Strategic Management Report: Analysis of Strategic Solutions

This report provides an overview of strategic management, focusing on three consumer electronics companies: Dyson, Hotpoint, and Electrolux. It begins with a definition of strategy and its importance in achieving organizational goals. The report then analyzes each company's challenges and strategic solutions. Dyson faces employee turnover, addressed through employee motivation strategies like Maslow's hierarchy of needs. Hotpoint struggles with low productivity, which is tackled by implementing employee training programs. Electrolux aims to meet customer demands by applying a cost leadership strategy, reducing operational costs while maintaining product quality, based on Porter's Generic Model. The conclusion emphasizes the necessity of implementing new strategies and theoretical frameworks for gaining competitive advantages. The report references key academic sources to support its analysis. This document is contributed by a student and available on Desklib, a platform providing AI-based study tools.

Strategic management

Introduction
• Strategy is an action that managers take to attain one or more of the
organization’s goals (Makadok, Burton and Barney, 2018). Strategy can
also be defined as “A general direction set for the company and its
various components to achieve a desired state in the future.
• Strategy results from the detailed strategic planning process”.

Companies and their strategic solution
 The three main company chosen for this section are Dyson, Hotpoint
and Electrolux. All of these companies belongs to consumer electronic
industry.
 These respective companies have good image at marketplace as they
are offering higher quality of products and services to them in
appropriate manner (Meyer and Xin, 2018).

Dyson
 It is a UK based electronic company that mainly manufactures home
appliances like blameless fans, lights, hand dryers, heaters, vacuum
cleaners, air purifier etc.
 The company deals its operational activities across the world. At the
time of executing its work the main challenges faced by them is related
to increasing employee turnover at workplace.
 The main reason behind this is excessive work pressure and strict
policies of the company that influences employees to switch their job.

Strategic solution
 In order to overcome this, it is essential for the manager of this
company to motivate its existing employees for persuade them to
remain loyal with the respective company for longer period of time
(Bailey, Kelliher and Garavan, 2018).
 For this, manager can make of use of Maslow's hierarchy need theory.

Hotpoint
 Hotpoint basically offers domestic home appliances to its customers
range.
 The company was incorporated in the year 1911 and headquartered in
Peterborough, UK. It has been anal sued that this company, it currently
facing issues related to low productivity at workplace.

Strategic solution
 For reducing impact of this problem, the respective manager of
Hotpoint have adopted training method for the employees (Johnsen,
2018).
 This method will allow employees in upgrading their existing skills as
well as knowledge over the same as they are getting appropriate
guidance for the same.

Electrolux
 It is a globally renowned and established manufacturer of home
appliances.
 The operations of this organisation are not just confined to domestic
territories but also spread to different parts of the globe.
 It becomes important for this firm to make sure that the functioning of
this electronic company takes place in a manner such that the demands
of customers can be satisfied.

Strategic solution
 To deal with this, the manager of this entity can apply cost leadership
strategy of Porter's Generic Model which is aimed at reducing the cost
of operations while ensuring that the quality of products do not get
deflated (Kleibrink, 2018).
 This strategy would provide aid to Electrolux to meet the needs and
wants of customers in a manner such that they would derive extensive
satisfaction post the usage of company's offerings.

Conclusion
 From above presentation it has been summarised that, every
organisation have to implement some new strategies within their
working as it will provide assistance to them in gaining competitive
advantages.
 Along with this, every organisation implement some theoretical
framework within their working for gaining competitive advantages and
effectual implementation of strategies.

References
 Makadok, R., Burton, R. and Barney, J., 2018. A practical guide for
making theory contributions in strategic management. Strategic
Management Journal, 39(6), pp.1530-1545.
 Meyer, K.E. and Xin, K.R., 2018. Managing talent in emerging
economy multinationals: Integrating strategic management and human
resource management. The International Journal of Human Resource
Management, 29(11), pp.1827-1855.