Elite should grab the new ADC and run for the pot of gold or play it safe, business and finance homework help

Respond to the following questions in your own words. Your responses should include specific examples and should incorporate concepts and terms from Chapters 5, 6, 7 and 8in your textbook.

  1. Analyze the Opportunity at Elite Electronics Vignette in Chapter 5. Discuss whether Elite should grab the new ADC and run for the pot of gold or play it safe and wait for more proven technology and competitive sources. Consider the advantages of being first to market compared with waiting for someone else to sustain the costs of working out the issues. (Hint: Develop an expected value analysis of the two alternatives).
  2. What is the purpose of specifications? Compare complex versus simple specifications. Provide an example of each and explain your reasoning.
  3. What factors should be considered when making the decision to lease or buy equipment?

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