Absorptive Capacity and Project Performance †MyAssignmenthelp.com

Question: Discuss about the Absorptive Capacity and Project Performance. Answer: Introduction: Established in April 2012, Rover Automotive Canada has achieved accolades and glory by catering to the needs, demands and requirements of the stakeholders. Dedication, commitment and perseverance of 40 employees have bestowed a strong customer base for the company. Located in Springfield, Ontario, the company looks after engineering, design, assembly and sales of the automobiles, which has acted as an agent in expanding the scope and arena of the business (Landrover.ca 2017). Support and guidance from Rover Automotive International assists the company in manufacturing different types of automobiles for the North American customers. This has been possible through deals, trades and contracts. Starting the marketing operations in March 2013, the company achieved a sales revenue of $17 million. However, this success was short-lived, as the personnel were compelled to encounter a loss of $2.7 million. As per the data of 2014, the assets of the company valued up to $42.4 million and the liability value was $22.5 million. This calculation of the assets and liabilities included a debt of $18.7 million, which the company owes (Landrover.ca 2017). In order to secure the market position, guidance and support from Rover Automotive International is vital. Possession of a sound financial treasury helps Rover Automotive International to make the personnel of Rover Automotive Canada acquainted with the basic marketing tactics. However, this financial treasury is not without the risk assessment, the intensity of which ranges from medium to high. The company, in the past underwent many research and experiments to mould into the customers requirements. Typical examples in this direction are: manufacture of sedan; affordable subcompact cars; production of cars; which can fit into the big box stores in the shopping malls; increasing the size of the hockey equipments, so that it fits into the smaller vehicles (Charter 2017). The project of developing Next Generation Sports Utility Vehicle Canyonero Type F is a new kind of innovation the company. The budget estimated for the project is $15,685,000. The estimated date of completion of the project is September 1, 2022. The personnel started with the project on 1st September 2017 by taking into consideration the classy designs for giving tough competition to the contemporary automobile companies. The company has indulged in partnership with the Canadian University for collecting the possible designs and engineering methods (Hartley 2017). More specifically, 16 engineering interns would be assisting the manufacturers regarding the designs and placement of the spare parts of the car. The main objectives of the project are: To bring innovation in the materials and processes To make the car fuel efficient To make the car safe on highways in terms of performance To envision lesser smoke emission Springfield Ontario would bore 80% of the project cost. The rest 20% would come from the expenses of Shelbyville, USA. These specifications reflect an oriental approach of the company personnel towards making a widespread presence in the whole world (Popaitoon and Siengthai 2014). Recommendations Preparation of the action plan proves perfect in terms of making correct progress regarding the completion of the tasks within the stipulated deadline. Here, two to three evaluations are needed in order to review the effectiveness, appropriateness and feasibility of the plans in terms of the identified and the specified objectives. As a matter of specification, evaluation would bring to the forefront the major drawbacks, which pose as an obstacle in the execution of the constructed plans. Countering this, evaluations need to be conducted after the completion of two activities. However, this would be possible if the workers plan the activities according to the available time (Ruff 2015). Adopting social media marketing would be beneficial for the personnel of Rover Automotive Canada in terms of increasing the trafficking of the audience towards the brand image. Adhering to the IT legislations would reflect the consciousness of the personnel towards ensuring the wellbeing of the customers. Typical examples in this direction are the installation of security software for preventing the leakage of the contents generated by the customers. This activity would generate trust, loyalty and dependence on the customers for the company, which would itself expand the scope and arena of the company business (Landrover.ca 2017). Rover Automotive Canada personnel need to indulge in contracts, deals and trades with the shareholders. Using written form of contracts would help the company to avert encountering any illegal instances. This document, if sent to the Board of Directors, would keep them informed regarding the steps taken by the company personnel to execute the project related activities. Countering this, after the preparation of the plans, the draft could be sent to the Board for their signed approval (Zikmund et al. 2014). Until this time, moving on to the second round of activities would be haphazard and chaotic, as it would lead to negative results. Training is one of a beneficial recommendation, which can be proposed for Rover Automotive Canada. Training would enhance the preconceived skills, expertise and knowledge of the manufacturers and the engineers. As the interns from the Canadian university would be helping the engineers of the company, it would be fruitful in terms of enriching the clarity of the personnel in terms of applying the designs and assembling the spare parts of the cars. If the training are provided by the experts, it would yield positive results in the performance of the employees. Taking post-training tests would help the managers to assess the capability of the engineers and the manufacturers in terms of making practical usage of the learnt skills in executing the workplace activities (Babin and Zikmund 2015). Taking note of this performance would help the managers in appraising the performance of the employees in a proper manner. Review of the financial condition is important in terms of planning projects. As the company has taken the assistance of Rover Automotive International, hiring celebrities would act as a promotion for the project. This would enhance the brand image. However, in terms of advertising, the company needs to bear in mind the consumer ethics. This adherence would bestow a better placement upon the company, Rover Automobile Canada, in a competitive era (Landrover.ca 2017). References and Bibliography Babin, B.J. and Zikmund, W.G., 2015.Essentials of marketing research. Nelson Education. Charter, M. ed., 2017.Greener marketing: A responsible approach to business. Routledge. Cherubini, S., Iasevoli, G. and Michelini, L., 2015. Product-service systems in the electric car industry: critical success factors in marketing.Journal of Cleaner Production,97, pp.40-49. Hartley, J.R., 2017.Concurrent engineering: shortening lead times, raising quality, and lowering costs. Routledge. Landrover.ca (2017). About us. Available at: https://www.landrover.ca/en/index.html [Accessed on 29th October 2017] Popaitoon, S. and Siengthai, S., 2014. The moderating effect of human resource management practices on the relationship between knowledge absorptive capacity and project performance in project-oriented companies.International Journal of Project Management,32(6), pp.908-920. Ruff, F., 2015. The advanced role of corporate foresight in innovation and strategic managementReflections on practical experiences from the automotive industry.Technological Forecasting and Social Change,101, pp.37-48. Zikmund, W.G., D'Alessandro, S., Winzar, H., Lowe, B. and Babin, B., 2014.Marketing research. Cengage Learning Australia.