Reference no: EM133464714

Question

Imagine you've taken on the role of a manager at an engineering company. You've been approached by a supplier of goods-one you haven't worked with before. The supplier shows you the new software package it is launching in a few months, and it piques your interest. The demo of the new technology shows you how it could really help your team design and develop projects faster. It also includes many add-ons for items that your company is not currently working on, but that your intuition says it should be.

The supplier's study says that 90 percent of your industry will be transitioning to this new technology in a couple of years, and that if your company doesn't move forward with it, you will fall behind. You are eager to grow revenue, develop your team, and wow your clients. The supplier says it is not making the new technology available to your competitors because it would prefer to partner with a prestigious company like yours. You think the supplier's representative is knowledgeable about the new technology and your industry, and you enjoy the conversations you've had, but you still feel uneasy about making a decision on whether to partner with this new supplier.

1. What research steps need to take place before you can make a decision?

2. How would you use qualitative or quantitative data to help you make a decision? Explain the difference between these two methods.

3. How would you use primary and secondary sources to support your decision? Explain the difference between these two source types.