MDCM CASE Essay Example | Topics and Well Written Essays - 1750 words

MDCM CASE - Essay Example The services that are provided by the company must also be of standard quality. The company has been suffering loss in the market in spite of all its steps and strategy designed for the customers and company’s benefit. The company shares its benefits and losses with the customers in order to form close relations with the customers. With the passage of time, the company has identified the importance of its global status. It has expanded by opening many offices, branches and acquisitions in different parts of the world. However, the company identifies its lacking procedures and slowed information collection and update due to which, it goes through transformations under the heading of Horizon 2000. The company requires a well established IT strategy in order to meet the competition in the market. This paper analyzes the issue in detail. Strategic Goals of MDCM MDCM does the business of medical devices contract manufacturing and is well reputed because of its expansion with the pa ssage of time. The company has well defined strategic goals and due to some problem with meeting the goals, the company has faced continuous losses. The strategic goals of the company are as follows (Jeffery & Norton 1-7): To facilitate the customers with their required devices within due time. To develop an online ordering and account management system that the customers will be able to use themselves. To provide an end-to-end package of medical device contract manufacturing services. To design and fabricate specialized equipment used in the assembly of manufacturing services. To form close partnership arrangements with its customers. To share rewards and risks of the business with its customers. To work with customers as close as it is possible. To reduce manufacturing costs to their lowest level. To maximize customer satisfaction by delivering quality parts and assemblies on time. To expand its business by opening new offices and manufacturing facilities close to its largest cust omers. To maintain that the acquisitions that the company makes, allow the company to spread its operational excellence while keeping the foreign companies autonomous enough to be able to better serve their local customers. Competitive Environment The firm MDCM faces a strict competition in the market because of more firms in the same business. With increasing concept of globalization, more people are active in market and provide globalized facilities to their customers due to which, all the firms face challenges to work towards success and expansion of their business on global basis. MDCM has designed a strategy to form good and close relation with its customers by involving them in their business as the company used to share its rewards and risks with its customers. However, with new businesses introduced in the market, this practice was copied and conducted by other businesses as well due to which, a competitive environment was created in the market (Jeffery & Norton 3). As a com petitive strategy, the company MDCM opened many offices at locations, which were near to their largest customers. Along with offices, the company also made a number of acquisitions. According to Jeffery & Norton (2006), â€Å"the acquisition targets were all non-US-based companies that had competencies in contract manufact

The Role America's Federal Reserve Played in Contributing to the Essay

The Role America's Federal Reserve Played in Contributing to the Actions Leading to the 2008 Financial Crises - Essay Example While the Federal Reserve is a cornerstone institution of the United States, critics have argued that in the long-term the Fed is actually bad for the economy. This research evaluates the extent that the Federal Reserve contributed to the actions leading to the 2008 financial crises. Analysis One of the most prominent critics of the Federal Reserve has been former Republican Presidential candidate Ron Paul. Paul’s perspective follows a line of logic that is directly related to the way the Fed functions. Paul indicates that when the American economy is lagging the Federal Reserve infuses new currency into the system. This new currency results in lowered interest rates. The lowered interest rates correspondingly result in capitalist expansion, as business and individuals increasingly engage in borrowing practices. The problem, as Paul indicates, is that such practices are artificial and don’t reflect the economies’ true and proper functioning. Paul has seminally no ted, â€Å"When central banks like the Fed manage money they are engaging in price fixing, which leads not to prosperity but to disaster† (Paul 2011). ... Kibbe (2011) argues that many Austrian economists predicted the 2008 financial crisis. Kibbe contrasts the Keynesian school of economics, which attempts to implement mathematical models in predicting future economic movements, with the Austrian school that argues later economic shifts can only be understood by examining human behavior. Similar to Ron Paul, Kibbe makes a number of sensational statements regarding the impact the Federal Reserve had on the financial crisis. In both perspectives their criticism is less about specific policy measures the Fed took, but rather with the entire existence of the Fed; as such, they believe that any actions this institution makes is ultimately bad for the economy. Just like Paul, Kibbe (2011) notes, â€Å"we would not experience such dramatic economic swings were it not for monetary policies that distort real prices and encourage improper investment decisions. Boom and bust cycles are inevitable when government interventions confuse market part icipants.† When one couples Kibbe’s perspective regarding boom and busts with statements made by the United States government leading up to the financial meltdown startling consideration emerges. For instance, he notes that Treasury Secretary Paulson said in 2007 that the global economy was at the strongest he had seen it in his career. Additionally, he states â€Å"Between 2001 and 2004, the Federal Reserve injected new credit into the economy, pushing interest rates to their lowest level since the late 1970s. As a result, the economy was booming just a few short years ago† (Kibbe 2011). Still, one recognizes that Kibbe provides little empirical evidence for the predictions of the Austrian economists against the failure of the Keynesian predictive models.