60. A cell phone company is facing stiff competition in the market. Accordingly, the company's product manager is planning to manufacture a new model with certain new features to stay competitive in the market. But, the company does not have a skilled workforce that can help in manufacturing the desired product. What should the company's product manager do to carry out the production?
Answer: D
The product manager should focus on outsourcing the production.
Outsourcing the production allows the company to leverage external expertise and resources, which is crucial given the lack of a skilled workforce for manufacturing the new model with advanced features.
A) Focus on importing the new mobile phones
Importing new mobile phones does not address the need for manufacturing a new model internally. This option fails to utilize the company's potential to innovate and create a product tailored to market demands, instead relying on existing products from other manufacturers.
B) Focus on exporting the existing mobile phones
Exporting existing mobile phones does not provide a solution to the company's need for a new model with specific features. This option merely shifts the current inventory without addressing the competitive challenges faced in the market.
C) Focus on insourcing the production
Insourcing the production would require the company to develop its internal workforce, which is currently lacking in skills. This approach may lead to delays and increased costs, making it an impractical option in a competitive landscape where speed and innovation are critical.
D) Focus on outsourcing the production
Outsourcing the production enables the company to partner with external manufacturers who already possess the necessary skills and technology. This approach accelerates the production process and allows the company to introduce its new model to the market more efficiently.
Conclusion
Outsourcing the production is the most effective strategy for the company to remain competitive, as it directly addresses the skills gap in the workforce. In contrast, importing, exporting, and insourcing do not fulfill the immediate need for skilled manufacturing capabilities and could hinder the company's ability to innovate and respond to market demands.