Case Study - Michael Petrov
Traditional Case - Michael Petrov
In a narrative format, discuss the key facts and critical issues presented in the case.
Michael Petrov was a 47 year-old safety inspector for the Metropolitan Transit Authority. He was a Ukrainian immigrant who came to America during the reconstruction of the Soviet Union known as Perestroika. Arriving in America during the latter part of 1991 with only $200 in his pocket, Michael knew he would have to struggle, but came to build a career. Struggle, he did, but it had begun to really pay off. Michael worked as a teacher in his homeland, but studied engineering and business, learned English, and obtained his U.S. citizenship in order to attain his goal. In 1992 Michael met and eventually married Natasha, a fellow immigrant from the area near Chechnya, Russia. Natasha had studied to be a pediatrician, but felt that she would be better served in the states as a computer analyst.
Together they worked hard and saved, purchasing a home in Levittown in Nassau County, New York, in 1995 and bringing Michael’s parents from Russia to live with them. They researched and studied various businesses as investments and decided to purchase a laundromat in Glen Cove about 20 minutes from their home, which they renamed Clean-Rite. In August of 2001 they refinanced their home and bought the business for $125,000, which included a 600 square feet facility and all of the equipment. The area had relatively low crime, several renters who would not have access to their own washers and dryers, and very little competition. The business had been established for 9 years and allowed them to learn the ropes. They added a drop-off service utilizing Michael’s 77 year-old father to deliver laundry to their customers. They employed three Hispanic women as employees, since the area was primarily Hispanic. The business prospered, and they decided to continue to grow.
After much investigation they decided to lease property in College Point, Queens, borrowed
In a narrative format, discuss the key facts and critical issues presented in the case.
Michael Petrov was a 47 year-old safety inspector for the Metropolitan Transit Authority. He was a Ukrainian immigrant who came to America during the reconstruction of the Soviet Union known as Perestroika. Arriving in America during the latter part of 1991 with only $200 in his pocket, Michael knew he would have to struggle, but came to build a career. Struggle, he did, but it had begun to really pay off. Michael worked as a teacher in his homeland, but studied engineering and business, learned English, and obtained his U.S. citizenship in order to attain his goal. In 1992 Michael met and eventually married Natasha, a fellow immigrant from the area near Chechnya, Russia. Natasha had studied to be a pediatrician, but felt that she would be better served in the states as a computer analyst.
Together they worked hard and saved, purchasing a home in Levittown in Nassau County, New York, in 1995 and bringing Michael’s parents from Russia to live with them. They researched and studied various businesses as investments and decided to purchase a laundromat in Glen Cove about 20 minutes from their home, which they renamed Clean-Rite. In August of 2001 they refinanced their home and bought the business for $125,000, which included a 600 square feet facility and all of the equipment. The area had relatively low crime, several renters who would not have access to their own washers and dryers, and very little competition. The business had been established for 9 years and allowed them to learn the ropes. They added a drop-off service utilizing Michael’s 77 year-old father to deliver laundry to their customers. They employed three Hispanic women as employees, since the area was primarily Hispanic. The business prospered, and they decided to continue to grow.
After much investigation they decided to lease property in College Point, Queens, borrowed
References: Marketing strategy. (n.d.). QuickMBA. Retrieved March 28, 2012, from http://www.quickmba.com/MarketingStrat.shtml Parnell, J. A. (2008). Strategic management: Theory and practice. (3rd ed.). Cengage Learning. Strategic Planning Handbook. (2001, May). Special Libraries Association. Retrieved March 30, 2012, from http://www.sla.org/pdfs/sphand.pdf The strategic planning process. (n.d.). QuickMBA. Retrieved March 28, 2012, from http://www.quickmba.com/strategy/strategic-planning/ What is strategic planning? (n.d.). National Alliance for Media Art and Culture. Retrieved March 29, 2012, from http://www.namac.org/strategic-planning-what