Question

Your firm manufactures small personal electronic devices, like phones, GPS systems, and tablet PCs. Some of the metals your company uses are becoming increasingly scarce, and it’s your job to make a plan to keep the firm in business even with these scarcity issues. What factors should you take into account when preparing your recommendation? What can your firm do to remain competitive in the face of diminishing resources?

(2-3 paragraphs please) (5-6 sentences each)

Answer 1

Explanation:

In the modern world, there are many resources which are brink on diminishing, many are being scarce. Modern word companies have to adapt to a sustainable business plan because of scarce resources in the world. More and more companies are opting to have lean and sustainable production methods. In the above type of case, the firm can do first thing is that they can go for recycling system where they will recycle the old part or whole device and find metal which is recyclable to produce those devices again so that resources will be used in an optimum manner and there will be lower use of that scarce resource.

Another option, which firm can go for is finding alternative of that metal or use another material which is less costly and easily available for while using lean production to stay in the competition and have more competitive price for their product. Another way is that possible is that use composite of metal which can reduce the scarce metal use and using another easily available metal while not losing the quality of the product. This way the company can compete in the market with rival firms without compromising quality.