Fastener for Retail Essay

673 Words3 Pages
Fastener for Retail is a company founded by the entrepreneur Gerry Conway. Fastener for Retail business idea is to sell tags, sign holders, merchandising systems, literature holders, shelf-edge labeling systems, etc. FFR has shown exponential growth each year of 19% approximately. I believe that such huge growth within such a competitive market, where market share is so segmented where FFR is the market leader holding only 7% of the market can only be achieved by being an innovator. Gerry Conway brought FFR to what it is due to his abilities to network, his charisma, his innovative personality, and very importantly a clear and consistent relationship between his family, and business. Gerry Conway made this his priority, and in the end made a good practice for the business because family was able to improve the company’s image and was able to improve due to the family working together towards the common goal of expanding FFR. Gerry Conway has been moving Fastener for Retail towards the right direction by differentiating his company from other, and be adding more costumer value which in the end made the company have such a good brand image. Another good practice that Gerry had was transparency with his suppliers. This practice enabled FFR to strike long term deals with his suppliers, which also boosted greatly their brand image by being reliable with orders. Gerry Conway’s family was very much involved in the family business. His sons work in many positions within the company as managers and warehousing. Conway always believed that his sons would succeed him. Gerry admitted that he was more of a salesperson, and that management wasn’t his forte. He then appointed Don Kimmel as a non-family member CEO of Fastener for Retail due to the fact that none of the other family members had managerial skills that coped with the position. Choosing Don Kimmel as CEO of FFR was a

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