3 (15 Marks) Read case extract below and answer ALL the questions that follow. Pioneer Manufacturers is an original equipment manufacturer in the aircraft manufacturing industry. The Company has in recent years experienced a number of problems relating to the development of a part for the new Boeing 777 aircraft. Furthermore, the entry of a new company with superior technology in the sector is threatening the long-term sustainability of Pioneer manufacturers. Firstly, the new entrant has managed to poach a number of highly-skilled employees from Pioneer Manufacturers. Secondly, there has been a spike in the number of defective products assembled on the new line, leading to an increase in the number of products rejected by Boeing. Thirdly, the profit margin of the company has been on a decline over the last few years, leading to a deterioration of its debt to equity ratio