Competitive Bid Problem and Right Decision Making

General Issues

The phenomenon of a competitive bid is quite common in the global market as well as in local ones. Typically defined as the situation, in which the issuer chooses from a range of bids submitted by the companies applying for a deal (Harding, 2015), the specified phenomenon allows for locating the options that are the most reasonable in terms of the price–quality ratio.

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Situation and the Necessary Actions

Albatross Limited

Albatros, Ltd. has offered the lowest bid of all the companies, which means that the firm is a rather questionable choice in terms of hiring its members. On the one hand, the approach that the organization has decided to undertake may signify that it is very cautious with its financial resources; in other words, by choosing it, the recruiter is likely to reduce the number of risks significantly. On the other hand, the

Dilbert Incorporated

As far as the situation with Dilbert, Inc. is concerned, it can be advised that the specified organization should be removed from the list of the trusted participants. Although the firm has not caused any major costs or damages, the fact that it decided to refuse from offering its bid shows that it may have some financial issues that may jeopardize not only its further growth but also the firms that it is hired by. In other words, the financial crisis, which Dilbert, Inc. may be facing at present, is a threat to the wellbeing of Building T.

Matt Building Inc.

Although Matt Building, Inc. has offered a rather substantive bid and clearly has a unique business proposition, the lack of certainty about its choices makes it a rather dangerous partner as far as business interactions are concerned. Therefore, when considering the possible candidates for hiring, Building T should dismiss Matt Building, Inc. from the list of the possible choices.

Weldon Corporation

Despite the fact that by signing a contract with Weldon Corporation, the organization is going to lose &500,000 of the bid offered by the firm, the options that it offers seem to be the most reasonable of all the bidders applying.

Specifically, the concept of reconsidering the current strategy regarding the use of resources and the introduction of sustainable consumption thereof can be deemed as a perfect opportunity for both organizations. By hiring the specified organization to perform the required job, the firm is likely to benefit significantly due to the opportunity for developing a flexible approach toward the financial resources allocation.

Con-Con Construction Ltd.

The fact that the Con-Con Construction failed to comply with the requirements set in the contract and offer the corresponding financial reward to its partner, the organization cannot be viewed as a trustworthy partner. Therefore, its bid should be declined.

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Vesna Inc.

Although begin as unique as the deal with Weldon, the specified option does not seem a viable solution to the problem, as the company in question does not have the innovative solution that Weldon has. Despite the fact that the bid that the specified company has to offer a far larger bid than Weldon, the latter should be preferred to Vesna due to the extensive opportunities for the further investment in the development of a sustainability strategy. The latter, in its turn, is bound to help the organization succeed in the target market.

Reference List

Harding, C. (2015). Integrated design and construction – single responsibility: A code of practice. New York City, New York: John Wiley & Sons.

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StudyCorgi. (2020, May 17). Competitive Bid Problem and Right Decision Making. Retrieved from https://studycorgi.com/competitive-bid-problem-and-right-decision-making/

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"Competitive Bid Problem and Right Decision Making." StudyCorgi, 17 May 2020, studycorgi.com/competitive-bid-problem-and-right-decision-making/.

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StudyCorgi. "Competitive Bid Problem and Right Decision Making." May 17, 2020. https://studycorgi.com/competitive-bid-problem-and-right-decision-making/.

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StudyCorgi. 2020. "Competitive Bid Problem and Right Decision Making." May 17, 2020. https://studycorgi.com/competitive-bid-problem-and-right-decision-making/.

References

StudyCorgi. (2020) 'Competitive Bid Problem and Right Decision Making'. 17 May.

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