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Please write a 500 word company background based on the following scenario No scenario. Just the information attached please. I just need a brief summary
Please write a 500 word company background based on the following scenario
No scenario. Just the information attached please. I just need a brief summary of the company background based on the attached images.
Micro Tiles Limited In June of 2014, Bill Madden considered expanding his micro tiles business. He planned to invest $2.0 million in 2016 to produce more and better-quality plaster or metal tiles and lithographs. These silver and golden ornate tiles can be hung individually or displayed as a collection of various themes (i.e., sports, outdoors, wildlife, music, actors, religion) on living, dining, bedrooms or family room walls. Although Bill had ten years of experience as an artist in designing and developing these products, he had little experience in managing a business. He realized that this was his greatest weakness and was preventing his business from growing to its full potential. Therefore, he asked his son, Robert, who had graduated from Engineering and held a Master's Degree in Business Administration, to join his firm. Robert had six years of experience with a major consumer products company. Management's Background Prior to starting his business, Bill Madden had worked for twenty-five years in communications services for several federal government departments. When he took an early retirement in 2003 at the age of 50, and he decided to realize his dream of starting his own business. At the time of incorporation in 2008, sales began to accelerate, and the company moved from a hobby business to a full-time operating entity. That year, he decided to move the operating facilities from the basement of his house to a small space that he rented in an industrial park. Bill enjoyed the artistic side of the business. He liked to draw images. His friend, Harry Freeman, also a former federal public servant joined him in 2008. He was responsible for sales and general administration When Bill started his business, he sold his reproductions through small independent kiosk operators and even rented some kiosks himself on a short-term basis. He also advertised his products in catalogues to a wide-range of retail outlets particularly in the giftware business. As revenue continued to soar in 2014, he realized that he needed to invest money into his business and authomate his production operations. Both Bill and Harry believed that they needed professional help since they had no qualifications and experience in managing a business that required skills in the field of marketing, human resources, production, and finance. For that reason, they asked Robert, Bill's 31-year-old son to join the business and become president of Micro Tiles. Bill would be responsible for the product design a key factor in the success of the business. Harry would be responsible for sales and marketing activities, and Robert, as president, would be responsible for general administration. Micro Tiles Limited Micro Tiles Limited In 2014, Micro Tiles Limited was showing substantial growth. Revenue went from $1.0 million in 2011 to $2.0 million in 2014 (see appendix A). This huge gain was a result of sales agreements that Bill had signed with several giftware retailers. His catalogues also helped his business to gain recognition. A wide variety of retail outlets and consumers were becoming acquainted with Micro Tiles products. Even some major retailers began to show an interest in carrying his product lines. Bill signed a sales agreement during March 2014 with a major retailer. The retailer would market Bill's products on a trial basis in several stores across Canada. After several months, the consumer response appeared to be positive and Micro Tiles was becoming recognized as a leading monthly sales consignment supplier. This helped generate a 48% sales increase in 2013 (from $1,058,000 to $1,564,000). As the relationship with retailers matured, Micro Tiles introduced several changes in the way products were manufactured and marketed. In the past, the company designed a tile first and then created the promotional plan. Now, the development of new products would be based on consumer research and social trends. For example, the company would develop new product lines as a tribute to successful sports heroes. Retailers and consumers both showed considerable interest in this marketing scheme and this was considered the cornerstone of Micro Tiles' success. Micro Tiles Limited In June of 2014, Bill Madden considered expanding his micro tiles business. He planned to invest $2.0 million in 2016 to produce more and better-quality plaster or metal tiles and lithographs. These silver and golden ornate tiles can be hung individually or displayed as a collection of various themes (i.e., sports, outdoors, wildlife, music, actors, religion) on living, dining, bedrooms or family room walls. Although Bill had ten years of experience as an artist in designing and developing these products, he had little experience in managing a business. He realized that this was his greatest weakness and was preventing his business from growing to its full potential. Therefore, he asked his son, Robert, who had graduated from Engineering and held a Master's Degree in Business Administration, to join his firm. Robert had six years of experience with a major consumer products company. Management's Background Prior to starting his business, Bill Madden had worked for twenty-five years in communications services for several federal government departments. When he took an early retirement in 2003 at the age of 50, and he decided to realize his dream of starting his own business. At the time of incorporation in 2008, sales began to accelerate, and the company moved from a hobby business to a full-time operating entity. That year, he decided to move the operating facilities from the basement of his house to a small space that he rented in an industrial park. Bill enjoyed the artistic side of the business. He liked to draw images. His friend, Harry Freeman, also a former federal public servant joined him in 2008. He was responsible for sales and general administration When Bill started his business, he sold his reproductions through small independent kiosk operators and even rented some kiosks himself on a short-term basis. He also advertised his products in catalogues to a wide-range of retail outlets particularly in the giftware business. As revenue continued to soar in 2014, he realized that he needed to invest money into his business and authomate his production operations. Both Bill and Harry believed that they needed professional help since they had no qualifications and experience in managing a business that required skills in the field of marketing, human resources, production, and finance. For that reason, they asked Robert, Bill's 31-year-old son to join the business and become president of Micro Tiles. Bill would be responsible for the product design a key factor in the success of the business. Harry would be responsible for sales and marketing activities, and Robert, as president, would be responsible for general administration. Micro Tiles Limited Micro Tiles Limited In 2014, Micro Tiles Limited was showing substantial growth. Revenue went from $1.0 million in 2011 to $2.0 million in 2014 (see appendix A). This huge gain was a result of sales agreements that Bill had signed with several giftware retailers. His catalogues also helped his business to gain recognition. A wide variety of retail outlets and consumers were becoming acquainted with Micro Tiles products. Even some major retailers began to show an interest in carrying his product lines. Bill signed a sales agreement during March 2014 with a major retailer. The retailer would market Bill's products on a trial basis in several stores across Canada. After several months, the consumer response appeared to be positive and Micro Tiles was becoming recognized as a leading monthly sales consignment supplier. This helped generate a 48% sales increase in 2013 (from $1,058,000 to $1,564,000). As the relationship with retailers matured, Micro Tiles introduced several changes in the way products were manufactured and marketed. In the past, the company designed a tile first and then created the promotional plan. Now, the development of new products would be based on consumer research and social trends. For example, the company would develop new product lines as a tribute to successful sports heroes. Retailers and consumers both showed considerable interest in this marketing scheme and this was considered the cornerstone of Micro Tiles' success Step by Step Solution
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