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CaseStudy

CaseStudy:HewlettPackardsHomeProductsDivisionInEurope
(19962000)

XY
ManagementStrategy
Z

TableofContents
I.Overview........3

II.Mission.......34

III.ExternalEnvironment..47

IV.InternalAnalysis.7

Strengths89
Weaknesses..9
Opportunities.9
Threats9

V.IssuesandProblems910
VI.Alternatives..1011
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VII.Recommendations1112
VIII.ConclusionandImplementations12
I.Overview
Makingmoneyinthe[homePC]business[was]likelandingamanonthemoon.1Thatsexactlywhat
WebbMcKinney,thegeneralmanageroftheHomeProductsdivisionwrote.Indeed,makingmoneyin
thePCbusinesswashard.(Almostashardaslandingamanonthemoon.HewlettPackardsHome
ProductsDivisioninEuropehadalottolearnaboutwhentheyweredoingbusinesswithEurope.
Eventoday,therearemanychallengestointernationalbrandsintheEuropeanmarketscomparedtothat
oftheUnitedStates.
ThewayHewlettPackardsHomeProductsDivisionisorganizedisthroughfunctionallines(thehome
PCmarket)andgeographiclines(EuropeanDivision).Also,theywereverycentralizedwithahigh
degreeofobservingcustoms.
WhenHewlettPackardfirststartedworkingwithEurope,theyappliedthesamestrategicmanagement
knowledgetheyhadfromtheUnitedStatestothatoftheEuropeanmarkets.Theythoughtthatthe
identificationandevaluationofalternativestrategieswereintimatelyconnectedtoexistingstrategies,
whichtheyhadlearnedhereintheUnitedStates.
TheproblemtherewasthatdoingbusinessinEuropewasnotthesameasdoingbusinessintheUnited
States.Theoutcomewasnotpositive.Becauseofthis,theydecidedtorearrangetheirstrategyindoing
businessinEurope.Itwasthenthattheydecidedtofocusonoperationalexcellence.
ThenewmethodofimplementationthatHewlettPackardstartedneededagreaterdegreeof
comprehensivedesigningandsuperiorstrategicanalysis.HenryMintzberg,referstothisstrategic
managementstyleastheplanningmode,whereanumberofcomplexandcomprehensiveplanning
modelsareused.
TheoutcomeofHewlettPackardsnewmethodofimplementationhadallowedthecompanytoachieve
itsoverallstrategicgoals.Theoveralloutcomeisanalyzedandexplainedbelow.
II.MissionandObjective
TheEuropeanmarketisatoughoneformajorinternationalbrands.ComparedtotheUnitedStates,its
muchlessbrandsensitiveandmorevolatile.HewlettPackardsmissionwastostraddlethegap
betweenthepriceconsciousPackardBellandthemoretechnologicallysophisticatedCompaq
Computers.WebbMcKinney,HewlettPackardsgeneralmanager,wasattemptingtoreachanannual
growthinsalesof25%.Aftermanyfailedattempts,theyfinallysawwhatwaswrong.Inmostmarkets
therearelocalcompetitorswhoareaggressiveandveryflexible,sourcinglocallyfromwhichever
suppliercanprovidetherightproductsfastest.Bycontrast,theinternationalplayers,withglobally
integratedsupplychainsandsuppliercertificationprograms,canseemslowandexpensive.What
HewlettPackarddecidedtodowasusenewmarketingmodelsandapproachesthatfocusedonbuilding
integratedbusinesscapabilities.Thenewstrategy,whichHewlettPackardcameupwith,wasslowly
makingthecompanyachieveitsgoal.
III.ExternalEnvironment
1.Industrysector
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ThreatofEntryCompaniesareabletodiversifythroughacquisitionintotheindustryfromother
marketsoftenleveragetheirresourcestocauseashakeup.Herearethebarriersofentry,which
HewlettPackardmustface:
EconomiesofScaleInSeptember1996,BusinessWeekreportedthatHPhadmadeanimpressive
leaptoNumber4intheU.S.marketinjust16months.Theseshowshugeeconomiesofscale,which
efficientlybroughttobear,couldbebroughtaboutintheEuropeanmarket.
ProductDifferentiationThiswasoneofthedifficultbarriers,whichHewlettPackardfaced.
Althoughtheywereabletocomeoutwithanewproductlineeveryseason,itwashardforthem.Also,
HewlettPackarddidnothavethenamebrandidentificationinEuropeasithadintheUnitedStates.
CapitalRequirementsInitiallyHewlettPackardhadthecapitalresourcesneededtoenterthe
Europeanmarket.Theywerethe#3producerofhomecomputersintheUnitedStates.Thishelped
themwhenothercompetitorsranintofinancialtrouble.
CostDisadvantagesIndependentofSizeHewlettPackardhadmoreofacostadvantagethantheir
competitorsbecausetheywerethe#3producerofhomecomputers,andbecausetheyhadbrandname
recognitionintheUnitedStates.HoweversinceEuropewasdifferentthantheUnitedStates,Hewlett
Packardsbarrierwasthatoflearninghowtocopewithhighturnover,andacompressedsellingwindow.
AccesstoDistributionChannelsSinceHewlettPackardalongwithotherinternationalplayersused
globallyintegratedsupplychainsandsuppliercertificationprograms,theywereseenasslowand
expensive.Theywerenotabletocompetewellwiththelocalcompetitorswhosourcedlocally.
GovernmentPolicyalthoughEuropeisseenasonecountry,itisactuallymadeupofmanycountries.
Becauseofthismostcountrieswillhavethesameamountofcurrency.However,somecountriesdo
not.Also,inEurope,therearemanytaxandbusinesslaws,whichcouldaffectthesuccessfulnessof
HewlettPackardinEurope.
PowerfulSuppliersHypermarketswereaseriousrisktoHewlettPackard.Theywereabletolowerthe
pricesoftheirproductsandtheywereabletoremainflexible.Acompetitorsuchasthisisnumerousin
Europe.And,underestimatingthesepowerfulsupplierscanquicklyruinHewlettPackard.
PowerfulBuyersAsMcKinneywrote,pricesarelowerinEurope.IntheUnitedStates,the$2000price
pointhadbecomealmoststandard,buyingevermorecapability(processorspeeds,amountofmemory)
However,thisisdifferentinEurope.So,toovercomethisbarrier,HewlettPackardshouldlearnhowto
makethebuyersinEuropehappy.
SubstituteProductsthisshouldbeeasyforHewlettPackard.Thiscompanyisgoodatupgradingthe
qualityoftheirproductaswellasdifferentiatingitbycomingoutwithnewproductseveryseason.
However,sincetheysourcefromanotherplacedifferentfromlocalcompetition,thiscouldbea
disadvantagetoHewlettPackard.
JockeyingforPositionCompetitioninEuropeisstrong.BecauseofthisHewlettPackardwillhaveto
trytocomeupwithinnovativeproductstoestablishanamebrandinEurope.Also,withthecompetition
highinprices,HewlettPackardwillalsoneedtofindanothermethodofsourcingtheirproducts.
b.Legal/politicalsector
Thedirectionandstabilityofpoliticalfactorsareamajorconsiderationinformulatinglongrange
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businessstrategies.Politics,especiallyinlessdevelopednations,canmakeorbreakabusiness.Some
policiescouldplaceincredibleconstraintsoncurrentandfutureprofitability,ifnotfullyevaluatedprior
toconductingoperationsabroad.
c.TechnologySector
WithHewlettPackard,theywereacompanywhichhadagoodbackground.Becauseofthistheywere
advancedintechnology.Theyhadtheproperproductstobeinnovatedintheindustry.Thiswasakey
factor.Thisadvanceintechnologywasapartoftherequiredstrategyrequiredgaininggrowthinthe
Europeanmarket.
AlthoughHPDcustomizedproductsforEurope,theyassembledthatwhatevertechnologythey
developedintheUnitedStateswasfineforEurope.
D.Culturalsector
InEurope,theculturethereisdifferent.Thewayconsumersandcompetitorsdobusinessisdifferent
thanthatintheUnitedStates.Becauseofthis,HewlettPackardhadtoadapttotheircompetitionby
tryingtolowertheirprices.Also,theyhadtolearnthatEuropeismadeupofmanycountries,and
becauseofthistheyneededtoresearchtheseindividualcountriesinordertodobusinessinthem.
Also,HewlettPackardsestablishedmainstreamintheUnitedStatesenabledthemtoremainstrongwhen
manyoftheircompetitorswerehavingfinancialtroubles.
E.HumanResourcesSector
TheuppermanagementofHewlettPackardisverycommitted.Theyaredeterminedtobesuccessfulin
Europe.TheywantedtoestablishitselfintheEuropeanmarket.OneexamplewasinNovemberwhen
HewlettPackardsawlossesthroughaggressivepricegouging,highinventorycosts,andlostmarket
share.However,tocounteractthis,HewlettPackardwascommittedtobecomingsuccessfulinEurope.
F.PhysicalResourcesSector
WiththephysicalresourcesavailabletoHewlettPackard,itwashard.HewlettPackardhadglobally
integratedsupplychains.TheyalsotriedtoapplywhatUnitedStatesproducthadtothatofthe
Europeanmarkets.WhatHewlettPackardhadtodowasfindnewsupplierstofindtherightbalanceof
inventoryandjustintimeproductdelivery.Sincethecompetitorswereaggressiveandveryflexible,
HewlettPackardhadtoadapttothis.
G.EconomicSector
TheeconomicissuesinEuropearedifferentthanthatoftheUnitedStates.Becauseofthis,Hewlett
Packardshouldtrytounderstanditsmarket.TheEuropeanmarketremainsatoughmarketformajor
internationalbrands.
HewlettPackardshouldunderstandEuropesavailabilityofcredit,inflation,taxation,andlevelsof
disposableincome.Ifnot,HewlettPackardwouldnotbeabletobesuccessfulinEurope.AsMcKinney
wroteOneofthefundamentalthingswedidnorealizeaboutEuropeanmarketsisthatpriceswerelower
thanexpected.
H.Customer/clientSector
Customerscanforcedownprices,demandhigherquality,aswellasdemandingtohavebetterservice.
Also,customersareabletousetheirbuyingpowertoforcecompetitorstolowertheirprices.Thisisone
ofthefactorwhichisathreattoHewlettPackard.Productsoftencannotbestandardizedandtherefore
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customerdemandsdrivedownprofits.
Researchingandunderstandingconsumerbehaviorisakeyelementintheprocessofsatisfyingthe
selectedtargetmarket.Withthisaccomplished,HewlettPackardwouldbeabletobesuccessfulin
Europe.
IV.InternalAnalysisSWOT
ThefirstproductswhichHewlettPackardlaunchedinEuropewaspricedatparityorbetterwithCompaq
andIBMonlikeforlikefeatures.ThismadeHewlettPackardstayinthehigherpricedsynch.This
wasaproblembecauseinEurope,pricesweregenerallylow.Also,HPDsproductlinechanged
seasonally.
Becauseofthis,itwasimportantforHewlettPackardsHomeProductsDivisiontodevelopastrategy
baseduponthemosteffectiveprocedureofoperatingwithintheirpreferredmarket.Thispurposewill
enablethemtobesuccessfulinEurope.Earlyon,HPDfailedtoaddresstheparticularrequirementsof
theirtargetgroupofconsumers,insteadtheyfocusedonwhatwassuccessfulbackhomeintheUnited
Statesandfailedtodistinguishforwhatreasonthedifferenceswereabletonegativelyaffecteffortsin
theEuropeanoperations.
WhataffectedHewlettPackardsHomeProductsDivisioninEuropewas:
1.Centralizedcontrol,decentralizedexecutionHewlettPackardhadacentralizedcontrolanda
decentralizedexecutioninitscompany.Lateronhowever,HewlettPackardrealizedthatinorderto
becomemoresuccessfulinEurope,theyhadtochangethewaytheirorganizationwasbuilt.Inlate1989
early99,HPDreorganizeditslocalmanagementteamandcreatedaEuropeanP&L.
HewlettPackarddidagoodjobofsellingtothechannelbuttheywerenotgoodenoughatmanaging
selloutandwatching[their]competitorsascarefullyas[they]shouldhave.However,whatHewlett
PackardneededtodowasaccordingtoincomingmanagerEmilioGhilardi,wehadtodriveallthe
costsoutofthesystemandthatmeantmanagingtheentirevaluechainfrommanufacturingtofinal
salesverytightly.ThismethodofimplementationmadeHewlettPackardsuccessfultowardstheendof
2000whenHewlettPackardsmanagersfinallyfeltthattheyhadgottenitright.
2.TriedtoapplyAmericanbasedmethodofdoingbusiness,inEuropeHewlettPackardlearnedfrom
previouslessonlearnsthatoneproductssuccessfulnesssinonemarketisnotalwaysgoingtobe
successfulinanother.TheEuropeanmarketDidierChenneveau,HPDEspreviousgeneralmanager
Europewrote,TheEuropeanmarketremainsatoughoneformajorinternationalbrands.Comparedto
theUnitedStates,itsmuchlessbrandsensitiveandmorevolatile.Inmostmarketstherearelocal
competitorswhoareaggressiveandveryflexible,sourcinglocallyfromwhicheversuppliercanprovide
therightproductfastest.Bycontrast,theinternationalplayers,withgloballyintegratedsupplychains
andsuppliercertificationprograms,canseemslowandexpensive.
HewlettPackardsfeatures,althoughbarelyenoughfortheconsumerdemandsoftheUS,essentially
placedtheirPavilionatthehighendofthePCmarketinEurope.FayBarrow,theHPDemarketing
managerwrotethattheydidagoodjobofsellingtothechannel,butwerenotgoodenoughatmanaging
selloutandwatchingourcompetitorsascarefullyasweshouldhave.Moreover,whileHPhadname
brandrecognitionintheUS,theyfoughttohavenamebrandrecognitionintheEuropeanmarket.
3.SupplychainmanagementAswecansee,HewlettPackardisgoodatsupplychainmanagementin
theUnitedStates.However,withintheEuropeanmarket,HPwasnot.They,theinternationalplayers,
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withgloballyintegratedsupplychainsandsuppliercertificationprograms,canseemslowand
expensive.Thankfullyhowever,aftertheycameoutwiththeirbacktoschoolproductlineinFrance
andtheUnitedKingdom,theybecamealittlesuccessful.However,HPDEdidnotdoagoodenoughjob
atwatchingtheircompetitors.Forexample,whenacompetitorcutthepriceofitsproductsby17%,HP
wasslowtoreact.Inventorybuiltupinthechannelandthetechnologybecameobsolete.
SWOT
Strengths
ThestrengthsofHewlettPackardarethattheyhaveknowledgeintheirfield.Theyareoneofthe
leadingleadersinthePCmarket.HewlettPackardisextremelyeffectiveinbuildingadmirable
relationshipswithmajorchainsandtheyarealsogoodatcreatingadominantpositioninprintersandfax
machines.
Assuch,theyarealsoaveryflexiblecompany.Theyarealwaysadapting,andcomingoutwithnew
productlines.FromsellingontheInternet,specialtyretailsales,directsales,toevenretail,theyareable
toreachtheircustomers.WhattheywereabletolearnfromtheirlessonslearnedallowedHewlett
PackardtobemoreflexibleandremaincompetitiveinEurope.AlsoabonuswasthatthisgaveHewlett
Packardaleadfromtheircompetitors.
AlsoHewlettPackardsuppermanagementwereverycommittedtotheircompany.Theywere
determinedinestablishingitselfintheEuropeanmarket.OneexamplewasinNovemberwhenHewlett
Packardsawlossesthroughaggressivepricegouging,highinventorycosts,andlostmarketshare.
However,tocounteractthis,HewlettPackardwascommittedtobecomingsuccessfulinEurope.This
wasoneoftheirmostadmirablestrengths.
Weaknesses
OneofthebiggestandmostobviousweaknessofHewlettPackardwasitslackofworkinginthe
EuropeanMarket.AsWebbMcKinney,GeneralManger,HomeProductsDivisionwrote,Making
moneyinthe[homePC]businessislikelandingamanonthemoon.Itwashard.HewlettPackard
wasnotintunewiththeEuropeanmarket.TheydidnotknowthatEuropeanmarketspricesarelower
thantheyexpected.TheyalsoassumedthatwhatevertechnologytheydevelopedintheUnitedStates
wasfineforEuropeasMcKinneyexplained.
AnotherweaknesswastheirsupplychainmanagementUnlikethelocalcompetitorswhoareaggressive
andveryflexible,sourcinglocallyfromwhicheversuppliercanprovidetherightproductfastest,Hewlett
Packardbycontrast,usedgloballyintegratedsupplychainsandpreviouslyestablishedsupplychains.
Thismadethemseemslowandexpensive.
Opportunities
HewlettPackardhassomeopportunitiesinEurope.Theyareaveryflexiblecompany.Theyarealso
alwayscomingupwithnewproductlineseveryseason.Also,theyhaveafootin,intheEuropean
Market.Withthis,ifthereisnamebrandrecognitionthere,theyshouldbeabletoexpandonmoreof
theirproducts,suchasfaxesandprinters.
Also,theyarealsoacompanywithexperienceandbackground.Thisgivesthematechnological
advantage.Withtheirextensivebackgroundinthefield,theyareabletocreatemoreproducts,which
willputthemaheadoftheircompetitors.Thisincreasestheirproductdifferentiationandalso,itincreases
HewlettPackardsobstaclestonewcompetitionentrants.

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Threats
ThethreatsthatarethreateningHewlettPackardarethattheyneedtoworkontheirexternal
environments.Also,theysometimesleanbackontheirpreviousUSexperiencetoleadthem.What
theyshoulddoislearnfromwhathappenedinthepastandchangeoradapttotheEuropeanmarket.
Also,theyarenotfullyawareoftheEuropeanmarket.SuchinformationashowpricesinEuropeare
lowerarewhatHewlettPackardshouldresearchabout.
V.IssuesandProblems:
IssueI:CentralizedcontrolwithdecentralizedexecutionHewlettPackardsproblemishaving
centralizedcontrolwithdecentralizedexecution.Iftheycouldfocusonimprovingsupplychain
management,theywouldabletobecomemoresuccessful.
IssueII:Notknowingtheircompetitorswell,HewlettPackardwasatadisadvantage.Thereweremany
competitorsinEurope.And,theEuropeanmarketisatoughmarketformajorinternationalbrands.
ThereweremanycompetitorsinEuropewhowasabletouselocalsuppliers.Thisenabledthe
competitorstobecomecheaperthanHewlettPackarddid.Becausetheywerelocaltheysourcedlocally
fromwhicheversuppliercanprovidetherightproductfastest.Thiswasmoreimportantduringthe
holidayswhenHewlettPackardwasnotgiventhisadvantageandinturnseemedslowandexpensive.
Manyofthecompetitorswereabletolowertheirpricestomeetwithothercompetitorsprices,unlike
HewlettPackard.Asthecompetitorsdidthis,theloweringofpricesbecamelowerandlower.This
meantthatthosewhowereslowtoreactwouldendupwithobsoleteinventorythatcouldnotbesold.
IssueIII:Also,HewlettPackardslackofpriorknowledgeoftheEuropeanmarketforexamplehaving
lowerpricesputthematadrawback.Initially,theirpricingwasokay,however,pricesinEurope,as
McKinneyrecalls,islowerthanexpected.
Tomakethingsevenworse,HewlettPackardassumedthatwhatworkedintheUnitedStateswouldalso
workinEurope.Thiswasnottrue.EventhoughproductswerecustomizedfortheEuropeanmarket,
theywerebasicallymadefrompartsandtechnologydesignedanddevelopedfortheUnitedStates.
IssueIV:AnotherissuewasthatHewlettPackardtriedtoundertookanaggressiveexpansionismpolicy
inEurope.ThisjustafterobtaininganimpressiveleaptotheNumber4positionintheU.S.marketin
just16months.However,thisdidnothinderHPsplansfor25%annualgrowthinsales.HPDE
wouldsoonunderstandthattherefirststrategyforgrowthwouldbeunsuccessful.
VI.Alternatives
I.a)Firmsmustassesstwokeydimensionsofcustomerdemands:
1.Customersacceptanceofstandardizedproducts,and
2.Therateofinnovationdesired.
AsseenbytheresponseofmanyoftheEuropeans,innovationwastocostlyduetoR&D,anddirect
marketingrequiredadditionalresearchacustomerintimacystudy.
b)WesternEuropeismadeupofmanycountries,mostofwhichshareamonetarysystemandborder.
Becauseofthis,eachcountryhasadifferentsocial,political,andoreconomicmakeup,infactthe
environmentalfactorsvarybycountryandeachmustbestudied,evaluatedandrated.Inordertobe
successfulinthesecountries,HewlettPackardmustdevelopanindependentstrategyforeachcountryit
intendstosellitsproductsandservicesto.Withthis,HewlettPackardwouldbeabletodeterminethe
properstepsitmusttaketodobusinessinthesecountries.

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c)Differentiatetheirproductsaswellastheirservices.IfHewlettPackardwereabletodothis,they
wouldbeabletobemorecompetitivethantheircompetitors.Theywouldbeabletobemoreinnovative
andmaybeabletoestablishnamebrandrecognitioninEurope.
d)Also,knowingthetargetaudienceisimportant.KnowinghowtheEuropeancustomerthinkswill
enableHewlettPackardtobecomesuccessful.Knowingthecustomerwillhelpthecompanyin
understandingbothpresentandfuturecustomerneedsandwillhelptosteerstrategyinmeetingthese
needs.
II.
a)Aswellasknowingthetargetaudience,itisalsoimportantinknowingthetargetcompetition.
KnowingaboutthecompetitorswillhelpHewlettPackardbecomemoreprofitable.
b)WhatHewlettPackardmustalsodoisbecomebetterinwhomtheyaresourcing.Iftheyareableto
beasaggressiveandflexibleastheircompetitorsbysourcinglocallyfromwhicheversuppliercan
providetherightproductfastest,itwillenableHewlettPackardtobemoresuccessfulintheir
organization.
III.
a)LocationandcoordinationoffunctionalactivitiesareimportantforHewlettPackard.Commonly,
functionalactivitiesofafirmcontainpurchasesofinputresources,operations,marketing,sales,R&D,
andaftersalesservice.ForHewlettPackardhowever,theyhadtofindoutwheretobestlocateand
coordinateitsfunctionalandbusinessactivities.Wherethislocationshouldbedependsonthenatureof
itsindustryandonthetypeofinternationalstrategythatthefirmisengagingin.Asmentionedearlier,
Europehasmanycountriesinit.Becauseofthis,HewlettPackardshouldhavetreatingeachcountry
independentlyisthekey.
b)Also,itisjustassignificantthateachfunctionalareahastherightmixofhumanresources.This
meansforexamplethat,thereareenoughemployeesthatunderstandthedifferencesoftheEuropean
marketculture.
VII.Recommendations
Firstofall,weknowthatHewlettPackardsHomeProductsDivisionEuropeisaprofitablecompany.
Theyaredoingtherightthings,whichmakethemprofitableinEurope.Howeverthereisalwaysroom
forimprovement.WhatHewlettPackardsHomeProductsDivisionEuropeshoulddois:
IssueIRecommendalternativeb).HewlettPackardisaverycommittedcompany.Becauseofthis,
theyshouldsticktowhattheyverecentlydidwheretheydevelopedaregionalorganization.This
methodofimplementationshouldbeusedinotherindustriesacrossthecompany.
IssueIIRecommendalternativesa),b),andc).HewlettPackardshouldfocusonincreasingits
knowledgeintheEuropeanmarket.Theyshouldalsoworkonestablishingbrandnamerecognitionin
Europe.Fromthere,theywouldbeabletohaveabiggertargetmarket.
IssueIIIRecommendalternativea).AlthoughHewlettPackardislearningfromitspreviouslessons
learned,theystillneedtodomoreresearchoneverycountrythattheydobusinessin.Thisgivesthem
anoverallextensiveknowledgeoftheirproductmarket.Usingthis,theyshouldbeabletobemore
profitableinEurope.
IssueIVRecommendalternativeb).HewlettPackardshouldbemoreawareoftheircompetition.
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Theyshouldresearchtheircompetitorstobemoreknowledgeableoftheirproductmarket.Whenthey
firststartedworkinginEurope,theywerenotawareoflocalcompetitorswhowereaggressiveand
flexible.Or,thatthelocalcompetitorsourcedlocallyfromthefastestsupplier.Afterresearching,did
theycomeupwiththisknowledge.So,analyzingtheircompetitorsisanotherrecommendation.
VIII.ConclusionandImplementation
HewlettPackardsHomeProductsDivisionultimatelyhasahighpotentialforprofitability.Theirmain
goals,increasingwealthandstrivingtobetheindustryleaderwillhelpthemaccomplishthistask.
Theyhavenotonlyovercomeglobalbarriers,buttheyalsohavemanylessonslearnedintheprocess.
Thisaccomplishmentwillhelptheminthefuture.However,whattheymustfocusonispaying
attentiontobothexternalandinternalfactors,especiallyasitrelatestothecustomer.
Naturally,theEuropeanmarketwillbeatough.ButaslongasHewlettPackardsstickstoitslessons
learnedandlearnfromthem,itwillnotbeahardtaskatall.

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