I need support with this Management question so I can learn better.
There are couple of responses posted below . Please read both of them and give your opinion on them separately.
Read Response-1 and Response-2 below and give your opinion on both responses separately. your answer should be supported with research unless the question is opinion oriented.. Responses to discussions below should not be “I agree” or “I like the way you stated that.” These responses should again be insightful, offering an opinion or facts based on your research and experiences. The opinion to both responses should be a minimum of 200 words each . See APA criteria for citing resources.
The below responses are of individuals who did case study “To Bid or Not to Bid” on page 1011 and then answer the questions on page 1012.
“text book attached “
1. What other factors should Marvin and his team consider?
In order to make the bid/no-bid decision, Marvin and his team should consider the following factors:
– Capability- From the case study, we know that if Marvin bids, then there will be higher overall profits and earnings per share because of the more extensive business base. This means that he can make some money on the project. After determining the profitability factor, Marvin and team should consider the capability, which means that if their company is capable of doing work. They should review there a current backlog of any upcoming project. They should consider human resources, equipment, staff, and other resources so they would be able to complete the project within the required timeline. Additionally, Marvin and his team should consider about their company’s financial capability. They should consider if they have bonding capacity and adequate cash flow to perform the work.
2. Should they bid on the job?
– In order to determine whether to bid or no-bid, one should undertake a formal and rational process. After looking at the pros and cons, my recommendations would be that Marvin and his team should not bid because bidding will release the company’s cost structure which can keep the company in higher risk in front of its competitors. The threat of losing talented employees would cost them more than the long-term profit. More importantly, the risk of exposing the entire cost structure may cause them to lose in future bids. If Marvin and its team are afraid to say NO or to be removed from bidders list for future, they should be aware of the damages. I would instead suggest the team to opt-out of the contract by making a well- written no-bid letter rather than submitting a proposal which will bring the company internal secrets to public and thus jeopardizing the company’s reputation.
Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. John Wiley & Sons.
Jones, K. (2019, February 08). Key Factors to Consider in Bid/No-Bid Decision Making. Retrieved July 8, 2019, from https://www.constructconnect.com/blog/operating-in…
1) What are the other factors should Marvin and his team consider?
Alternate elements Marvin and his group ought to consider are as below
Financial capacity of the organization
Effect on survival of the organization
Will it be a development way for the organization?
Vital arrangement of the choice for the organization
Reliance and need of the offer for the organization
Circumstances and end results for the offer.
Long haul effects to the organization?
Can organization oversee without this venture?
Will organization have the capacity to deal with its effect later?
Essentially this elements takes right choice for the organization to offer or not offer. This choice will be founded on investigation of all the key elements, which can have critical effect on the organization. In light of the examination and result of effects on the organization, the correct choice will be taken.
2) Should They Bid The Job?
Yes, They should offer at work.
The purposes behind this are as below
The offer is exceptionally alluring and can assist the organization with surviving for a long span around 10years of time. This is such an extraordinary day and age for which the organization will be secure for income age.
This undertaking will give a stage to the organization to accomplish higher development in future.
This task will have the capacity to build up the positive picture of the organization in the market.
Great choice for future improvement by getting extra comparable activities.
Organization to investigate the approaches to deal with the effects because of offer of key informations.
Enshassi, A., Mohamed, S., & Karriri, A. a. E. (2010). Factors affecting the bid/no bid decision in the Palestinian construction industry Journal of Financial Management of Property and Construction, 15 (2 ), 118 – 142
El-Mashaleh, M. S. (2010). Decision to bid or not to bid: a data envelopment analysis approach. [Article]. Canadian Journal of Civil Engineering, 37(1), 37-44.