Vision Statement:

To equip individuals and organizations with the highest performing and most reliable sensors to improve their innovation.

Mission Statement:

Our mission is to rid industries of obsolete, lethargic sensors that cripple operational productivity and halt innovation. We consider it our obligation to provide customers with innovative technologies that adequately and precisely transmit crucial data to decision makers across all levels of an enterprise. Andrews is committed to constructing the highest performing OEM sensors that enable employees and managers to accomplish significantly more collaboration than would be possible individually. We hold a strong conviction that our current technology will deliver robust value to investors. We sense your standards are high. Ours are higher.

Chosen Strategy:

The strategy that Team Andrews decided to employ was Niche Differentiator (High Technology). This strategy focuses on Performance, Size, and High-End segments which revolve around a highly developed Research and Development department to give us a superb competitive advantage. Our products will boast a sleek, innovative design that is tremendously reliable. Reliability is a key component in creating a high-performing product for a niche market and may result in a lack of viable customers and sales. The increase in reliability in comparison to our competitors will overcome the consumer perception that our product is too costly in comparison to others in our industry. The product we developed is not meant to be a broad product that is accessible to everyone, but a sophisticated sensor that will be enjoyed by individuals or businesses who seek to maximize productivity and hasten the decision-making process. Due to our focus on maintaining our position as a market leader, our company understands that our inflated cost of goods may result in phasing out lower-end products for free capital to reinvest.

2. Chosen Segments:

The segments our company expects to focus on are the Size and Performance segments. These segments are widely considered the most vital segments, especially in the technologies industry. As we have seen with renown companies such as Apple, there is a strong push towards increasing the performance of technology while also maintaining a practical size. Our sensors will be used in a variety of products that can cover a multitude of industries. We will continue to maintain a Traditional and High-End presence but may phase out the Low-End segment to fund technological growth. Due to the niche focus strategy Team Andrews has chosen to employ, we anticipate having a smaller market share in the Low End and Traditional. This is due to our decision to focus more on outputting a smaller volume of higher quality products instead of a larger quantity of average quality products. We believe that this strategy will result in more revenue over the course of the six-year period in comparison to the average product.

3. Profit potential:

Profit potential can be defined as the capacity of a business to increase their cashflow with future trading and business transactions. As we analyze Andrews it is evident that we have an immense amount of profit potential when looking into the future. Andrews did not end this past fiscal year well. As of 12/31/2023 we have a cash position of ($478,000). This comes from a high change in inventory ($14,340,000) with not enough cash flow from investing or financing to match it. This leads us to make the decision to issue stock to help increase our cash on hand to fund research and development for innovating our Aft and Agape products. We are looking to sell shares to generate cash inflow for our expenditures. With this, our profitability goals entail releasing a better performing product that will allow us to operate at a gain for 2024 and moving into the 2025 fiscal year. Research and development should take 3-6 months as we are going to revolutionize the product to have higher performance. For segments that do not value reliability their MTBF will be reduced to the minimum or the average. This will increase the contribution margins of those products to help meet our growth targets. Innovation will increase the product's MTBF from 25,000 to 27,000, making it more reliable. Along with MTBF we will be decreasing the size from 15.5 to 14.5. As for Agape, our plan is to increase the Pfmn from 4.0 to 5.0. Our profitability goals are to increase revenue by 10%. We expect to be profitable by the end of 2024 as this R&D date should be finished by July 28^th, 2023.

4. The speed at which you can support defendable position:

To support a defendable position for customers, our company will operate under a niche differentiator strategy. This strategy will allow us to have a concentrated pool of customers that enjoy a high-performance microchip that is the perfect synergy between affordability and reliability. Though improvements in technology will take several years, our team is committed to being on the forefront of new improvements by carefully analyzing and retiring existing products to better allocate resources for continuous innovation. The shorter life cycle of our product will enable our company to focus on providing industry-leading advancements to maintain a strong grasp on the market share of high-performing sensors. Our product is not average nor is it created for the average consumer. Andrews will have the highest performing sensor available on the market.

5. Priorities:

The new product line will feature a state-of-the-art, sleek design that no other sensor on the market has boasted before. In addition, our highly funded research and development sector will work on creating a new operating system that varies from the conventional sensor. For this reason, our company will attract customers who are seeking improved efficiency in their various disciplines. User-interface is also a high priority of our organization. Our high-performance sensors will come with a customizable interface that is easily adjustable for a variety of consumers in a plethora of disciplines. Size and performance are where our company excels. Meeting the demands of our niche market is crucial, that is why we are striving to reach a consumer base that is specifically designed for a needed operation or consumers who will travel with these devices to conduct business. A niche market will be extremely beneficial as we will get immediate feedback from our customers as we are only targeting a small subset of the market. Constantly, creating additions by re-allocating resources that were being used for old products will allow our company to adapt to the ever-changing market needs.

Based on the information provided above, what are three top competencies necessary to execute the vision, mission, and strategy with explanations.