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EXECUTIVE SUMMARY/SYNOPSIS
The Indiana plant's inability to retain a knowledgeable and competent crew is its
primary problem. Because of the high turnover rate, there is less training available, which
lowers production.
To address this problem, management should concentrate on enhancing benefits and
working conditions in order to draw in and keep skilled people. Through the implementation of
these steps, the company will be able to improve the caliber of its personnel, lower the high
rate of employee turnover, and ultimately raise plant productivity.
Specifically, the plant's research and development activities are the second main source
of concern. Even if the current research project might be beneficial in the long run, the board
members and plant manager are not willing to see it through to completion. They think that
this kind of job should be handled by outside parties like consultants or higher education
institutions.
INTRODUCTION
Central Wire company is a business that specializes very high-quality copper wire, plain
or coated with silver, nickel, or gold or insulated with Formvar, polyurethane, Teflon, or nylon.
Usually their wire is sold for pretty fancy electrical or electronics stuff.
This is an excerpt from a case conversation between a president of an industrial plant
and an advisor, most likely a professor or an experienced manager. Base on the context, the
wire product manufacturing company is modernizing both its output and its facilities.
Regarding the importance and worth of funding research, there is a discussion between
the plant manager and the staff members engaged in the work. The workers are not only
concerned with making sales right now; they also think that costs in R&D have the potential to
yield long-term benefits. They believe that using this investment strategy will help the company
expand and adjust to shifting market conditions.
However, the plant manager and other staff members contend that the existing
research expenditures are costly and pointless, and they recommend the use of agents to keep
a significant market share.
Working conditions at the plant: All legal criteria must be met by the plant's working
conditions. Minimum age restrictions, safety precautions, work schedule restrictions, and
suitable facilities are a few examples of these. Employees must also get equitable treatment
and equal possibilities for promotion. Additionally, Research and development investments
adequate funding for research and development (R&D) is necessary to improve productivity
and adjust to changes in the market. Lastly, Product mix and sales allocations: The selection of
goods that a company provides to the market is known as the product mix. The target market
should be reflected in this combination, which also guarantees product portfolio diversification.
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Overall, the company faces several challenges in addressing the needs of its workforce
and customers, while also navigating the risks and opportunities of future growth. The strategic
planning process can provide valuable insights into potential solutions and opportunities for
improvement.

FINDINGS
Once issues in the company came out, numerous answers were proposed to address the
issues. Mr. McCormick, the heir to the Central Wire firm, is seeking advice for a total overhaul
with an eye toward possible profits through expenditures in research and development, worker
satisfaction, and plant.
Currently, the company faces problems such as the fact that it does not have any
substitutes for sight, the ear, and especially the touch of skilled foremen or head machine
tenders. It has been determined that the pay, benefits, and working conditions as they are
currently being satisfactory. Thus, that the business take action to enhance training in order to
lessen the effects of too much turnover.
Also, Mr. McCormick doesn't like the idea of his father and Harson leaving the
expenditure of $120,000 a year on universities or consultants, which could eventually result in a
large amount of profit. Thus, Mr. McCormick claims that a current ratio of 3.2 to 1 and an acid
test of over 1.2 indicate that the company has excess cash. Below is the statement of sources
and applications of funds for the last year. Sales $13,000,000, Total Assets $5,000,000,
Stockholder’s Equity $3,300,000 and a number of employees composes of 250 persons.
And, the product mix currently skews towards defense electronics and communications,
while there is potential growth in other sectors. The combined product mix out of both plants is
now: Defense electronics 28.4, Commercial electronics 20.6, Home appliances 20.2,
Communications and utilities 16.3, Industrial machinery 11.1, and Automotive 3.4.
By looking for ways to spend the money and not conserve it, it can lead to regaining half
of its present profits after tax for plowing back into new or rebuilt plant and equipment.

DISCUSSIONS

The company should undertake to find skilled and strong leadership foremen, chief machine
tenders, and the lead hands, focus on open communication and problem-solving approaches,
and explore potential opportunities for training and skill development. And raising the general
level of wages or the rates for the less skilled grades, giving more benefits and incentives would
help them motivated to learn on a wire drawing machines, taking patience, application, and
careful attention on work.

It is essential to assess the overall competitiveness of the wages and benefits offered
compared to industry standards and potential alternative approaches to enhance the value of
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these factors. Critics of codes of conduct and voluntary monitoring regimes argue that they
displace more thorough government and union intervention and are designed not to protect
labour rights or improve working conditions but instead to limit the legal liability of global
brands and prevent damage to their reputation (Esben-shade, 2004).
Next, to proposed research efforts by highlighting the potential benefits and long-term
advantages of this approach. It's important to demonstrate that research and development
efforts align with the company's long-term strategic goals.
Following a structured approach that considers various factors such as financial viability,
technological feasibility, and market demand. This can be done by conducting market research,
analyzing industry trends, and examining competitor strategies, then allocate suitable resources
to the crucial research topics when they have been determined, ranking them according to how
they could affect the company's long-term performance.
Lastly, to optimize sales performance, the sales team should be allocated by territory and
focus on customer groups where they can provide the most value.
It is crucial to analyze the current sales force strategy and determine the optimal approach
for the company to establish a stronger presence in the market. This may involve adjusting the
sales force allocation and controlling more closely the customer groups on whom the salesmen
call. Additionally, a thorough evaluation of the current agents' performance and any potential
opportunities for growth and improvement should be conducted.
Over 1.3 billion tons of steel are manufactured and used every year globally (World Steel
Association, 2014). On average, 1.8 tons of CO2 are emitted for every ton of steel produced.
Iron and steel industry accounts for approximately 6.7% of total world CO2 emissions. At the
same time, in the last 30 years the steel industry has reduced its energy consumption per ton of
steel produced by 50%.
CONCLUSION
To conclude with Central Wire Company. In order to strengthen the company's overall
competitiveness and increase the value of its workforce, a number of critical initiatives must be
implemented. These include improving the leadership foremen's competencies, emphasizing
open communication and problem-solving techniques, and allocating resources to research and
development in order to identify potential training and skill development opportunities. The
business can put itself in a position to succeed in the fiercely competitive sector by tackling
these issues and adopting a proactive stance.

RECOMMENDATIONS
Implementing a comprehensive review process that considers the technologies
involved, possible markets, and resources needed is essential to optimizing R&D and sales force
development. The business can determine which technologies are the most promising and use
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its resources appropriately by closely examining the strategic ramifications of its research and
development expenditures. Similarly, the organization should set up a geographic plan that
centers on market segments with substantial growth potential when deciding how much money
to devote to the training of the sales force. This approach necessitates a thorough examination
of the state of the market and a determination of the areas in which the business can attain a
significant degree of market penetration.
By implementing these suggestions, the company will be able to improve its R&D and
sales force development capabilities, allocate resources more efficiently, and lower turnover, all
of which will contribute to long-term success and increased profitability.
In conclusion, the company can effectively handle the difficulties brought on by high
turnover and successfully adapt to the constantly shifting market landscape by putting into
place effective measures to improve working conditions, improve career growth opportunities,
and optimize R&D and sales force development. Long-term improvements to the company's
brand image and market position will result from this, in addition to growth and profitability
overall.

REFERENCES
Krenn, C., Weichbold, T., Korp, G., Meixner, E., Stockner, H., Berger, D., Bernreiter, J. Bleicher,
F., Geiger, G., Fresner, J. (2014). Qualitative and quantitative modelling to build a conceptual
framework to identify energy saving options: case study of a wire producing company. Journal
of Cleaner Production 95, 212-222. https://doi.org/10.1016/j.jclepro.2015.02.052
LOCKE, R., KOCHAN, T., ROMIS, M. and QIN, F. (2007), Beyond corporate codes of conduct:
Work organization and labour standards at Nike's suppliers. International Labour Review, 146:
21-40. https://doi.org/10.1111/j.1564-913X.2007.00003.x