Premium Essay

Massey Fergusson

In: Business and Management

Submitted By rizwan802301
Words 2400
Pages 10
Modern Corporate Finance
FINE622
Professor: Dr. Adolfo de Motta

Case: Massey Ferguson
Due date: Sunday March 3rd

Students:
Chang, Kent #260474847
Itakura, Joseph #260532789
Prithweenarayana Bhat #260507101
Rizwan Ahmad # 260550158
Udagawa, Nao #260432352

Q1. Describe and assess the product-market and financial strategy Massey pursued through 1976. Where possible, compare Massey's strategy with those of its leading competitors.

Massey Ferguson, a true multinational company, is in the business of producing diesel engines, farm machinery and industrial machinery. In 1953, Massey-Harris merged with Harry Ferguson and formed Massey Ferguson by combining their skills to become the world’s largest supplier of diesel engines to equipment manufacturers and the world’s largest producer of farm tractors. Massey’s farm machinery line comprises of several agricultural equipment such as tractors, harvesters, implements etc. The industrial machinery line consisted of industrial tractors, tractor loaders, rough – terrain fork-lifts, utility loaders, log skidders and diesel engines. Diesel Engines were produced by Perkins Engine group in England which were used in Massey Ferguson’s equipment, over 50% of the products were exported to Massey Ferguson’s subsidiaries and affiliates.

Market-Product strategy
Massey Ferguson was supposed to be in the third position in the worldwide sales of arm equipment in the large North American farm equipment market. Massey Ferguson was well known in North America and Western Europe for producing farm and industrial machinery and had also dealings with governments and public dealings with government and public institutions in developing nations.

The regional alignment of the market for Massey’s farm equipment was not in harmony with its sales. At the margin, North America and the United Kingdom were the net…...

Similar Documents

Free Essay

Uk Society After the Second World War

...heterosexual union and was taken on as a life long commitment. Generally religion and the church would play a part in most family’s lives with religion taught in school during the week and Sunday school or church attendance expected at the weekend. Most men of that era were employed in the manufacturing or industrial sectors and these jobs were generally very secure, widely thought of as ‘jobs for life’. This was also the time when the welfare state was being established. This was intended to provide a good standard of healthcare, unemployment benefit, schooling, pensions and child benefit to the whole population, and would be free at the point of usage. This was touted as a ‘cradle to grave plan’ under an ‘all pay, all benefit’ system (Fergusson and Hughes, 2000, p.122). This system began to function very well under the prevailing conditions of almost full male employment. Crime rates were low and in general the police were respected, doctors were trusted and medical opinions rarely questioned. All in all this seemed like a period in which the majority of people were content and life in general was good, but was this really the case? For women in particular, life’s choices were severely limited. A wife would be financially dependant on her husband, and through the style of education provided for her she was more or less trapped in the position of housewife or similar low paid domestic work. Even though many women were perfectly happy and fulfilled in these roles, choices......

Words: 1898 - Pages: 8

Free Essay

Indian Music

...culture and traditions, and so is the Indian classical music. The tones and sounds of the Indian music bear influence from the Hindu religion and their culture. Instrumentation and notation has been quite unique unlike the Western music. Ravi Shankar is among Indian musicians who have revolutionalized the classical Indian music and has won three Grammy Wards. Although Shankar interacted with other artists from other cultures, his music reflects on the Indian musical traditions. The classical Indian music is reputed style of music which even today espouses the aesthetics of the ancient times despite having had influence from other genres of music (Massey & Massey, 1996). The classical music of India is categorized into two; the Hindustani music which is from Northern Indian region and Carnatic music from Southern India. Massey and Massey (1996) argue that a common similarity of the two genres is that they employ one raga per song and the music has heavy improvisation element. Raga is what may be compared to mode or scale in Western music. The difference is evident because Hindustani music has the heavy influence of Persian music as opposed to Carnatic music and vocalist element is emphasized in Carnatic music than in Hindustani music. The Indian music is characteristic of tala which is considered as rhythmic pattern enhanced by drums called the tabla and the accompaniment the stringed instrument, the Sitar, which has been compared with the Western harpsichord. The Indian......

Words: 439 - Pages: 2

Free Essay

Music

...culture and traditions, and so is the Indian classical music. The tones and sounds of the Indian music bear influence from the Hindu religion and their culture. Instrumentation and notation has been quite unique unlike the Western music. Ravi Shankar is among Indian musicians who have revolutionalized the classical Indian music and has won three Grammy Wards. Although Shankar interacted with other artists from other cultures, his music reflects on the Indian musical traditions. The classical Indian music is reputed style of music which even today espouses the aesthetics of the ancient times despite having had influence from other genres of music (Massey & Massey, 1996). The classical music of India is categorized into two; the Hindustani music which is from Northern Indian region and Carnatic music from Southern India. Massey and Massey (1996) argue that a common similarity of the two genres is that they employ one raga per song and the music has heavy improvisation element. Raga is what may be compared to mode or scale in Western music. The difference is evident because Hindustani music has the heavy influence of Persian music as opposed to Carnatic music and vocalist element is emphasized in Carnatic music than in Hindustani music. The Indian music is characteristic of tala which is considered as rhythmic pattern enhanced by drums called the tabla and the accompaniment the stringed instrument, the Sitar, which has been compared with the Western harpsichord. The Indian......

Words: 439 - Pages: 2

Premium Essay

Estelle Massey Osborne

...Estelle Massey Riddle Osborne: A Nurse Leader in Diversity Excelsior College July 31, 2012 Excelsior College, Liberty University, Old Dominion University, St. Joseph’s College are all colleges that offer baccalaureate degrees for nursing. These are only a few of the thousands of programs that are currently available either on campus or on-line to men and women of every race. This was not always the case. During the Civil War, black codes were in place in both the north and the south. These black codes were designed to hinder the progress of blacks and to limit access to institutions of learning and employment opportunities (NBNA, 2012).By 1900, of the four hundred thirty two schools that were open to women in the United States; only ten were open to blacks. For over forty-three years, Estelle Massey Riddle Osborne fought to eliminate discrimination and was relentless in her actions to assure future blacks had opportunities to obtain higher levels of education, be employed in higher supervisor positions in nursing, and be accepted and welcomed in professional nursing organizations (Grime, 2003). In the journal article, Great black nurses: Estelle Massey Osborne, the author Marie O. Pitts (2002) speaks of Osborne’s exceptional journey. Estelle was born May 3, 1901 in Palestine, Texas. She was one of eleven children. Her father was a handyman and her mother was a homemaker. Even though her parents did not have professional careers, they were the most......

Words: 2599 - Pages: 11

Premium Essay

Free Trade Analysis

...duty-free goods. Items excluded from NAFTA ran an average of 7% tax, while agricultural goods held at a steady 11% import tax from Mexico (Villarreal & Fergusson, 2013). Prior to 1994 and the establishing of NAFTA, a pre-existing FTA between Canada and the US established good trade relations between the two countries, and the agreement saw little change. The most significant modifications to the previous FTA occurred in the textile, apparel, automotive and agricultural industries. While NAFTA increased availability of trade between The United States, Canada and Mexico, it also created more opportunity for other countries to engage in FTAs by encouraging trade efficiency and economic growth. Much turmoil occurred with the discussion of the NAFTA; proponents believed that thousands of jobs would be created in the US while reducing income disparity. However, many argued that instead of generating jobs, The US would move production to Mexico because of the lower costs and in turn the US would experience a huge job loss. The NAFTA has been a successful FTA and the trilateral trade agreement has grown over the $1 trillion marker. “Between 1993 and 2012, total U.S. trade with Mexico increased by 506%. In comparison, U.S. trade with Canada increased by 192% while trade with non-NAFTA countries increased by 279%” (Villarreal & Fergusson, 2013). The positive influence of the NAFTA created economic growth in the U.S., however, the total trade between both Mexico and Canada was less......

Words: 756 - Pages: 4

Premium Essay

Mentoring the Workplace

...taken from Southlink Health’s mentoring program which aims to target those new to the specialty of practice nursing. A mentor is a skilled person with experience and knowledge to fulfill the role of trusted friend, advocate and advisor. The mentor guides, counsels and supports the primary care nurse in a clinical, educational and or supervisory capacity (Fergusson, L. 2005). According to the Stewart BM, Krueger LE, 1996, “Mentoring in nursing is a teaching-learning process acquired through personal experience within a one-to-one, reciprocal, career development relationship between two individuals diverse in age, personality, life cycle, professional status, and/or credentials. The nurse dyad relies on the relationship in large measure for a period of several years for professional outcomes, such as research and scholarship; an expanded knowledge and practice base; affirmative action; and/or career progression. Mentoring nurses tend to repeat the process with other nurses for the socializations as scholars and scientists into the professional community and for the proliferation of a body of nursing knowledge” (Fergusson, L. 2005) Definition of formal mentoring:- formal mentoring is defined as structured relationship between the mentor and protégé with the set of goals(Rolfe, A. 2010). In a formal mentoring relationship, there is discussion of expectations, goals and the process to be used. The frequency and duration of contact is agreed and ground-rules are established...

Words: 3175 - Pages: 13

Premium Essay

In What Ways Do Social Class, Gender and Ethnicity Intersect with Educational Achievement? Provide Some Examples to Illustrate Your Answer.

...the importance of each of these factors in determining the achievement of individuals and groups in education and the reasons behind their importance. Over the last ten years, the gender gap between the achievement of males and females in education has been growing in developed countries. (Gibb, Fergusson and Horwood, 2008) On average, girls in England achieve better results in most subjects at all levels of education. The issue is not confined to the UK as the problem also presents itself in other countries. (Machin and McNally, 2005) Women in the USA have continued to be more educated than men since the mid 1970’s. (Charles and Luoh, 2003 in Machin and McNally, 2005) Females attain more school and post school qualifications than males and also attend university in higher numbers. (Alton-Lee and Pratt, 2001, in Gibb, Fergusson and Horwood, 2008) National statistics for 2004 reveal a 10 per cent difference in percentage points of males and females with five or more GCSE’s at grades A*-C. (Machin and McNally, 2005) In the past, males have always performed better on average, in maths and science. However, this advantage is disappearing. (Benbow and Stanley, 1980, in Gibb, Fergusson and Horwood, 2008) By 1998, girls were outperforming boys by one percentage point. (Machin and McNally, 2005) Girls have always performed better in English than boys and this shows no signs of change with the gap having doubled since the mid 1980’s. (Machin and McNally, 2005) Many theories......

Words: 1675 - Pages: 7

Premium Essay

Massey Ferguson

...Finance Case Report: Massey Ferguson Group 9: LENDERS 2 Massey-Ferguson, a multinational producer of farm machinery, industrial machinery and diesel engines, was founded in 1847. In 1980, Massey is the largest producer of farm tractor (17% of world market share) and the largest supplier of diesel engines, registering total assets of $ 2827.6 mln US$, annual sales of $3132.1 mln US$ and a loss of 225.2 mln US$. Figure 1 shows Massey’s sales in the previous 10 years. It is evident that the company registered a high growth rate until 1975. During the 1960s and 70s, Massey had an ambitious program of expansion. But in the last 70s, it faced huge problems with sales. The macroeconomic situation was changing: the price of oil drastically increased and the farm price and income in North American market dropped down. (Figure 2) Massey’ s difficulties: Current Lenders’ situation At the beginning of the fiscal year 1981 the company presents outstanding debts for 2.5 bln US$. The short term debt accounts for 43% of the total amount (1.075 bln US$). In 1980 the D/E ratio is 214%, which is relevantly above the average level of the competitors. It is thus evident that our position as lenders results particularly risky since the company won’t be able to repay the debt due by the 1st November. Indeed, the growth of the company was massively financed by short term debt, whose impact in terms of the interest rate expenses deteriorated the credit-worthiness of the company. The......

Words: 1640 - Pages: 7

Premium Essay

An Employer and Its Lack of Concern for the Safety of Its Employees

...Virginia. The name of this coal mine was the Upper Big Branch Mine and it was run by Massey Energy Company. 61 miners were underground at the time of the explosion and 29 of them were killed, making this disaster one of the worst mining tragedies in US history . The MSHA, or the Mine Safety and Health Administration, released a final report concluding that this explosion was caused by a mixture of coal dust and methane, but that was just the actual physical cause. There were several other factors that led to this explosion, and many things could have been done to prevent this tragedy. Luckily for the miners, the explosion at Upper Big Branch was the only big disaster, but Massey Energy and the CEO, Don Blankenship, could easily be held accountable for the explosion. One reason was because of the moral standard that Massey Energy Company failed to follow. They failed on their duty owed to the miners, by deliberately treating them in a way in which they didn’t freely and rationally consent to, and were in turn treated as a means to an end, in order to maximize profits at all costs. Also, Massey Company’s unfair treatment towards its miners created a dangerous environment, beyond the regular risks that are expected at a mine. This was to keep profits the main priority even over employee safety, thus using the employees as a means to an end, and therefore Massey Company acted immorally. In 2010, Massey Energy Corporation was one of the leading coal producers in the United......

Words: 1383 - Pages: 6

Free Essay

Plessy V Fergusson

...Plessy v. Ferguson Case Brief Diego Yanez Arizona State University In the case of Plessy v. Ferguson, Homer Adolph Plessy made the decision of suing the city of Ferguson when he, a 7/8th's Caucasian man, was arrested for sitting in a "whites only" car and for refusing to move to the "blacks" section of the train, something fairly familiar in the late 1800’s where “separate but equal” was enforced not only in trains and other forms of transportation, but in schools and even something as small as bathrooms and drinking fountains. In this case, Plessy argued that his Thirteenth and Fourteenth amendments had been broken. The question throughout the case is if Louisiana’s law requiring racial segregation on public transportation was infringing upon the constitutional rights of African Americans. In a seven to one vote, the supreme court decided for Ferguson where Justice Henry Brown wrote a majority opinion and Justice John Marshall Harlan wrote a dissenting opinion. Justice Henry Brown pointed out that the Fourteenth Amendment did not have anything to do with social equality, the Amendment was referring to equality in the form of law. The seven Justices who decided to vote in favor of Ferguson, did not believe that the separation of race by law “stamps the colored race with a badge of inferiority”. (Plessy v. Ferguson, 1896) The Justices firmly believed that one case would not change racial prejudice throughout the city or state,......

Words: 555 - Pages: 3

Free Essay

Math

...Juan Sanchez Dr. Bridgette McAden MAT 110/50 February 27, 2012 William A. Massey – Mathematician He was born in Jefferson City, Missouri, as the younger of two sons of Richard and Juliette Massey. He is a graduate of the public schools of St. Louis, Missouri and attended high school in University City, a suburb of St. Louis. After receiving a Harvard Book Award and a National Achievement Scholarship at University City High School, he entered Princeton University in 1973. There, he encountered his first real introduction to research mathematics in an honor calculus course taught by the late Ralph Fox. He wrote his undergraduate senior thesis, titled "Galois Connections on Local Fields,'' in algebraic number theory, under the direction of the late Bernard Dwork, and graduated from Princeton in 1977 with an A.B. in Mathematics (Magna Cum Laude, Phi Beta Kappa, and Sigma Xi). That same year he was awarded a Bell Labs Cooperative Research Fellowship for minorities to attend graduate school in the department of mathematics at Stanford University. In 1981, he received his Ph.D. degree from Stanford and his thesis, titled "Non-Stationary Queues,'' was directed by Joseph Keller. Dr. William Massey's parents, Juliette and Richard Massey Sr. were both educators; she was from Chattanooga, Tennessee and he was from Charlotte, North Carolina. They met at Lincoln University in Jefferson City, Missouri which became his birthplace. Professor Massey's initial fascination with numbers...

Words: 1118 - Pages: 5

Premium Essay

Massey-Ferguson, 1980: Case Study Solution

...Massey-Ferguson, 1980 Case Study Solution Q1) Assess the product-market strategy and financial strategy Massey pursued through 1976. Where possible, compare Massey’s strategy with those of its leading competitors. Market strategy Massey is a multinational company and has a series of products. It produces farm and industrial machinery and diesel engines, which contributes to 80% and 20% of sales respectively. The farm and industrial machinery has two product lines: the farm machinery line and industrial machinery line. The former produces tractors, combine harvesters, balers, forage harvesters, cane harvesters, agricultural implements, farmstead equipment and other equipment for agricultural purpose, while the latter produces different types of loaders. Massey had been a large provider of the agricultural equipment because it was holding 17% market shares for tractors, 14% market shares for combines and 13% market for machinery worldwide in the year 1980. Although accounting for 20% of sales, the diesel engines are products promising for future growth. However, the engines were produced by Perkins Engine Group in England, where the currency was strong and margins became low. In terms of market distribution, the company’s main focus moved to less-developed places such as Peru, Pakistan and Egypt. The shift to overseas market in less-developed countries made the company lag behind in research and development to make high-tech products to attract customers in the North......

Words: 1914 - Pages: 8

Free Essay

Ethics Analysis Paper

...(UBB) coal mine owned by the Massey Energy Corporation all perished in the largest mining disaster in over four decades. The dilemma that I will analyze in my paper is whether Massey Energy acted in an ethical manner with regards to the events at the UBB mine. The dilemma will be analyzed using two different ethical principles, the principle of lawfulness and the principle of harm. Along with the ethical principles, Massey will be subject to two different methods of ethical reasoning. These two methods are the human rights and utilitarian methods. After analyzing their actions in accordance to these principles and methods, I concluded by all accounts that Massey did not act in an ethical way. Ethical principles are society’s guide to moral behavior. They are basic behavioral rules that are considered essential for the preservation and continuation of organized life. One principle for ethical and moral behavior is the principle of lawfulness. This principle states that individuals are to not violate the law in order to act in an ethical fashion. Massey Energy Corporation was known for not adhering to governmental mandates that ensured the safety of the environment. Two years prior to the disaster at UBB, Massey violated policies in the Clean Water Act, and was forced to pay $20 million. The corporation received hundreds of citations in regards to site violations at the UBB site alone. The second ethical principle I will use to judge the actions of Massey is the principle of......

Words: 974 - Pages: 4

Free Essay

Massey Wu Mgt Sci Paper 2005.Pdf, Fehr Failed Replication.Pdf Summary

...and underreactions to such changes in regimes happened. We will be focusing on the system neglect hypothesis proposed by Massey and Wu in their 2005 paper, giving a convincing argument that contestants often overreact in stable environments with noisy signals, and tend to underreact in unstable environments with precise signals. Upon considering regime shifts, this paper also differentiates the hypothesis further by distinguishing between a positive and a negative shift. We assume that the risk attitude of individuals may differ if the shift incurs greater losses or if it stops the losses, and eventually manipulating their ability to detect that change. To be able to understand the changes towards risk we will develop Prospect theory (Kahneman and Tversky, 1979), which states that individuals take their decision based on the potential loss rather than the outcome. In other words, the contestants will respond differently if they start in the Loss Domain than if they start in the Zero Domain. We have created two different simulations (One where players start in a losing state that shifts to a neutral one, and viceversa for the second game) and we belive that depending on how we have presented the simulation to the participants, they will react differently, and hence we will obtain different outcomes. This paper will build on the experiment used by Massey and Wu (2005), applying their approach with an Insurance scenario of buyers and sellers in two different Domains,......

Words: 1919 - Pages: 8

Premium Essay

The Doha Round

...Parthapratim, P. (n.d.). Implementation Issues of the Agreement on Agriculture and . Retrieved August 29, 2012, from http://www.networkideas.org/focus/sep2002/AOA.pdf 2 Parthapratim, P. (n.d.). Implementation Issues of the Agreement on Agriculture and . Retrieved August 29, 2012, from http://www.networkideas.org/focus/sep2002/AOA.pdf 3 Bryn, M. (2008). The Doha Round: Objectives for Trade and Agriculture. 4 Bryn, M. (2008). The Doha Round: Objectives for Trade and Agriculture. 5 Bryn, M. (2008). The Doha Round: Objectives for Trade and Agriculture. 6 Fergusson, I. F. (2008). World Trade Organization Negotiations: The Doha Development Agenda. Congressional Research Service. 7 Fergusson, I. F. (2008). World Trade Organization Negotiations: The Doha Development Agenda. Congressional Research Service. 8 (2008). WTO Doha Negotiation, Achievements of the Doha Development Round to Date. South African Mission Geneva. 9 Fergusson, I. F. (2008). World Trade Organization Negotiations: The Doha Development Agenda. Congressional Research Service....

Words: 846 - Pages: 4