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PHILIPS STRATEGIC PLAN Name: Phan Hoang Minh ID: 94011901748 Class: 19TAKD Course: Strategic Management Lecturer: Rewel Jose Santural Case Analysis: Philips Company Phan Hoang Minh Table of Contents Introduction of Philips Business Overview PHILIPS 11 MISSION AND VISION 11 PHILIPS GENERAL PORTFOLIO 12 Sales and Sales Growth 14 Sales Report Defined 15 Net Income 16 PHILIPS INTERNAL AUDIT 18 Value Chain Analysis 19 Internal Factor Evaluation (IFE) Matrix 20 Philips Vrio Analysis 21 PHILIPS EXTERNAL AUDIT 22 Philips Pestel Analysis 23 Philips Forces Analysis 24 External Factor Evaluation (EFE) Matrix 25 Competitive Profile Matrix (CPM) 26 Competitive Analysis 27 Regional Competitive Analysis 28 PHILIPS LONG-TERM GOALS 29 PHILIPS STRATEGY 30 SWOT Matrix 31 SPACE Matrix 32 BCG Matrix 34 Grand Strategy Matrix 35 QSPM Matrix 36 STRATEGIC PLANNING FOR NEW HOSPITAL BUILD 38 Conclusion 45 References 46 Case Analysis: Philips Company Phan Hoang Minh Introduction of Philips Philips, a Global Company Royal Philips Electronics is one of the world's biggest electronics companies and Europe's largest, with sales of US$ 33.9 billion in 1998 It is a global leader in color television sets, lighting, electric shavers, color picture tubes for televisions and monitors, and one-chip TV products Its 233,700 employees in more than 60 countries are active in the areas of lighting, consumer electronics, domestic appliances, components, semiconductors, medical systems, business electronics, and IT services (Origin) Philips is quoted on the NYSE, London, Frankfurt, Amsterdam, and other stock exchanges Franỗois Adrianus "Frans" van Houten is the successor to Gerard Kleisterlee, as Chief Executive Officer of the Dutch company of Royal Philips Electronics, taking over the position on April 2011 Case Analysis: Philips Company Phan Hoang Minh Global Leader Royal Philips Electronics is eighth on Fortune's list of global top 30 electronics corporations We are active in about 80 businesses, varying from consumer electronics to domestic appliances, and from security systems to semiconductors We are a world leader in digital technologies for television and displays, wireless communications, speech recognition, video compression, storage, and optical products as well as the underlying semiconductor technology that makes these breakthroughs possible We have world-class solutions in lighting, medical systems (particularly scanning and other diagnostic systems), and personal and domestic appliances where our investments in design and new materials are critical to success Translated into figures, we produce over 2.4 billion incandescent lamps every year, and some 30 million picture tubes; and each day, our factories turn out more than 50 million integrated circuits Around 2.5 million heart procedures (scans and interventional procedures) on X-ray equipment are carried out each year using our technology One in seven television sets worldwide contains a Philips picture tube, and 60 percent of all telephones contain Philips products Thirty percent of offices around the world are lit by Philips Lighting, which also lights 65 percent of the world's top airports, 55 percent of soccer stadia, and 30 percent of hospitals The strength of Philips' global operations is reflected in its (value-based) leadership position in many of the markets in which it is active Case Analysis: Philips Company Phan Hoang Minh Selected from Philips website Patents and Trademarks Philips has some 60,000 patent and design rights and almost 30,000 trademark registrations worldwide Key patents are in such fields as optical recording (CD-Audio, CD-ROM, CD-R, CD-RW, DVDVideo, DVD-ROM), digital audio coding (MPEG-2 audio compression), digital video coding (MPEG video compression), and mobile telephony (GSM and CDMA) Safeguarding the company's portfolio of patents and product design rights are its 130 patents and trademarks specialists Located throughout Europe and in the United States, Japan and Singapore, they help exploit the results of Philips' worldwide R&D activities by licensing the generated patents They also pay close attention to the trademarks that support the company's commercial activities Chief among these are Philips' house marks - the Philips word-mark and the Philips shield emblem - which are among the most widely recognized trademarks worldwide Case Analysis: Philips Company Phan Hoang Minh A Century of Achievement The foundations for what was to become one of the world's biggest electronics companies were laid in 1891 when Gerard Philips established a company in Eindhoven, the Netherlands, to 'manufacture incandescent lamps and other electrical products' The company initially concentrated on making carbon-filament lamps and by the turn of the century was one of the largest producers in Europe Developments in new lighting technologies fuelled a steady program of expansion, and, in 1914, it established a research laboratory to study physical and chemical phenomena, so as to further stimulate product innovation Marketing companies had already been established in the US and France before the First World War, and in Belgium in 1919, and the 1920s saw an explosion in their number It was at this time that Philips began to protect its innovations with patents, for areas taking in Xray radiation and radio reception This marked the beginning of the diversification of its product range Having introduced a medical X-ray tube in 1918, Philips then became involved in the first experiments in television in 1925 It began producing radios in 1927 and had sold one million by 1932 One year later, it produced its 100-millionth radio valve, and also started production of medical Xray equipment in the United States Philips' first electric shaver was launched in 1939, at which time the Company employed 45,000 people world-wide and had sales of 152 million guilders Science and technology underwent tremendous development in the 1940s and 1950s, with Philips Research inventing the rotary heads which led to the development of the Philishave electric shaver, and laying down the basis for later groundbreaking work on transistors and integrated circuits In the 1960s, this resulted in important discoveries such as CCDs (charge-coupled devices) and LOCOS (local oxidation of silicon) Philips also made major contributions in the development of the recording, transmission and reproduction of television pictures, its research work leading to the development of the Plumbicon TV camera tube and improved phosphors for better picture quality It introduced the Compact Audio Cassette in 1963 and produced its first integrated circuits in 1965 The flow of exciting new products and ideas continued throughout the 1970s: research in lighting contributed to the new PL and SL energy-saving lamps; other key breakthroughs came in the processing, storage and transmission of images, sound and data where Philips Research made key breakthroughs, resulting in the inventions of the LaserVision optical disc, the Compact Disc and optical telecommunication systems Case Analysis: Philips Company Phan Hoang Minh Philips established PolyGram in 1972, and acquired Magnavox (1974) and Signetics (1975) in the United States Acquisitions in the 1980s included the television business of GTE Sylvania (1981) and the lamps business of Westinghouse (1983) The Compact Disc was launched in 1983, while other landmarks were the production of Philips' 100-millionth TV set in 1984 and the 300-millionth Philishave electric shaver in 1995 The 1990s has been a decade of significant change for Philips The company carried out a major restructuring program to return it to a healthy footing And more recently it has been concentrating on its core activities Today, Philips is at the leading edge of the digital revolution, introducing worldclass products that are helping to improve pe people’s lives as we enter the next millennium Parts of the Whole Seven product divisions, many other competencies and participations make up Royal Philips Electronics Whether in homes, factories, offices, airports, or on the street, it's hard to imagine a place where Philips is absent Some of the products made by its seven product divisions are tucked away inside, like integrated circuits or CD drives Some of them are undergoing dramatic changes in their dimensions - think of the flat screen TV, which can hang on the wall Five of the world's top ten PC manufacturers sell monitors produced by Philips What Philips wants is to make your life and work easier With the Genie mobile phone, for example, you dial a number by just saying it aloud, while Philips' WebTV Internet terminal brings the excitement of cyberspace into the living room And on your travels around the world, whether passing by the Eiffel Tower in Paris, walking across London's Tower Bridge, or witnessing the beauty of the ancient Sphinx and pyramids of Giza, you don't have to wonder any more who lights these famous landmark Case Analysis: Philips Company Phan Hoang Minh Business Overview Case Analysis: Philips Company Phan Hoang Minh 2012 Top 50 Best Global Green Brand by Interbrand Best Improvement in Patient Safety 2012 – Philips iDose The Irish Medical and Surgical Trade Association acknowledged in creating a solution that dramatically reduces radiation Philips' efforts in CT scanning procedures without compromising image quality VBDO Responsible Supply Chain Management Award - Philips received the VBDO Responsible Supply Chain award for the fifth year in a row 2013 Crystal Prize - Philips received the Crystal Award (“De Kristalprijs”), Global 100 Most Sustainable Corporations in the World – Philips has been ranked number on the annual list of ‘Global 100 Most Sustainable Corporations in the World’ by Corporate Knights– up places from 2012 2014 Practice Greenhealth Champion for Change - Philips received the 2014 “Champion for Change” Award for delivering resource-efficient healthcare solutions to our clients and assisting them in improving their environmental performance Energy Star Partner of the year – CDP - Philips has been recognized as a world leader for corporate action on climate change For the 3rd year in a row, (CDLI) Dow Jones Sustainability Index (DJSI) - Philips is named the industry leader in the Industrial Conglomerates category with a score of 91 out of 100 points In addition, we have also received a Best in Class score in all three dimensions – Economic, Environmental and Social Case Analysis: Philips Company Phan Hoang Minh 10 Case Analysis: Philips Company Phan Hoang Minh QSPM Matrix 36 Case Analysis: Philips Company Phan Hoang Minh QSPM Matrix 37 Case Analysis: Philips Company Phan Hoang Minh STRATEGIC PLANNING FOR NEW HOSPITAL BUILD Philips Healthcare Transformation Services helps Inrusinvest deliver state-of-the-art healthcare Who/where Inrusinvest, a private oil and mining group in the the southwest corner of Siberia in Russia has the ambition to improve access to high-quality care in the Kemerovo region Challenge The challenge for this investment group – which has little experience in the healthcare sector – was to turn an unused building, initially constructed as a trade center, into a state-of-the-art medical center capable of serving the widespread population of Siberia Solution Philips consultants carried out thorough research and market analysis to help Inrusinvest develop a concrete vision and strategy that met their requirements Philips consequently developed a service model and conceptual design for the new facility Results Inrusinvest and Philips have collaborated to complete this project Philips solutions have been accepted and implemented The new facility opened its doors in 2017 38 Case Analysis: Philips Company Phan Hoang Minh Inrusinvest had a far-reaching goal when they began this project They wanted to convert a large empty building with no water, electricity, or heating into a modern healthcare facility Located in Novokuznetsk, one of the oldest cities in Siberia, this center would provide efficient state-of-the-art medical services to a population of 1.2 million people across a vast region Because Inrusinvest lacked a great deal of experience in the healthcare sector, they turned to an experienced advisor They turned to Philips consultants for their unique expertise in transferring broad international medical consulting experience and technology to a specific local setting with its own social, cultural, and legislative requirements The collaboration has provided the group with access to Philips strategic consultancy services They could deliver all the components needed to help Inrusinvest formulate a business model and conceptual design that is comprehensive and innovative – and most importantly realistic to achieve in the new build The group initially asked Philips to carry out a quick feasibility scan that included a market analysis, a high-level service model proposal, and a high-level assessment of using the building for a medical facility Impressed with the expertise on improving the clinical, operational, technical and financial performance of healthcare organizations demonstrated by the consultants, the work quickly developed into a full-blown project involving 12 workstreams responsible for all aspects of the project Market analysis The vision for the new hospital was to be an open, innovative private medical center in the city of Novokuznetsk to provide landmark healthcare services to the Kemerovo region To create a successful business model for this center, it was critical to understand disease patterns and the competitive landscape of the region Philips consultants assisted Inrusinvest in collecting key market information to identify key trends, treatment, and diagnostics methods, and the availability of specific services The market analysis identified key disease groups, which could help target the main patient flow for both inpatient and outpatient services Local citizens provided significant input to the market analysis A survey was conducted to capture information about their healthcare spending habits and their view on the availability of services and quality of care 39 Case Analysis: Philips Company Phan Hoang Minh 40 Case Analysis: Philips Company Phan Hoang Minh A detailed analysis was then done to correctly match supply and demand, as well as find appropriate price points for key services to calculate preliminary revenues A number of interviews with key regional clinics and healthcare authorities allowed the consultants to make a preliminary market forecast Market analysis of the region produced statistics of the local population and defined the potential need for healthcare services This research was used to develop the hospital strategic plan, the service model and the conceptual design for the new medical center Strategic plan Formulating the ambition of the medical center and making the right strategic choices was critical for its future planning Philips consultants initiated and conducted a strategy workshop with Inrusinvest management and the future healthcare leadership team During the workshop, the mission and vision of the medical center was formulated and key strategic goals were set Growth scenarios were identified and then prioritized by consultants before being fed into the Philips service and capacity modeling tools for further calculation and evaluation As a next step the strategic goals were transformed into strategic initiatives covering four segments: Markets and Patients, Finance, Processes & Operational Efficiency, Technology and Innovation Each strategic initiative led to a specific action plan that was cross-checked with the market analysis, the service and capacity calculations, as well as expert advice from Philips international experts The strategic plan provided Inrusinvest with a clear vision and high-level action plan for the next seven years to help them transition into a leading regional healthcare service provider with several connected centers of excellence and primary care units across the Kemerovo region 41 Case Analysis: Philips Company Phan Hoang Minh “As one of the global leaders in healthcare consulting, we engaged Philips for our project There were three components to the scope of their work: A detailed market analysis describing the most highly demanded medical services in the region and expected patient volume An economic model and unique business plan that facilitated our decision making on the feasibility of the medical center A service model, developed specifically by Philips, to help us understand the scope of the equipment and knowledge required to provide best-in-class medical services We continue to work with the Philips team Based on our experience with the Philips consulting team, we will certainly continue to draw upon their expertise after the medical center opens.” Dmitry Danziger, Chief Medical Officer 42 Case Analysis: Philips Company Phan Hoang Minh Conceptual design The initially executed quick-scan study had already confirmed the feasibility of turning the unfinished trade center of around twenty-five thousand square meters into a hospital Later, the detailed finance model created by Philips showed that the most effective way was to start the building by remodeling portion of the building (18,000 square meters) and wait to remodel the rest of the building as new healthcare services were added in the future Philips and partners developed the layout plans for this first design phase They took into account the calculated inpatient and outpatient flows and the hospital planning requirements They also drew upon the workflow efficiency expertise from Philips international experts to make detailed strategic plans for process and operational efficiency The new facility includes room for patient registration, triage and a radiology department with room for different diagnostic procedures including MRI, mammography and endoscopy The surgery department has five surgical suites with a 64-bed in-patient department and intensive care unit/ recovery with 14 beds Other facilities include a clinical laboratory and hospital pharmacy Philips provided conceptual designs, architectural and planning services, engineering services, medical equipment specifications, and interior design specifications 43 Case Analysis: Philips Company Phan Hoang Minh Opening doors By collaborating with Philips, Inrusinvest has realized its goal of putting a new approach to healthcare into practice in the region The modern hospital uses the latest medical technology to offer excellent service and medical care The new facility has opened its doors to the public in April 2017 Throughout this complex, multi-year collaboration, Inrusinvest has come to value Philips as a trusted and professional consulting adviser 44 Case Analysis: Philips Company Phan Hoang Minh Conclusion Philips is indeed one of the world’s top conglomerate companies Counterfeit products, competitors, economic recession, premium prices, and litigations are some of the main challenges Philips should utilize its resources to expand its business and product portfolio Product lines are critical to most companies in taking care of different market segments Proper managerial techniques should be applied in managing the product lines This could ultimately dictate the profitability of the whole organization Managing product lines involves thorough research and effective decision making These factors should be ultimately incorporated into the final decisions regarding management 45 Case Analysis: Philips Company Phan Hoang Minh References Philips n.d Portfolio | Philips Healthcare [ONLINE] Available at: https://www.usa.philips.com/healthcare/innovation/philipsventures/portfolio [Accessed 24 May 2022] Answers Ltd, A., 2021 Phillips Strategic Analysis [ONLINE] Available at: 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Analysis: Philips Company Phan Hoang Minh Philips Vrio Analysis 21 Case Analysis: Philips Company Phan Hoang Minh PHILIPS EXTERNAL AUDIT 22 Case Analysis: Philips Company Phan Hoang Minh Philips. .. regarding management 45 Case Analysis: Philips Company Phan Hoang Minh References Philips n.d Portfolio | Philips Healthcare [ONLINE] Available at: https://www.usa .philips. com/healthcare/innovation/philipsventures/portfolio... May 2022] Philips n.d Philips - Việt Nam [ONLINE] Available at: https://www .philips. com.vn/ [Accessed 24 May 2022] Philips n.d About us | Philips [ONLINE] Available at: https://www .philips. com/a-w/about.html