Apex Corporation Manufactures a Complete Line of High Quality Bits

question 47

Essay

Apex Corporation manufactures a complete line of high quality bits for electric drills. Apex has a good record for product innovation and effective marketing and distribution. An increase in domestic and international competition during the past two years has limited the firm's sales growth to 3 percent per year, down from the previous five-year average annual growth of 5 percent. In addition, market share declined by 0.5 percent this past year. Apex is experiencing profit reductions caused by price competition and manufacturing cost increases.
Required:
Choose one of the 13 contemporary management techniques introduced in Chapter 1: Explain why the technique you selected is appropriate in helping Apex develop a plan for reversing the decline in sales growth and controlling the growth in costs.

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Definitions:

Deployment Experience

Experience gained through being assigned to a particular duty or location, especially in a military context.

Active Duty

A military status describing personnel who are currently serving full-time in their military capacity.

Military Culture

The customs, traditions, and behavioral norms that define the lifestyle and professional conduct of military personnel.

Within Group Differences

Variations in characteristics or behaviors observed within a single group of individuals.