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Dominant Management Philosophy of Whirlpool Corporation

Paper type: Essay
Pages: 2 (307 words)
Categories: Business,Business Ethics,Corporation,Management,Philosophy
Downloads: 31
Views: 199

I hereby present the analysis of the dominant management philosophy of Whirlpool Corporation for evaluating whether our company shall acquire Whirlpool. Whirlpool’s management is strongly committed to build strong brands and a growing loyal consumer base via its brand value creation strategy based on diversity, innovation, cost productivity and corporate social responsibility. Whirlpool knows the art of leveraging its wide array of strong brands to serve strategically different & geographically widespread markets.

Innovation is Whirlpool Corporation’s differentiating strategy giving it a significant competitive advantage.

Every Whirlpool Brand aims at understanding the unique consumer needs and converting them into products and services, thus, creating unmatched customer loyalty resulting in high revenue growths and superior return to the global investors. Whirlpool’s revenue has grown by 7. 3 % ; it has returned $ 502 million to shareholders, during the year ended December 2007.

Apart from strong brands, Whirlpool has a well diversified customer, product and employee base. A wide range of products allows the company to cater to a large and diverse range of consumers all across the globe, thus, providing it with diversified range of revenue streams.

It strategically explores new markets and then uses its strong brands ; value creation strategies to enter those markets where product penetration level is still low. For example, India with a population of 1. billion and an expected home appliances market size of $ 4 billion clicked as a high growth market. Whirlpool has already captured 25% of Indian market. It has well defined code of ethics covering 14 aspects of business and the same is well-embedded throughout the organization. Whirlpool is listed 18th on World 100 Best Corporate Citizens by Business ethics magazine and among the Top 25 Most Respected U. S. Companies by the Reputation Institute. This demonstrates strong consumer trust, which can be leveraged to fuel higher turnover.

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Dominant Management Philosophy of Whirlpool Corporation. (2018, Sep 22). Retrieved from https://studymoose.com/dominant-management-philosophy-of-whirlpool-corporation-essay

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