For years the manufacturing industry in the United States has been pressured by overseas organizations. At the company I work for, Hudson Precision Products Company (HPPC), we have withstood these pressures as much as possible. But in the next 20 years, HPPC will need to undergo some serious changes in order to survive. As an increasing number of domestic companies take their business overseas, it threatens the viability of HPPC 's business. With lower costs of production and a greater access to new technology, foreign manufacturers seem to have the upper hand.
Currently, HPPC does not create their own products; they only make parts for other companies ' products. The way for HPPC to combat these pressures is to introduce a product development …show more content…
The group must be fully committed to the change and willing to risk their reputation to make it work. At HPPC, this team would likely be a mix of executives, managers, and skilled laborers that understand the reason behind the change and believe that the actions they are taking are going to put the company in a better position for the future. This group needs to develop a plan or vision for where they are going. In this case, the plan involves designing the first product to be produced. This will likely take a long time, as the team will be required to test the feasibility and marketability of their new product. Without this information, it will be difficult for executives to buy-in to the new sector. The vision must simply and effectively demonstrate that the new sector will add value to the company. Consistency is also key; all members of the team need to be on the same page while promoting their vision. Communicating the idea properly by outlining the benefits of the product will get others ready to …show more content…
527). HPPC needs to continually evaluate and monitor the new sector for future viability. Things may be going great right now, but that could completely shift in the future. This is where the help of a product development expert would benefit the company. They know what to look for when making these evaluations - the proven predictors of future performance. Over time, HPPC can begin making these evaluations themselves, but until they know what to look for, it 's best to rely on someone who has experience. When assessing the change effort, HPPC should refer back to the original goals of the change. Are they able to rely more upon the new segment for revenue? Is this a segment they will be able to invest in and grow into a major part of their business? These questions (and more) need to be answered in order for HPPC to have a confidence that the new sector is
Currently, HPPC does not create their own products; they only make parts for other companies ' products. The way for HPPC to combat these pressures is to introduce a product development …show more content…
The group must be fully committed to the change and willing to risk their reputation to make it work. At HPPC, this team would likely be a mix of executives, managers, and skilled laborers that understand the reason behind the change and believe that the actions they are taking are going to put the company in a better position for the future. This group needs to develop a plan or vision for where they are going. In this case, the plan involves designing the first product to be produced. This will likely take a long time, as the team will be required to test the feasibility and marketability of their new product. Without this information, it will be difficult for executives to buy-in to the new sector. The vision must simply and effectively demonstrate that the new sector will add value to the company. Consistency is also key; all members of the team need to be on the same page while promoting their vision. Communicating the idea properly by outlining the benefits of the product will get others ready to …show more content…
527). HPPC needs to continually evaluate and monitor the new sector for future viability. Things may be going great right now, but that could completely shift in the future. This is where the help of a product development expert would benefit the company. They know what to look for when making these evaluations - the proven predictors of future performance. Over time, HPPC can begin making these evaluations themselves, but until they know what to look for, it 's best to rely on someone who has experience. When assessing the change effort, HPPC should refer back to the original goals of the change. Are they able to rely more upon the new segment for revenue? Is this a segment they will be able to invest in and grow into a major part of their business? These questions (and more) need to be answered in order for HPPC to have a confidence that the new sector is