On the other hand, when understood as subsidiary of parent company Jarden Corporation, its scope is that of supporting Jarden in reaching its own financial, marketing and business objectives by strengthening the company's competitive position and increasing its financial results.
The growth strategy at the Rival Products Company is centered on the identification and satisfaction of the customers' needs and wants, with special attention to the features of the modern day society. The implementation of such a strategic position, combined with the efforts made in sustaining the achievement of the previously mentioned scope and objectives constitutes a clear and sustainable competitive advantage for Rival. Another advantage is given by its belonging to a greater organization, which provides support and specialized assistance in business operations.
4. The Pattern
Through the observation and analysis of Rival's strategic approach, a pattern can be identified in that the company is striving to unite all of its efforts to achieve the pre-established goals. Otherwise put, all business, marketing and corporate efforts intersect and become united to form a company which strives to satisfy its multitude of stakeholder categories. This strategic pattern is briefly characterized by the following elements:
An emphasis on product diversification
Attention towards international growth and increased emphasis on the strengthening of a global position
The creation and consolidation of a solid foundation, which can then be used to build on Innovation is also a core element which is continually introduced to increase the quality of the small kitchen appliances
Rival places emphasis not only on satisfying the needs of customers, but increasing the perceived value of their products in a means that their usage constitutes for a valuable experience
Internally, Rival is focused on improving its business processes through actions such as better financial control or stronger infrastructure (Jarden Corporation 2008 Annual Report)
5. Errors and Change
The large majority of the stakeholders are satisfied with their collaboration with the Rival Products Company. Nevertheless, there are some customers who feel discontent with the quality of the merchandise...
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