Week 2 Assignment - Decisions for Quarter One and Quarterly Business ReviewPart I: Decisions for Quarter One. Prior to working on your Decisions for Quarter One, review the following through the Growi

"Growing Your Business" - A Management Simulation

Activity Logs SWOT and STRATEGY General Report

Strengths

1. Hig h manufacturing capacity. HISCO has invested in its manufacturing capacity to the point it can

manufacture more readers that it can sell. 2. Excellent business environment. HISCO is operating in a

business environment where there are opportunities and the completion to spur growth. 3. High-

quality products. HISCO’ s engineering capacity has enabled the company to manufacture readers of

high quality in this initial phase of the product lifecycle.

Weaknesses

1. Excessive manufacturing capacity. HISCO is facing challenges sustaining its high manufacturing

capacity under the current limited market penetration. 2. Limited fiscal resources for investment.

HISCO recorded losses of $130,000 and used up all its cash reserves or cash-at-hand while to

sustain its manufacturing capacity. 3. Limited marketing skills. HISCO has a good quality product but

companies such as Matex outperform in marketing their products in the market.

Opportunities

1. Partners hips with hospitals. HISCO has an opportunity to partner with key hospitals to help improve

its feedbac k loop. 2. High potential in the market. Hospitals are looking towards having nurses and

physicians spend more time on patient care activities. HISCO has an opportunity to improve its sales

by improving the quality of care.

Threats

1. Aggress ive competitors. HICO is faci ng aggressive competition from Redex and Matex for the

hospital market. 2. Similar products in the market. The aggressive competition has enabled HISCO’s

competitors to offer similar products to HISCO’ s readers. 3. Limited credit line. HISCO has exhausted

its credit line and this threatens its ability to invest towards offering high-quality products at attractive

prices.

 Quarterly Dashboard

STRA TEGY

HISCO seeks to be the leading provider of high-quality readers to hospitals at af fordable prices. To realize this goal, the company needs to develop strategic objectives. The day-to-day operations of HISCO will be aligned with

these objectives for the company to realize a sustainable competitive advantage. Redex and Matex are of fering similar products to HISCO and this creates a need for value creation through differentiation. HISCO’s performance

in the market is highly influenced by engineering quality , quality of labor, prices, and marketing and advertising practices. HISCO needs to make quality parts of its organizational culture. Other than implementing a quality

management system (QMS) only , HISCO will ensure its entire team is on the same page on what it means by high-quality readers. Employees will be part of the development process and will be under a feedback loop that is

connected to production (Bakotic & Rogošic, 2017). As the number of providers increases in the market, HISCO needs to sustain and improve its focus on quality . According to (Chen, Liang, & Yao, 2017), there is a correlation

between quality and profit. High-quality products that meet customers’ needs have the potential to of fer higher profits as compared to low-quality products. HISCO needs to improve its return on investment at any given market

share. HISCO will work towards fewer defects in the manufacturing process and on the final products. When HISCO’ s readers fail in hospitals, there is a risk of high maintenance costs and a loss of market share. HISCO will

work on improving its reader’s performance, features, and aesthetics as the product’ s lifecycle continue to advance. These gradual improvements are expected to result in a larger market share through improved sales. HISCO

needs to minimize manufacturing costs as it works on balancing its manufacturing capacity and market outreach. The reduction of operation or production costs will be supported by improvements in sales and marketing ef forts.

HISCO will break down its value chain for easier cost evaluation. High priority will be placed on customers because they are the main sources of income. HISCO will work on sustaining efforts geared towards maintaining high

customer satisfaction. Aggressive customer service and reduced operation or production costs will enable HISCO to create value and gain a competitive advantage in the market.

SWOT

Pdf Report: Strategy And SWOT Analysis (/Simulation/Download?reportType=Strategy%20And%20SWOT%20Analysis)

 Reginald Whimbush

Hisco    QTRLY DASHBOARD  R &D  ROLE-PLA Y  QTRLY DECISIONS  F in ancia l S ta te m ents  S upply C hain M gt