Opportunities for growth

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Junior (College 3rd year) ・Business ・MLA ・1 Sources

Cervus Equipment is challenged with maintaining momentum despite the ongoing economic downturn after growing unhindered over the years from $56 million in 2003 to $ 784 million. The leadership team is thinking about how to take advantage of the growth prospects available so that the business can maintain its momentum. A few of the strengths and market prospects mentioned that work in the company's favor include a solid brand, a sizable market presence in Northern America, a customer-focused expansion strategy, outstanding market performance, and an expanding market for farming equipment. In instance, there will be a 7.3% increase in demand for combines, a 2.2% increase for large tractors, and a 1.6% increase for 4WD tractors (Doiron and Schryer 13).

On the other hand, some of the challenges addressed in the study entail an expanding staff force, limited variety of farming machinery products, and a dying value-based employee model. Also, leaders at the company are hesitant of leaving an entrepreneurial organizational structure for the more decentralized structure for fear of losing power over decisions. Using strengths mentioned above and addressing the mentioned challenges, the company can expand its services and products through strategic acquisitions. Nonetheless, it will require educating and sensitizing leaders, demanding more of value input by employees, and delegating decision-making to ensure flexibility. In particular, the approach above together with Cervus strong financial position will make achieving the strategy possible. In truth, using organic growth is limiting in the phase of a limited range of products. The most significant threat facing acquisition is the high rate of failure (80%) that ought to be addressed. The management admits that reproducing the successes of the past nine years will be impossible using the same organic growth strategy. Overall, Cervus Equipment urgently needs to integrate acquisition as its growth strategy to avoid losing the momentum in the phase of economic turmoil. The market situation coupled with the firm's internal strengths favor this policy. If well implemented, Cervus Equipment is likely to replicate its prior successes again.

Work Cited

Doiron, Daniel, J. and Davis Schryer. Cervus Equipment Corporation: Harvesting a New Future. Case Study, IVEY Publishing, Version 2014-11-18.

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