Strategic Management in Bang & Olufsen: Strategies, Factors, and Analysis

STRATEGIC
MANAGEMENT

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
Strategies and its impact in company decision:-..........................................................................3
External and internal factors of Bang & Olufsen :-.....................................................................5
PART 2............................................................................................................................................8
PART 3............................................................................................................................................8
Reflective Journal........................................................................................................................8
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Strategic management is necessary in every organization and business to work better in
the objectives. Strategic management refer to all the strategies which are applied or need to
manage to find company objectives. Bang & Olufsen is an audio and visual product company
based from the Denmark which creates the worlds most visual stunning speakers and televisions
and stereos, they give one of the best sound quality which is unmatchable. Peter Bang a
successful business man and the business is started in 1925 and since then the company is
working to provide the best quality and services to the customer. Bang & Olufsen focused in
providing new ways of technologies and variety product. The report will explain the case
scenario of the company Bang & Olufsen and the strategic of its management and working .
Further, in report the segmentation and market will be discussed. Internal and external factors
which affect the business and company in its decision and the strategies adopted by the company
for decisions. Pestle and swot analysis & porters five forces in the report will be explained
further. Leadership and differentiation and focus strategy will be explained in the report.
PART 1
Strategies and its impact in company decision:-
Competitive Strategies:- Competitive strategies are the strategies which reflect the ways in the
external strategies of a business in external factors and it helps in providing the benefits with the
competition. Company need to focus on the strategies which can help them in achieving the
goals before their competitor and help the company in finding the best of the solution before
other competitor in market. This strategy help Bang & Olufsen to compete better in market with
its high competitor like BOSE (Schilling, 2019). It is a competitor angle that include the tactics
which lay down the various ways to be build livable.
Branding, Marketing & image:- Branding, marketing include the promotion of the product
made by the company which is important as it can help in reaching the most of the people to a
wider range so that it can help the company in its benefits and company goals. Promotion is
important for the company and it is a strategy adopted by the company to reach wider audience
and sale on large scale. Promotion helps in maintaining the company objective and it is important
to Bang & Olufsen to make decision regarding the promotion and its strategies to the target
market.

Managing People, Process & Benefits:- strategies of people process and benefits include the
company's process of working and company people and their role and process in the
organization. Company always give decision regarding their process because it is important
for the company to work in the best process of working to its employees so that it can
beneficial growth to its employees and managing people in the organization is important
because it helps in future loss of employees so that if employee left company doesn't get
affected by this (Ansoff, 2018).
Retaining consumer and Maintaining Communication:- Company required employees to work
but the company main aim is to satisfy the customer and for that they need to provide the best of
the services, and they need to focus on providing the best quality service and product to their
customer for the money they ask on their product. It is important strategy to communicate with
the customer which help the organization to understand their lack points and it also helps them to
provide the best of the services according to their feedbacks.
Technologies:- Technologies plays a very important role in today's market as to work in the
competition market the company need to work according, and they need to provide the new
technologies to their customer before their competitor does. New technologies in the product
attracts the customers and it also helps the company in finding the best of the ways to ease the
work of their customer. (Technologies) helps in understanding the decision as technologies gives
advancement in feedback in the organization by the consumer on the website and online feature
by which company can take decisions according to the situations of the criteria (Lasserre, 2017).
Mentoring and community involvement:- Mentoring in the organization is important as it helps
in understanding the best of the situations and it also works as proof to the organization heads.
Top management always monitor the employees, and they have a separate team to monitor the
organization teams and customer as well.
Differentiation strategy:- Differentiation strategy are the strategies company make to involve
the product different from their competitor and it helps the company to stand apart from other
competition, It helps the company in finding the best ways to make their product different with
preferences of the consumer choices. For success the Bang & Olufsen try to focus on innovations
and search of new production.
Vertical Strategies:- Vertical strategies are the ways in which a company works and it also
focuses on the structure, It shows the total control of the company from its stock and raw