In July 2018, the owner and president of Yates Control Systems was contemplating her company’s future. The company was an engineering firm located in Hamilton, Ontario and catering to the region of Southwestern Ontario. The company’s net income had declined over the past year and the owner was considering several strategic options: maintaining company operations (status quo), hiring a second salesperson, expanding into parking system controls, purchasing an existing company that specialized in parking system controls, or selling her company. The owner had to evaluate which option would be the best path forward for her and for her business.
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