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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Wk2 Discussion

Wk2 Discussion

Q Question: Respond to the following in a minimum of 175 words: Managers and their teams must continue to apply ingenuity to freshen work processes and innovation in order to energize marketing strategies. Review Case Study 3, “A. Monroe Lock and Security Systems,” which you can access in the Wk 2 Learning Activities folder. As Ray Monroe has discovered in the case study, despite his best efforts, competitors remain one step ahead. Ray appears to be running out of time and ideas. After reviewing this week's assigned reading, what are some possible ideas to help reinvigorate Ray and his team? Note: Case studies are located in the last section “Part 6: Cases” in the course textbook.

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Ray Monroe founded the A Monroe Lock and Security System 2 years ago and offered locksmith services to residential and commercial customers as well as to the automobile owners (Hisrich, 1990). The company gave services like lock rekeying, lock and deadbolt installation and master key system (Hisrich, 1990). Initially the locksmith industry was dominated by the small operators, 60 percent of which consisted of an owner and one employee (Hisrich, 1990). Only 20 percent of these firms had 5-6 employees (Hisrich, 1990). Due to the low entry barriers, the number of small operators had grown dramatically in the past few years. In Boston around 160 members were applying for this job and at that time ALMSS were constructed (Hisrich, 1990). Excluding alarm system the company offered only locksmith service (Hisrich, 1990). But for the past few years Ray the founder of the company have decided that he would advertise in yellow pages. He felt that with all the locksmith listed on the yellow pages would actually keep his company at the top but that did not happen (Hisrich, 1990). Eventually he thought that his competitors have grabbed the yellow pages and pushing his company to the bottom. I think there are few things that can help the company to rise up again (Hisrich, 1990).