Capstone Course

Table of Contents

Introduction3

Background3

Core Competency……………………………………………………………………………...4

Strategy Diversification4

Mission, Vision and Objectives5

Internal Scan6

Budget Development7

Success Factors7

Forecatsed Success in terms of Profit8

Environmental Scan…………………………………………………...………………………9

Implementation Plan…………………………………………………………………………10

Strategy Implementation..……………………………………………………………………12

Recoomended Strategy…….…………………………………………………………………12

Conclusion…………...…….…………………………………………………………………13

Capstone Course

Introduction of Albany International

Albany International is one of the successful multinational companies with its operations around the globe. The products and brands under the umbrella of Albany International incorporate diverse product lines such as paper machine clothing, industrial doors, microfiber insulation products, filtration technologies, engineered fabrics and composites (Nulty, 1989).

There are several countries in which the operations of Albany are carried out; nonetheless, the most prominent among them are Unites States, United Kingdom, China, France, Germany, Australia, Brazil, Canada, Mexico, South Korea and Sweden. There are six business segments in which the business operations of Albany International can be categorized. Nevertheless, there are two prominent brands (Prima Loft and Pyropel) that come under the brand portfolio of Albany International. The Prima Loft products segment includes sales of insulation for outdoor clothing, gloves, footwear, sleeping bags, and home furnishings. The segment has manufacturing and sales operations in the US, Europe and Asia. In addition, the products that come under the brand “The Pyropel” incorporate optimal performance plastics. The Albany International has global operations, and is an advanced processing Albany International (Albany International Restructures, 2002).

Background of the Albany International

The company Albany Corporation was established in the year 1895 with the mutual understanding of (3) three businessmen in Albany, New York. In the beginning, the Albany International's name was changed into Albany International Corporation when the Albany International merged with Appleton Wire Works, a U.S. Albany International, and Nordiska Maskinfilt, a Scandinavian Albany International (Albany International, 2000).

The Albany International recorded revenues of $914.4 million in the fiscal year ended December 2010, an increase of 5% over 2009. The Albany International's operating profit was $81.2 million in fiscal 2010, as compared to an operating loss of $38.2 million in 2009. Its net profit was $37.6 million in fiscal 2010, as compared to the net loss of $33.5 million in 2009. The Albany International is listed in the New York Stock Exchange with the ticker AIN. The Albany International employs over 5,000 as of yearend 2011. The Albany International made turnover of US$ 914.4 million in the same year.

Core Competency

 Albany International Corporation's core business is that they are the world's principal fabricator of engineered and custom designed fabrics, along with process belts, which are called PMC (paper machine clothing). All such consumable materials are mainly used to produce all paper grades. The quality ranges from lightweight paper till the heavyweight container board. Paper machine clothing materials are crucial for the process of papermaking and are produced with the help of mono-filaments, multi-filaments, as well as synthetic fiber constituents (Albany International, 1999).

Strategic Diversification

In the Albany International's family of increase in the businesses, the corporation Albany applies their core competences in ingredients technology towards the expansion of exclusive materials, as well as structures for a number of other businesses. The materials include compound assemblies for industries such as the aero-space; they provide belting, tannery submissions, specialty materials for ...