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One of the most important factors is that of environmental concern. The company had initially issued policies to handle the environmental aspect but that had suffered from lack of proper implementation owing to the company’s decentralized structure. The second goal has been identified as reinventing and modifying the business models of the company. In order to improvise on the past strategies, the company has decided to set up a market research segment that would make a survey among the customers of HP and yield out aspects which they expect to be present in their products.
The company had originally been engaged in many processes which were later figured out to be its drawbacks rather than its advantages. For instance, the company had initially been persistent in selling their products to the consumers which normally prove to be rather expensive for them. In contrast they are attempting to let their products out in lease so that they might extract incomes out of their products while the consumers stay better off as well. In addition, through the process, it can own the product throughout its life which could turn out to be rather profitable. Secondly, in order to move ahead with its plans of high networking, HP must also take care of environmental aspects so that its activities might not bring much impact over the same. In order to make its dream of networking come true, HP is also attempting plans to popularize the concept of electronic media among the poorer sections.
In order to win over the confidence of its stakeholders, HP has adopted the strategy of transparency. HP prefers to express its strategies of business model and those adopted to overcome challenges they confront. In addition, they also maintain the expression of their shortcomings such as environmental issues, since such admissions help them in winning over the confidence of their stakeholders (Preston, 2001).
One of the
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