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Answer & Explanation:Deliverable Length:   1,200–2,000 words, including research in essay formatLester Scholl’s administrative assistant calls you on Monday afternoon to set up a conference call between you and the chairman tomorrow morning to discuss the board’s reaction to your list and to discuss your next task. You call the number she gave you, and Lester joins the call shortly after.”I’m pleased with your work,” he says. The board was impressed with your list of factors. Your ranking made sense because your explanations were well-written. I suspect they read everything you sent because it was concise and clear. Good job.””Thanks,” you say, and you feel relieved that your first assignment was well-received. “Your list provided the basis for a good conversation about the manufacturing operations,” he says. “We want to know more about the economy of both countries to further inform our decision-making process.” “That makes sense,” you say. “The United States and South Korea hold many distinct economic factors that may affect AutoEdge’s long-term financial performance.” “Right,” he says. “Your research on the two economies will give the board enough information so we can advise the new, incoming CEO.” “What should my research include?” you ask.”In your research, you must take into consideration several macroeconomic factors,” he says. “We want to see information about the gross domestic product (GDP), unemployment, interest rates, and inflation for both the United States and South Korea. Make sure your research is current; that is, no more than 6 months old.” “I’ll get started right away,” you say.”Very good,” he says. “Let me know if you have any questions, and I’ll put you in touch with some of the other members of the board if I can’t provide the answers you need.””Great,” you say. “Thank you.”
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Problem-Based Learning (PBL) Scenario: AutoEdge
AutoEdge is a leading national automotive supply company located in Detroit,
Michigan. Founded by Jonathan McAlister in 1976, the company specializes in
engines and transmission parts and has been supplying products to the three
largest U.S.-based automakers for over 30 years. AutoEdge’s name is known
by customers and leaders in the automotive industry for quality,
dependability, and reliable products. In fact, despite the extra cost that is
added to the automobiles, consumers appreciate the AutoEdge brand name
and often make purchases because of it.
In 2005, AutoEdge’s board of directors decided that the company needed to
make some drastic changes because of the high cost of labor, rigid American
regulations, and increased competition from other engine and transmission
part suppliers. Their solution was to gradually close all manufacturing
operations in Detroit and begin outsourcing to a well-known factory in South
Korea. The board reasoned that this change would allow the company to
compete with the growing industry, meet the automotive manufacturing
demands, and increase company profits. Some board members were skeptical
about the move, however, because AutoEdge had built a reputation for highquality, detailed craftsmanship, and they feared that transitioning the
manufacturing operations overseas would cause quality to diminish.
For the next 5 years, this strategy proved successful. The company showed
signs of financial growth and company profit.
However, in 2010, the company was found guilty of supplying products that
failed quality tests. As a result, millions of automobiles had to be recalled. The
recall was highly publicized, and the issue of poor quality products impacted
negatively on American automotive companies. AutoEdge’s $51 per-share
stock has fallen to $4 per share, and brand acceptance has come under
scrutiny among even its most loyal customers. Although some economists
blame these negative effects on the products, others believe that it had to do
with the termination of AutoEdge’s Chief Executive Officer, Fred McFadden.
Lester Scholl, Chairman of the Board of Directors, has called an emergency
meeting to discuss AutoEdge’s short-term and long-term strategies. Among
other things, they need to discuss the possibility of continuing production
overseas or returning it to the United States. Lester and others on the board
are well-known for being financially conservative and risk-averse. Because
the American economy is experiencing high unemployment, low interest
rates, low GDP, and low inflation, it might be sensible to make the change. To
some extent, they believe that these macroeconomic factors can be used to
their advantage. They realize the immediate challenges such as the brand
damage, the growing competition, and the financial challenges the company is
facing require immediate action. A new strategy must be formulated quickly
to save the company from bankruptcy.
You have been hired by AutoEdge’s board of directors as a research analyst.
Primarily, your job is to list and describe some of the legal, cultural, financial,
and economic factors that AutoEdge needs to consider when deciding to
either stay in South Korea or return to the United States. Because Fred
McFadden was recently terminated, you will work directly with the board
until a new CEO is named.
…
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