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How the UK Lost its Faith in National Champions - Essay Example

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The author of this paper claims that the UK is a leading trading power and financial center and is one of the quintets of trillion-dollar economies of Western Europe. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs…
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How the UK Lost its Faith in National Champions
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Download file to see previous pages Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. Since emerging from the recession in 1992, Britain's economy has enjoyed the longest period of expansion on record; growth has remained in the 2-3% range since 2004, outpacing most of Europe.
The majority of the companies were held by the government until the 1940's. However, at present, there is widespread privatization of formerly government-owned companies. Many leading companies are owned by or in the process of bidding for the foreign owners. For instance, Jaguar's acquisition by TATA Motors and BMW selling off Rover. Some of these owners are themselves in the public sector or are only just going through the privatization process. The crisis in the US property market has prompted global banks to rein in lending, leading to fears of a sharp global slowdown. (Fleming 2007). (Cubbin).
There are some acceptable rescue strategies that are used for rescuing corporate organizations. "Many of these strategies require internal changes, which may impact on the following areas:" (Arrangements: Working Towards a Common Goal).
Pricing policy: The pricing of products of a company even if it is healthy is of great importance. The pricing of a product will be dependent on many factors like competition for the product, its exclusivity, consumer perception, etc. A company that is in financial trouble can take a look at its pricing policy and try to increase revenues through increased sales. The first thing that could be done is to see whether the products can be priced higher than it is currently priced. If, after due analysis and if found feasible, increased product pricing can help to increase the cash flow of a company in trouble. Another strategy that could be followed is use menu-pricing. This is the practice of assessing the standard price of a product and then add or lessen related services that are associated with the product. In this way, the pricing of the product can be fixed so that it will be different from the price of a competing product. "Top pricing performers use menu-pricing--setting a price for standard service and then offering a range of service levels that raise or lower that price--differently than their less successful peers, and more often. This approach makes it possible for companies to charge customers more accurately for the cost of serving them." (Alldredge, Griffin and Kotcher, 2003). Increasing the price range of products may also be of help.
Cash Management: Managing scarce resources in times of need is very important in any situation. A company in financial trouble may find itself starved of liquid assets, especially cash. A thorough understanding of the cash flow of the company should be made. From this, it will be clear as to where the problem in cash flow exists. For example, it could be that debtors are not paying what is due to the company. Addressing this problem and trying to find a way out will be of great help in situations like this.
Manufacturing process: A modification or restructuring of an inefficient manufacturing process can help in rescuing the company. It is a service sector company, its service process could be revamped. ...Download file to see next pagesRead More
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