Look into the company and find their problems since the children have taken over and what their financial situation is, are they operating in safe waters, is there good management in place, is the company at risk, are they working together in the best interest of the company. Read the recent events and there loss. Look into the surveying business does Sally have a problem. In the Boat yard does Stephen have a management problem, since his take over? Is there a good relationship between the directors good when Stephen spoke at the dinner for only him and Alister.If we look deep into this company there is problems that need addressing, let’s find these and make recommendations
The purpose of this report is to analyze M & L Marine company’s operations, industrial environment and give a recommendation to the management team. M & L is a private corporation incepted thirty-five years ago by two brothers, Michael and Lewis. The company’s management is currently by Michael, Lewis, Michael’s daughter (Sally), Lewis two sons (Stephen and Alistair) and two other non-executive directors. Michael’s and Lewis’ families own 65% of the company with 35% owned by other family members. The company has grown to refitting, maintaining and building of marine locomotives, as well as, surveying and brokerage.
M & L operate under three departments, surveying, brokerage, and boatyard which are headed by Sally, Alistair, and Stephen respectively. The boatyard operations management is by all management members owing to the background information in marine engineering. The company’s publicity solely depends on networking, website, and word of mouth. The revenue of M & L depends considerably on superyachts, small yachts, houseboats, pleasure crafts and other non-commercial applications. However, M & L has a fair employment program as it has considered communally disadvantaged communities in the United Kingdom.
Referring to 2012 and 2013, M & L company’s profits and sales have drastically fallen from 520,430 to 390,675 and from 2,102,000 to 2,097,900 respectively. Additionally, the total costs have substantially increased from 1,581,57 to 1,707,230. The company is operating at a risky edge and should restructure the whole business to ensure higher profits in the future. Small profits are risky to the owners as the market share price reduces thus lowering the owner’s wealth where the loss may cut the dividend share in the future. The company should upgrade its products to attract more clients and customer loyalty (Carroll 23)….