Month/Year of Graduation
Dr. Brent B Clark
Strategy is important for every industry, and to succeed in such a competitive industry as the technology industry, it becomes imperative. Micron Technology, Inc. (“Micron”) is one of the companies in the technology industry that must have a strategic plan such as this. The best strategy for Micron was analyzed through a detailed background on the history of the company, the main problem that is currently found in the industry, the current internal position of the company in relation to the strengths and weaknesses of the company, an external analysis of the operating industry, and finally a recommendation and implementation plan for the company.
The semiconductor industry is currently faced with the problem of high competition and shrinking profit margins. Micron specifically has great management to guide it through this industry. Using that core competency and the detailed analysis of the industry, the proposed recommendation is to increase spending on research and development and related expenses in order to improve processes used to produce the memory and storage technology that Micron creates. This can be completed through a 10% minimum spending requirement set, and a plan to improve recruiting and facilities in the future. This recommendation solves the problem of competition for lower margins by improving efficiency in the processes used to create the product. The recommendation will also allow Micron to offer lower prices to customers with the lower internal costs associated with selling the product.
Rice, Rachel, "Micron: Changes for Continued Success" (2018). Theses/Capstones/Creative Projects. 5.