June 19, 2018

Philips management strategies. Essay sample

 

Nowadays, Philips is one of those companies that are focused on the idea of making the world around us a more sustainable place. That is the reason why it is not surprising why their management strategies reflect this idea as well.

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One of the most significant aspects to highlight regarding the subject under consideration is that the Executive Committee of the company shares the responsibility of implementing all Philips ideas with Chief Executive Officer. Also, they are the ones who monitor how the company achieves its goals as well as how much time it generally takes.

Apart from that, there are a lot of other management principles which the company adheres to. Among them are independent supervision and leadership. What should also be emphasized is that every department is supervised by an expert in the field which is the reason why it is easier for the company to manufacture high-quality products as well as remain one of the leaders on the market. Besides, the company constantly conducts researches in order to find out more about those challenges and struggles which their customers face on a daily basis. It helps them figure out which direction to follow as well as what product their target audience expects in general.

All in all, one of the most significant strategies in Philips is to encourage innovation and creativity within their team. That is also the key factor why they remain at the top of the market for such a long period of time. Being innovative helps them to attract new customers as well as to surprise the old ones.

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