Lenovo's Business Strategy Analysis

This assignment requires a comprehensive analysis of Lenovo's business strategy. Students are to examine the company's key products and services, financial performance, and its significant acquisition of IBM's personal computer division in 2005. The focus should be on how this acquisition influenced Lenovo's market share and overall strategic positioning.

Strategy
1

EXECUTIVE SUMMARY
Strategy is often framed by the business organization to attain competitive advantage in
the ever-changing environment through configuring various resources. The devised strategy
must be framed for accomplishing the short term as well as long term goals. If an organization
has to compete in the contemporary competitive market, then it has to design an innovative
product so that they can gain competitive advantage over their competitors.
It has also focuses on assessing the internal as well as external environment through
focusing on various tools and techniques such as PESTLE, SWOT, value chain analysis etc.
External factors can have positive and negative impact on the firm. PESTEL factors are like
political, economic, social, technological, environmental and legal which are described as below
with reference to Lenovo. Along with the help of conducting SWOT analysis company can
easily measures their internal environment as well as internal operations that assists in
determining their strength areas as well as weak areas. Along with this, SWOT tool also support
the organization in analysing the opportunities as well as threat that exists in the external
environment.
2

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
TASKS.............................................................................................................................................4
Analysis of organization's external environment.........................................................................4
Analysis of internal environment................................................................................................7
How the organization currently addresses innovation strategy...................................................9
Strategic Recommendations......................................................................................................12
Implications for stakeholders summary.....................................................................................14
CONCLUSION ............................................................................................................................15
REFERENCES..............................................................................................................................16
APPENDIX...................................................................................................................................18
3

INTRODUCTION
Strategy is defined as the plan of action that supports the overall business in directing
towards attaining the long term as well as short term goals (Aaker, 2001). Main purpose of
enabling strategy is to attain competitive advantage in the ever-changing environment through
configuring various resources. If an organization has to compete in the contemporary
competitive market, then it has to design an innovative product so that they can gain competitive
advantage over their competitors. In the highly advanced market, only innovative and creative
products sustain their positions in the long run to gain profit. It is important for the organization
to focus on design and innovation of product as the current market trends and customers are
attracted towards the unique and innovative product.
Presently, report focuses on assessing the strategic innovation challenge that is faced by
organization that is Lenovo. It is the leader in global market that deals in serving PC, laptops,
etc. to customers and to their clients. Company is also dealing in providing the range of
technological products and services like notebook computer, desktop computers, computer
accessories, etc. Currently, firm has introduced new design of their innovative product in the
market that is Think Pad. Primarily, the report focuses on carrying out analysis of challenges that
are faced by the organization while introducing its new product. Along with this, report will also
gain insight knowledge regarding the way in which innovation can be better used as the source
of sustained competitive advantage. Further, certain recommendations to improve their strategic
position with the help of innovation will be given in the study.
TASKS
Analysis of organization's external environment
PESTEL Analysis
PESTEL analysis is a strategic tool which has been utilised by strategists and marketers
to analysis the external factors of organisation (Gilligan and Hird, 2012). External factors can
have positive and negative impact on the firm. PESTEL factors are like political, economic,
social, technological, environmental and legal which are described as below with reference to
Lenovo:
Political factor
4

Lenovo is not only operating in the single country or region but in many nations.
Therefore, it has to keep its business strategy in line with global politics. WTO has main
advantage of international companies to boost their market. Therefore, government concern with
WTO in order to make mutual agreement exists between two institutions (Gottschalk, 2005).
Along with this, UK had to open its borders of import and export of goods as well that is
beneficial for Lenovo to set up their business in different countries.
Economic factor
Economic factor within external environment also affect activities and operations of
organization in the electronic market. China is considered as an emerging economy that provides
plenty of opportunities to different companies. Lenovo has increased sales and revenue in China.
The firm desired to become the global brand in international markets, however, with sudden
economic crisis that hit the entire world, it has impacted the operations of Lenovo. Therefore,
Chinese government has enforced new economic policy that stimulates the development and
growth of nation.
Social factor
Social factors like increasing growth among population, changes in individual lifestyle
choices and preferences, attitudes, etc. have their effect on the overall demand of electronic or
technological products in the market (Ireland, Hoskisson and Hitt, 2008). The demand of Lenovo
products raised because of rise in the income level that directly affects the individual’s
purchasing power. Along with this, increasing literacy among individuals is also considered as
the major factor that increases the demand of high-tech electronic products in the market.
Technological factor
In the era of modern technology in which companies are launching new products in
international markets, Lenovo needs to take care regarding the technological factor so that they
can easily innovate their products in terms of design, features etc. With the purchase of IBM,
technology is transferred to Lenovo that supports them in using their research and development
activities in order to manufacture the quality electronic products (Johnson and Scholes, 2002).
Environmental factor
In the present scenario, environment factor also plays a significant role as the natural
resources are getting depleting which affect the operational activities of Lenovo. Electronic
5

company is one of the most environmental friendly firms that are engaged in the operations
where all products as well as their packaging are recyclable (Kambil, 2008). Company is abided
by the policies as well as norms under which they are committed to produce degraded halogen
content in their products so that they can manufacture the eco-friendly products.
Legal factor
Laws of China are strictly for the quality or inferior electronic products to protect the
rights of consumers against fraudulent practices. But companies are still in constant struggle to
protect their intellectual rights from the competitors such as apple and Samsung (London and
Hart, 2010).
Porter's 5 Forces model Threat of rivalries- In the PC market Lenovo, Dell and HP basically covers around 50%
of market area. In terms of products design, features, software as well as quality players
have relative few differences. Therefore, it is said that threat of rivalries in the electronic
market is high. Threat of new entrants- There is potential entrance or access in the electronic market
thus, it is said that barrier of entry is high in the market (Rigby and Tager, 2008). In order
to access the electronic market new company must focuses on new invention so that it
may distinct their position in the market. Bargaining power of buyers- in the electronic market the bargaining power of buyers as
well as consumer is relatively low as there is large number of substitute products are
existing in the market (Schoenberg, Collier and Bowman, 2013). Therefore, company
must improve their electronic items and build strong relationship among their customers
for attaining the overall success. Threat of substitute products- Threat of substitute products are high in the market as the
consumer are replacing Lenovo products with the availability of similar products at low
price (Hillier, Grinblatt and Titman, 2011).
 Bargaining power of suppliers- With the availability of cheap labour as well as huge raw
material within the Chinese market suppliers have low power to bargain.
Analysis of internal environment
SWOT Analysis
6

With the help of conducting SWOT analysis company can easily measures their internal
environment as well as internal operations that assists in determining their strength areas as well
as weak areas (Gupta, 2013). Along with this, SWOT tool also support the organization in
analysing the opportunities as well as threat that exists in the external environment.
Strength
 The company Lenovo operates their
business activities in China that is
mainly consider as one of the leading
and emerging economy in the world.
 The company has also built their brand
image through focusing on innovation
in their product, features as well as
design (Hill, Jones and Schilling,
2014).
 The major strength of company is their
cost-efficient supply chain method.
 The brand also indicate high quality
electronic products with the ease and
secure technology within their products
Think Pad as well as booting Pad.
Weaknesses
 The major weakness of Lenovo is that
it do not focus on expanding their
products beyond laptop and PC's.
 Another weakness of company is that
they are unable to maintain growth in
all the market segment (Valentin,
2011).
Opportunities
 The external opportunities are available
for the company through expanding or
venturing their business activities in
middle east regions (Verbeke, 2013).
 In order to enhance their
competitiveness the company had
opportunity to use the low cost labour
as well as available cheap inputs for the
Threats
 The increasing competition is consider
as major threat for Lenovo as it results
in initiating product as well as price
war.
 With the increasing competition it may
also results in introduction of fake
products as well as imitation of product
design that directly affect the company
7

products.
 The company also had opportunity to
enhance their supply chain in the era of
globalization to target more
marketplace.
sales ratio (Tiwana, 2000).
 Emerging small or low cost firm in the
market are giving tough competition to
Lenovo that act as threat for the
company.
Value chain
Value chain is another tool that is used by the strategy consultant in order to have insight
knowledge regarding the set of connected activities that are executed by firm or sourcing raw
material up to the last stage of delivering output to the ultimate customers (Carbone and
Stoddard, 2001). Through conducting business activities in the series will support the Lenovo in
gaining competitive edge. The operational activities of Lenovo are basically classified into two
activities that is-
Primary activities
Inbound logistics The provisions of inbound logistics basically focuses on different or
multiple sources through which company easily acquire the internal
components as well as raw material for putting them into the operations.
Operations Another primary activity is operation it is termed as process through
which Lenovo transformed or change their input into the ultimate
output. The company often uses OEM (Original equipment
manufacturers) for conducting the operation. Thus, it will remove or
take away the risk of production management from the Lenovo itself.
Outbound logistics This activity is concerned with distribution of products. The company
focuses on both the distribution channels that is direct as well as indirect
channel through online stores, retail authorized stores etc. for delivering
the high quality purchasing experience to customers the company deals
in improving as well as expanding their stores in the international
market (Dinsmore and Cooke-Davies, 2005).
8

Marketing and sales This activity focuses on employing techniques such as promotion as
well as advertising with the main aim to increase sale of their electronic
products. The company uses aggressive techniques to enhance sales of
their products (Peng, Wang and Jiang, 2008).
Services The company deals in providing quality and reliable product to
consumer thus services are often needed to raise the value of products
via providing after sales services or repair services to the consumer no
concern where they resides.
Supporting activities
Firm infrastructure This activity basically focuses on planning as well as controlling
systems that support Lenovo to engage in creating effective
structure that would support the company in attaining optimum
growth (Richardson, 2008).
Human resource
management
It mainly support the Lenovo in creating or formulating effective
employment policies as well as programs that will support the staff
in rendering adequate and quality services within the operational
process.
Technology development For gaining competitive edge among their rival companies Lenovo
must focuses on improving their R&D activities as well as other
capabilities (Tamer, 2009).
Procurement It is supporting activity within the firm that is accountable for
acquiring material as well as other inputs that are required for the
company to carry out their operation in proper manner.
How the organization currently addresses innovation strategy
Lenovo is known as the leading computer manufacturing units in the world that basically
focuses on innovation to sustain its position in the competitive scenario (Fleisher and
9

Bensoussan, 2003). With the analysis of internal environment of Lenovo through conducting
SWOT analysis it is has been measured that company has strengthen their brand in the electronic
market through focusing on IBM R&D activities for initiating innovative products, features as
well as design. Therefore, it support the Lenovo to sustain its position in the marketplace. Along
with this, with the help of PESTLE analysis it has analyse the external environment of electronic
industry under which Lenovo operates their activities with their rival companies (Goldman and
Gabriel, 2005). In order to raise the Think Pad sales in the market it is essential for company to
engage in measuring all the external factors that support them in changing or modifying their
innovation strategy.
From the above evaluation of both external and internal environment through using
different tools and technique has results in determining their strategic position in the market and
among their competitors. From the above analysis it has been identified that company faces
intense competition with the company's like Dyson, Apple, Dell, HP etc. therefore, company
engage in integrating the idea of innovation with the strategy that will support in attaining the
success of company (Stonehouse, Campbell and Purdie, 2009). According to the above analysis
it has been assessed that International Business Machines basically focuses on differentiation
strategy as the innovation strategy that ensure their success in the electronic market. Under this
strategy company focuses on limited range of electronic products with providing quality
electronic products with high prices. The product range of IBM mainly consider mainframe
computers as well as electronic products with other net activities (Kay, 2011). The
differentiation innovation strategy plays pivotal role within the business as it support the
collaboration in attaining the competitive edge in the market. Along with this Lenovo also
review the activities of their Research and Development (R&D) teams so that they may engage
in creating and designing innovative range of computer products that will connect with the
changing needs and requirement of the customers.
Along with this, it has also analysed that Apple also focuses on differentiation strategy by
offering range of electronic products such as iMac as well as iBook to premium segment
customers (Teece, 2000). The company focuses on manufacturing innovative and high quality
electronic products at premium prices rather than focuses on setting lower prices for the
products. The company also deals in offering unique quality of their electronic products as well
10

as products that are reliable in nature. Despite of this, another competitor of Lenove is Hewlett-
Packard one of the renowned information technology company that deals in offering range of
electronic products, PC desktops, Printers as well as other accessories. It has been analysed that
currently the innovation strategy that is used by company is cost-leadership strategy that ensure
selling the electronic products on the lowest price through targeting lower profit margins
(Casadesus-Masanell and Enric-Ricart, 2009).
Through analysing the competitive innovation strategy used by Lenovo competitors sit
has been stated that continuous innovation with the change in electronic products is consider as
the effective source of sustaining competitive advantage in the market. It has been stated that
Lenovo is the leading company that had strong track records in their innovative design and
products that support the company to engage in Intellectual Property (IP) strategy (Nickols,
2012). The strategy is consider as an constitutional element within the innovation cycle as well
as among the process of designing their electronic products. As, it protect the innovative product
as well as product design of company from their rival companies so that they may not imitate the
feature within their products and services. With the help of IP strategy Lenovo can easily
generate the stream of profit. The effective strategy will support the overall company in attaining
the overall profit with protecting the innovative product that are design by the company through
establishing their copyright or patent (Lenovo's IBM server deal mimics multi-market growth
strategy used by Samsung and others, 2016). Moreover, innovative organization such as Lenovo
must employ the approaches related with intellectual property depending on the situation to
protect their innovative product that is Think Pad so that the idea may not been copied or imitate
by other or rival companies. The company is addressing innovation strategy that is IP strategy
for their innovative product that is Think Pad so that they may attain proper licence or patent
right for their innovative products. Thus, with the help of this rival companies are not in the
position to imitate or fake the product as in the situation if rival company replicate the products
design or feature of Think pad then Lenovo is accountable for taking penalty or legal action
against the rival company (The Importance of Hybrid Strategy for Your Business, 2016).
Along with this, the company also engage in implementing the “Protect and Allack”
Strategy. With the help of carrying out this strategy, Lenovo is devoted towards protecting their
core legacy enterprise as well as geographical existence while targeting new market
11

opportunities in location that engage in high growth prospective (Aaker, 2001). Lonovo Impelled
by exceeding success and stable growth, remains focussed on applying its Protect and Attack
strategy across every geographical boundaries, customer section and product lines that support
them in attaining advantage in the international market. With implementing this strategy in the
contemporary scenario help the company in attaining leading position within the electronic
market.
From the above evaluated internal and external environment it has been analysed that to
sustain in the competitive market with the innovative product that is Think Pad Lenovo focuses
on spending huge amount in the promotion and advertisement (Gilligan and Hird, 2012). With
the help of this it may support the company in establishing the image of their products in the
market and also attract the customers towards their products and services.
Strategic Recommendations
Through considering the all above aspects it has been recommended that for improving
the strategic position of Lenovo innovative product that is Think Pad, there are different strategic
recommendations. It basically include-
 Continuous development- It has been advised that for improving or amending the
strategic position of Lenovo and their innovative product Think Pad company must
engage in continuous development of products with technological advanced features
through engaging in continuous innovation (Gottschalk, 2005). With the help of
continuous development Lenovo will produce the hybrid or high tech Pad or Laptop for
the customers. Along with this, with the increasing threat of rivalries in the electronic
market, continuous development focuses on innovation within the products as well as
creating effective design of Lenovo products with high quality to attract the customers
(Ireland, Hoskisson and Hitt, 2008). Continuous development also engage activities
related with reinvestment in the R&D activities of IBM as well as improving relationship
with suppliers as well as different vendors for reducing the price so that Lenovo wins the
price war.
 Customer service to customer trust- Another recommendation for improving the
strategic position of Lenovo in market is to provide quality customer services in order to
gain trust and loyalty of the customers (Johnson and Scholes, 2002). In the present era
12

loosing customers decreases the sales volume as well as it will also affect the overall
position of organization in the market. Furthermore, to survive in the long run or gain the
customers advocacy it is essential for Lenovo is maintain quality among their products
that is PC, Laptops, think Pad series etc. as to meet the criteria of customer demand.
Therefore, it is recommended that with providing quality and superior services to their
customers Lenovo can easily build trust among the customers that results in choosing
their product from the competitor.
 Cost-leadership strategy- In addition it is also recommended for Lenovo that to improve
and develop their strategic position in the electronic market company must use the cost
leadership strategy for attaining the competitive edge from their rival companies (London
and Hart, 2010). Cost leadership is the strategy under which company basically focuses
on low cost of their product and compete with the rivalries across wider segments. The
recommended generic strategy will support the Lenovo in generating higher margin
profits through selling more units in the overall market. Along with this, with the help of
recommending this strategy company engage in producing high standard and quality
electronic products using effective technology in order to attract the customers (Rigby
and Tager, 2008). Therefore, using this strategy will overall support the organization in
accomplishing the position of market leader.
 Expand business activities in emerging nations- Along with this, another strategic
recommendation for improving the Lenovo position is expanding their activities in the
emerging economies and nation. With the help of using this strategy it may support the
company to deliver their innovative product that is Think pad in the different region so
that it may attract the customers and generate their sales volume (Schoenberg, Collier and
Bowman, 2013). However, in the present scenario expanding business activities is
consider as an effective opportunity for Lenovo that support in improving and raising
their strategic position through competing in the emerging marketplace.
 International strategy- Furthermore, it is also recommended that for improving the
strategic position of Lenovo company must engage in implementing international
strategy in terms of acquiring another company that deals in similar products or services
(Hillier, Grinblatt and Titman, 2011). For instance, with the help of acquiring software
13

company Lenovo can easily create and design their quality feature electronic product that
will attract the customers that mainly prefer to select the high tech electronic items. Thus,
it is also recommended that Lenovo focuses on acquisition strategy will act as the entry
strategy into the different market that results in providing them competitive edge.
Implications for stakeholders summary
As per the detailed study, it has been measured that from the above analysis of internal
and external environment as well as recommendation the activities of Lenovo directly affect
their stakeholders (Hill, Jones and Schilling, 2014). For example, with the help of implementing
cost leadership strategy within the business it will affect their stakeholders such as employees,
customers as well as shareholders. As, with the recommended cost leadership strategy employees
will engage in manufacturing high quality electronic products and accessories within the low
cost. Thus, company must ensure presence of adequate skills and abilities among the employees.
Along with this, with cost leadership strategy it will also affect the customers as it may results in
offering them quality and high tech product in the low prices (Valentin, 2011). Thus, customer is
required to pay less monetary value for the high quality products that increases the sales of their
products with further generating the profit ratio. Although, the above recommended strategy will
also affect the different shareholders of Lenovo company as with the help of executing cost
leadership strategy it may results in increasing the profit ratio of company with further exploding
their overall sales volume that will positively affect the shareholder (Carbone and Stoddard,
2001). The company is financial sound for providing high dividend to their shareholders.
Along with this, it has been also recommended that for maintaining the strategic position
the company must engage in continuous development of their R&D activities as well as
technology so that they may create or manufacture high tech or quality electronic item for the
customers (Eshun, 2009). For developing the R&D activities within Lenovo there are certain
implications for stakeholders that is with continuous development staff or employees within the
company can easily develop their skills so that they may take active part in the development and
innovating process (Dinsmore and Cooke-Davies, 2005). Furthermore, it will also affect the
customers through offering them high quality and advanced technological electronic products.
Thus, it outcome in changing the need and preferences of the customers. Despite of this with the
continuous development in the Lenovo operation it may positively and negatively affect their
14

shareholders that is company must requires huge amount to be invested in the R&D activities so
that they may upgrade the technology and implement within their production of electronic
products (Peng, Wang and Jiang, 2008). Thus, company will source the fund through issuing
shares in the market among their shareholders.
Therefore, all the above implications for stakeholders based on the analysis and
recommendation will positively impact the Lenovo to sustain in the competitive environment.
CONCLUSION
From the aforementioned report summarizes that devising strategy plays significant role
within the organization as it overall support the firm in attaining the short term as well as long
term objectives. Furthermore, it also aims to attain the competitive advantage through utilizing
their resources as well as competencies in the effectual manner. In addition to this, the report has
also evaluate or measure the external environment under which Lenovo operates their business
activities. With the help of PESTLE analysis as well as Porter's five force model strategic
consultant has analyse the external factors as well as elements that affect the operation of
Lenovo. Along with this, report also measures the internal environment of Lenovo company
through using SWOT analysis as well as value chain analysis that support in measuring the
internal activities that support the overall organization in attaining the competitive edge among
their rival companies. Through considering the all above aspects it has been recommended that
for improving the strategic position of Lenovo innovative product that is Think Pad, there are
different strategic recommendations that is engaging in implementing cost leadership strategy,
engaging continuous development, expanding activities in the international market etc. in order
to attain the competitive advantage among their rival companies.
15

REFERENCES
Books and Journals
Aaker, A. D., 2001. Developing Business Strategies. Wiley.
Eshun, P. J., 2009. Business incubation as strategy. Business Strategy Series. 10(3). pp.156 –
166.
Carbone, G. and Stoddard, D., 2001. Open source enterprise solutions: developing an e-business
strategy. John Wiley & Sons, Inc.
Dinsmore, P. C. and Cooke-Davies, T. J., 2005. Right projects done right: from business strategy
to successful project Implementation. John Wiley & Sons.
Fleisher, C. S. and Bensoussan, B. E., 2003. Strategic and competitive analysis: methods and
techniques for analyzing business competition (p. 457). Upper Saddle River, NJ: Prentice
Hall.
Gilligan, C. and Hird, M., 2012. International Marketing (RLE International Business): Strategy
and Management. Routledge.
Goldman, R. and Gabriel, R. P., 2005. Innovation happens elsewhere: open source as business
strategy. Morgan Kaufmann.
Gottschalk, P., 2005. E-business strategy, sourcing and governance. IGI Global.
Gupta, A., 2013. Environmental and pest analysis: An approach to external business
environment. Merit Research Journal of Art, Social Science and Humanities, 1(2), pp.013-
017.
Hill, C.W., Jones, G.R. and Schilling, M.A., 2014. Strategic management: theory: an integrated
approach. Cengage Learning.
Hillier, D., Grinblatt, M. and Titman, S., 2011. Financial markets and corporate strategy.
McGraw Hill.
Ireland, R. D., Hoskisson, R. and Hitt, M., 2008.Understanding business strategy: Concepts and
cases. Cengage Learning.
Johnson, G. and Scholes, K., 2002. Exploring Corporate Strategy. Prentice Hall.
Kambil, A., 2008. Purposeful abstractions: thoughts on creating business network models.
Journal of Business Strategy. 29(1) pp.52 - 54.
London, T. and Hart, L. S., 2010. Next Generation Business Strategies for the Base of the
Pyramid: New Approaches for Building Mutual Value. FT Press.
Peng, M. W., Wang, D. Y. and Jiang, Y., 2008. An institution-based view of international
business strategy: A focus on emerging economies. Journal of International Business
Studies. 39(5). 920-936.
Richardson, J., 2008. The business model: an integrative framework for strategy execution.
Strategic Change. 17(5‐6). pp. 133-144.
Rigby, D. and Tager, S., 2008. Learning the advantages of sustainable growth. Strategy &
Leadership. 36(4). pp.24 - 28.
Schoenberg, R., Collier, N. and Bowman, C., 2013. Strategies for business turnaround and
recovery: a review and synthesis. European Business Review. 25(3). pp.243 – 262.
Stonehouse, G., Campbell, D. and Purdie, T., 2009. Global and transnational business: strategy
and management. John Wiley & Sons.
16

Tamer, C., 2009. International business: Strategy, management, and the new realities. Pearson
Education India.
Tiwana, A., 2000. The knowledge management toolkit: practical techniques for building a
knowledge management system. Prentice Hall PTR.
Valentin, E.K., 2011. Away with SWOT analysis: use defensive/offensive evaluation instead.
Journal of Applied Business Research (JABR), 21(2).
Verbeke, A., 2013. International business strategy. Cambridge University Press.
Online
Casadesus-Masanell, R. and Enric-Ricart, J., 2009. From Strategy to Business Models and to
Tactics. [Pdf]. Available through: <http://www.hbs.edu/faculty/Publication%20Files/10-
036.pdf>. [Accessed on 4th August 2016].
Kay, N., 2011. Competitive Strategy. [Pdf]. Available through:
<https://www.ebsglobal.net/documents/course-tasters/english/pdf/h17cs-bk-taster.pdf>.
[Accessed on 4th August 2016].
Lenovo's IBM server deal mimics multi-market growth strategy used by Samsung and others.
2016. [Online]. Available through:
<http://www.computerworld.com/article/2486853/network-servers/lenovo-s-ibm-server-
deal-mimics-multi-market-growth-strategy-used-by-samsung-and-oth.html>. [Accessed on
4th August 2016].
Nickols, F., 2012. Strategy. [Pdf]. Available through:
<http://www.nickols.us/strategy_definitions.pdf>. [Accessed on 4th August 2016].
Teece, J. D., 2000. Business Models, Business Strategy and Innovation. [Pdf]. Available through:
<http://www.businessmodelcommunity.com/fs/Root/8jig8-
businessmodelsbusinessstrategy.pdf>. [Accessed on 4th August 2016].
The Importance of Hybrid Strategy for Your Business. 2016. [Online]. Available through:
<http://blog.twmg.com.au/the-importance-of-hybrid-strategy-for-your-business/>.
[Accessed on 4th August 2016].
17

APPENDIX1. History of Company- Lenovo is the famous global manufacturer of PC's as well as
innovative laptop as well as notebook computer. Think pad was the innovative product of
Lenovo that had capture the overall market. The Lenovo was founded on 1st November
1984. The IBM is the first company that introduces first personal computer. The
company had acquired IBM's personal computer business in the year 2005 with acquiring
their famous notebook series that is Think Pad as well as tablet lines. With acquiring the
IBM company had improved and developed their brand image with accessing foreign
markets. The acquisition had rank the company at third position that deals in
manufacturing the personal computer.
2. Key Products and services- The key products of Lenovo include Desktops, Notebook,
Printers, Smart phones etc.3. Financial performance of company
18

19