To run a successful business, it just takes a lot of planning. You want to provide a superior product or service to your customers, and always treat them well. Take risks if they benefit your company..i think philips has to follow these things to maintain its success..
I Wish the same too they should not remove resources. Instead they can look at other investment plans and also work on strategies to improve their business and market share.
They can start new ventures where they can use their previous experience and exposure.
"Seriously, you have to cut another $400 million or so to reach targets two years out? What are you going to cut? What do these cuts mean in the long term for employee morale and supply chain partner confidence? What next? "
It is evident that Phillips executives are trying to wright a wrong. In addition the economic global downturn is another added pressure. Whatever the situation, I hope the decision to further cut $400 million yields target results
a while a go I read an article about Philips, and they have the goal of reducing cost by implementing the best projects from their AMC (Autonomus Manufacturing Center) where the employees have the opportunity to compite with the projects and innovations around the globe, they called "Loving and living the brand".
this has increased their motivation for cost reduction in more than 30 countries where Philips has prescense and motivate the employees to grown inside the company.
Idon´t think Philips will have strugle to mantain the level of success they have so far.
I think it is not a big deal for the company like philips to understand where it is going wrong. Fundamentally your sales or not as good as before. It may not be because of slow down but it may be because every one have the product you are trying to sell or may be you are losing market share to competeitors. To alleviate this probably philips should venture into new businesses or launch new products or reduce the profit margins on your products.
Another flurry of news forces a pause and raises the obvious question: What's really going on there?
@Jennifer, I think no body knows what is really going on in the market. If we look at the stock market swings it moves up sharply one day and moves down sharply the next day indicating that the market sentiment are mixed. That is why even CEOs are finding it tough to sense the mood of the market.
Jay_Bond: I have the same questions. While I agree with the others in that another global slowdown (in Spain, it's still the same slowdown, not a new one) will force all companies - big and small - to evaluate and adjust operations and budgets and Philips is wise to take steps now, I wonder what bugs are still hiding under rocks that may not been turned over yet. Or maybe Philips has already turned over the rocks and that's what they found. Guess we'll see what guidance they give in the coming quarters.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Archived Dialogues
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Euro-Crisis: What It Means for High-Tech Firms Join EBN Editor in Chief Bolaji Ojo and Contributing Editor Jennifer Baljko on Thursday, July 12, at 10:00 a.m. EDT for a Live Chat on high-tech and Europe's economic difficulties.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.
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