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Steel Belt Corporation-staying alive When Richard Preston drove into work, a sick feeling of dread gnawed at his stomach. The morning paper had a front page article on Steebelt Corporation, the company where he had been working for the past 38 months. It was more bad news-a fiery crash that killed a young couple and their two children. The article said that a Steelbelt-500 tire on the crashed vehicle had failed. The journalist rehashed details from four other recent accidents involving Steelbelt tires it raised questions about the quality of Statbelt-500 tires, the same modes that was manufactured at the plant where Richard worked. Now customers were afraid to buy Steelbelt's tires. Another article in the business section told of shareholders who were irate over a 50 percent drop in the value of the company's stock over the past two months Rumors of layoffs and cost-cutting were circulating among Richard's co-workers. Two of Steelbelt's biggest customers were threatening to tear up their contracts to put the company's tires on 30 percent of their vehicles manufactured in North America and Europe. Steelbelt Corporation had been in business for more than 50 years and had grown from a single plant in Detroit to a multinational company. Richard had joined Steelbelt's internship program at the company's flagship plant right after completing his MBA He had enjoyed his stints in production, purchasing, and finance Sometimes, at lunch, he would hang out at the company's test track, watching the drivers and researchers from the lab. Richard loved working for Steelbelt-he loved the people, he loved the products, he loved the pioneering atmosphere How could things have gone so terribly wrong? If you are Richard Preston, how can you handle this situation? What will you da for the corporation to survive this turmoil?What are the external factors you can point out in the case which affects a firm's environment?​

Sagot :

annyksl

Richard Preston's company could solve its problems by reviewing its products and modifying the forms of production, inspection and control.

Therefore, the above questions can be answered as follows:

  • Things in the company went wrong because a small percentage of the products are passing the quality test, even without the necessary quality. These products produced very negative results, which damaged the company's reputation and diminished its market value.

  • To deal with this situation, Richard Preston might suggest that a meeting be held to structure changes in the quality control sector, strengthening oversight of products.

  • Richard can also suggest carrying out a recall, where all products that were sold with the Steelbelt-500 return to the factory, to have this product inspected and even replaced. It may also suggest that the Steelbelt-500 be taken out of circulation and replaced with a higher quality and safety device. This would help boost the company's reputation as it would show that it cares about customers.

  • The external factors that affected the company's environment were: Media exposure, occurrence of accidents, conflicts between shareholders, decrease in demand, decrease in the company's reputation.

You can find more information at the link below:

https://brainly.com/question/17351764?referrer=searchResults

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