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This report summarises and evaluates several innovations that have been introduced to Formway Furniture Ltd since 2000.
The purpose of the report is to present recommendations that will guide Formway to continue to adapt, prosper, and grow from the foundations of the new capabilities the company has established since 2000.
Scope and method
The investigation undertaken evaluates secondary sources of data obtained from public sources. No contact was made directly with Formway or its associates. The business case method (Turner et al, 2009) was used as the basis for evaluating the source data informed by a sequence of questions specified by Mellalieu (2011).
The main results found are that since the year 2000, Formway has gained corporate recognition through its brand enhancement and the utilization of new techniques. The company has also analyzed the operation management and the enhancement of operations enhancements besides the technological innovations by 2011, Formway has now achieved the following key competitive strengths by introducing a state of the art chair, which has the comfort, consumer value and the reflection of the advancement of science and technology in itself.
On the basis of my investigation I recommend that Formway Furniture:
1. INVESTIGATE the market opportunities for other furniture complimentary products including tables and office furniture
2. ESTABLISH a diverse portfolio to reduce the business risk
3. To capture the existing market because of technology and the innovativeness of the company
4. TO generate a powerful strategy for the global expansion of the company, and the reduction of costs and increase in revenue