Advent Case Study

Advent was founded by Henry Kloss, an entrepreneur with previous business experience in consumer electronics. Much of Advent's success can be traced directly to Kloss' reputation in the market and his personal guidance of Advent (this is true of the companies which he formed and then left in the past, as well). Advent does not participate in much market research, nor does it actively pursue research and development activities for their own sakes. Instead, the company notes what its competitors are doing in the market and finds ways to produce similar products (perhaps taking them a step further) and do so at a lower price. In one case, the company realized that a product manufactured by DuPont would lead to a higher quality recording tape medium, so it pursued that course. However, Advent built on work that DuPont had done rather than engaging in its own research and d

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ll. Similarly, Kloss has noted that the future of television equipment might not be in the large screen format, but instead in flat screens which can be mounted either flush against walls or directly inside a wall. This option has distracted Kloss from the primary objective of the large screen format, and may divert necessary resources, as well. Financially, the company must reduce its debt level if it is not only to survive, but to thrive over the long-run. Its current debt level is at a level which will make it difficult to attract additional investors, and may make it difficult for Advent to finance its current activities if there is a downturn in some of the product areas. This is an area of concern which needs to be addressed through long-term planning and careful allocation of resources. Alternatives Advent could continue on its current course and follow the market, taking advantage of its ability to seize technological opportunities, improve on them, and then market a lower cost version of the product in question. However, with additional companies entering the consumer electronics market and with the industry moving from a growth phase to a more mature phase, this strategy is not likely to be successful in the long
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Some common words found in the essay are:
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Approximate Word count = 1218
Approximate Pages = 5 (250 words per page)