Ingersoll Rand Inc. / Nur Natasya Mohd Anuar

• Main Author: Mohd Anuar, Nur Natasya
• Format: Entrepreneurship Project
• Language: English
• Published: 2022
• Subjects: Entrepreneurship. Risk and uncertainty; Industrial research. Research and development
• Online Access: https://ir.uitm.edu.my/id/eprint/59178/1/59178.pdf; https://ir.uitm.edu.my/id/eprint/59178/
• Institution: Universiti Teknologi Mara

Ingersoll Rand is a brilliant example of a company with a diverse product line and a well-established customer base in the commercial and industrial markets. The company provides a wide range of product sales and consultation, maintenance and repair and parts and accessories. They provide a variety options of products such as compressors system, power tools and lifting and material handling machines. This company has variety of business, marketing and operational strategy such as automated marketing approach, personalizes customer outreach at scale, commercializing their products and services through their websites, social platform such as Instagram and YouTube, focusing on environmental, social and governance (ESG) factors into their global business strategy and joined forces to offer a stronger, more comprehensive portfolio of mission-critical industrial, energy, medical, and specialty vehicle products and services In this report, a SWOT analysis explaining about the company’s product 12V Cordless Screwdriver was explained. The first issue regarding the product is that its design, which is non-adjustable holder which gives limited option for user to reach certain parts. The second issue is regarding the missing feature that is the battery fuel gauge which make it harder for user to estimate the battery level of the product. These issues can be solved by implementing a few solutions. The first solution for the first issue is for the company to do some innovation on the power tool design create a new design for the screwdriver. This will give user more options to adjust holder based on their preferences. However, there will be a risk of failure and costly to change a product’s design for the company. The second solution for the second issue is for the company to do some research and innovation on the battery fuel gauges and adding the features in the product. This will increase accuracy of prediction of battery level for user, giving more functional value to product. However, the company might have to face increases in the production cost, thus eventually will need the company to put a higher price for the product in the market.