Bingham Hill: Who Moved My Cheese – Essay Example
BINGHAM HILL CASE STUDY How does a highly successful small company like Bingham Hill Fail? Despite the successful beginning, Bingham Hill Cheese Company encountered serious business breakdown after six years of its opening. The major problem with the company was its inability to meet the rising production cost. A small company like Bingham Hill can fail due to numerous issues associated with market and organizational management. As it happened to Bingham, if a company expands its market beyond the managerial limit and capital strength, presumably it confronts with financial burden. As the demand increases a company is supposed to update its technology/methodology for production and supply. If a company is not willing to relocate its production unit according to the changing business environment, it would fail to sustain in market. Obviously, the absence of strong managerial strategy was one of the causes of the failure of the firm.
2. Why was Bingham so successful?
The product stood first in the US market because of its superior quality and popularity. Notably, learning good lessons from past experience gave enough strength to company at the initial stage. Moreover, high demand for product in the market contributed to its success especially among national security cheese makers, top restaurants and chefs. Also the good business with famous retailers like Trader Joe helped the firm very much. Awards and medals for its products gave popularity to the company across the US market.
3. What could have been done to save Bingham Hill?
Bingham Hill could have sought some other alternative products to sustain in the market. In addition, they could have implemented modern technology to enhance the production according to the demand. It might have also helped them to reduce the production cost to a great extent. They could have sought foreign markets to run the business in order to avoid the problems of domestic market.