Luxor Case Study Assignment

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School

Michigan State University *

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Course

TCM701

Subject

Marketing

Date

Jan 9, 2024

Type

docx

Pages

Uploaded by GrandIron10026

Question 1 Answer Certainly, the consequences of a single risk event—like a technical risk event—can lead to new hazards. Luxor may face risks associated with dependence on external vendors, potential delays, and loss of control over crucial parts of technology if it chooses to outsource technical development, as recommended in the list. Because risk events are often interconnected, decisions made in one part of the business may have a cascading effect on other sectors. Question 2 Answer The list that marketing has presented mostly illustrates the possible effects of switching from being a market leader to a market follower. In the event that Luxor chooses to change course, it describes the potential repercussions and difficulties. The things on the list suggest possible drawbacks if Luxor chooses a follower strategy, even though it doesn't state probability specifically. Question 3 Answer We can use luxor's internal capabilities, industry trends, and market dynamics are taken into consideration while assigning probabilities to the marketing list. This process comprises determining the possibility that each item will occur. If there is enough data available, probability estimates may be quantitative or qualitative (low, medium, or high). To estimate the likelihood of each of the listed consequences, marketing and management would need to have conversations and maybe consult other Question 4 Answer The engineering department has produced a list of techniques that might be used to reduce the risks that come with the possibility of losing technical leadership. Rather than taking or avoiding the risks, these solutions entail proactively managing the latter. Therefore, by taking steps to decrease the impact or probability of the identified risks, the organization would be adopting a risk response style of risk reduction. Question 5 Answer The decision is complex and requires a careful evaluation of long-term goals, risk tolerance, and market dynamics. Luxor might err on the side of engineering's recommendations if it prioritizes retaining technological leadership and is confident in its capacity to solve the difficulties. However, Luxor may take marketing's advice into consideration if it is worried about the short- term dangers and wants a more flexible strategy. Finally, Luxor needs to carefully weigh all of the options, the benefits and drawbacks of each decision, and select a course of action that is in line with its overall business plan.. To strike a balance between immediate obstacles and long- term objectives, this may entail combining several tactics.

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