Contract Management Challenges and Practical Solutions - Research Paper Example

GSA Wants You Introduction In recent years, the method of conducting business is somewhat different from the traditional methods. This is mainly because of the introduction of advanced technological advancements. Similarly, while performing the business of building model airplanes that produce small remote control aircrafts capable of long sustained flights, the incorporation of pioneering technologies play an imperative role towards attaining its predetermined objectives (Pohjonen, 2009). With this concern, the assignment tends to reply to the US General Services Administration (GSA) Schedules solicitation regarding various significant aspects that require to be taken into concern while conducting the above stated business i.e. producing small remote control aircrafts. These aspects have been discussed in detail in the following. 1. Description Of Electronic Submission Process And Security Measures In early days, mailing bunch of paper materials and letters were quite common. Nowadays, advanced technological advancements have certainly changed the perception of individuals and enabled them to keep pace with the changing world. In general, electronic submission is regarded as the process based on which documents are submitted through varied electronic means. The internet medium has certainly become one of the best electronic means through which one can easily transfer the document from one place to other with saving much amount of time (Rush University, n.d.). In the context of building model airplanes into a small business, which produces small remote control aircrafts that are capable of long sustained flights, the electronic submission process can be carried out through internet medium as an essential communication component. It will be vital to mention in this similar concern that the aforesaid mean of electronic submission process eventually contribute in preparing as well a submitting various essential documents electronically, resulting in simplifying the contract process between the two parties (Rush University, n.d.). Specially mentioning, the security measures present in the above discussed business approach are quite important to be taken into concern with the intention of effectively submitting a particular offer along with getting accepted the same. It is quite obvious that the submission of important documents over the internet or web always generate certain threats that might create greater complexities in the operational procedures. In this regard, the measures include following the solicitation instructions carefully and reviewing the same with utmost efficiency among others (Rush University, n.d.). The advantages over classic paper solicitations can be measured in the form of appropriately responding as well as completing the solicitation and efficiently reviewing the similar procedure for generating several favorable results. 2. Chances Of Having Bid Being Accepted By Larger Corporation Though my company being small in size, which tends to build model airplanes that produces small remote control aircrafts holding the capacity of long sustained flights, there lays a chance of having its bid accepted alike several large corporations like Boeing. This can be supported with reference to the fact that my company has the potentiality of producing long distant flights that are quite competent enough to carry huge figure of passengers. Similar to Boeing, which constructed an image in the field of commercial airline business in the form of attracting customers, my company can be related to this position by a certain degree due to possessing certain significant facets (Boeing, 2014). These facets can be related to wider introduction maximum thrust related engines, higher Typical Cruise Speed and having maximum fuel capacity among others. In this similar context, it can be affirmed that the fuel capacity of the remote control aircrafts producing by company generally ranges to 70,000 liters. Moreover, the Typical Cruise Speed of the flights producing my company nearly accounts to 0.55 Mach. On further note, the flights producing by my company incorporate the maximum thrust engines like GE90-100B2 and GE90-105BL among others. These features eventually provide the chances of accepting the bid of my company as a much larger corporation like Boeing. 3. Negotiation During the Contract Award Process Once Solicitation Is Accepted Generally, negotiation during the “contract award process” takes place during bidding. The bidding process mainly include formulation of specifications and plans based on the requirements of the owners who are going to buy any product (Lynch, n.d.). It is worth mentioning that once my solicitation is accepted, a proper as well as effective negotiation procedure require to be followed particularly during the contract award process. In this regard, initially, it is necessary to schedule a meeting wherein the involved parties can discuss about the respective terms along with conditions regarding the contract. This meeting will certainly help in negotiating the prices related to a particular product. Moreover, whenever it is found that additional information is needed to be mentioned in the contract, this is conveyed to the parties and seeks for appropriate as well as relevant suggestions from them (GSA, n.d.). 4. Determination of the Value Of Most Favored Customer Or Class Of Customers To GSA In recent years, generating greater value to the customers plays an imperative role in raising the profitability of a firm. It is to be affirmed that the determination of the most favored customers eventually makes the sellers not to offer low prices and simultaneously not providing the same price to the contracting customers (United Nations, 2010). The determination of valuing the most favored customers or a group of customer will certainly make my company to focus on charging similar and fair product price to them. This might impose adverse impact on my company being a small business in terms of losing the satisfaction level of the customers and declining the brand image. 5. Compare And Contrast The Advantages Of Being A Small Company Over Being A Lager Firm (e.g., Boeing) In Terms Of Contract Administration And Management The notion of contract administration and management is regarded as a legal procedure wherein there exists an agreement between the involved parties undertaking a particular contract. Apparently noted, the contract management / contract administration mainly helps in managing a contract through establishing a strong association with the vendors, customers and employees involved in a contract (Dale & Fischer, n.d.). It is quite obvious that there lays numerous differences between a small and large company in terms of reaping several significant benefits from the approach of contract administration as well as management. Being a small company, little advantages can be gained through following an effectual contract administration as well as management approach as compared to larger firms like Boeing. This can be justified with reference to the fact for large companies such as Boeing, an effective contract administration as well as management approach helps them towards completing a contract within stipulated time frame in the form of employing huge figure of personnel and fully utilizing the accessible resources. On the other hand, being a small company, the completion of a contract often becomes questionable as these firms lack in fully utilizing available resources and making substantial investments for employing personnel in completing the same within a specified time period. It is worth mentioning that the concept of contract administration and management assist the big firms like Boeing towards making smooth flow of its diverse contracts without hampering the negotiation process, as they possess enhanced decision-making procedure. On the other hand, the above discussed advantage cannot be gained by the small companies as they does not possess greater thinking ability and contain underdeveloped decision-making ability. Thus, based on this discussion, it can be affirmed that the large companies often reap significant benefits from the idea of contract administration and management in comparison with the small companies. 6. Assessment of Different Marketing Methods Used To Market to the Federal Government The different marketing methods that can be used to market the remote control aircrafts to the federal government include sending e-mails, conducting meetings, making report presentations and organizing huge events. The three most effective methods that my company would use to market the product to the US government have been depicted in the following. Conduct of Meetings: The conduct of meetings with the governmental clients may help in marketing the remote control aircrafts. It is strongly believed that every client possesses diverse needs and demands. It is anticipated that this method will help my company to know better about the requirements of different clients relating to the product. Making Report Presentations: Apart from conducting meetings, making report presentations can also be regarded as one of the effective methods, which might assist my company to market the above discussed product to the US government. The presentations will mainly comprise the unique selling points (USPs) and most vitally, the attractive features of the product, considering which the US government may purchase the same by a certain degree. Sending E-mails: This will be the other effective method of marketing the product to the US government. Similar to report presentations, the e-mails will mainly be mainly comprised of varied information and the facets of the product that might prove to be quite appealing for the US government (Ogbomo & Ogbomo, 2008). Conclusion From the above analysis and discussion, it can be ascertained that electronic means have become one of the prime mediums to conduct business efficiently. However, through the electronic submission process in the context of completing a contract became quite widespread, numerous issues such as security can be apparently observed to remain associated with the same. Specially mentioning, there lays certain effective methods based on which the product remote control aircrafts can be marketed to the federal government. These methods may comprise sending e-mails and making report presentations among others. Thus, it can be concluded that being a small company, there lays the probability of attaining a minimum level of profitability through effectively utilizing the above discussed marketing methods to the US government. References Boeing. (2014). Technical characteristic. Retrieved from http://www.boeing.com/boeing/commercial/777family/pf/pf_lrproduct.page Dale, L., & Fischer, O. (n.d.). Contract management challenges and practical solutions. Retrieved from http://www.ccca-accje.org/EN/events/pdf/Spring%20Training%20A%20-%20Contract%20Manag.pdf GSA. (n.d.). Responding to a solicitation. Retrieved from http://www.gsa.gov/portal/content/202577 Lynch, J. (n.d.). Contract negotiations and award recommendation. Retrieved from http://www.procurementclassroom.com/contract-negotiations-and-award-recommendation/ Ogbomo, M. O., & Ogbomo, E. F. (2008). Importance of information and communication technologies (icts) in making a healthy information society: a case study of Ethiope East Local Government Area of Delta State, Nigeria. Retrieved from http://www.webpages.uidaho.edu/~mbolin/ogbomo2.pdf Pohjonen, S. (2009). Law and business. Retrieved from http://www.helsinki.fi/oikeustiede/omasivu/pohjonen/Law%20and%20Business.pdf Rush University. (n.d.). Grants.gov electronic submission process. Retrieved from http://www.rushu.rush.edu/servlet/Satellite?MetaAttrName=meta_audience_portal&ParentId=1232343275279&ParentType=RushUnivLevel4Page&c=content_block&cid=1232343275423&level1-p=4&level1-pp=1229902713476&level United Nations. (2010). Most favored nation treatment. Retrieved from http://unctad.org/en/docs/diaeia20101_en.pdf Read More