Management and Corporate Culture of Munsingwear - Essay Example

It can be clearly stated that Munsingwear was not forward-looking and was against any changes, whatsoever.

Answer 2

          When Perry Ellis acquired Munsingwear and the Penguin brand, it was presented with a huge opportunity to exploit the brand in expanding its market as per the changing requirements of the customers. Foraying into a new market requires adopting changes and promoting new ideas and values that can identify with the changing times. Thus, Perry Ellis who has acquired the Penguin brand needs to project new culture that can meet the demands of the younger generation. The various stores and retail outlets that sell the new products with the Penguin brand need to become more fashion-conscious and state-of-the-art technology to promote their products. Showcasing the history of the products would greatly promote the firm's values and project its ideologies that are ready to embrace change.

Answer 3

          The corporate culture of the new original Penguin exhibits openness toward change that was lacking in the old brand. The various aspects of the interactive elements of the organization, which may comprise diverse ideologies and personal conflicts of the individuals, work together to produce a cohesive output representing the organization’s unique culture. Organizational culture can be broadly defined through the shared vision and collective goals of the organization. Hence, culture promotes flexibility of approach and initiative in decisions making suit the changing requirements and become a vital part of organizational leadership. Therefore, an organizational culture that is ready to adopt the changing values of the times greatly facilitates the brand to incorporate the changing requirements of the people while ensuring the credibility of the brand and the quality of the product.

Answer 4

          Perry Ellis and Munsingwear primarily targeted the younger generation and diversified the product line to suit the changing demands of the demographic segment. They also used aggressive advertising to attract new markets through an intense media blitz, using celebrity figures to gain leverage against their competitors. There was a huge risk because, for the last forty years, the brand had catered to the older generation. Thus, using the same brand to attract different market segments was a risk but it was also a great opportunity to exploit the demands of the younger generation by creating a need for the same. The company, therefore, diversified its product line using the brand logo. It used effective communication as a tool to overcome the barrier of socio-psychological paradigms that is increasingly becoming a major factor in the sales and market strategy.