Essay on An Organization 's Theory Of The Business
To better address an organization’s theory of the business, we need to make three assumptions: environments in which the organization is operating, the specific mission of the organization and its core competencies in which the organization must excel to maintain leadership (Drucker, 1994). They are discussed in the following subsections.
EXTERNAL MACRO TRENDS
While analyzing Whirlpool’s business environments, we are mainly concerning external macro trends from three perspectives: the social/cultural, economic and technological.
1.1. Social/Cultural Trends
In definition, social/cultural trends are social trends that have a significant influence on the ways people live as well as creation of cultural values within a society. By understanding such trends, Whirlpool can gain new insights into changing consumer landscapes, and thus becomes more customer-driven and proactive in the digital strategy making process. We have identified several consumer lifestyle trends for Whirlpool. They are:
a. Busy Lives as a Mainstream
According to a recent survey from Gallup, nearly forty percent (39%) of all full-time workers are working more than 50 hours per week, and half of all full-time workers indicate that they typically work more than 50 hours (Saad, 2014). Exhibit 1 provides a detailed description of the results. Moreover, another piece of hard evidence for demonstrating the trend of busy lives is the rise of dual income households. Traditionally, most…