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Essay, 3 pages (750 words)

Technology

Will Goldenness evaluation of Biotechnologist put them at risk of a poor reputation and as a result position them lower in the renewable energy market? Objectives: Stay as an industry leader in the renewable energy industry Keep true to company vision/mission statement Profitability Focus on building continuous and long-term personal relationships Alternatives: Four alternative courses of action- 1 . Propose a warranty extension. 2.

Increase the uptime that’s guaranteed. 3. Incorporate a developing product with a larger capacity and efficiency. 4. Contact Goldenness chief electrical engineer to confirm the evaluation. Consequences of Alternatives: (See Appendix for Consequence Table. ) In framing this analysis, you need to compare the merits of the competing alternatives by evaluating how well they correspond to the objectives. In this case, the alternatives the PET has in mind correlate to better odds potentially, in terms of challenging Slovenlier evaluation results.

Alternative 1 would not only make sure that Soldierly was given a quality product, but a product that was backed by an industry leading warranty extension. By including this extension, it not only shows that Pet stands with their product standards but it also shows dependability in terms of exceeding their customers needs; long after a transaction is made. Alternative 2 similarly takes care of the customers in terms of promoting quality personal relations.

By Including a 99% uptime guarantee for every inverter’s Len- service life at no cost, It not only exceeds the Industry standards but it also shows that It could also reinforce the quality, durability, and reliability aspects of PET products. Alternative 3 seems like a very effective way In potentially challenging Soldiery’s evaluation results. By incorporating a new product into the market, one that is leading edge and cost saving, it shows not only Soldierly but the entire market that UP is still the market leader in the renewable energy industry.

Alternative 4 conclusively suggests that before any changes were implemented in their product and market strategies, they contact Morgan; the chief electrical engineer at Soldierly. By being able to potentially confirm Mooring’s evaluation, it would then allow UP to decide on how they go about challenging Soldierly. Tradeoffs/ Analysis of Alternatives: Alternative 1- By presenting a warranty extension from 10 to 20 years Soldierly would potentially prepay the warranty premium based off the purchase price of each Inverter. In turn, PET would perform the warranty services throughout the years.

Though this would off-set costs in some aspects, a tradeoff is that the economic value long term of the company, could impact the profitability aspect when negotiating with other firms in the future. Alternative 2- With TIT increasing their uptime guarantee to 99% and exceeding that of the intention, it shows that they are confident in the quality of their products. Though this would be good for Soldierly, a tradeoff is that they would lose a percentage of their profit in the lost cost of warranty revenue; which would have potential to increase costs if product failure was high, or if repairs were frequent.

Resulting in a potentially negative effect when perusing future contracts with Soldierly or other firms. Alternative 3- By introducing a new product into the market that is less expensive and more efficient, it creates a greater value for Soldierly and other firms in general. A tradeoff though is that introducing a product that hasn’t been tested properly could in fact lead to product malfunctions due to a lack time.

With this, it could lead to negative consequences when negotiating with Soldierly and other firms in the future resulting in them losing market share and power. Alternative 4- Though initiating contact with Morgan could result in a re-evaluation, it could also turn out to be pointless. With Mooring’s evaluations mainly dealing with overall costs of the inverters, in which TIT charges a market high, it may be hard to persuade him hen the lowest overall price is the most important criteria in the decision making process.

Though TIT has a good relationship with Soldierly, it may be hard to motivate Morgan to make this investment. Appendix Fig. 1) Consequences Table Warranty Extension Increase Uptime Introduce a New Product Contact Morgan Industry Leader Shows that TIT produces the best inverters by increasing warranty. Shows the TIT produces effective inverters. Shows TIT is innovative Contracting with Soldierly may show superiority Follow Omissions Statement Confidence in producing quality inverters. Shows company drive to be the best.

Implies that the company is motivated my innovation Supports their vision of producing quality inverters Increase in Warranty Premium Increase Uptime = Profit Increase Larger Product Line = More Possible Profit Contracting with Soldierly = More Profit Proactive CRM Longer warranty shows dedication to customer needs. Gives customers the best quality inverters. Gives customers more effective/innovative choices Continues CRM with familiar company.

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