-
Essay / History of Maple Leaf Shoes Limited - 849
In this report, research has been conducted on Maple Leaf Shoes Limited. The research begins with the presentation of the company. It further discusses the challenges the company faces after the takeover. The report also discusses the main responsibilities that a Maple Leaf Limited Human Resources Manager should have. Overview of Maple Leaf LtdMaple Leaf Shoes Ltd is a manufacturing company providing vinyl and leather shoes. It is located near Wilmington, Ontario. In 1969, the company began operations and today has 380 employees in warehouses and offices internationally and across Canada and 400 employees at its plant in Ontario. Company History In the late 1950s, Maple Leaf left home to start a new life in Canada. . He started with a stage show and a sailboat business which proved to be unsuccessful ventures for him. Later he had the idea of opening a shoe factory. When the bank noticed that his previous businesses were bankrupt and asked him for financial guarantee, he responded that people need shoes, as long as they can walk. Mansini was an enthusiastic and social person. He could persuade and influence the people around him. Because of his personality, the bank manager was convinced and gave him a small loan to start his new business. Mansini started his business by building a small factory near Wilmington with this bank loan. Additionally, some of his relatives and friends helped him financially. The small factory consisted of numerous temporary sheds where workers lived and slept and two floors of shoes. At the end of 1969, the company began operating. His small business grew nationally and regionally. Mansini was not educated, but despite this he was a successful businessman and has middle of paper ...... slowly increasing. Currently, labor costs are increasing rapidly and account for more than 45% of manufacturing costs. Over the previous three years, no increase in worker productivity levels was seen. If this continues, the company will lose its price advantage over its competitors. Out of six popular brands, two were sold by Maple Leaf Shoes at prices equal to or higher than its competitors. This stopped the profitability and growth of the company. Five years ago, the company experienced a drop in its stock price of $25. Therefore, the market reaction towards the company has not been favorable. In 2002, the company's situation deteriorated with the decline of the market. They cut the stock price to $11 and still haven't been able to recover. The financial details of the company are shown below in Figure 1. The figure shows the company's stock price over the past five years..