Problem:
I need to address the below concerns as if I were the CFO of the organization but do not know where to begin. I just need a couple of sentences stating what the solutions should be.
You work for a company that designs and manufactures PCs. The R&D center is in North Dakota; the PCs are manufactured under contract in Taiwan. The marketing strategy is delegated to the heads of three regional groups located in Chicago (for North America), Paris (Europe) and Singapore (Asia). Each regional group develops its own regional marketing approach, reviewed by the V. P. of Sales/Marketing located in Los Angeles. In order of importance, the largest markets for your PCs are N. America, Germany, United Kingdom, the PRC, and Australia.
Your company is facing a major crisis. It is experiencing problems in its product development and commercialization processes. Products are late to market, the manufacturing quality is poor, costs are higher than projected, and market acceptance of new products is less than hoped for. The company is receiving hundreds of customer complaints and poor reviews in trade journals. Also, a major television network has informed the CEO that it is going to feature the company on an upcoming program. To complicate the situation, the CEO is out of town and has given decision authority to a group of four top managers. The four individuals must develop a get well plan within 48 hours that the CEO can use in briefing the company's stakeholders--stockholders, stock analysts, customers, employees and the media.