For this assignment, APA format must be used as you answer these questions in paragraph form. Be sure to include a title page, a reference page, and in-text citations. This case study includes using the knowledge you have gained from readings throughout the course. Some questions have multiple parts, please ensure you are addressing all of them
Research Willis Carrier and the history of the air conditioning industry using the listed resources to answer the following questions in this Final Case Study.
The minimum word count for this paper is 2000 words not including reference and title information
Carrier Corporation – A Chilly Idea
Willis Carrier invented the air conditioner in 1902 to solve a variety of problems that manufacturers were experiencing with their raw materials. The Carrier Engineering Company, formed in 1915, went on to develop products that would air-condition large spaces including those outside of the manufacturing area. That feature became an effective marketing tool for retailers and eventually spread to practically every form of space occupied by humans in every country of the world. British scholar S.F. Markham writes, “The greatest contribution to civilization in this century may well be air-conditioning—and America leads the way.” Over the years, air-conditioning has been credited with the survival of institutions and industries: the heat-sensitive world of computer networks (Steinmetz, 2010).
Willis Carrier may not have ever imagined the impact that his entrepreneurial and small business spirit and actions would have on the way that we all work and live. Some of us cannot imagine living without air conditioning in our homes, cars, stores we visit and places we work.
Q1. What form of business structure do you believe is best for the entrepreneur Willis Carrier and his company “The Carrier Engineering Company” when Carrier first started? What about today, given Carrier’s growth and size? Explain
Q2. List the key stakeholders in “The Carrier Engineering Company”.
Q3. Develop a SWOT analysis for this business listing their strengths, weaknesses, opportunities and threats (as you would imagine they might be back in 1915).
Q4. If you were to have completed a feasibility analysis for this business, you would have been able to make sure you were on the right track moving forward.
Answer these two questions that are addressed with a feasibility analysis knowing what you know now about the use of air conditioning.
- Is there sufficient demand for this product or service?
- Can the product or service be provided on a profitable basis? Explain your answers.
Q5. With competitive advantages, it is important to lay out what really differentiates your product from your competitors. (Keep in mind that price is not a very good competitive advantage for most entrepreneurs as it does not generate repeat business and most entrepreneurs and small businesses want and need to have repeat business.)
- Describe some ideas for competitive advantages for Willis Carrier and his business. How can he translate these advantages into a strategic plan?
- Recommend two steps he can take to ensure his company’s success in a competitive business market.
Q6. Describe the financial statements that you would recommend Willis Carrier utilize to track the financial health of his firm.
- Are they the same ones he should continue use as his business grows from a small company to a large one? Explain why this may have changed.
Carrier. (2019). About Us [Website] Retrieved from https://www.corporate.carrier.com/our-company/
Popular Mechanics. (2019). A Brief History of Air Conditioning [Website]. Retrieved from http://www.popularmechanics.com/home/improvement/electrical-plumbing/a-brief-history-of-air-conditioning-10720229
Steinmetz, K. (2010, July). Air conditioning. Time. Retrieved from http://content.time.com/time/nation/article/0,8599,2003081,00.html