UNIT 1 COMPLETE QUESTIONS:PRINCIPLES OF MANAGEMENT
Sigma Marketing: Managing in a Changing Environment
Summarize the key facts of the case in a paragraph.
According to Ferrell, Gatewood, Gatewood, and Taylor, Donald Sapit President of Weston Laboratories; a small research facility southwest of Chicago hand an opportunity to acquire Dayne printing company at an attractive price since they were now on the verge of bankruptcy (Ferrell, Gatewood, Gatewood, & Taylor, 2010). In 1967, Don Sapit purchased the small printing company but still focused on his duties at Weston Laboratories and present managers at Dayne continued on to handle the operations of the company. During this period, the name was changed to Sigma Press, Inc. for corporate images and a new sales manager was hired to focus solely on sales of the business. Over a few years, the business showed small increases in volume, but still held their own even though little progress was made. Although Sigma was making little progress, Sapit continued to see potential for making it into a quality printing business that could make substantial gains against its local competition. Sigma marketing’s unique identity has evolved over the past forty years from a small-town printing company to a marketing service company with diversity. In learning more about his business, Sapit changed from production to marketing; by planning, organizing, leading, and controlling functions of management which shows Sigma is an excellent example of marketing decision making (Ferrell, Gatewood, Gatewood, & Taylor, 2010).
Sigma targeted a specific market segment that utilized desk pad calendars for advertising and sales promotion. In Seeking a friendlier climate, the administrative, marketing, and prepress production facilities were relocated to Florida in 1985. After moving, Don’s son, Mike, joined the business with a degree in Graphic Arts and later became President of Sigma In 1993 with Don as Chairman of the Board. A few Years after relocation, the product line was expanded to include new formats and sizes showing Sigma’s services and capabilities becoming more diversified because a trend in larger corporate clients were looking for unique calendars and multiple products. Sigma has provided great quality as well as custom promotional calendars for forty years with their professional staff being the backbone and heart of the business (Sigma Marketing; Our Story, 2012).
Ferrell, O., Gatewood, R., Gatewood, L., & Taylor, R. (2010). Principles Of Management. Savant Learning Systems, Inc. Sigma Marketing; Our Story. (2012). Powerful Promotions for Lasting Impressions. Retrieved from http://www.sigmamktg.com/our_story.html
1.Discuss how the four management functions (planning, organizing, leading, and controlling) are conducted at Sigma. Identify the goals Don Sapit established for each function.
After about a year of Sapit’s entry into the business, volume was up 50 percent with the response to the calendar marketing effort beginning to show promise. As a result, Sigma needed capital to finance this growth and use funds to finance day to day operations and expand accounts receivable that resulted from increased volume. In order to receive the capital, one-third of the company stock was sold through a private sell to Sapit’s friend; he will be serving in the capacity of corporate secretary, Legal counsel, board member, and advisor. Sigma’s commercial printing sales were on a rise and it was apparent that a larger facility would be needed or it would have to scale back so Sigma purchased a five acres site in Ottawa, IL and a new facility was constructed, with its focus being on improved production and image. Once again Sapit had a new vision and changed the strategic emphasis of the business; however over the next few years, Sigma Marketing...
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