Question

Based on the report of "HTC decline into obscurity - Tech company experienced precipitous fall after rapid rise
Reference", what will be the drivers of success for the business turnaround for HTC in term of resource-based and institution-based?

Answer 1

EXPLANATION:

After witnessing rapid growth internationally, HTC, a Taiwanese tech company, was once a market leader for smartphones-but its time at the top proved brief. The company suffered a precipitous sales decline and soon vanished from the minds of many customers on smartphones. Management is now pinning hopes on a turnaround plan, though it will not be easy to correct fundamental business problems. HTC deteriorated at pace due to weak marketing, a confusing product selection, international competition, bad business decisions and other related factors. For a brief moment, the smartphone maker looked as if it would be a formidable global force; now the business is struggling to restore past success.

• Examines the viability of the turnaround plan.
• Assesses the impact of foreign rivals.
• Assesses the quality of strategy decisions taken by the leadership.
• Looks at how the company failed to adapt to a changing marketplace.

The important thing that the corporation should consider to get returned to marketplace and growth its income are taking proper decisions,planning a catchy advertising startegy to attaract more customers.Marketing encompasses no longer only determines purchaser need, it also helps create client need. It definitely starts offevolved with understanding your potential client.Successful businesses do not release products and then circulate on to new merchandise. They stay concerned with their cutting-edge products, constantly modifying and improving them. Apple has been specially adept at this strategy, with frequent updates of existing software, backed by means of extensive, clear information releases approximately the updates. This keeps customers concerned. Apple has one of the highest loyalty and customer pride ranking amongst all fundamental brands.

Decision making  helps to ensure that the business identifies many alternatives and solutions for the problem.It is important because it gives evidence that needs to be carefully analysed & the feasibility must be weighed: The managers and leaders need to carefully analyse the decision. The management needs to ensure that the team understands the product, associated services and unique selling points hence making it easier and more effective to implement the decision.It helps to take the right decision among alternatives: The management must choose and decide the right alternative.

The wrong choice of alternatives can lead to bad communication and in long run, a business will lose its customer base.The decision making helps in creating a solid plan of implementation/ moving to the actionable zone: Decision making is important as post analysis of pros & cons a decision must be selected and implemented. Having an action plan helps to implement the decision better and prepare management for any risk management.