Anderson Corporation Case

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The Anderson Corporation was started in 1962 as a small consumer products company. During the first twenty years the company's R&D staff developed a series of new products that proved to be very popular in the marketplace. Things went so well that the company had to add a second production shift just to keep up with the demand. During this time period the firm expanded its plat of three separate occasions. During an interview with with a national magazine, the firm's founder, Paul Aderson, said, "We don't sell our products. We allocate them" This comment was in reference to the act that the firm had only twenty-four sales people and was able to garner annual revenues in excess of $62 million.

Three years ago Anderson suffered its first financial setback. The company had a net operating loss of $1.2 million. Tow year ago the loss was $2.8 million, and last year it was $4.7 million. The account estimates that this year the firm will lose approximately & 10 million.

Alarmed by this information Citizen's Bank, the company's largest creditor, insisted that the firm make some changes and start turning things around. In response to this request, Paul Anderson agreed to step aside. The board of directors replaced him with Mary Hartmann, head of the marketing division of one of the country's largest, consumer products firms.