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Convene Getting Ready For Growth Case Solution

Solution Id Length Case Author Case Publisher
1733 407 Words (2 Pages) Susan Fleming, Matthew Legge Ivey Publishing : W16033
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Convene operates in a capital-intensive industry with the strategically distinguished proposition of providing highest quality, standards and services to local meetings market by capitalizing the opportunity of collaboration between underutilized assets and the hospitality industry. The company aspires to grow the brand nationally and become the market leader in providing top class meeting technology-enables meeting facilities with luxury and convenience.

Case Analysis for Convene Getting Ready For Growth

However, the process of expansion can be weakened by the changing economic landscape of the region coupled with hiking real estate prices. Amidst these circumstances, the company must adopt a number of measures to effectively manage the expensive expansion standards.

The company must undertake profit pool mapping to gauge which segment of the current business is the most profit making. This involves evaluating the volume of meetings held and the costs associated with it to analyze which premium services can be re-engineered at lower costs to provide the same level of excellence. Improving the cost base is essential for Convene as the low-returns in capital-intensive industries tend to become endemic. In addition to this, cost allocation is critical which companies of this size and nature often ignore. The company must also not lose sight of Capex as it is heavily dependent upon financing needs which must be serviced promptly. 

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