Attempt all the problems.
problem1) ‘Target Pricing’ tend to enhance competitiveness in long term. Describe the concept.
problem2) What are the competitive strategies determining the strategic positioning of the firm? Describe
problem3) What is meant by ‘Life Cycle Costing’? Why it is significant for planning of a new product being developed?
problem4) Describe the following contemporary management techniques:
(ii) Total quality management
(iii) Continuous improvement (Kaizen)
The company is engaged in the manufacture of tubes and bulbs. The manufacturing process has to pass through three intermediate processes before the product reaches the packing section. The processes are carried out with the help of specialized machines. There are differences in the per hour capacity of each process. For instance, the coil based process can cut the filament yarn to the required size build positive and negative electric points at the rate of 250 units per hour. Though, the final assembly points can operate at the rate of only 200 units per hour.
For the past sometime, the demand for tubes and bulbs has begun to dwindle due to surging competition. The CEO of the company realizes that it has now become essential to enhance the efficiency of various process so as to overcome the competitive pressures. Consequently, he is thinking of importing a fully automated and balanced plant from Japan. Comment on his views.