Strengths And Weaknesses Of Philips

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Register to read the introduction… ● Creating Connections that Spark Innovation ● Extending Knowledge to More People ● Building an Engaged Community ● Creating Successful Programs Other goals that have been set for the year 2015 are: ● Comparable annual sales growth on an annual average basis at least 2% higher than global Gross Domestic Product over the 2011 – 2015 period ● Reported annual Earnings before Interest, Taxes, Amortization (EBITA) between 10% and 13% of sales in the 2011 – 2015 period ● Grow earnings per Share (EPS) at double the rate of comparable annual sales growth over the 2011 – 2015 period ● Return on Invested Capital at least 4% above weighted average cost of …show more content…
But phillips has already established a strong user base although philips should not forget about the emerging consumers, they should actively update and develop new products and keep the brand recognition high by effect advertizing. Another weakness is that Philips has a huge number of employees which work in a variety of different countries. Therefore Philips experiences some difficulties in sharing information between employees and controlling operations of different businesses. New, efficient and less complicated ways of transmitting information between the stores, manufacturing premises, head office and various departments should take place in order to communicate successfully and deliver the most effective customer service.(Philips Company, …show more content…
Many companies started to produce the same quality products on a cheaper price. Another challenge that not only Philips faces is fast changing environment, where new products are introduced within small space of time. Therefore, keeping track with new trends and products is essential for the business. Spending habits and way how people shop is changing rapidly. People shop more online, looking for promotions or wait until there is a sale period. Therefore, improve online facilities; friendlier web page would boost the sale and maintaining small promotions in the stores would invite higher number of visitors into the

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