Alternative Solution For Lawrence Sports

Competitive Benchmarking for Lawrence cavort One of the problems in the scenario is that the major customer for Lawrence Sport has defaulted in making 80% of its recompensements for the periods (March 17-23 and March 24-30.) notwithstanding this inauspicious situation Lawrence Sports has to maintain a strong or autocratic net working capital to enable it pay for practicable expenses and short-term debts. In an effort to suggest both(prenominal) of the lavishly hat solutions to help Lawrence sports meet its obligations this paper will query into round of the strategies that have been adopted by Callaway play play along (CGC) and Nike mint which contributed significantly to improve cash management deep down the 2 organizations. Callaway Golf Company. In 1997 Callaway Golf Company (CGC) before a manu detailurer of golf clubs and apparel experienced a line in quality in its market share and suffered from hapless financial act as a result of: som e bad decisions make by its Chief Executive police officer (chief operating officer) Donald Dye, the negative impression from the Asian financial crisis of 1997 on American exports, the decision by golfers to postpone buying clubs in apprehension of the United States Golf association (USGA) placing limits on innovations in golf club designs, and the fact that golfers did not see the need for upgrades.

CGCs first retort to this situation was to replace its CEO. Ely Callaway, founder and fountain CEO was therefore, recalled to channel [the caller-outs] resources, talent, energy, and money in an ever-increasing poin tedness toward the creation, design, product! ion, sale and good of new and better products. (Strategic Management) Due to contention from new entrants the company was unable to sell the bulk of its products in 1997 and 1998. CGC had in behave large quantities of golf clubs. The new CEO therefore, decided to waste the inventory of clubs to improve the companys cash influx and financial position as a whole. Callaway also exchange off all products that were...If you want to pay a wax essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper