STRATEGIC FINANCIAL MANAGEMENTHere are the guidelines that needs to be answered:>Identify the firm's mission, objectives and strategies (status quo/current) >Develop/revise (as you see fit) the vision-mission statements of the organization >Emphasize the firm's competitive advantage >Conduct a SWOT analysis >Recommend specific strategies and long-term objectives; show how much the recommendation will cost; itemize these costs for each projected year >COMPARE YOUR RECOMMENDATION TO ACTUAL STRATEGIES PLANNED/IMPLEMENTED BY THE COMPANY >Specify how the recommendation can be implemented and what results can be expected >Prepare forecasted ratios/financial statements >Provide a timetableor agenda for action >Recommend specific annual objectives and policies >Recommend procedures for strategy review and evaluationHarley-Davidson, Inc. — 2009
Carol Pope and Joanne Mack
In the first half of 2010, Harley-Davidson opened its first five dealerships in India. High
import tariffs of 90 percent on motorcycles historically kept Harley out, but the growing
upper class in India now warrants Harley opening dealerships there.
Harley-Davidson announced in April 2009 that it will shed an additional 300 to 400
hourly jobs in the 2009–2010 timeframe, on top of the 1,100 jobs it previously planned to
eliminate during that period. Its stock declined from 48.05 per share to 9.78 per share in
the time period March 8, 2008 to March 7, 2009, although a recent surge put the stock
price at 19.45 as of April 27, 2009. Harley is closing several facilities and has indicated its
motorcycle sales decreased 13 percent during the first two months of 2009. However,
Harley has continued to remain profitable throughout the economic crisis, although its
second quarter 2009 profits declined 91 percent. For that quarter, Harley’s U.S. sales fell
35 percent while non-U.S. sales dropped 18 percent.
Any serious discussion about Harley-Davidson includes the power of its brand.
Mention of Harley creates a vision of rugged individualism, American iron, and passion.
The passion runs so deep that many customers and admirers sport a Harley tattoo to express
that passion. There aren’t too many corporations that inspire that kind of following. How
many Honda or Kawasaki tattoos have you seen on riders’ arms? What is it about Harley
that sets it apart from its competitors, and even from mega-successful companies that aren’t
its competitors? The mystique is magical.
Harley’s heritage is symbolic of the American dream. Harley’s workers and customers
relate to and find motivation in this American dream that became a reality. An extension of
this concept of “family” is also a key to Harley’s success. The HOG (Harley Owner’s Group)
is a worldwide family of Harley owners that is a million strong. When one purchases a Harley,
one becomes part of a family of owners that rides together and parties together, in locations on
nearly every continent. Indeed, the Harley Web site beckons riders to “share the adventure.”
Aside from the shared experience, many Harley riders treasure taking in the back roads and
the beauty of scenery unique to each locale. This is especially true in Harley’s hometown of
Milwaukee, where riders wait impatiently for the snow to melt so that they can experience the
year’s solo inaugural ride. Nostalgia is also badge of Harley’s success. Its unique “potato-
potato-potato” sound created by its famous V-twin engine is still heard in the rumblings of its
motorcycles on the road today, and its legendary styling, overseen by “Willie G” Davidson,
himself an icon, has created continuity over the decades. For these reasons and more, Harley
remains an American icon more than 100 years after its formation.
Harley’s History: The Building of a Legend
Harley’s Web site announces to online visitors that this is “Where Dreams Come True” and
beckons readers to “Join the Family You’ve Always Wanted.” The mystique of Harley
begins with two families, the Harleys and the Davidsons, who had big dreams back at the
turn of the twentieth century in Milwaukee, Wisconsin.
In 1903, what was to become a legendary motorcycle company was formed in the
Davidson family’s backyard. The “factory” in which they worked was a 10- by 15-foot
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