Silver Ships Case Study
Silver Ships is not as well prepared for the future as it could be in terms of succession planning, diversification and capital structuring. The attached report recommends that Mike McCarty take immediate action to establish a strong plan for the future of the company. The company is currently funded entirely by equity, and the appropriate use of debt to grow the company would provide for opportunities to expand and diversify. McCarty must rely on his vision and innovative skills to expand and promote future Silver Ship models. As Silver Ships grows, McCarty must recognize that he can’t be there forever and for his dream to continue, he must shift his strategic focus towards a succession plan for his company.
Mike McCarty, CEO of Silver Ships, is a tenacious business leader and innovator. He has a natural ability to transform his passion and understanding of the ship building business into a strategy that has helped evolve his company into an industry leader. Silver Ships’ strategic market positioning continues to capture new sales opportunities. This is a reflection of McCarty’s innate ability to predict and embrace the evolution of the boating industry. Since 1985, McCarty has led Silver Ships through countless changes and has positioned his company well for success through this next round of evolution.
1. What are the key elements of Silver Ship's strategy? Which of the five generic strategies is the company pursuing?
Silver Ships is pursuing a focused differentiation strategy. The company, led by founder Mike McCarty, is focused on the highest possible quality and performance. The company's strategy is to appeal to a discerning buyer who is willing to pay a premium price for a custom made boat built with the very best materials using the newest innovative techniques. This strategy is evident in the use of aluminum rather than less expensive materials, the investment in facilities to protect the boats and materials at every stage of production, and
Mike McCarty, CEO of Silver Ships, is a tenacious business leader and innovator. He has a natural ability to transform his passion and understanding of the ship building business into a strategy that has helped evolve his company into an industry leader. Silver Ships’ strategic market positioning continues to capture new sales opportunities. This is a reflection of McCarty’s innate ability to predict and embrace the evolution of the boating industry. Since 1985, McCarty has led Silver Ships through countless changes and has positioned his company well for success through this next round of evolution.
1. What are the key elements of Silver Ship's strategy? Which of the five generic strategies is the company pursuing?
Silver Ships is pursuing a focused differentiation strategy. The company, led by founder Mike McCarty, is focused on the highest possible quality and performance. The company's strategy is to appeal to a discerning buyer who is willing to pay a premium price for a custom made boat built with the very best materials using the newest innovative techniques. This strategy is evident in the use of aluminum rather than less expensive materials, the investment in facilities to protect the boats and materials at every stage of production, and