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:

Sitting Up

is the act or instance of moving to a sitting position from a lying down position, often considered an important developmental milestone in infants.

Conservation

The understanding in cognitive development that quantity or amount remains the same despite changes in shape or presentation.

Nature

The physical world and everything in it, such as plants, animals, and landscapes, as opposed to humans or human creations.

Nurture

The influence of external factors like environment, education, and social experience on an individual's development, as opposed to genetic predisposition.