Human Resource Management - Business Research Paper

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Human Resource Management - Business Research Paper
In 1999, John B. Smith had become Chairman and Chief Executive Officer of SMC. It was under his leadership that the company engaged in its negotiations to restructure and strive for a stronger balance sheet with a new focus on growth. In 2000, SMC had two primary operating companies Broyhill and Lane in furniture manufacturing. In late 2001 SMC acquired Thomasville Furniture Industries, Inc. Foreseeing the future as SMC is manufacturing globally, they believed for future opportunities and growth they would need to change their name. In March 2004, in recognition of its new focus, and its new status as a leader in the furniture industry, the company changed its name to SMC International, Inc. The company’s next major acquisition over the next two years will be the purchase of Andari Furniture Industries as of October of 2005, JD Heritage Furniture Industries, and Ashby’s Furniture Industries by the last business day of 2006. These companies provided the company with a dominant presence in the high end of the furniture marketplace, and broadened the company’s offerings to include furniture at all price points. SMC International, Inc. is now established as the one of the largest residential furniture manufacturer in the country with six of the industry’s most recognizable brand names, positive recommendations from leading industry analysts, and bright prospects for continued future growth. As the company pursues opportunities in offshore sourcing and strengthens its dedicated distribution — particularly single-branded stores — SMC International, Inc. is transforming itself from a mere furniture manufacturer to a branded consumer products company, with a heightened focus on its brand names and on its direct relationships with the furniture consumer. The company’s stated mission is to become the industry’s undisputed leader by offering exceptional product and at the same time to deliver outstanding shareholder...
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