I have seen the Tera Tech alternatives from this website. However, I would like to know the optimal solution, including evaluation of alternatives, end state vision, risks and implementation of solution.
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Now, you asked for some help with the "optimal solution, including evaluation of alternatives, end state vision, risks and implementation of solution" for Tera Tech. Well, in order to see the problem, you must Frame the "Right" Problem. Identifying that problem can sometimes be confusing so it is important to eliminate distracting factors. Think of this like resolving an issue with an infant. The baby is crying. Why? Are they hungry? Dirty diaper? In pain? Deductive reasoning helps eliminate some of the clutter, but one of the best ways it to keep asking "How come" or "Why" until you can no longer answer those questions. Also, when framing the Problem Statement, make sure it defines the problem. With Tera Tech, it hopes to create stronger customer relationships, bring new products to market, and put the right people and tools in place so it can continue to grow (remember, according to Wendy Martin the team is lacking in some skill sets). This will help you see how I arrived at my findings for what you asked for. An example of this type of statement might look like this:
Tera Tech will achieve double digit growth and become the global CRM provider by developing and sustaining customer relationships, creating and marketing new products, and acquiring the skills to implement and facilitate innovative products to the Tera Tech's customers.
Knowing where you want to be is good. To do so, describe the "End-State" Vision. The dream state of an organization is a Utopian-type world where things run smoothly, the stakeholders are happy, and money grows on trees. Tera Tech wants its slice of the American Pie. To get it, it sees growth as the key.
Tera Tech's end state vision included double digit growth, retain customers, increase client base, increase customer satisfaction, and further establish itself as the industry leader in CRM solutions. The company can achieve this goal by forecasting current and future consumer needs, designing and implementing new products, and developing effective marketing plans to introduce those products.
Tera Tech has several alternative solutions available. The first is to do nothing. Tera Tech's customers are not happy with the current product, however, doing nothing means the company maintains status quo.
The company can address customer complaints by improving customer service practices. Customer complaints are a good tool if managed properly. By understanding and addressing concerns, Tera Tech could retain their customer base, improve their customer service and create customer loyalty. If they fail to address customer issues, Tera Tech risks losing customers and that directly impacts the growth potential through good and bad recommendations.
Forecasting customer needs is important because customers are the backbone of a company's profits. A company needs technology to help forecast customer needs. If it evaluates the customer purchase decision process before developing the product, Tera Tech can predict needs of customers and therefore develop their products to meet those needs.
Let's assume Tera Tech will do what is necessary to get information. Financially it would be a good ROI if it can turn around the negative customer feedback, strengthen loyalty, and generate new business. Now, let's say there is funding available and research shows areas for improvement and identifies the best practices... Tera Tech can turn it around in 24 months without losing more than 15% of business in the transition. On occasion loss is a good measurement. At first glance the customer survey results show it should lose more than just 25% of business... therefore anything less is good.
Tera Tech has several alternative solutions available. First, the company could choose to do nothing. Tera Tech's customers were dissatisfied with the product due to product ...
This solution explores optimal solutions, including evaluation of alternatives, end state vision, risk and implementation of solutions.