James Farris Case Study #1 2/28/13 Mystic Monk Case 1. Father Daniel Mary is a man that is very dedicated to his church and seems to have a distinct passion for expanding the Carmelite Monks.
Father Mary seeks expansion by the purchasing of the 8. 9 million dollar Irma Lake ranch out in the mountains of Wyoming, and by doing this, he hopes to create a place of pure worship, peace, and adoration. After the purchase of this ranch he hopes to expand the current number of monks of 13, to 30. The increase in space will allow more room for interaction and collaboration among the monks.
Father Mary see’s the acquisition of the ranch as the future of the monastery and the Carmelite Monks of Wyoming. He knows that his vision of purchasing the ranch would require careful planning and execution.
A way he seeks in raising money for this vast purchase is an increase in the revenues from Mystic Monk Coffee. 2. Father Mary assumed that the secluded monastic environment offered unique challenges to functioning a business enterprise, but it also provided chances that were not obtainable to secular businesses.
He committed to develop an execution strategy that would allow Mystic Monk Coffee to minimize the outcome of its cloistered monastic constraints, maximize the potential of monastic opportunities, and understand his vision of buying the Irma Lake Ranch. It seems Father Mary has a definite set of objectives and performance targets to achieve his goal. 3.
Mystic Monk Coffee is going to have to make some financial changes if they are wanting to achieve their goal.
This can come anyway from making spending cuts, to changing slogans and the way they market their product. An appeal to Catholics to, ‘ use their Catholic coffee dollar for Christ and his Catholic church”, was published on the Mystic Monk Coffee website. This is a definite marketing ploy to try and increase sales. Mystic Monk has an advantage over other coffee brands because many customers see their purchase as helping the people of god, whether this is morally right or wrong, it is a clear advantage for Mystic Monk Coffee.
. Mystic Monk Coffee makes most of its sales online, with a seldom few being over the phone. A 12-ounce bag on their website runs $9. 95, with purchasing of three or more bags qualifying for free shipping. They also give you the option of joining a “ coffee club”, which offers monthly delivery of one to six bags of preselected coffee.
The website also offers T-shirts, gift cards and CD’s. It is good the majority of their business is done over the internet seeing how our world is becoming almost completely internet based.
At the end of MMC’s first year in operation, its sales of coffee and accessories averaged about $56, 500 per month, but their total net profit of this was only 11%, bringing their total net profits to $6, 215 per month, or $74, 580 per year. This number would have to increase if they are wishing to a acquire the $8. 9 million dollar Irma Lake Ranch.
5. Yes, it qualifies as a winning strategy. Just as long as Father Mary stays dedicated with his vision and makes the proper financial decisions. The acquisition of the ranch isn’t in any way unreasonable. 6.
To make this dream become a reality Father Mary is just going to have to do a great job of communicating his project to others, and make sure his fellow Monks are on the same page with him as to what needs to be accomplished.
Mystic Monk Coffee will also have to see a significant increase in donations if they are going to make their vision a reality. They need to make Catholic’s within the faith from our the world aware of what they are trying to accomplish. I believe if Father Mary sticks to his vision, they will be able to purchase the Irma Lake Ranch.