Case Study: Stingray Corporation

BSBFIN501 & BSBOPS501 Stingray Case Study

Assessment Tasks 1 -3

20 May 2024

Overview

Stingray Corporation is an Australian-based technology company that manufactures and sells a range of consumer electronics including mobile phones, laptops, tablets, headphones, earphones, and smartwatches. With its headquarters in Melbourne, VIC, the company has established a reputation for innovation and quality in the Tech Industry. The following case study provides detailed insights into  Stingray Corporation's strategic planning, financials, employment data, and internal policies aligned with Australian business regulations and standards.

Company Profile

Stingray Corporation is a Melbourne based technology organisation that employs over 1,200 people globally.  Established in 2001, Stingray commenced operations as a mobile phone manufacturer and quickly became recognised as an innovative and disruptive force within the communications industry.

Their small, easy to use phones are designed and priced to appeal to the pre-teen market. In 2005, Stingray expanded its product line to include tablets and laptops with designs aimed at the teen and young adult markets.

Manufacturing takes place in Geelong with materials sourced globally to ensure the highest quality at the lowest prices, using state-of-the-art process plant with modern equipment. Stingray uses various services  from  several  contractors  in  the  areas  of  transport,   maintenance,  storage,  wholesale distribution, advertising, accounting, and auditing.

Key departments at Stingray include human resources (HR), research and development (R&D), operations, production, sales and marketing, finance and supporting departments.

Stingray sells their products direct to market through several self-branded stores in major cities around the world as well as through their online stores. Their products are also sold through retail and electronic outlets with distribution centres set up in major cities and rural areas.

With more than 1 billion smartphone users worldwide, it is vital for Stingray to stay competitive and design more tech innovations for the mobile phone market.

Five-Year Strategy and Growth Plan

Vision

To become the leading Tech device manufacturer in the Asia-Pacific region by enhancing  product innovation and customer satisfaction.

Mission Statement

Stingray’s mission is to enhance user experience through innovative technology, designing experiences to meet the needs of its customers everywhere. We will devote our resources and technology to create superior products and services, to advance the way the world connects.

Current Financials and Employment Data

As of the last financial year, the Stingray Corporation budget reported:

Revenue: $450 million

Total Employees: 1,200

Operational Facilities: Headquarters in Melbourne, manufacturing in Geelong, R&D in Melbourne

Performance included the following results:

•    Cost of Goods Sold was 55% of the annual revenue

Operational Costs included:

•    Marketing at 10% of the annual revenue

•    Research & Development at 18% of the annual revenue

•    All  other selling and general administration costs including indirect labour was  10% of the annual revenue.

Employment Numbers and Statistics