Management Strategy Essay Example | Topics and Well Written Essays - 750 words

Management Strategy - Essay Example This advancement in technology was based on advanced physics principle than simple electro mechanic as the new equipment relied more on microprocessor-based controls than on electromechanical relays and switches. Following the fact that Lincoln has enjoyed the monotony of owning the laser technology for a long time, the company could use this kind of technology to make productions and sales at the expense of other new companies, hence staying ahead of competition. This gave Lincoln their success that any other company did not have as the bars were highly raised for others to pursue. 2. Lincoln electrical, in its endeavors to pursue laser technologies, had no alternative than to master the laser technology/it had to allow some of the equipment to go extremely custom made so as to be able to perform extremely fine tolerances. To be able to a chieve such equipment, Lincoln electrical would have to part with too much money as this equipment was costing considerably too expensive than was any such equipment in the same industry. Therefore, Lincoln electrical had no choice than to master the laser technology and develop a line of products built on it. The implication of this would mean that, Lincoln must have enough expertise in both human resource and resources allocation so as to be able to master the laser technology in its full application. This would mean that, this company would have to look for both the required funds and resources to be able to facilitate this kind of new technology upgrade which would enable them to raise their annual sales as required. The company was then faced with a tough financial conditions as its required financial outlays were unattainable. This was because the firm had to do a thorough research and development in the line of five products, a process that would cost between 5-15 million dollars.