Develope a value chain from $6$ to $8$ items for Trend Lighting Corporation and why would the value chain useful for a firm like Trend?

Trend Lighting Corporation has been manufacturing high$-$quality home lighting systems for

more than $80$ years. The company's first products in the $1920$s$-$the classic line$-$were high$-$

quality floor lamps and table lamps made of the highest$-$quality materials with features that

other manufacturers did not attempt: multiple switches, adjustable heights, and stained glass.

In the $1950$s and $1960$s$,$ the company introduced a number of new products that were in

demand at the time, including track lighting and lava lamps, which became the company's

Modern line. In keeping with its brand image, Trend ensured that these new products also met

the highest standards of quality in the industry. A new customer style emerged in the $1960$s

and $1970$s$,$ which resulted in another new line of products, contemporary. It was followed in

more recent years by two new product lines, Margaret Stewart and Western.

Jess Jones, the company's chief financial officer, had become concerned about the

performance of some of the product lines in recent years. Although total sales were growing at

an acceptable rate, approximately $10$ percent per year, the sales mix was changing

significantly, as shown in the following product line sales report. Jess was particularly

concerned about the Classic line because of its sharp drop in sales and its high costs.

Because of the high level of craftsmanship required for the Classic line, it always had higher

than average costs for labor and materials. Furthermore, attracting and retaining the highly

skilled workers necessary for this product line were becoming more and more difficult. The

workers in the Classic line in $2019$ were likely to be older and very loyal employees who were

paid well because of their skill and seniority$.$ These workers displayed the highest level of

workmanship in the company and, some would argue, in the entire industry. Few newer

employees seemed eager to learn the skills required in this product line.

Moreover, manufacturing capacity was experiencing an increasing strain. The sharper than

expected increase in sales for the Western styles had created a backlog of orders for them,

and plant managers had been scrambling to find the plant capacity to meet the demand. Some

plant supervisors suggested shutting down the Classic line to make capacity for the Western

line. Some managers of the Margaret Stewart line argued the same thing. However,

eliminating the Classic line would make obsolete about $$233,000$ worth of raw materials

inventory that is used only in the manufacture of Classic line products.

Tom Richter, the firm's sales manager, acknowledged that sales of the Classic line were

more and more difficult to find and that demand for the new styles was increasing. He also

noted that the sales of these products reflected significant regional differences. The Western

line was popular in the south and west, and the Contemporary, Modern, and Stewart styles

were popular nationally. The Classic line tended to have strong support only in the northeast

states. In some sales districts in these states, Classic sales represent a relatively high

proportion of total sales.

Kelly Arnold, the firm's CEO, is aware of these concerns and has decided to set up a task

force to consider the firm's options and strateav regardina these problems.

Required:

$1.$ What is the one best competitive strategy for Trend Corporation?

a$)$ Cost leadership because of increased competition

b$)$ Differentiation because of innovation

c$)$ Differentiation because of unique products and high quality

d$)$ Cost leadership because of cost pressures in the industry

$2.$ What is the one best recommendation would you make to the task force?

a$)$ Delete the classic line for the cost savings

b$)$ Continue the classic line because it supports the company's strategy

c$)$ Delete the classic line because of its poor sales performance

d$)$ Continue the classic line to save costs

$3.$ Briefly explain your answers to parts $1$ and $2$ above.

$4.$ Develop a SWOT analysis for Trend Corporation. The analysis should include two to three items in each category: strengths, weaknesses, opportunities, and threats.

$5.$ Develop a value chain of six to eight items for Trend Corporation. Why would the value chain be useful to a firm like Trend?

$6.$ Develop a balanced scorecard with three or more groups of CSFs for Trend Corporation. Explain your choice of groups and identify three to four CSFs in each group. Make sure that your CSFs are quantitative and can be measured.

$7.$ Based on your analysis of Trend Manufacturing Company, create a strategy map for the company.