In the the world today, too many people believe that wealth or success is achieved overnight. The truth is, the success of businesses or people is only achieved with time and good strategy. Particularly, a strategy refers to “a planned set of actions that managers take to make best use of the firm’s resources and core competences to gain a competitive advantage” (Cavusgil et. al, 2012, 625). Planning actions with efficiency and exploiting those actions is a major key to success in the global marketplace, and is the heart of business strategy. Setting objectives provides a clear map to achieve a company’s goals. In particular, Lenovo’s goal is to surpass its competitors like Apple and Samsung, to become the leading personal technology company
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Founded in 1984 by a group of 10 engineers, the multinational technology powerhouse, Lenovo, had a humble and slow beginning delivering computers by bicycle. (Lenovo Story, 2016) In 2004, the president and CEO of the company, Yuanqing Yang, acquired IBM’s personal computing division, immediately making Lenovo the number-three PC maker worldwide. (book) Since the acquisition of IBM, Lenovo has only been further expanding in order to create an economy of scale to compete with other companies in the industry. This move by the company exemplifies the transitional strategy (Cavusgil et. al, 2012) . Since 2010, they have followed a “protect and attack” strategy to protect the core business while growing market share in advanced economies. …show more content…
The remain up-to-date with the needs of consumer and invest dearly into research and development. Efficiency, flexibility, and learning are three of the most important parts of Lenovo’s company culture. The culture is driven by what they refer to as the five P’s: plan, perform, prioritize, practice, and pioneer (Lenovo, “Our Culture - United States”). The fifth P, pioneer, is the idea that Lenovo desires to be the first to come up with ideas, products and methods to be used in their industry. The culture of strategy shows how dedicated Lenovo is to its people and its customers. According to Cavusgil, an organizational culture refers to “The pattern of shared values, behavioral norms, systems, policies, and procedures that employees learn and adopt”
Founded in 1984 by a group of 10 engineers, the multinational technology powerhouse, Lenovo, had a humble and slow beginning delivering computers by bicycle. (Lenovo Story, 2016) In 2004, the president and CEO of the company, Yuanqing Yang, acquired IBM’s personal computing division, immediately making Lenovo the number-three PC maker worldwide. (book) Since the acquisition of IBM, Lenovo has only been further expanding in order to create an economy of scale to compete with other companies in the industry. This move by the company exemplifies the transitional strategy (Cavusgil et. al, 2012) . Since 2010, they have followed a “protect and attack” strategy to protect the core business while growing market share in advanced economies. …show more content…
The remain up-to-date with the needs of consumer and invest dearly into research and development. Efficiency, flexibility, and learning are three of the most important parts of Lenovo’s company culture. The culture is driven by what they refer to as the five P’s: plan, perform, prioritize, practice, and pioneer (Lenovo, “Our Culture - United States”). The fifth P, pioneer, is the idea that Lenovo desires to be the first to come up with ideas, products and methods to be used in their industry. The culture of strategy shows how dedicated Lenovo is to its people and its customers. According to Cavusgil, an organizational culture refers to “The pattern of shared values, behavioral norms, systems, policies, and procedures that employees learn and adopt”