Companies all over the world compete to be the top supplier of goods and services. The main factor that determines whether companies will succeed is the state of the economy at the given time. If the economy is in a state of crisis than the consumer is less likely to purchase goods and services from companies in order to save as much money as possible. W.W. Grainger, an industrial supply company, and North America’s leading distributor of maintenance, repair, and operating products and services, strives to find new ways to beat their competitor’s services and prices. In this essay I will be talking about W.W. Grainger’s history and how it became the worlds leading industrial supply company with branches and distribution centers worldwide. …show more content…
Lastly, I will also be talking about how Grainger uses performance evaluation within the company. W.W. Grainger founded by William W. Grainger, started out in 1927 as a wholesale electric motor and distribution business in Chicago, Illinois (W.W.Grainger inc, 2005). William established the company to provide an efficient solution for fulfilling business consumers’ needs. In 1928 the business was incorporated as W.W. Grainger Inc. Sale orders back in the 1920’s were made mostly through mail orders from catalogs or postcards that were given out to customers. To improve sales and customer service William Grainger opened the first Grainger branch in Philadelphia in 1933. By 1936 Grainger had opened a total of 15 branches across the United States (W.W.Grainger inc, 2005). William Grainger knew that by having actual Grainger stores it would increase his total sales and it would build a larger consumer base. In 1967, Grainger became a publicly traded company.
Organizational structure and control Since becoming public, Grainger has proven its ability to gain share, expand margins and generate strong cash flow through the economic cycle. The value creation opportunity for shareholders remains attractive given the highly fragmented market with a business model and strategy that speak to customers’ needs. Grainger is well positioned to generate attractive returns to
Assess the importance of the link between a healthcare organization's culture and its structure, relative to the successful implementation of its chosen strategy. Provide one example of such importance--or lack thereof--to support your position.
Strategic planning is important for all businesses because this is when they set there aims and will discuss how they can achieve that aim. These aims have to be realistic and the owners will discuss this with their workers. Some aims might be hard to get but executives will want their workers to push hard so that it can be achieved. Marks and Spencer’s aim was to be the best supermarket in Britain but the recession had affected them really bad giving them losses of over 100 million pounds. Currently they are making profits of 50 million pounds but it is nowhere near what they made a few years ago.
In 1927, William W. (Bill) Grainger started a wholesale electric motor sales and distribution business in Chicago which provided customers a convenient and efficient way to access a consistent supply of electric motors. A year later, the business was privately
Strategic Planning is one of the most fundamental factors in the success of an organization. This research project will discuss the importance of strategic planning as well as the different components of strategic planning. Many organizations fail to accomplish their goals and tasks due to the lacking of strategic planning. In order for their businesses to be successful, organizations need to be well informed about how the strategic planning process works.
The company that I have been working on opening in my hometown is called Little Rascal’s Resale. Although it is a large dream of mine to grow the company into a nationally recognized franchise; it is understood that the company will start with just one location. The one company will have simple make up that will only need five to seven employees. The employees will consist of a president and CEO, a general manager, a team manager, and two to four entry level store employees. The amount of employees is a small number but, as the store grows the number of employees that the store will need will grow as well. With a small amount of employees it is vital that all the employees must always
As the book goes on, Wysner talks about how the Japanese companies were always two steps ahead in their marketing department and were constantly changing. After the great depression, all the auto companies were struggling to make a profit. However in the 1970s General Motors had grown to such large proportions that it was slowly self-destructing from the inside out. Items like:
This paper basically focuses on examining organizational development and business strategy based on a case study of Skoda Company. The article begins with an evaluation of existing definitions of organizational development and a personal definition of this concept. This is followed by an evaluation of one of the strengths of Skoda Company and how the company can benefit from this strength. The importance of organizational development in light of SWOT analysis and strategic planning is also discussed.
StarCare Specialty Health Systems was founded in 1964 as a community mental health, mental retardation facility serving a 5 county radius adjacent to Lubbock, Texas. The complexity of the organization includes a strict hierarchy of authority, uses both vertical and horizontal communication, and has a centralized structure. Policies and procedures are written in compliance with local, state, and federal laws. There is an executive committee consisting of the CEO, CFO, two Co-Associate CEOs, Medical Director, and the Director of Quality Management. These six individuals, in conjunction with the board of directors, establish the program requirements that define its strategic intent. StarCare has a mechanistic design, exhibits all the characteristics of a bureaucracy, and follows a goal approach relating to obtaining the organization’s strategic intent. This centralized structure consists of 4 levels of management before lower level positions are identified.
Successfully operating a company requires an understanding of how that organization functions within and reacts to the marketplace. Evaluating competitive position, properly aligning supply to meet consumer demand, and strategies to increase profitability and grow the business all play into the success or failure of an organization. While there are a broad variety of economic concepts that play into these evaluations and decisions, this paper will focus on the following (X#) concepts and how they apply to Eaton and their business.
Strategic planning is one of the most important tools in any organization. The absence of a strategic plan in place an organization would have no known knowledge of how to complete their business objections within an organization. Strategic planning is defined in our text as a process that helps managers identify desired
Audrey Hepburn once said “nothing is impossible, the word itself says I’m possible!” (Bradberry, 2015). In strategic planning when an organizations leadership comes together to set priorities, strengthen operations and ensure employees are working toward a common goal it not only shows where the organization is headed, but the actions required to progress and test the organizations success at making the necessary changes. To make the strategic planning process work successfully leaders of an organization must be able to understand the importance of using the following interconnected leadership tasks of; understanding the context, sponsoring the process, facilitating the process, making and implementing policy decisions and pulling it
One company in Utah which stands out above others is the Sweet Tooth Fairy bakery. This bakery started out as a single bakery in Draper, Utah and now includes locations all over the state, such as shops open in Provo, St. George, Midvale, Orem, Salt Lake City, Layton, West Valley City, and Murray. There's even a new shop open in Scottsdale, Arizona, which indicates that the company truly has the potential to expand nationwide. Even though the field of bakeries is a truly congested and competitive, The Sweet Tooth Fairy bakery has managed to create some real innovation in the field, so that it stands far out from the competition. This is one of the main reasons for this company's success its creativity. As The Sweet Tooth Fairy website explains, "Forgetting ingredients or adding an extra pinch here and there is often how she discovers her most incredible delicacies. Her picturesque shops are beautifully filled with everything from cookies to cupcakes and anything in between. Young and old alike are drawn to her exquisite desserts that seem to have been created just for them." Thus, the creativity that this store has in creating baked goods that are one of a kind is a way to make all customers feel special.
Financial objectives relate to the financial performance targets management has established for the organization to achieve. Strategic objectives relate to target outcomes that indicate a company is strengthening its market standing, competitive vitality, and future business prospects.
Strategy literature offers many techniques and models suited for systematic strategic analysis. The SWOT analysis, the PESTEL analysis, the Five Forces analysis framework are the prime examples of techniques that can be adopted for strategic analysis. This assignment will use PESTEL and Five forces model to analysis the environment of CRH plc.
Organizations successful at strategy implementation effectively manage six key supporting factors : 1. Action Planning