Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
Setting up goals is the key to success in management. It is vital for planning because if the CEOs do not have a direction for where they want their companies to go, people will not be able to follow them. From the beginning, smartphones slowly occupied the market and replaced many gadgets and items. That is why one of the possible strategies can be not to compete with smartphone manufacturers but to use this tendency. To completely occupy the GPS market, Garmin can develop a GPS app and make it better than all other apps. Also, they can start producing smartphone holders for cars, as long as for bikes, and different types of transport. The main thought is to use circumstances to their advantage.
In my opinion, in this situation, Garmin needs to have several plans for different occasions. They should be able to change and have short-term specific plans, especially for problems like the COVID-19 pandemic. Companies need to stay flexible and adjust to stay relevant. The story of Kodak only emphasizes the fact that even the leader of the market can go bankrupt if they are not ready for changes. Also, the company should have long-term strategic plans to dictate the rules.
The world is full of surprises, especially in the business area. One day everything is stable, and the other day coronavirus creates one of the biggest world crises in every field of business. That is why every company must be ready for contingency factors and accurately build their work. However, the business can be affected not only by global issues like the pandemic or war but also by local problems. Many factors can involve planning, and companies should consider changes and think ahead.
As the global market leader, Garmin faces many different challenges. Specifically, one of the biggest problems for them can be innovative companies with better ideas. People always aspire to technology that makes their life easier. They must stay fresh and track technological progress and other areas. To keep the lead, they need to remain relevant and improve their quality with new functions, designs, etc.
References
Robbins, T. P. & Coulter, M. (2017). Management. Pearson.
Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.