RBV Analysis of the Whirlpool Corporation
With the current positioning of the Whirlpool Corporation in the world markets of various industries, an observer might be tempted to conclude that the success is based on its size and strategic positioning as a multinational organization. Having accrued majority of shares in a number of continental and regional markets, the organization has generated stable sale proceeds and profits. On the same note, to regard the organization as having achieved the goals and visions that were embedded in its inception manifestos has also become a common notion among analysts. However, these views could not be more wrong if the issue of resource based view evaluation comes into the picture. It is through this mirror that the true reflection of the resources from within the organization has propelled- and continues to do so- to the level of current achievement. Therefore, it is possible to note that innovation, product design optimization, globalization, research, brand development, and unique solution availability in the organizational cultures form the backbone for development (Studymode.com).
Throughout the history of the development of whirlpool, there is a notable aspect of resilience and versatility approach to the development. These two characteristics come from the inclusion of innovation, research, and keen understanding of the need of the market. Whirlpool dedicates part of its workforce for the implementation of each of these aspects as a way of not only creating a stable organizational culture, but also developing a flexible and versatile platform on which a customer is able to interact with the products. This is through the application of tangible and the intangible resources at its disposal. Coupled with this is the customization and provision of unique solutions to markets and individual as well as group of people according to the needs they bring as consumer demand. The challenge in this case lies in the ability of the organization to develop way in which consumer need are met fully through user-friendly yet unique products and services (Studymode.com).
These aspects of marketing strategies driving forward the core decision-making platforms bring forth the concept of brand development. The purpose of this kind of conceptual resource comes out clearly when posing the question on customer loyalty and self-marketing of the products as well as the organization itself. An organization seeking a strategic positioning and sustainable development needs to not only be patient with the implementation of viable long-term goals, but also establish a name for itself, which directs the markets towards its products, establishments, services or branches. Both the tangible and intangible assets that are based on machinery, intellectual properties, and skills as well as human resources play an important role in propelling the Whirlpool Corporation’s strategies. The following scheme shows the extents of use of the VRIO element of RBV to gain the stature of competitive advantage:
Another supporting resource to be viewed in this case is the aspect of organizational culture and human resource concerning aspects of globalization. Trade factors and global operation platforms form major parts of the multinational product marketing organization. The implication comes up more often, especially when resources, such as technology, human resource, and managerial systems are concerned. The current world of business has unique demands towards the process of developing ways of improving the business environment while using standard universally accepted procedures methods and items. In its endeavor to innovate through new technology, the unique products and business practices that Whirlpool Corporation comes up with adhere to the globalization factors (Studymode.com). On the other hand, it is also worth noting that the current strategic positioning as a multinational firm is supported by inserting the concept of globalization to the day-to-day operations. In this regard, Whirlpool Corporation comes out as having utilized its human, technological, managerial, brand development as well as the stakeholder resources to reach the current level of strategic positioning, as it continues with the sustainable development process (Studymode.com).
“Resource Based View” StudyMode.com. 08 2010. 2010. 08 2010 <http://www.studymode.com/essays/Resource-Based-View-380517.html>.