Answer
a. Innovation;
b. Cost and efficiency and quality;
c. Time;
d. Time and cost and efficiency;
e. Cost and efficiency
Work Step by Step
a. Develop a hybrid engine (Innovation) to stay ahead of competitors
b. Increase training hours of assembly-line personnel to decrease the currently high volumes of scrap and waste. (Cost -> efficiency _> quality increase)
c. Reduce lead times in order to increase customer retention. (Time)
d. Negotiate faster response times (Time) with direct material suppliers to allow for lower material(Cost) inventory levels (Efficiency)
e. Benchmark the company’s gross margin percentages against its major competitors (Cost and efficiency)
