A Case Study and Analysis of Brothers Furniture Ltd.
We would like to take this opportunity to thank you for helping us immensely in every possible way to get this report prepared. We have completed this report with our utmost sincerity and hope that you will appreciate this endeavor. However, if any explaining is required, we Mould be available to answer any question for clarification. Sincerely, attach–add Contents List of Figures: 1 Introduction: rhea furniture industry is one of the most potential sectors in Bangladesh and the overall condition of the sector is very good in recent years.
Local furniture manufacturers are meeting a huge local demand while the upper section of society is also having access to imported furniture. Fortunately, the local companies have the lion’s share of the market.
After meeting the local demand, furniture industry moves forward and is concentrating on exporting furniture to neighboring countries specially India. There are 5,000 registered furniture houses in the country, according to the Bangladesh Furniture Association. Almost 99 per cent of them are non-brand operators.
There are about 7 enterprises present in the turpitude industry to England’s and the total market share held by these organizations is about 66. 65 percent.
The domestic furniture market is worth an estimated 67 Billion BAT and growing at a rate of 19% yearly. And the country’s total furniture export was only 4. 3 Million USED in the fiscal year (2011-2012). (PACK, Accountants and business advisors, lanyard 2013) 1 . 1. Brothers Furniture Ltd.
Rooters Furniture Ltd. Is a renowned name in the furniture industry of Bangladesh. This company was established in 1985.
The company specializes in wooden doors and wooden furniture. It has been operating for about past three decades. By this time this company has gained reputation for superior quality, craftsmanship and cost purchase services.
The Brothers Furniture Ltd has good technical skills and marketing experiences that have been praised in different international trade fairs at home and abroad. As a result sophisticated machines and technology have been introduced in Hardihood, Humphrey, saver factory to cope with the demand of the customers.
The production coordinators of this company strive to have a quality product produced in a timely and efficient manner. In the unlikely event a defect is found, complete customer satisfaction in quality and workmanship is guaranteed. He Increasing demand for wooden home and office furniture and machine made Node door, door frame, stair rail, molding bit, wooden floor, kitchen cabinet etc. Made them ahead than the stream line companies.
The yearly turnover of this company is about 5. 2 million USED. And company employs over 150 full-time employees. Brothers Furniture Ltd. , 2014) 2.
Origin: This report titled as “A Case Study and Analysis of Brothers Furniture Ltd. ” has been assigned by Dry. A. K. M. Useful Mejia, Course Instructor, as a partial requirement of the course Business Strategy (WHEW).
3. Methodology: 3. 1. Data Sources: A combination of both primary and secondary was pursued to conduct the aforementioned analysis. Primary data was mostly extracted from answers of questionnaire surveys with various personnel from Brothers Furniture Ltd.
Secondary data was extracted from sources such as- reputed dailies (The Daily Star, The Financial Express, Proton All), websites of Bangladesh Bank, Bangladesh Bureau of Statistics, National Board Of Revenue, Ministry of Environment and Forest, Board of Investment Bangladesh etc. And other statistical figures available from previous published credible market researches available on the web. 3. 2. Objective: rhea primary intention was to conduct a thorough strategic analysis on Brothers Furniture Ltd. Using broadly accept PESTLE Analysis Porter’s Five Forces Analysis SOOT Analysts 3.
. Scope: De anal wittily tools such as This strategic analysis task given to us regarding “Brothers Furniture Ltd. ” rewarded AS with the following opportunities: To get a brief overview of the furniture industry of Bangladesh. To identify the external and internal factors of macro and micro environment that has effect on a furniture manufacturing company. To make a qualitative evaluation of a firm’s strategic position in the industry. To identify the Internal and external factors that are favorable and unfavorable to achieve the stated objectives of “Brothers Furniture Ltd.
3. 4. Limitations of the Proceedings: Limitations that were confronted while preparing this report are as following- Inadequate primary data due to improper response of personnel of the concerned organization Insufficient source of secondary data Absent of explicit legislative statements regarding various facts in various legal acts rhea analytical remarks were influenced greatly by the subjective Judgments of the participants of this report. 4. Strategic Analysis of Brothers Furniture Ltd.
: 4. 1.
PESTLE Analysts: PESTLE analysis is a simple and effective tool used in situation analysis to identify the key external (macro environment level) forces that might affect an organization. These forces can create both opportunities and threats for an organization. Therefore, the aim of doing PESTLE analysis is to: Find out the current external factors affecting an organization; Identify the external factors that may change in the future; To exploit the changes (opportunities) or defend against them (threats) better than competitors would do.
Figure : Macro environment forces affecting a firm (PESTLE forces) PESTLE analysis of furniture industry of Bangladesh gave us the following proceedings: 4. 1 . 1. Political: 4. 1.
1 . 1. Political Instability: If we go through the political condition of Bangladesh, we will see that from 1991 to 2013, none of the major parties were able to hold the government position for more than one term continuously. There is a shift, none of the parties were capable to meeting the expectation of the public. Also they were unable to mitigate the conflict between them, so they intentionally or unintentionally made it worse.
The people of the country are accustomed with increased unstable political condition during the elections. Moreover, other issues like conflict over caretaker government, TN assassination attempt of Miami League chairperson Sheikh Hessian on 11 January, 2007 and a more pressing concern regarding the several terrorists groups have been key disturbing factors making the political condition of Bangladesh extremely unpredictable and unstable. And this increased political instability is a bad influencer for the economy and the furniture industry of our country is also affected