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Week Three Journal

Tracie Bowley

BUS 687 MBA Capstone

Instructor: Michael Hamlet

December 9, 2019

Learnings

During Week 3, students were required to make business decisions for Q2 based on information that was provided in Q1's results, a variety of dashboards, internal emails, and industry news.During Q2, students learn of a potential cost saving opportunity that requires a $150,000 investment.This investment has the potential to pay for itself in its first year of use.Students are also allowed (or required) to make adjustment to their annual budget in order to remain within their budgetary constraints, account for unexpected changes, change production plans (including labor changes, adding line capacity, adjusting planned production time, the amount of raw materials to order for the following quarter, and the amount of products to produce).Adjustments can also be made in relation to market growth expectations, Hisco's market share (or amount of sales), and the product's selling price.

Market growth expectations for Q2 changed since completing Q1.This means that Hisco can expect to sell a different number of readers based on its share of the market and the size of the market.Based on the completion and implementation of Project 2, I decided to increase the selling price of Hisco's readers.This decision ultimately had an impact on the results for Q2.The increased price combined with a competitor's implementation of Project 1 and Project 2, Hisco lost a portion of its market share.This decrease in market share had a significant impact on the quarter's pre-tax net income.This decrease in market share was partially offset by the increased price of Hisco's reader.

In Q1, I made a decision to increase production capacity by adding new employees and installing new inspection lines.I could have increased production on a smaller scale and chose to develop Project 1.I decided not to d this, and I allowed one of Hisco's competitors to gain an advantage over Hisco.The objective of any company is to achieve long-term success, which is why I made my initial decision in Q1 to expand Hisco's capacity.After reviewing results from Q2, I do not regret my initial decision, however I wish I would have thought about this possibility before making my decisions in Q2.Had I taken this into account, it is likely that I would not have increased the price of Hisco's readers in an attempt to maintain (or possibly gain) market share.Instead, I could have made a slight change to the terms relating to accounts receivable, tried to negotiate extended payment terms with Hamada, or made small budgetary cuts in other areas in order to meet my commitments.

Going Forward

Business outcomes in previous periods (or quarters) should be analyzed before making future decisions.Every business decision made in one quarter has an impact on the business in future quarters.For example, the decision I made in Q2 to increase the product's price had an impact on Hisco's market share.Hisco's new market share will have an impact on the company's sales, and sales have a direct connection to income.I need to analyze the reason Hisco lost market share in Q2 so that I can make adjustments to my strategy and budget in Q3 and beyond.This could include price reductions in an attempt to regain market share, an expansion into new a new area (Europe), or increasing discretionary expenses like engineering quality, marketing, advertising, or future research funding.The decisions made for Q3 should reflect the analysis of Q2 as well as any other information obtained from internal email, industry news, the business intelligence dashboards, and the phone calls I make.If previous outcomes are not analyzed, it is likely that decisions for the quarter will not be fully thought out and will not produce the best possible results for the company.By taking previous business outcomes into consideration, the company can be more confident in the decisions it makes going forward.