MBA 580 Milestone 1

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Southern New Hampshire University *

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580

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Business

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Jan 9, 2024

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NEW TECHNOLOGY THE INTERNET OF THINGS Michael Smith MBA 580 Professor Paul Markham 12/26/23
ABOUT US At RAM we have been in the business of vehicles as long as Ford, Chrysler, and Dodge. We have seen competitors come and go such as Pontiac, AMC, and Auburn Automobile Company to name a few. The ability to adapt and listen to our customers are allowed us to evolve and meet their demands. We are now at critical crossroads with a changing market and new emerging technologies. We have a few options and the decisions we make will allow us to continue to compete or be left behind. 2 Source (Mudit-Thapliyal, 2022)
PROBLEM / SOLUTION 3 The problem RAM is facing is do we evolve the current product lines by adding features incrementally into our broader product line or do we design a completely new product line, based on new technology. If we evolve the current product lines by adding features incrementally into our broader product line, some examples would be as follow: Back up cameras and Front cameras to help keep the vehicle between the lines Apple Car play and Google car play are common ways to connect your cellphone to your call. Vehicles have advanced sensors and computers which measure items such as oil pressure, transmission temperature, and tire pressure Currently, a vehicle as 50-100 sensors, and it is expected to grow to over 200 over the next few years. The need exists to help make the product stand out and can lead to improved driving conditions on the road. Consumers can take advantage of insurance breaks as well as take advantage of features they see value in to use during their daily commutes (Tyler, 2016).
PROBLEM / SOLUTION Self Driving vehicles and apps New product ideas THE RAM COMPANY HAS A SECOND SOLUTION OR OPTION DESIGN A COMPLETELY NEW PRODUCT LINE, BASED ON NEW TECHNOLOGY. HERE ARE SOME EXAMPLES OF COMPLETELY NEW PRODUCT LINE: VEHICLES HAVING THE ABILITY TO SELF PARK VEHICLES BEING FULLY AUTONOMOUS SELF DRIVING APPS WHICH MONITOR AND CONTROL ALL PARTS OF ASPECTS OF THE VEHICLES 4 Source: ( Macleans.ca, 2019)
RISK Option A: incremental innovation Risk Being left behind in the market not seen as cutting edge Not choosing the right features to include in the vehicle New technology gets patented, and our company owns no patents and is unable to evolve 5 Source: Bajaj, R., Rao, M., & Agrawal, H. (2018).
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