MBA 570 Week 6 Draft 1

MBA 570 Week 6 - RUNNING HEAD PROBLEM SOLUTION TERA TECH Problem Solution Tera Tech Tammy Wortherley University of Phoenix Professor Dawn

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Unformatted text preview: RUNNING HEAD: PROBLEM SOLUTION TERA TECH Problem Solution Tera Tech Tammy Wortherley University of Phoenix Professor Dawn Obermoeller August 10, 2009 Problem Solution: TeraTech Organizations must attend to customer concerns and improve commerce processes in order to continue growth and competitive improvement. Companies such as TeraTech can advance their processes by scanning the situation to identify market trends and target markets to take advantage of. Furthermore, companies should uphold customer relationships to retain and increase customers by forecasting and fulfilling their needs. The objective of this paper is to demonstrate a systematic approach using the 9- step Problem-Solving Model to provide TeraTech with real solutions to the company's challenges. The paper identifies opportunities and issues, defines the problem, and develops a set of alternative solutions. Finally, the paper suggests the best alternative to implement in order for TeraTech to achieve their goal of sustaining sales growth in the double digits. Describe the Situation TeraTech is a "Customer Relationship Management (CRM) solutions provider in the pharmaceutical industry" ("Scenario One," 2009, 1). Although the company has led its competitors in the industry, TeraTech's fourth quarter sales fell drastically, which concerns the company's CEO. TeraTech's executives presume one of the reasons for slowing growth rates is increased opposition with competitors that have the systematic software the pharmaceutical industry needs. Another concern is customer dissatisfaction acknowledged from the most current customer surveys. TeraTech's sales growth is slowing, which may lead to continued losses if the company does not expand to include a product to address customer needs. Furthermore, slowing expansion rates can be attributed to the company's clients moving to TeraTech's competitors who offer analytical and modeling tools that address pharmaceutical industry needs. To solve these concerns, TeraTech needs to conduct a market analysis to put into operation, a new analytical product that will drive the company to double-digit growth ("Scenario One," 2009). Issue and Opportunity Identification TeraTech faces numerous challenges. First, the company's sales growth slowed due to customer disappointment and increased rivalry. Second, TeraTech's competitors have the analytical product the company's customer needs. Third, TeraTech is trying to manage operating costs and does not want to hire any new employees. In fact, the company plans on maintening maintaining the same number of employees from the previous year or reduce the numbers with attrition. A fourth challenge is TeraTech's current employees do not possess the skills necessary to develop and sustain the new analytical product. Lastly, TeraTech is concerned about implementing the new product in a short amount of time in order to linger behind its competitors....
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This note was uploaded on 11/13/2010 for the course IT 6410 taught by Professor Bebble during the Spring '10 term at Walden University.

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MBA 570 Week 6 - RUNNING HEAD PROBLEM SOLUTION TERA TECH Problem Solution Tera Tech Tammy Wortherley University of Phoenix Professor Dawn

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