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This is troubling, because the current lines of products that are being offered, means that they are losing ground to alternative ones that are being produced. As a result, Husky needs to focus on developing products that are: competitively priced and have better quality. This will allow the company to adapt to changes that are taking place in the markets. ("Husky Injection Molding Systems," n.d.)
Cost cutting is when the company needs to focus on reducing, the overall expenses that it is paying to manufacture different products. Given the fact that the company is currently doing business in Japan and Korea, means that they could build a plant in the region that will produce the new alternative products. As managers could select locations that have: lower labor costs and are in close proximity to key markets (such as India or China). This would allow Husky, to create alternative products that will be competitively priced. Once this takes place,...
At which point, the company can redefine the business model and how it is adapting to the challenges that it is facing. ("Husky Injection Molding Systems," n.d.)
However, in order for this strategy to be effective, it is important to remember that managers must be: watchful of changes that are taking place and are ready to quickly adapt to them. This is because globalization has been having an impact upon what products are: available and the underlying costs. As a result, sudden changes could occur from volatility in the costs of: manufacturing and new products that are being introduced. Therefore, the company needs to be able to adapt to these changes quickly, in order to maintain their lead in key market segments. ("Husky Injection Molding Systems," n.d.)
Bibliography
Husky Injection Molding Systems. (n.d.).
Bibliography
Husky Injection Molding Systems. (n.d.).
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