Executive Summary

Executive Summary AcuScan

AcuScan over the last ten years has been a leader in technology. AcuScan created a retinal scanning security device which is known as the Iscanner. However today profits and shares of the market are dropping and the company must look to a different direction and tap into other markets with their product. To add to the challenges of creating new products into new markets, profits are down and the CEO is requesting that all departments except for Sales and marketing cut their budgets by 15%. This summary will help design a plan of action to help AcuScan develop new products and move into new markets which will increase their profit margins and make them a leader in their expertise.

Revenue for AcuScan used to be 50/50 when it came to sales and service of existing products. However, today service makes up about 70% of AcuScan’s revenue which is a very low profit margin. To go along with that issue, the CEO is requesting that the majority of departments cut their budget. Chris the VP of of Product Development is overseeing the budget cuts. He hopes and expects that there will be no layoffs associated with the budget cuts. Chris and Pat, the Director of Marketing would like to tap into other markets by utilizing the existing product they already have. Pat, and Chris’ idea is to tap into the retail market by utilizing their security retinal scanning hardware and software. The hopes of providing this to business owners would be able to have the equipment available at their stores for scanning purposes which will provide data about the customer’s needs and wants.

The biggest issue that needs to be addressed is that Pat, the marketing Director and Kelly the Senior Engineer for product Development are having a hard time communicating and overseeing this project. Kelly feels that Pat went behind his back when she asked employees underneath him if this project could be done by utilizing the current product that is already in place....