Decision Criteria Cost- Effectiveness Market Profitability Service Level Usage Behavior Information Sources and Influence SCORE: Weight 30% 10% 20% ALTERNATIVE RANKING 20% 20% 100% WACA 1 Rate Score 2 2 3 3 3 نيا 3 0.6 0.2 0.6 0.6 0.6 2.6 WACA 2 Rate Score 3 4 2 5 0.9 2 0.4 0.4 1 WACA 3 3.3 Rate Score 3 0.6 3 دیا 4 4 بيا 10 5 1 0.9 0.4 0.8 0.6 1 3.7 WACA 4 Rate Score 3 4 4 3 3 2 0.9 0.4 0.8 0.6 0.6 3.3 IV. Workable Alternative Courses of Action WACA 1: Advantages: Disadvantages: WACA 2: Advantages: Disadvantages: WACA 3: Advantages: Disadvantages: Expanding the Invention Quest Staples may expand the reach and scope of the Invention Quest to attract a wider range of inventors to gather a more extensive pool of innovative ideas. Expanding the Invention Quest reach and scope may increase the chance of failure, which may result in financial losses or harm to the reputation of the company. Providing mentorship and resources Providing mentorship and resources to finalists and winners is that it significantly boosts their chances of successfully developing and commercializing their inventions. Offering mentorship and resources to finalists and winners is the potential for overwhelming inventors with too much guidance and stifling their creative autonomy. Partnering with inventors Staples can explore partnerships with inventors for long-term collaboration. This can include ongoing product development, exclusive product launches, and shared marketing efforts. Engaging in partnerships with inventors for continuous product development and exclusive launches necessitates a substantial investment of resources, including both time and financial resources. Staples may be required to allocate funds into research and WACA 4: Advantages: Disadvantages: development, marketing initiatives, and inventor assistance, all of which might incur significant costs. Expanding the product line Staples may get a competitive advantage in the market by creating and promoting unique and inventive items. Staples may attract and keep consumers, and even increase their market share, by delivering distinctive and highly sought-after products. This distinction might result in higher sales and foster customer loyalty to the brand. Creating groundbreaking goods might incur significant costs, with little assurance achieving desired outcomes. If a product fails to achieve satisfactory performance in the market, it might lead to financial losses. Additionally, competitors may react by introducing their own inventive items, therefore intensifying rivalry, and perhaps sparking pricing conflicts.

Decision Criteria Cost- Effectiveness Market Profitability Service Level Usage Behavior Information Sources and Influence SCORE: Weight 30% 10% 20% ALTERNATIVE RANKING 20% 20% 100% WACA 1 Rate Score 2 2 3 3 3 نيا 3 0.6 0.2 0.6 0.6 0.6 2.6 WACA 2 Rate Score 3 4 2 5 0.9 2 0.4 0.4 1 WACA 3 3.3 Rate Score 3 0.6 3 دیا 4 4 بيا 10 5 1 0.9 0.4 0.8 0.6 1 3.7 WACA 4 Rate Score 3 4 4 3 3 2 0.9 0.4 0.8 0.6 0.6 3.3 IV. Workable Alternative Courses of Action WACA 1: Advantages: Disadvantages: WACA 2: Advantages: Disadvantages: WACA 3: Advantages: Disadvantages: Expanding the Invention Quest Staples may expand the reach and scope of the Invention Quest to attract a wider range of inventors to gather a more extensive pool of innovative ideas. Expanding the Invention Quest reach and scope may increase the chance of failure, which may result in financial losses or harm to the reputation of the company. Providing mentorship and resources Providing mentorship and resources to finalists and winners is that it significantly boosts their chances of successfully developing and commercializing their inventions. Offering mentorship and resources to finalists and winners is the potential for overwhelming inventors with too much guidance and stifling their creative autonomy. Partnering with inventors Staples can explore partnerships with inventors for long-term collaboration. This can include ongoing product development, exclusive product launches, and shared marketing efforts. Engaging in partnerships with inventors for continuous product development and exclusive launches necessitates a substantial investment of resources, including both time and financial resources. Staples may be required to allocate funds into research and WACA 4: Advantages: Disadvantages: development, marketing initiatives, and inventor assistance, all of which might incur significant costs. Expanding the product line Staples may get a competitive advantage in the market by creating and promoting unique and inventive items. Staples may attract and keep consumers, and even increase their market share, by delivering distinctive and highly sought-after products. This distinction might result in higher sales and foster customer loyalty to the brand. Creating groundbreaking goods might incur significant costs, with little assurance achieving desired outcomes. If a product fails to achieve satisfactory performance in the market, it might lead to financial losses. Additionally, competitors may react by introducing their own inventive items, therefore intensifying rivalry, and perhaps sparking pricing conflicts.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Related questions

Question

The photos attached are Workable Alternative Courses of Action and their evaluation in the table, kindly create a conclusion regarding these WACA's and their evaluation, make it short and straight to the point.

Decision Criteria
Cost- Effectiveness
Market Profitability
Service Level
Usage Behavior
Information Sources and
Influence
SCORE:
Weight
30%
10%
20%
ALTERNATIVE RANKING
20%
20%
100%
WACA 1
Rate Score
2
2
3
3
3
نيا
3
0.6
0.2
0.6
0.6
0.6
2.6
WACA 2
Rate Score
3
4
2
5
0.9
2
0.4
0.4
1
WACA 3
3.3
Rate Score
3 0.6 3
دیا
4
4
بيا
10
5
1
0.9
0.4
0.8
0.6
1
3.7
WACA 4
Rate Score
3
4
4
3
3
2
0.9
0.4
0.8
0.6
0.6
3.3

Transcribed Image Text:IV. Workable Alternative Courses of Action WACA 1: Advantages: Disadvantages: WACA 2: Advantages: Disadvantages: WACA 3: Advantages: Disadvantages: Expanding the Invention Quest Staples may expand the reach and scope of the Invention Quest to attract a wider range of inventors to gather a more extensive pool of innovative ideas. Expanding the Invention Quest reach and scope may increase the chance of failure, which may result in financial losses or harm to the reputation of the company. Providing mentorship and resources Providing mentorship and resources to finalists and winners is that it significantly boosts their chances of successfully developing and commercializing their inventions. Offering mentorship and resources to finalists and winners is the potential for overwhelming inventors with too much guidance and stifling their creative autonomy. Partnering with inventors Staples can explore partnerships with inventors for long-term collaboration. This can include ongoing product development, exclusive product launches, and shared marketing efforts. Engaging in partnerships with inventors for continuous product development and exclusive launches necessitates a substantial investment of resources, including both time and financial resources. Staples may be required to allocate funds into research and WACA 4: Advantages: Disadvantages: development, marketing initiatives, and inventor assistance, all of which might incur significant costs. Expanding the product line Staples may get a competitive advantage in the market by creating and promoting unique and inventive items. Staples may attract and keep consumers, and even increase their market share, by delivering distinctive and highly sought-after products. This distinction might result in higher sales and foster customer loyalty to the brand. Creating groundbreaking goods might incur significant costs, with little assurance achieving desired outcomes. If a product fails to achieve satisfactory performance in the market, it might lead to financial losses. Additionally, competitors may react by introducing their own inventive items, therefore intensifying rivalry, and perhaps sparking pricing conflicts.

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