Filmore case
Alternatives
1. Sell the Business for $2 Million
Pros:
Mrs. Filmore wouldn’t have to stress about finding a manager
She would have money to invest in other potential businesses
Cons:
She would be letting the family business and her late husband’s families legacy die
The money she would get from the sale wouldn’t be a long-term financial solution
She would have no other source of income
2. Merge with another company
Pros:
She wouldn’t be responsible for managing the business
She would still be making money without having to be directly involved with the company
Maintain the time she would have to take care of her two kids
Cons:
She would lose control of Filmore
She wouldn’t be kept in the loop in the managing decisions of the company
3. Hire an experienced manager
Pros:
The company would most likely continue to succeed because it had good prospects for success. An experienced manager would be able to help keep the company running effectively
Canadian furniture is less expensive in the USA which means the industry would be expected to recover over the next couple of years. An experienced manger would be able to keep the company running smoothly until the industry recovers
She would have someone who knows the business and knows how to manage to do the work for her without her getting too much involved
Cons:
The manager could fail and there would be no one else with experience to run the company
The manager could make the wrong decisions and could cause the company to go bankrupt
1. Sell the Business for $2 Million
Pros:
Mrs. Filmore wouldn’t have to stress about finding a manager
She would have money to invest in other potential businesses
Cons:
She would be letting the family business and her late husband’s families legacy die
The money she would get from the sale wouldn’t be a long-term financial solution
She would have no other source of income
2. Merge with another company
Pros:
She wouldn’t be responsible for managing the business
She would still be making money without having to be directly involved with the company
Maintain the time she would have to take care of her two kids
Cons:
She would lose control of Filmore
She wouldn’t be kept in the loop in the managing decisions of the company
3. Hire an experienced manager
Pros:
The company would most likely continue to succeed because it had good prospects for success. An experienced manager would be able to help keep the company running effectively
Canadian furniture is less expensive in the USA which means the industry would be expected to recover over the next couple of years. An experienced manger would be able to keep the company running smoothly until the industry recovers
She would have someone who knows the business and knows how to manage to do the work for her without her getting too much involved
Cons:
The manager could fail and there would be no one else with experience to run the company
The manager could make the wrong decisions and could cause the company to go bankrupt