Economic weakness and environment uncertainty have affected the financial performance of HP such as inventory management, revenues etc. Declining consumer and business confidence, decreasing access to credit, increasing unemployment and reducing consumer spending has also affected operations of HPHPEnsuring right forecast has become difficult for HP, however, to reduce economic uncertainty, the company focuses on historical forecasts. However, currency exchange rates, interest rates etc impact HP PC WorldFinance and executive committee regularly review a portfolio of businessIn 2008, defined Renewal and Transformation plan of business (Dixonretails, 2010)CometRevenues of a company have severely affected during the global financial crisisSocialChanging social patterns Changing living styles Changes in income patterns HPThe company believes that its revenues will be affected negatively if customers’ expectations are not met; therefore, new products are developed to meet their needsPC WorldMonitor mystery shopping collects customer exist data and purchase data for analysisFIVES customer service training for all staffContinuous innovationEasy navigation on a website (Dixonretails, 2009)CometCustomer oriented operations as evident from business strategy so that the needs of customers could be metTechnologicalThe technological developments and their trends are particularly high in this industryThe increasing demand for technology is offering more and more opportunities to companies operating in this industryHPThe business strategy of HP focuses on designing and manufacturing products which are according to the latest trends in technology and changing needs and desires of the customersTo meet the changing the needs of customers, a significant amount is being spent on research and development by HP.
In 2007, 2008 and 2009, HP spent $3.6 billion, $3.5 billion and $2.8 billion on research and development (HP Annual Report, 2009)PC WorldGood supplier relationship such as a partner with Apple iPads (Dixonretails, 2009)Store transformation and new tech in processesEmphasis on e-commerceCometOnline services, phone services and chat services.
Please type your essay title, choose your document type, enter your email and we send you essay samples