To the board of directors,
Bikes Bikes Bikes is a company that aims to produce the highest quality mountain, road, and youth bikes to our consumers while maintaining and improving the overall performance of our business. As the president and the CEO of Bikes Bikes Bikes, I am proud to present to you the review of the decisions and performances for the time period from January 1st, 2015 to December 31st, 2020. The report is intended to outline details of varying factors that have influenced each years decisions for Bikes Bikes Bikes, which have resulted in both negative and positive impacts. With continuous improvement , the business is increasing at a steady rate. The firm’s goal was not only to achieve the highest SHV in comparison to our competitors, but was also to appeal to the maximum number of potential consumers and in result achieve the highest market share within the industry. Through our dedication, willpower, and ambition the company has successfully been able to achieve many of the goals that we had set out for ourselves. Bikes Bikes Bikes started out with a SHV of $10.82 and is at a current stance of $42.37. It has also effectively acquired the highest market share of 28.9%, surpassing the closest competitor by a significant 7%.
As at the beginning of 2015, the strategy that our business had decided to implement was the specialization of producing high quality and high priced bicycles. This strategy came to be through the extensive research conducted by the firm’s management team in which they discovered that the first set of bikes - mountain bikes, had a medium sensitivity to quality and price. As previously mentioned, our goal revolves around providing our consumers with a high quality bike. Moreover, Bikes Bikes Bikes’ management team also focused extensively on the firms brand awareness and advertising to induce more value and provide incentive for future consumers.
After the steady development of mountain bikes, a new line of road bikes were launched in 2018, followed by the introduction to a second segment of the road bike in 2019, and lastly a line to appeal to the youth community in 2020. The team critically analyzed multiple strategies and made decisions over the course of the past six years with plans that looked upon maximizing aspects such as SHV, market share, quality and efficiency indexes and minimizing aspects that could be of potential harm such as debt, wastage, and unnecessary expenses. Although the firm incurred challenges at times, the company was able to encounter an incline at a constant rate in which was a direct result of carefully planned meetings that occurred twice a week.. Moreover, Bikes Bikes Bikes management team created and maintained strong relationships with the market by providing generous support distribution. A detailed elaboration on the various decisions made by my team and I will be elaborated on in the following report. Sincerely,
President & CEO of Bikes Bikes Bikes
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All team members have referenced and footnoted all ideas, words or other intellectual property from sources, other than the data provided in the multi-player version of Mike's Bikes, used in the completion of this assignment.
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