Williams Machine Tool Company, An Example Of The Business

Williams Machine Tool Company is an example of the business that had gained lots of profits and low employee turnover rate in the past time. The company was the third major US machine tool company in 1990. The company had had only one production line for producing their product. In that time, they didn’t want to develop a new product. They believed that the business could be successful based on one production line. However, they had faced the recession in 1995. Revenue was down because they didn’t have new product to present to the customers. Lastly, the company was sold to Crock Engineering. Several issues made the company to change in terms of a strategic planning, a corporate culture, and an organizational structure. Firstly, the strategic planning is a process of setting the plan and direction of the company that will become to be successful in the future. It can help the company for an assessment of current company situations, the forecasted future opportunities, a nd the guideline of employees and managers to meet company vision. According to William Machine Tool Company, the company had been found in the past 85 years ago. The company didn’t set any plans for facing with the new situation in the future. They had used the same strategy since the company was found. For example, the company had produced only the standard machine tools. They didn’t develop the new product to the customers that were asking for the new product design. 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