BUA 472, Section B
January 24, 2012
Father Daniel Mary, Prior of the Carmelite Monks of Wyoming, has a vision to expand his monastery by purchasing the Irma Lake Ranch property, which lists at $8.9 million. The Carmelite Monks of Wyoming have a company called Mystic Monk Coffee. The monks sell different varieties of coffee, along with gift cards, T-shirts, and other material products on their website to raise money for purchasing the ranch property. Mystic Monks primary target market is other Catholics who love specialty coffee and want to spend their money helping their Catholic family. Father Daniel Mary does not have the best business strategy for accomplishing his long-term goal. My recommendations for him would be to set short-term and long-term goals, explore investment opportunities, and advertise to other Catholic dominated countries.
Father Daniel Mary is the Prior of the Carmelite Order of monks in Clark, Wyoming. As of now the Carmelite monks consist of only thirteen monks. Father Daniel Mary has a vision to transform the Wyoming Carmelite small monastery into one that accommodates to thirty monks, a Gothic church, a convent for Carmelite nuns, a retreat center for lay visitors, and a hermitage. However, the ranch property he is hoping to gain for this new monastery costs $8.9 million. His vision for Mystic Monk Coffee is that the operations will fund the purchase of the ranch. The mission of the Carmelite Monks of Wyoming is making certain that applicants understand the reality of the vows of obedience, chastity, and poverty and the sacrifices associated with living a cloistered religious life ( ).
From reading this case it does not appear that Father Daniel Mary has set definite objectives or performance targets. He does have a goal of being able to afford the ranch property, however that is a long-term goal. Having little experience in business matters, Father...