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Item Information   Holdings       More by this author     Karnopp, Paul H.     Subjects     Founding     Foundries -- Economic aspects -- United States     Manufacturing processes     Management -- Case studies     Entrepreneurship     Leadership     Marketing.     MSEM Thesis.     Browse Catalog     by author:      Karnopp, Paul H.       by title:      Business recommendat...         MARC Display

Business recommendations for Pacific Equipment, Inc. / by Paul H. Karnopp. by Karnopp, Paul H. Subjects Founding   Foundries -- Economic aspects -- United States   Manufacturing processes   Management -- Case studies   Entrepreneurship   Leadership   Marketing.   MSEM Thesis. Description:  viii, 127 leaves : ill. ; 29 cm. Contents:  Advisor: Curtiss Peck. Committee members: Dr. Bruce Thompson, Gregory Chapman. Introduction -- The foundry industry -- The typical modern foundry -- Analysis of the foundry market -- SWOT analysis of foundry industry -- Analysis of Pacific Equipment -- SWOT analysis of Pacific Equipment -- Recommendations for Pacific Equipment -- Conclusions -- Glossary -- Bibliography -- Appendix A- Professional Engineer Code of Ethics B- Example of a business plan by Business Plan Pro. In this paper, the author developed general business recommendations for an organization called Pacific Equipment. Pacific Equipment is a new, small, entrepreneurial firm attempting to enter the foundry equipment market. In this paper, the author studied two areas in detail in order to develop effective recommendations. These two areas of detailed study include the foundry industry and entrepreneurship. The first area of detailed study is on the foundry industry. This author studied not only the history, but also the current state of the foundry industry. According to the review of literature, the foundry industry is one of the oldest industries known to man with its roots in the beginning of known civilization. Today, the modern foundry carries out three major functions, which include mold making, metal melting and pouring, and casting cleaning and preparation. The United States and China dominate the foundry industry today with a total production of 28 million tons of castings. The foundry industry serves a diverse group of customers including the automobile industry, housing industry, railroads, and construction industry. Even though the foundry industry serves a diverse group of customers, the foundry industry is a low growth industry with production expected to increase only 1.2 percent over the next few years. Large, multinational corporations with large capitalization characterize suppliers of equipment and supplies to the foundry industry. The second area of detailed study was on entrepreneurs. Entrepreneurs create new products or services, identify and gather resources to produce and see that product or service, and take on personal financial risk in order to sell that product or service. Entrepreneurship affects and is affected by four areas of business which include strategy, marketing, organization, and management. According to research, entrepreneurs should pursue a differentiation strategy in order to increase their chances of success. In order to define and communicate a strategy, entrepreneurs should develop an effective mission statement. In addition, entrepreneurs should pick industries and trends that will allow them to support growth. Entrepreneurs should also use tools such as SWOT analysis and the five forces model to analyze their market environment in order to compete effectively in it. Although not important in the beginning, entrepreneurs should work at developing both organizations and management competencies that will support their strategy and growing business. This author provided recommendations to Pacific Equipment to increase its chance for success. First, because of the large size and capitalization of its competitors, Pacific Equipment should pursue a differentiation strategy in order to avoid direct competition with them. Pacific Equipment should develop its organization and management competencies in order to support that strategy. The organization that Pacific Equipment should pursue should emphasize its R&D and marketing functions over that of manufacturing. In addition, Pacific Equipment should try at this time to strengthen its current sales agreement in order to sell its products to a worldwide market. Other items that Pacific Equipment should pursue include developing web support for its products, development of an effective mission statement, and development of stronger management capabilities.   Copy/Holding information Location Collection Call No. Status   Walter Schroeder Library Master's Theses AC805 .K367 2004 Available Add Copy to MyList Format: HTMLPlain textDelimited Subject:   Email to:

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