Hi, need to submit a 500 words essay on the topic Hot Potatos.
The chief analyst raised three main issues in the companys management. A brief summary is given below:
He said that the company is facing a tough competition and the main issue is that the competitors are using advanced technology now available in the market. This advanced technology enables the other companies to increase their sales through immediate advertisements and through the technology and receiving instant feedback enabling them to take prompt measures to enhance product quality and policy making of their companies.
This advanced technology also ensures production at a comparatively low cost which results in their ability to introduce their products at fairly low prices in the market. This comparatively reduces the sales of the company as customers are always attracted towards low prices for same products in the market.
Secondly, the competitors have employed some extra labor skilled in proper use of the companys software and websites. These are IT experts properly trained in making quick decisions to meet demand in software changes and also quick production of its products. The company needs to ensure that the company makes sufficient advancements in its software in order to cope with the demands requirements of the customers. It is always very important for a company to meet the orders placed by customers in time as it is quite obvious that sales orders if maintained poorly and not responded to properly will make the company lose existing customers looking as well as new customers attracted by the quality of our products (Anthony Tarantino, 2006, p. 248).
After the chief analysts report, the CEO decided to take some measures to overcome the problems that may be faced by the company in the future. He assigned the CFO of the company to determine the total costs of introducing new technology to the production sector of the company as well as the costs to hire skilled labor in order to operate that machinery. The decision to
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