Question: Key success factors. Dominion Consulting has issued a report recommending changes for its newest manufacturing client, Gibson Engine Works. Gibson currently manufactures a single product, which is sold and distributed nationally. The report contains the following suggestions for enhancing business performance:
a. Develop a rechargeable electric engine to stay ahead of competitors.
b. Adopt a TQM philosophy to reduce waste and defects to near zero.
c. Reduce lead times (time from customer order of product to customer receipt of product) by 20% in order to increase customer retention.
d. Negotiate faster response times with direct material suppliers to allow for lower material inventory levels.
e. Benchmark the company's gross margin percentages against its major competitors. Link each of these changes to the key success factors that are important to managers.