Analyze quantitative and qualitative data to solve problems and make decisions ?that impact organizations and their stakeholders ?? What to Subm

BUS-225-H7435 Crit Bus Skills for Success DUE 6/3/22

Project Two

Competency

In this project, you will demonstrate your mastery of the following competency:

· Analyze quantitative and qualitative data to solve problems and make decisions that impact organizations and their stakeholders

Scenario

You have been asked to present your data findings and decision-making modeling to the leadership panel for feedback prior to the stakeholder meeting presentation. The panel wants to preview the charts and graphs that will be included in your presentation based on the research you have conducted. They would like to see how you will use the data to inform your recommendation, and how you will tell the story of that data.

Directions

Part 1: Using the research gathered in Project One, provide a visualization for each of the following, then summarize what the data is showing:

A. The current state of the U.S. automotive manufacturing industry

a. Sales by fuel type (electric, hybrid, gas)

B. Current automotive industry trends

2. The trend toward different types of motors for the vehicles being made and sold, such as electric and hybrid

2. Trends in customer demands such as vehicle color, extra features, and styles

2. Trends in the body types of vehicles sold (SUVs, trucks, sedans)

1. Trends in the new industry ( Generators)

3. Expected growth areas

3. Sales by type of products or services offered

3. Trends in customer demands

Then, provide a summary of all of the data visualized.

a. Summarize the collective data about both industries as a whole.

b. Determine what the data is not telling you about the new industry.

Part 2: Analyze three decision making models and select the one model that is best suited for making your decision.

A. Analyze and provide an overview of the following three models and select one for use. Resources are listed in the Supporting Materials section.

a. The Rational Model

b. The Intuitive Model

c. The Recognition-Primed Model

B. Explain your choice of decision-making model.

2. Why does your selection make the most sense for this project?

What to Submit

To complete this project, you must submit a PowerPoint presentation of 12 to 15 slides with speaker notes. Sources should be cited according to APA style.

Supporting Materials

The following resources support your work on the project:

· Reading: Rational Decision Making: The 7-Step Process for Making Logical Decisions- https://blog.hubspot.com/marketing/rational-decision-making

· Reading: Intuitive Decision Making- https://www.decision-making-solutions.com/intuitive_decision_making.html

· Reading: The Recognition-Primed Decision Model- http://www.free-management-ebooks.com/news/recognition-primed-decision-model/

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Project One: Executive Summary

Shelly Estes

Southern New Hampshire University

BUS 225: Critical Business Skills for Success

Kent Lacy

May 22, 2022

Project One: Executive Summary

Project One: Executive Summary

Problem

I will be presenting an executive summary that will address automotive manufacturing and electrical equipment manufacturing within the United States. In order to bolster the company's portfolio and increase revenue, the company is considering diversifying into other business opportunities. 

This summary will determine whether diversification into electrical equipment manufacturing (i.e., generators) would be a good decision for the company. Generators are essential need for commercial and residential.

By analyzing the automotive manufacturing industry and the potential of the electrical equipment industry and compare descriptive statistics using quantitative and qualitative data. 

Automotive Manufacturing Industry

Recently major automotive companies have focused their operations on hybrid or electronic cars. However, current market trends in the automotive industry show it focuses more on autonomous vehicles and the Internet of Things (IoT). Studies have shown that people want more autonomous vehicles because of their potential to provide more efficient transportation, have better fuel savings, and reduce crash-related incidents. 

Some autonomous vehicles include the 2021 Cadillac CT4, 2021 BMW 7 Series, and 2021 Tesla Model 3. (Top 10 Automotive Industry Trends to Watch in 2021, 2021). In addition, the Internet of Things (IoT) helps improve road safety, reduce pollution, and solve traffic congestion. 

IoT connects through in-car applications, which provide real-time driving data that can be utilized to give information to navigation. This helps drivers with traffic hazards, accidents, and bad road conditions. IoT also helps manage car software assets that involve proper testing and accurately deploying software. (Capparella, 2021b). Trends regarding automotive vehicle body types have changed drastically over the years.

As of 2021, the most popular vehicle sold so far is Crossovers. As of June 2021, crossovers account for over 45% of automotive sales in the United States. Some of the top sellers include the Nissan Rogue, Honda CR-V, and the Toyota RAV4 (Statista, 2021a). A couple of reasons why the crossover is so popular are its versatility and cargo space. They are also more fuel-efficient and cheaper than larger SUVs.

The electrical equipment manufacturing industry in the United States is an integral part of many industries. As a result, power generators have a broad spectrum of uses, both commercial and personal or residential facilities. 

It is an essential part of many industries allowing energy solutions to penetrate additional markets such as health care and hospitality. The portable generator market is projected to reach $2.5 billion by 2026 from an estimated $1.8 billion in 2021. The frequent power outages due to weather (i.e., hurricanes, tornadoes, and snowstorms) are the main forces for the portable generator industry. Infrastructures such as hospitals and emergency service providers must always have a dedicated source of electricity. "Increasing adoption of dual fuel and inverter portable generators or expected to offer lucrative opportunities for the power generator market during the forecasted period. However, portable generators' limited power generation capacity acts as a restraint for the product." (Business Wire, 2021)

New Industry

The electrical equipment manufacturing industry in the United States is essential for many industries. Power generators have a broad spectrum of commercial and personal or residential facilities. It is an essential part of many industries allowing energy solutions to penetrate additional markets such as health care and hospitality. The portable generator market is projected to reach $2.5 billion by 2026 from an estimated $1.8 billion in 2021. 

The frequent power outages due to weather (i.e., hurricanes, tornadoes, and snowstorms) are the main forces for the portable generator industry. Infrastructures such as hospitals and emergency service providers must always have a dedicated source of electricity. "Increasing adoption of dual fuel and inverter portable generators or expected to offer lucrative opportunities for the power generator market during the forecasted period. However, portable generators' limited power generation capacity acts as a restraint for the product." (Business Wire, 2021)

The global portable generator market is expected to grow strong from 2021-to 2026. Low-end models of portable generators support few basic home appliances, whereas the high-end models can provide power backup to the whole house and small businesses. Today, portable generators are gaining traction among those who use the generators as they are cost-effective and can be easily moved from one place to another. Consumers are now depending on generators for much more. Items considered "essential," such as washer/dryer, refrigerators, and cooling, have evolved into the internet and electronics. "Looking forward, the publisher expects the global portable generator market to grow at a CAGR of 6.8% during the forecast period (2021-2026)." (Markets, 2021)

Porter's Five Forces Analysis of the New and Automotive Industry

  

	New Industry	Automotive Manufacturing Industry
Rivalry among existing competitors	There is a large number of competitors in the generator industry within the United States. With this, the market is fragmented and overall, the risk or the generator industry is low. Some of the markets biggest competitors are Briggs & Stratton Corp. (US), Caterpillar Inc. (US), Cummins Inc. (US), DuroMax Power Equipment (US) to name a few. (Markets, 2021) There are a number of firms that may be considered suppliers of portable generators. The cost for a company that is diversifying is usually not an issue. Most companies have investors for a new startup and the risk of bankruptcy for utility companies or really low. There is not much threat to the generator industry at this time.	Although the market for automotive manufacturing supply of engines is controlled by a few companies, there is a strong presence of rivalry in the automotive industry market because there is a large number of firms competing throughout the industry. There is a moderate chance of being acquired by competitors because of the risk of bankruptcy.
Threats of new entrants to the market	There are several environmental regulations depending on the state or local government for generators. Generators can release several different error pollutants such as carbon monoxide carbon dioxide sulfur dioxide in xylene to name a few. Also depending on the state or local government air, parading and/or construction permits may be needed. It is typically difficult for new entrants to gain entry into the generator market. However, existing companies in the automotive manufacturing market should not have many issues breaking into the generate a market. The demand for generators has increased drastically over the years and is projected to continue to increase well until 2024.	There are very few legal barriers to protect any existing companies from new entrants. New entrants could easily access suppliers and distributors within the automotive industry if they are able to bring modern products and new ideas to the industry. However, new entrants would have to focus more on engineering and product quality, and there is a large amount of cost required for startup.
Bargaining power of suppliers	Bargaining power for suppliers is weak due to the large number of suppliers and materials being widely accessible. The top vehicle brands hold extensive value because raw material is always available and their relationship with suppliers allow them to switch from one to another without difficulty.	Bargaining power for suppliers is weak due to the large number of suppliers and materials being widely accessible. The top vehicle brands hold extensive value because raw material is always available and their relationship with suppliers allow them to switch from one to another without difficulty
Threat of substitute products	There are many different substitute products for transportation which include trains, buses, bicycles, and planes. However, these substitutes do not always provide the same amount of convenience. For this reason, the threat of substitutes is weak, but they can sometimes be more affordable.	There are many different substitute products for transportation which include trains, buses, bicycles, and planes. However, these substitutes do not always provide the same amount of convenience. For this reason, the threat of substitutes is weak, but they can sometimes be more affordable.
Bargaining power of buyers	Bargaining power for buyers is strong due to the large number of buyers being individuals. There is also a threat which comes from corporations that buy fleets of vehicles. When corporations are buying vehicles by the fleet, they are in a position to bargain versus individuals. Buyers have the choice to use alternative brands and are very sensitive to brands and pricing. Manufacturing companies tend to use their design and quality and focus more on customer loyalty	Bargaining power for buyers is strong due to the large number of buyers being individuals. There is also a threat which comes from corporations that buy fleets of vehicles. When corporations are buying vehicles by the fleet, they are in a position to bargain versus individuals. Buyers have the choice to use alternative brands and are very sensitive to brands and pricing. Manufacturing companies tend to use their design and quality and focus more on customer loyalty

 

  

Rivalry among existing competitors

There are many competitors in the generator industry within the United States. With this, the market is fragmented, and overall, the generator industry's risk is low. Some of the market's biggest competitors are Briggs & Stratton Corp. (US), Caterpillar Inc. (US), Cummins Inc. (US), and DuroMax Power Equipment (US) (Markets, 2021) 

Some firms may be considered suppliers of portable generators. The cost for a company that is diversifying is usually not an issue. Most companies have investors for a new startup, and the risk of bankruptcy for utility companies is low. Therefore, there is not much threat to the generator industry at this time.

Although a few companies control the market for automotive manufacturing supply of engines, there is a strong presence of rivalry in the automotive industry market because many firms are competing throughout the industry. In addition, there is a moderate chance of being acquired by competitors because of the risk of bankruptcy.

 

  Threats of new entrants to the market

There are several environmental regulations depending on the state or local government for generators. For example, generators can release several error pollutants such as carbon monoxide, carbon dioxide, and sulfur dioxide in xylene. Also, depending on the state or local government, air, parading, and/or construction permits may be needed. 

It is typically difficult for new entrants to enter the generator market. However, existing companies in the automotive manufacturing market should not have any issues breaking into the generator market. The demand for generators has increased drastically over the years and is projected to increase well until 2024. 

There are very few legal barriers to protecting existing companies from new entrants. New entrants could easily access suppliers and distributors within the automotive industry if they can bring modern products and new ideas to the industry. However, new entrants would have to focus more on engineering and product quality, and there is a large amount of cost required for a startup.

 

  Bargaining power of suppliers

Bargaining power for suppliers is weak due to many suppliers and materials being widely accessible. However, the top vehicle brands hold extensive value because the raw material is always available, and their relationship with suppliers allows them to switch from one to another without difficulty.

 

  Threat of substitute products

There are many different substitute products for transportation, including trains, buses, bicycles, and planes. However, these substitutes do not always provide the same amount of convenience. For this reason, the threat of substitutes is weak, but they can sometimes be more affordable.

  Bargaining power of buyers

Bargaining power for buyers is strong due to the large number of buyers being individuals. There is also a threat from corporations that buy fleets of vehicles. When corporations buy vehicles by fleet, they are in a position to bargain with individuals. Buyers choose to use alternative brands and are very sensitive to brands and pricing. Manufacturing companies tend to use their design and quality and focus more on customer loyalty.

Porter’s Five Forces Analysis Chart—New Industry

Rivalry among existing competitors

Low

Threat of new entrants

Low

Threat of substitute products

Low

Bargaining power of buyers

High

Bargaining power of suppliers

Low

Porter’s Five Forces Analysis Chart—Automotive Manufacturing Industry

Rivalry among existing competitors

High

Threat of new entrants

High

Threat of substitute products

Low

Bargaining power of buyers

High

Bargaining power of suppliers

High

 

Comparison of the Industries

Rivalry is low in the generated industry because of the number of competitors and its fragmented market versus the automotive industry. There is a strong presence of rivalry because of the large number of firms competing throughout the industry. It is difficult for new entrants to gain entry into the market for the generator industry because of its existing companies.

The automotive industry does not have a threat of diversifying into the generator industry because of its reputation. Suppliers' bargaining power for both the generator and automotive industries is low due to startup costs and the widely accessible number of suppliers and materials available.

The threat of substitute products for both the automotive and generated industries is low. The demand for generators has increased drastically and is projected to increase soon. Also, the threat of substitute products in the automotive industry is because of the convenience of these available substitute products.

The bargaining power for buyers is different within the industries because bargaining power is limited for generators. This is due to the projected needs and alternative options available for generators. The bargaining power for the automotive industry is strong due to many buyers available, including individuals and corporations, having the ability to bargain their prices and brands.

Summary of Findings

After researching the automotive and electrical equipment manufacturing industries, I have determined that the generator industry would be a great industry to diversify into. Its demand and accessibility have been increasing, and it is predicted to continue to increase throughout the near future. There is a low number of big competitors due to the fragmented market.

There should be no issues with the automotive company breaking into this industry because of its reputation. The cost of diversifying into the generator industry can be high. However, the risk of bankruptcy is low. Since the demand for generators has been increasing, the threat of substitute products is limited.

References

Electrical Equipment Manufacturing in the US

https://my-ibisworld-com.ezproxy.snhu.edu/us/en/industry/33531

Engine & Turbine Manufacturing in Canada

https://my-ibisworld-com.ezproxy.snhu.edu/ca/en/industry/33361aca

Business Wire, 2021

Berkeley Lab, 2018

Markets, 2021

Top 10 Automotive Industry Trends to Watch in 2021, 2021

Honda: Company finally makes a serious move into the electric vehicle market (Analyst Insights published by MarketLine on 09 Jan 2018)

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