Entrepreneurial Planning Practical Overview:
A practical is a business situation that I have personally experienced in my professional career. You will be expected to give your solution to the practical in no more than 1000 words. You should write this paper as if it is an Executive Summary outlining your analysis of the situation and the solution you propose. Your paper should be typewritten, double-spaced, 12-point font, follow proper grammar and spelling guidelines. There is not necessarily one right answer. The objective is to get you to think with the learned knowledge; intuition combined with experience, hence your own tacit knowledge into the solution you provide.
You have successfully launched a rechargeable battery business called Charge, which is focused on the portable electronics marketplace. You have three different models of rechargeable battery solutions that focus on phones, tablets and laptop computers. The business has been going well and you have one full year of successful sales behind you. The business is starting to hear a drumbeat of criticism building from your existing customers and potential customers through your social platforms (Facebook, Twitter, Google+, etc.).
The product that you have developed has a small % of defective rates. There are a small number of instances where the product quality has let some customers down due to product malfunction or in a few instances caught on fire. The defect rate is less than 1% of total sales.
As this criticism begins to increase how do you handle it before it becomes viral? In other words, how do you make sure you get in front of it versus letting it build and drive the direction of your company?
As you successfully deal with this situation, build a strategy with an execution plan to include potential future situations?