business

Management is broken down into four basic functions: Controlling, Leading, Organizing and Planning. Continuing with the scenario from unit 1, as part of management you now need to make a decision about how to manufacture the product; you have 3 possible options:

  

1. Establish manufacturing of all components and final assembly.
2. Establish final assembly only operation with components purchased from local vendors.
3. Outsource the entire manufacturing operation to an offshore company.

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After making your decision, write a 2–3 page APA paper that:

1. Describes the characteristics of the four functions of management.
2. Describes your manufacturing option decision.
3. Explains the pros and cons of that decision and the logic you used in reaching that decision.
4. Discusses the impact that decision might have on the controlling, leading, organizing, and planning functions of management.

Please submit your assignment of 2–3 pages in APA format. 

Submitting your assignment in APA format means, at a minimum, you will need the following:

1. TITLE PAGE. Remember the running head: AND TITLE IN ALL CAPITALS.
2. ABSTRACT. A summary of your paper, not an introduction. Begin writing in third person voice.
3. BODY. The body of your paper begins on the page following the title page and abstract page and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The type face should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics except as required for APA level headings and references. The deliverable length of the body of your paper for this assignment is 2-3 pages. In-body academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
4. REFERENCE PAGE. References that align with your in-body academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hang indention, italics, and upper and lower case usage as appropriate for the type of resource used. Remember, the Reference Page is not a bibliography but a further listing of the abbreviated in-body citations used in the paper. Every referenced item must have a corresponding in-body citation

BUSN105: Scenario

You are an inventor who enjoys working around the home, cleaning, cooking, and doing minor home

repairs and remodeling. You have little financial skills and no management skills. You have a great idea

for a new kind of home appliance that meets everyday consumer needs. Your net worth is not very high

so you have no idea if you’ll be able to “fund” this start-up. You know that currently there are similar

products that meet the consumers’ needs, but those products are inherently dangerous. You know nothing

about manufacturing other than that it costs lots of money to set up a plant. You are convinced that this

new technology idea would be applicable in a wide range of other products.

Your spouse, knowing how much time this venture will take away from family time, has asked you for an

example of what you mean to make sure your idea isn’t some harebrained scheme. You mention the

following as two similar ideas that were developed for one application but proved to have VERY

widespread applications:

a. The “clicker” was initially invented for use with TV’s, but now has widespread applications

for a host of electronic applications, just like your

technology could potentially do.

b. The 3-prong power cord for electrical appliances was invented for higher quality appliances.

Lower quality appliances have a 2-prong cord, which is a safety issue. Better quality power

cords have the 3rd “ground” wire, so now it has widespread application, just like your

technology could potentially do.

Marketplace

The market for your new product (which will use a special technology) is quite saturated with annual

growth of only 2%. It is expected that the new technology in this invention will jumpstart sales growth as

it will make it far easier to handle and use around the house. You fully expect that once this product’s

acceptance is established, the technology can be leveraged into other products and/or markets. While each

of these FUTURE products and/or market opportunities is sure to generate significant sales, there will be

significant new investment required for each opportunity as well as some risk.

Scenario Glossary

Saturated: Every market place has a certain number of potential customers; as more and more product is sold to

those customers, the market reaches a point where the only continued sales might be replacement sales; this would

be considered 100% saturation; on the other hand, for brand new products like a Blackberry, iPhone, etc, the day

these were introduced, the saturation rate was 0%; this concept is especially important for firms introducing products

to a market already having a number of suppliers supplying this product category.

Annual growth: usually used when describing the growth rate of a particular product category; for example, until

this year, the auto industry was growing about 4% per year; the housing industry was growing a little faster. Both of

those industries growth rates have not only slowed, but have also seen a downturn or negative growth