High Performance Tires
High Performance Tires
High Performance Tire is a retail tire chain and was formed by Harry and Edna Wallace in 1952. Around the 1960’s they passed it down to their daughter Jane Wallace. And then in 2001, Jane transferred her responsibilities to her son William for day-to-day management. However, William had always had a privileged and carefree life and it seemed that even with his MBA in both marketing and finance, he would not be able to run the company successfully. His actions led to Jane having to step in by early 2004.
During William’s period of management, he had three major concepts that he wanted to implement. The first two things were part of his strategy of a major expansion plan into effect. The first was to expand the number of retail tire outlets in smaller communities. The second was to diversify the products provided at each of the outlets to include higher margin automotive maintenance services including fluid changes, tune-ups, alignments, batteries, and brakes. The third concept that he implemented was to cut costs in the company. Although not bad concepts, each one ultimately led to problems within the company. William was not able to implement them effectively and ultimately was a bad strategy.
His strategy had many issues regarding their lack of awareness in regards to their customers and in regards to his employees. The article SWOT Analysis by James Manktelow, explains that it can also be useful to perform a SWOT analysis on your competitor. A SWOT analysis consists of evaluating a company’s strengths, weaknesses, opportunities, and threats. William Wallace should have done this to find out what aspects of his competitors create lasting customers and quality service. Customers found problems with the inconvenience of having to make an appointment and also did not like that they had to wait for a long time for their car to be finished. Also, they had a number of accidents that High Tire Performance was at fault for and they wanted to
High Performance Tire is a retail tire chain and was formed by Harry and Edna Wallace in 1952. Around the 1960’s they passed it down to their daughter Jane Wallace. And then in 2001, Jane transferred her responsibilities to her son William for day-to-day management. However, William had always had a privileged and carefree life and it seemed that even with his MBA in both marketing and finance, he would not be able to run the company successfully. His actions led to Jane having to step in by early 2004.
During William’s period of management, he had three major concepts that he wanted to implement. The first two things were part of his strategy of a major expansion plan into effect. The first was to expand the number of retail tire outlets in smaller communities. The second was to diversify the products provided at each of the outlets to include higher margin automotive maintenance services including fluid changes, tune-ups, alignments, batteries, and brakes. The third concept that he implemented was to cut costs in the company. Although not bad concepts, each one ultimately led to problems within the company. William was not able to implement them effectively and ultimately was a bad strategy.
His strategy had many issues regarding their lack of awareness in regards to their customers and in regards to his employees. The article SWOT Analysis by James Manktelow, explains that it can also be useful to perform a SWOT analysis on your competitor. A SWOT analysis consists of evaluating a company’s strengths, weaknesses, opportunities, and threats. William Wallace should have done this to find out what aspects of his competitors create lasting customers and quality service. Customers found problems with the inconvenience of having to make an appointment and also did not like that they had to wait for a long time for their car to be finished. Also, they had a number of accidents that High Tire Performance was at fault for and they wanted to