2. Mission Statement
To provide our customers with sensor solutions and
products that exceed their expectations for price,
reliability, performance and size.
3. How did we make decisions?
No one person made all the decision. Team members worked together.
If a team member introduced a decision that person was responsible
for explaining that decision to the members so that each member
understood why this decision needed to be made.
Respected the decisions of teammates; listened and provided feedback
or confirmation.
If a single decision couldn’t be made, the members compromised
4. Research and Development
Building our product to ideal specifications; stayed close to “ideal
expectations”
Exceed expectations
Round 8 didn’t exceed expectations because there weren’t any benefits to
go beyond because there wasn’t a next year.
5. Marketing
Compared product potential and actual then made an informed decision on market
share.
Observed our competitors price
From round to round the team always followed segment rules to drop price by $0.50
If pricing was of low expectation, remained at max price but when segment price ranges
fell at $0.50 per year we adjusted the price accordingly – dropped the price to increase
customer appeal but refrained from dropping too low to avoid reducing profits
Invested heavily in promo and sales budget to achieve maximum customer awareness
and customer accessibility taking in consideration exceeding maximum contribution will
cause diminishing returns
6. Production
When forecasting it was always important to take in account the inventory
on hand to avoid over producing
Automation for low end we step for 10 because we didn’t plan to change the
performance and size but for other segments gradually increased
automation which allowed us to make changes to performance and size so
product could move accordingly along the Perceptual Map
7. Finance
Team borrowed long term debt rather than issue common stock because common stock
had higher cost and affected stock price
30 days accounts payable because the team wanted to pay our vendors quickly however,
we had a 45 day accounts receivable policy which meant our team had to wait a few more
days to collect outstanding funds – goal was to pay our debt immediately but give
customers longer time to repay their debt
Capital that was gained in earlier rounds was used to invent new products and penetrate
existing segments
Capital that amassed in the later rounds (6-8) gave the team financial flexibility to pay
dividends, pay debt and retire stocks
8. Human Resource
Invested the max contribution in both recruiting and training hours
TQM
Initially the team decided against investing in Benchmarking because
our administration cost was already low; $2.57M
In the following round, we recognized that investing in
Benchmarking would provide in the current round and remaining
rounds
9. Strategy
In the beginning the focus was on two segments and understanding how
promo and sales budgets effect customers
The strategy changed in round 3 to dominate all segments
Focused on increasing revenue and profits
Capitalize on large market share
10. Weaknesses
Very conservative and caution which suppressed market share
potential
Round 7, Low End segment received very low customer expectations
because we were delayed with making changes to performance and
size
Failed to buy necessary capacity to support the production and sales
therefore stocked out several times