Vision and mission of Smith & Wesson is to become the leading firearms manufacturer and to allow the employees to design and produce innovative firearms (Smith & Wesson Investor Presentation, 2016). Since they acquired Thompson Center Holding Corporation, this has helped expand their footprint. The TCH company had the market for long guns and now these benefits are part of the Smith & Wesson umbrella. With the additional growth in patents and absorbing some of the competition, this will move the company towards their goal.
Smith & Wesson is a manufacturer of many types for firearms and accessories. They have several operating locations. The main headquarters is in Springfield, MA (Smith-Wesson.com, n.d.). The original two founders were Horace Smith and Daniel B. Wesson created Smith & Wesson Corporation back in 1852 in Norwich, Connecticut (Economics Business and Labor, 2006). Then in 1873 Wesson purchased Smith’s part of the company. In 1965 the Wesson’s sold the business to the Bangor Punta Corporation (2015 Annual Report: Smith & Wesson Holding Corporation, 2015). The Bangor Punta Corporation was sold and purchased by Lear Sigler who sold Smith & Wesson Corporation to Tomkins PLC. IN 2001 Tomkins sold the company to Saf-T Hammer Corporation and they changed the name to Smith & Wesson Holding Corporation.
Current Goods and Services
Over the 165 years of business there has been an array of firearms manufactured from a pistol with a rapid-fire sequence to the more recent pistols that are concealable and lightweight, to the magnum revolvers, the most famous being the gun in the movie Dirty Harry (Company History, n.d.). Handguns with revolvers are either single or double action. The pistol guns have ammunition in the magazine grips that will be loaded into the chambers. These guns have a wide range from conceal carry to large range for hunting. The long guns are rifles that can be used for hunting or if you are law enforcement.
In addition to guns, Smith & Wesson manufacture parts for the guns such as grips and barrels. They also manufacture handcuffs out of stainless steel. They had a patent on the Lever Lock cuffs (2015 Annual Report: Smith & Wesson Holding Corporation, 2015). This is a double locking system. The Smith & Wesson Academy was created to help law enforcement train. They train not only in the United States but in 50 additional countries (2015 Annual Report: Smith & Wesson Holding Corporation, 2015).