Account for the rise of Philips to become the leading consumer electronics company in the world and its subsequent loss of leadership to Matsushita In doing this evaluate Philips' core competencies and its key weaknesses in the context of a changing external environment
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To survive, it is vital that a firm can do something better than its competitors (Wonglimpiyarat 2004:1). Globalisation has not only altered the nature and the intensity of competition but has had to dictate and shape organisations in terms of what consumers wants, how and when they want it and what they are prepared to pay for it (Hagan 1996:1).
Kanter (1995:71) on his work of "Mastering Change" argues that success in the present day business is not for those companies that re-engineer the way they do things, or for those fixing the past. According to Kanter (1995) such an action will not constitute an adequate response. This is so because success is based on an organisation's ability to create, rather than predict the future by developing those products that will literally transform the way the world thinks and view it self and the needs (Kanter 1995:71).
Within the context of today's global competition, businesses and firms no-longer compete as individual companies but try to corporate with other businesses in their activities (Wu & Chien 2007:2). These researchers went further to argue that, this strategy has become quite common in many businesses including the electronic chain. The conventional vertical integrated company based business model is gradually being replaced by collaborative relationship between many fragmented, but complementary and specialized value stars and constellation (Wu & Chien:1).
An alternative approach towards organisational success, one which is becoming increasing prominent and has attracted the sustained attention of both domestic and international business scholars are core competences, capabilities and resources (e.g. Madhok 1998, Prahalad & Hamel 1990, Hamel & Prahalad1994 ). In today's global business environment it is no longer sufficient simply to meet customers demand as time quality and cost have become increasingly important in the phase of increasing competition (Petts 1997:551).
According to Higgins (1998:2), "customers don't always know what they need or even that there is a problem to be solved." Success awaits those companies that recognize the fact that, to be successful and satisfy customers, it is often necessary to lead customers into recognizing these needs (Higgins 1998:2-3). In the light of this, the aim of this paper is to examine how Philips lost its leadership position in the light of globalization and why the company's had difficulties in changing the strategy.
1.1.2 The Rise of Philip as the Leading Consumer's Electronics in the World
Philips is an electronic company that began in Holland specializing in the production of light bulbs. The company was founded by Gerard Philips and the father
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(“International Business Strategy Case Study Example | Topics and Well Written Essays - 2500 words”, n.d.)
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(International Business Strategy Case Study Example | Topics and Well Written Essays - 2500 Words)
“International Business Strategy Case Study Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.org/business/1519671-international-business-strategy.
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