Here is the synopsis of our sample research paper on Financial Analysis of Steinway. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 12 page paper examines the financial performance of Steinway and compares it to Yamaha and industry averages. The paper examines profitability, liquidity, asset use and the stock performance between the year 2004 and 2006. The bibliography cites 5 sources.
Page Count:
12 pages (~225 words per page)
File: TS14_TEsteinway06.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
due to its specialist nature, however, it is a strong company worthy of financial examination in order to understand its position. In this paper all figures apart from the figures
per share at in the million and the data comes from the relevant annual accounts. The current assessment is a sell, however the price is also quiet low so we
may argue that the real position should be a hold. 2. Company History Steinway started in the nineteenth century by developing a new way of making pianos that met the
needs of the environment; the needs of the new romantic composers who were demanding more variety of tone and volume from the instruments(Steinway, 2007). This was developed with an
initial investment in research and development which gained a first mover advantage and was then protected with a series of patents. However just the development alone was not sufficient to
earn the reputation the company gained. This was gained with the attendance at competition and then careful management of the image with PR and marketing. The announcement at the 1873
Vienna competition that Steinway would not be competing placed them above the competition, entrenching the differentiation, acting as a marketing device in itself, likewise when at 1893 Worlds Fair when
Steinway did not compete and Ignace Jan Paderewski and Polish virtuoso refused to play any piano but a Steinway (Steinway, 2007). Initially the organisers said only a piano that was
competing could be played, but the refusal of Paderewski to play anything else resulted in the organisers backing down, and Steinway gained more exposure (Rooney, 2007).
Historically there have been a number of development where the company has succeeded and then the success has declined. When CBS took over, with little
...