Introduction
The first quarter of the 21st century is almost elapsing and our prognostications about the coming days are being recognized. Nowhere in history, have people’s forecasts been more positive than in our deliberations of international competitiveness. Competitiveness is by characterization, intricately connected to globalization, since it is appraised for nations in an international framework.
While the yardstick for nationalized gung ho lead would be other nations, firm-level competitiveness is appraised in the framework of competitors in an international industry. (Hitt 36) Indeed, our firm (Eagle Communications) has taken in to consideration this aspect in its bid to produce micro cameras that will revolutionize the way security is perceived in the world.
When the idea of Eagle Communications was conceived a few months ago, we were concerned about the high price of producing and purchasing a micro camera in the market.
Moved by a desire to produce and market a product that would not only be affordable but environmentally friendly, our technical team embarked on a mission to come up with a model that was both unique and affordable. (Shaker)After six months of research, our technical team came up with a model that is unique in its own way. In order to reduce the price of producing the device, we used recycled materials, which virtually reduced the production cost by almost half.
This is bound to reduce the price of the device in the market thus making it more available. Unlike the micro cameras currently available in the market, our model has an alarm code that can be used to send a quick SOS message. This means that unlike in the past, one does not need to hire an all around the clock professional to monitor the cameras transmissions.
Currently, the price of producing a minute camera is about $1,000. This hikes the prices of the commodity making it available only to the very rich. In fact, these devices are only appealing to corporate clients who buy them as a matter of duty and not necessity.
In designing this device, our team understood that security was a matter of concern not only to the very rich but also to ordinary people in the society. Currently, the cost of producing one camera in our lab is about $670, which is almost half the price spent by other firms. Up to date, our firm has spent close to $50,000 and we intend to have recovered this amount in our first month of operation.
With insecurity having become rampant in our society, the need for tracking devices has become a necessity for everyone. This minute camera is expected to enhance security in the society especially in developing countries. Given the high prices that the current cameras are being sold and considering our prices, we highly believe that this venture is worth the risk.
We are currently in the process of setting up regional offices in strategic Africa and Asian cities to facilitate trade in those countries. With the internet having transformed the way business is done, we have already begun advertising our products in the social media and we are already getting positive responses. (Shaker)
Conclusion
Researchers and policymakers have envisaged that the future overall economy will be consumerist based and environmentally responsive. When trying to design a new product, it is always important to consider the price of production and marketing to ensure that it is a worthy venture. On top of this, the venture must be realistic, profitable and above all, it should be ideal for the society. In order to stay on top of your competitors, it is always advisable to take note of technological advancements within the industry.
Works Cited
Hitt, Michael. Strategic Management: Competitiveness and Globalization: Concepts, 2006. Nelson Education Limited, 36. Print.
Shaker, Zahra. Competitiveness in the 21st Century: reflections on the Growing Debate about Globalization, 2011. Web. <https://www.allbusiness.com/>