Identify the type of specialized investment that each of the following situations require: 1. You need...

Identify the type of specialized investment that each of the following situations require: 1. You need to hire an employee to operate a machine that only your company uses. 2. Your input supplier is far away from your facility. 3. You need your supplier to provide you with an input that they do not usually produce and that only you can use in the production process

Expert Solution

ANSWER:

GIVEN THAT:

THE SPECIALLZED INVESTMENT THAT EACH OF THE FOLLOWING:

1. EMPLOYEE TO OPERATE A MACHINE:

1. In this given case the company should invest in specialized manpower in case they are hiring from outside of the company and in case the recruitment is from internal sources the company must invest in the training and development of the respective employee.

2. This is because the company wants to run/operate a specialized piece of machinery which could only be operated by someone who has knowledge and skills to operate it.

2. SUPPLIER FAR AWAY FROM YOUR FACILITY:

1. In this scenario there are two options (assuming that the supplier remains same, there is always an option to change the supplier) in front of the company, where they can invest in developing a seamless logistics chain or built a plant near the supplier ( for instance constructing a plant where inputs are endemic to the region is more feasible than having an efficient logistics chain)

2. Proper study to be undertaken and then one of the two decision must be taken.

3. PROVIDE YOU WITH AN INPUT:

1. Here if the company wants the input to be according to their specification and the supplier, here the company can invest in two ways, one it can invest in the small chain

2. Where they can tweak the input material from supplier or they can partner with supplier by doing part investment to supply the input of their specification, this would also help them in keeping cost at minimal.

Rahul Sunny answered 6 months ago

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