Essay about Electro Inc

We evaluated our company’s position in the industry, and found ourselves in an excellent starting position to further develop our products and match them to the industry’s needs. Our market share is adequate and we can advance further with our strategy improve and reposition our products in the coming years. We have underutilized capacity, which we intend to improve, while increasing automation to reduce costs. We have plans to improve our promotion to improve product awareness and with the appropriate product lines we will increase price to improve margins and better align our high-end product image. Our current financial position is optimistic, showing our leverage (Assets/Equity) at 2.0, when our goal is to maintain 1.5-2.0 overall. By utilizing the analysis tools we are learning what elements are driving demand, how to effectively tailor our products through R&D, how best to adjust our marketing and pricing, while lowering input costs, in order to improve margins and to ensure our stakeholders are all satisfied.

The earned value analysis has led to see the project will control the actual budget, which is $18,000. The actual cost at the period 4 totaled to be $7,050, and total of earned value at period 4 is $7,750. The estimate at completion for typical is $22,550. These variances show that this project will exceed the original budget of $18,000, so we are still exceeding the project’s original budgets. The SPI is less than a value of 1, which means that the project will also over schedule and activity plans. The requests immediate actions from the third-party company.

Tesla Motors, Inc. was founded In 2003 by Elon Musk, Martin Eberhard, Marc Tarpenning, JB Straubel and Ian Wright. The name Tesla came from the engineer and physicist Nikola Tesla. Tesla designs, develops, manufactures, sells advanced electric vehicles and electric car components In the United States and internationally. It also develops electric components and electrical systems for other automotive companies.Tesla started to get the attention of the world when they produced the first electric sports vehicle, The Roadster, based at a price of $109,000 dollars In 2008. Between the years of 2008 and 2012, Tesla sold 2,250 Roadsters. Tesla has stopped all production on the Roadster since then to focus on advancing the company to more the average consumer. Next, came the Model S, an electric luxury sedan which debuted In the United States In 2012 and Is American made In California. The Model S, base priced at $57,000 dollars, was the first of It’s kind bringing the luxury of a Mercedes-Benz and combining It with a electric battery to give you 208 to 315 battery miles without refueling or charging. The Model S Is the second-best-selling plug-in electric vehicle behind the Nissan Leaf. Tesla decided to go ahead and develop the first electric SUV, called the Model X In 2015. In march of 2016 Tesla revealed It’s next car, called the Model 3. The Model 3 Is only going to cost consumers $35,000 and Is on track to be released In 2018. Only one week after Tesla announced the Model 3,

When considering factors that didn’t go well as far as schedule the project took a steep hit. While the initial item started on time, it ended two days later than was initially planned. This meant that “Set product Specs” was 2 days late starting. With this project each line item has a predecessor. This means that they cannot start until the previous item is finished. With this every portion of the project was late starting and threw the entire project off. With regards to the cost “Need Survey” was over budgeted by $6,400 and “Set product spec” was over budgeted by $11,520.

But as derived from the companies design for the new product, it is expected that the project will be successful and introduced in the time frame pre determined. In looking that there is already a competitive product out to that of the project, the company is expecting that with the new features, and adds on possibilities it will as well bring a positive outcome for the project (PMI, 2004).

Upper management has determined that they want a relational database and the project should be up and running within 6 months. The company has little experience with databases, which is the inherent problem. If a quality product is to be created for their customers, a budget must be set keeping in mind that contractors or database experts may need to be brought in to assist in the creation of the database. The sponsors should be notified as soon as possible after the identifying this so as to explain to them this course of action is necessary if they want a product that works well for their customers, also identifying that a budget increase will be necessary. There are also over one hundred different products that will be added to the database in which individual areas will be responsible to create. The project manager will need to ensure that each area is accomplishing this task. Additionally, the project manager should ascertain from the sponsors what exactly is expected so as to mitigate the possibility of scope creep.

ABC Company, Inc. has been in business for 10 years, employees 50 people, produces one product (widgets), and operates in one location. Over the past 5 years the company’s market share has remained stagnant. The owner of the company does not work in the office much and most communication is conducted over the phone therefore there is not much trust in the management and recently there has been an increase in turnover. There has been greater demand in the widget business so this paper will discuss what ABC Company, Inc. needs to do in order to stay competitive in the market.

Their product expectations are clear, each part of the venture know about their undertakings and are working tenaciously keeping in mind the end goal to meet their objective which is delivery on time. This conveys me to scope creep which is non-existent in this project. All group capacities have a reasonable thought of what they are doing and include clear expectations inside set timeframes. This isn't a given in all venture, and that this task has all these reasonable objectives, is a quality. Their expectations, or launch date, is set to August 2009. Each group in the project has a solid specialized aptitude in their individual areas. This gives the venture the essential useful quality to complete the vital undertakings, albeit a few difficulties have emerged in designing as for fittings of a display it appears like they have the fundamental brainpower to settle

Created an extensive marketing plan to promote the launch of a new product for a gap in the market (A grade result in the project)

Many businesses have to develop and attain new ideas to help increase sales, achieve goals and objectives Sometime the item that they use may be a similar item to what they already have. This paper will discuss some of the areas that may result in a project failure.This paper will define some areas which a business must strive for in order for their product to be successful and this paper will discuss an example of a project fail and the root cause of the failure.

The company Boca Electronics, is a manufacturer of semiconductor components. Founded in 2002 this company mains products of production are microprocessors, lighting-emitting diodes (LEDs), rectifiers, suppressors. The company has been doing relatively well financially for the past 4 years but, has recently started to face some issues due to an economy slowdown and competition from other competitors within the industry. Also, the company has inherited mainframe system from their parent company which has led to a breakdown in communication amongst departments, increased lead times and failure to meet large orders in a short time span (Sanders, p. 87 & 88).

     Headquartered in Euclid, Ohio, a suburb of Cleveland, The Lincoln Electric Company is a world leader in welding and cutting products, as well as a premier manufacturer of electric motors. The company is well known for its dedicated, talented workforce and its superior technology. Lincoln Electric Company gives its customers total solutions along with a commitment to quality. Lincoln Electric Company is also well known for its incentive management system. Many companies strive to duplicate the success that Lincoln has enjoyed over the years.

Now, The company wants to launch this new kind technology into market. However, there are many issues need to be decided, such as:

After analyzing the results from the previous quarter, it was determined that the prices set for each segment were not sufficient. Product sales priority were also not properly adjusted. With the R&D investments, sales priorities needed to be changed for the main focus to become the most profitable market segments. Prices were not competitive which in turned decreased revenue, market share, and profitability. To become more competitive we altered the prices in each market segment. The Workhorse product was the first to change, the price was lowered to $2500 in an attempt to increase sales; at this price Team 4 was still making a profit on this product, as well as making the price much more competitive. The Workhorse sales priority was also lowered to 3rd in Americas and 4th in APAC and EMEA. This product was not selling as well as we had hoped, and was no longer as profitable as it once was which led to this decision. Next, the Innovator product’s price was adjusted; this involved a price increase to $4100. This price was adjusted to include the new

After several new product failures, the company began using customer input to help develop new products. In 1989, the fishing electronics industry is experiencing a downturn, and the company's sales and profits are slipping. The company, which has one product line (depth sounders) and a strong brand (Hummingbird), has conducted substantial market research on three new products. These products are project 901, hummingbird VHF Radio, Locator/ GPS navigator. Of these, project 901 is an extension of the depth sounder product, while the other two would be new product lines for the company. Top management is deciding which one or more of the three new products it should proceed with. In this paper, I will discuss the positive and