, underutilizing assests, and the failure to roll out a new product in a timely manner.
Under production in the early years disguised the damage caused by the lack of investment in sales. The first year saw the company sell nearly all production and end the year with satisfactory inventroy levels, but Baldwin simultaniously lost 20% of its market share that same year. Market share continued to drop in the first few years and it wasn’t until the fourth year that the company invested heavily in sales and began to increase market share.
The failure to roll out the new product on time was perhaps the most devistating blow to Baldwin as this was a simple matter of miscommunication. A simple clerical mistake with the product improvement schedule pushed back the revision date for the new bing product that cost the company an estimated $5 million in idel plant capacity, marketing dollars, and reposition costs.
The stock market and the S&P rating punished the company for these early mistakes. It became costly for the company to raise capital, and the company fell behind in their ability to produce at a competitive cost relative to the competition. Much of this failure was due to the unwillingness to assume debt by the finance department or risk a fall in the stock price by issuing stock while the price was still high.
Baldwin had difficulties in the first few years but has continued to improve since its most devistating performance in year 3. Sales have increased steadily for the past five years, Baldwin’s market share is...

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