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with suppliers), I did not think that I would have the highest final ranking. My decisions were notconservative nor aggressive, but somewhere in-between the two extremes. With this outlook, Iexpected to rank in the middle. I was hoping that with my long-term outlook, the final rankingswould be different and reflect this extended plan, but that is not very realistic. I felt that Redex'saggressive plan would create the most value because it was the first company to implement Project3. I thought that the first company to implement this project would have an advantage over itscompetitors. While this is true, Redex did not seem to plan for the implementation appropriately.Redex lost the sales of 2,000 units in Q3 (when it implemented Project 3) due to not having enoughproduct to meet demand. I think this is what ultimately hurt Redex and cost it the value it couldhave gained by being the first to implement this project. Where will organic growth come from over the next 2 to 3 years? What arepotential new market/product/service opportunities?I believe that organic growth is essential for Hisco's future. "Organic growth is growth from
Page 8 of 16Student: Tracie Bowleywithin a company that represents an opportunity to leverage core competencies in order to expandboth revenue and profits" (Ivasciuc & Epuran, 2015, p. 186). Organic growth can occur byenhancing competencies with Hisco in order to improve revenue and profits. For example, Hiscocan increase its funding for engineering quality in order to increase its technical and perceivedquality. In doing so, Hisco would eventually be able to gain a competitive advantage with itsengineering quality and be able to increase its product pricing to reflect its superior quality. Anotherexample would be to increase its Lean Sigma Six. This would continue to decrease processing time.A decreased processing time would mean that employees can complete a unit of product quicker andmore efficiently than before. With the growth of the market, this would be beneficial to HIscobecause it would lower overall labor costs because fewer employees would be needed tomanufacture its product. Hisco could also experience organic growth by reducing its costs. If thecompany can reduce its costs, the result will be increased profits as long as sales remain consistent.Another way that Hisco can grow in the future is with potential opportunities. Hisco alreadyfound success by implementing Project 3, which expands the current market for its product. Inaddition, Hisco expanded its market to include the EC. This type of growth can continue by Hiscoadapting its reader to work in other countries (like China, Japan, the Middle East, and Africa). Inaddition, Hisco could begin to offer customers the option to purchase updated software for olderreaders. For example, Hisco's speedy reader was essentially an updated version of its originalproduct. Customer who purchased the original product could sign up to receive updates for theirproduct for an additional fee. Updates would cost Hisco a fee to install, but this fee would be lessthan the fee customers would pay for the update.