BB’s business is the development | My Assignment Tutor

Bella Beverages Inc.Bella Beverages Inc.OverviewBella Beverages Inc. (BB) is a Canadian company traded on the TSX Venture Exchange. BB’s business is the development, production, distribution, and sale of non-alcoholic beverages. The company produces high-quality juice beverages and soft drinks, more than half of which are sold in Canada (55%) and the rest in the United States. Most end purchasers of BB products are health-conscious individuals aged 19-30.The company was founded eight years ago by Hani Jafeer and Cindy Snin, former executives in the hospitality industry. Jafeer saw an opportunity to take advantage of the increasing consumer interest in health drinks by designing a company to focus on that niche market. He assumed the role of President and Chief Executive Officer (CEO). Snin joined him as Chief Financial Officer (CFO) and was instrumental in effecting the operational start-up, particularly in hiring the other key executives. Together, the founders worked well as a team.Executive Team and Organizational StructureA summarized organizational chart for the business is provided as Exhibit 1.Hani Jafeer is President and CEO. Before founding BB, he was Vice-President, Marketing of a large hotel chain, having worked his way up from a front-desk role through various positions in sales, restaurant management, and conference coordination. At the time of incorporation, Jafeer was driven by his initial vision to see products developed, marketed, and sold in stores. However, since the achievement of this goal, he has shown less initiative to move forward. Now 54 years old, he seems content with the current business model and does not make decisions in haste. Reporting to him are both an executive and an administrative assistant as well as the CFO, and all of the vice-presidents.Jafeer will be President and CEO until his planned retirement on March 31, 2013. He will continue to be Chairman of the Board thereafter. A new President and CEO will have to be found according to the specifications provided by the board of directors.Cindy Snin has left BB to take an executive position with a hotel chain. Kerry Vance, CMA, was hired as her replacement on January 23, 2011. Reporting to the CFO are the director of Human Resources (HR), the controller, the manager of Management Information Systems (MIS), and the general (non-production) purchasing department.Suzie Carpet is Controller. She has an undergraduate degree in biology and worked in the finance department for a large biotech company prior to coming to BB three years ago. She recently completed the CMA Professional Program. Reporting to her is the production facility’s accountant who is assisted by two analysts.1

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