Cohen Architectural Woodworking Company's Success Analysis
Choose any 1 company from the Forbes "Small Giants" list to focus this paper on. These are small companies that have become large in their market segment. The link is below:
https://www(dot)forbes(dot)com/sites/maneetahuja/2020/05/12/forbes-small-giants-25-companies-that-believe-smaller-is-better/#4e8617401432
Analyze the company (while USING additional sources, etc.) to explain why the company has been successful and identify what it needs to do to continue to be successful in the next 5 years.
You should use class content to complete this assignment. In addition, the situation you are being placed in is that of a business analyst for mid-sized regional bank. Assume that the bank has been given the opportunity to become involved with a line of credit for the bank (a $1 million dollar commitment for the bank). You have been asked to prepare a 1,000 word or less brief that does the following:
1. Explains how it has succeed so far.
2. What it needs to do to continue its success.
3. Determine whether they are a good credit risk or not.
This will be read from the perspective of a bank vice president. The bank VP will be presenting to the lending committee whether the bank should make the commitment or not. If you give the bank VP material that is not useful, he will let you know in no uncertain terms. Remember, a bank VP will look like a fool if he/she goes to a lending committee with a poorly researched case.
Details:
Times New Roman
Size 12 Font
APA citation with Works Cited Page
Class Content to related the paper to:
- Porter's 5 Forces Model
- new entrants
- substitutes
- buyers
- suppliers
- rivarly
- SWOT analysis for the company of choice
- Answer the question: What gives this company the competitve advantage?
Cohen Architectural Woodworking Company's Success Analysis
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Cohen Architectural Woodworking Company's Success Analysis
History of Cohen Architectural Woodworking Company's and its growth over time.
Cohen Architectural Woodworking Company is a family-owned woodwork company that standardizes and builds high-quality custom millwork components and casework for healthcare (hospitals, clinics, and other healthcare facilities), airports, education (universities, high schools, and other educational facilities), retail (shops, malls, and relevant retail spaces), transportation, hotels, and more, for new construction, renovation, and disaster reconstruction. In the year 2020, Forbes listed Cohen Architectural Woodworking Company as one of its top 25 Small Giants, a category that recognizes America's leading small businesses annually CITATION Man20 \l 1033 (Maneet Ahuja, 2020). This listing was because of its fast growth over the years and its outstanding service to customers, employees, and communities. The company achieved all this while making a good profit at the same time.
This company began on May 5, 1982, by its current owner and CEO Philip Cohen, who named it Country Workshop. At this point, Philip Cohen purchased his first business license and was working in his home basement CITATION Coh21 \l 1033 (Cohen, 2021). Before purchasing his business license, Cohen built his neighbors' porch swings from walnut, cherry, and cedar. He says that he found working with wood therapeutic having grown up in a violent neighborhood. Philip Cohen was a drug and substance abuse. Additionally, he suffered from manic depression. The best way for him to overcome these personal issues was to work with wood, make furniture such as multi-unit birdhouses, baby cradles, and toy wooden box trucks with roller skate wheels CITATION Coh21 \l 1033 (Cohen, 2021).
Having come from such humble beginnings, the company began growing slowly, and as time went by, the company moved from Altamont, Tennessee, to Flemingsburg, Kentucky. This was in the year 1994. Additionally, Philip Cohen changed the company's name to New Dimensions. After four years, the company moved again to Summerville, Missouri, and finally settled in Saint James, Missouri, in 2004, changing its name to what it is currently known today CITATION Coh21 \l 1033 (Cohen, 2021). In 2005, the company won its first award and hired someone not from the family lineage. In 2014, the company opened its first official branch in Lenexa, Kansas. It was in 2016 that the company revolutionized and expanded to what it is today, buying and building an additional 34000 square feet from its former 21000 square feet, which was constructed and developed in two phases, its original space was 12000 square feet and an extra 9000 square foot warehouse space which they added in 2007, in its current headquarters in Saint James, Missouri.
After this massive expansion in 2016, the company won the 2016 Small Business of the Year award from the Rolla Chamber of Commerce CITATION Wil20 \l 1033 (Sampson, 2020). Furthermore, the firm has won multiple awards, including the Architectural Woodwork Institute's Award of Excellence for four separate projects between 2005 and 2018. Locally, in Missouri, CEO Philip Cohen was named 2017 SBA Small Business Person of the year, and in 2019, he was called into St. Louis Small Business Hall of Fame (Segalo Media, 2020). Currently, the company has a total of 80 employees CITATION Man20 \l 1033 (Maneet Ahuja, 2020).
What needs to be done by Cohen Architectural Woodworking Company for them to continue being successful in the next five years
As a business analyst, Cohen Architectural Woodworking Company has been on...