Summative Assignment 1 Steinway and Sons It is rumoured Steinway and Sons is up for sale again. The world’s most iconic piano brand was founded 1853 in Manhattan, New York by German immigrant Henry Steinway. The firm grew to become the benchmark acoustic piano producer, serving professional musicians and orchestras in particular. Over its life Steinway has been owned by several different enterprises, including the USA music giant CBS. All of its owners have contributed in some way to the development of the Steinway business. Steinway was purchased by USA hedge fund financier John Paulson for $512 million in 2013. It was always suspected that Steinway was a tangential business interest for John Paulson and now the rumours are starting to suggest that Steinway will be offered for sale once more. You are to prepare a paper which presents an objective overview of Steinway for potential purchasers and interested parties. The paper has two parts to it.

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Part 1 An analysis and summary of Steinway’s market position, its capabilities and its current strategy.

Part 2 A forecast of how Steinway’s market might change over the next five years and the main strategic options of Steinway. Conclude with a comment on the appropriateness of Steinway’s current strategy and your recommended direction for Steinway and Sons. Your paper will be used by potential investors/interested parties (for example, the business media) as a foundation for their own decision-making. You are not required to make a recommendation about the buy/not buy decision (Paulson is yet to indicate how much he wishes to sell the business for). You will provide an objective opinion about whether Steinway and Sons is in a strong position strategically or not.

Formatting of the paper is as below;

Your assignment MUST be word-processed as an A4-size document, i.e. width 21cm (8.3 inches) x height 29.7cm (11.7 inches).

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