What is the nature of Whirlpool's domestic and international business environments? What types of risk does the firm face?
Whirlpool business environment and its essential characteristics in the domestic market exude sheer ensembles of its belonging and dominance in the electronic and household appliances, given the 60 percent sales outcome that is generated from its domestic market alone or the region within North America itself.
Additionally, the huge sales revenue generated from a combined domestic and international market that stood a staggering $19 billion in annual sales for the year ending 2006 also explains the dominant stand of the company in term of sales and brand recognition in the international arena. Moreover, whirlpool also expedite its way into international market by acquiring Maytag Corporation way back in 2006, which have also lead a way towards the firm increased global demands, be it when it matter to products or international business that exudes innovation, and standardized products.
Add to it, international business environment of whirlpool post 2006 presents some of its solid statistical results with a sale outcome that stood at $19 billion for the financial year ending 2006, which also explains the increase in its overall market cap by 26 percent in the international arena.
But what is pertinent to whirlpool risky business situations is the cutthroat competition in the international market that results from change in global business environment. The notable risky fact is that domestic market have shown some uncertainty, that can be read loud and clear from lower profit margin, and changing needs and demands of domestic consumers that bore a challenge and dangers to the firm international business expansion and its processes that is yet to find a solid holding in the international arena, despite the acquisition of majors companies in Europe.
How can Whirlpool benefit from going international? What types of advantages can the firm obtain? What advantages acquired abroad can help management improve Whirlpool's performance in its home market?
By going international, Whirlpool can benefit tremendously given the scope that international business is known to provide, and whirlpool acquisition moves also provides a formidable factors towards standardization of products that can be absorbed from the innovation that comes with going international.
Thus, when it matter to marketing or in the very first case, production, exposure to international market through effective global distributional channels can also reduce the cost factors. Moreover, the opportunity cost from brand recognition in the global market is also very pertinent and comes as an advantage.
International business environment and exposure to different culture have a dominant role when it matter to Whirlpool management to get a hand on experience of market understanding. Innovation and product standardization also at best can be reaped from exposure to international market. Add to it, understanding consumer's sentiments and choice preference is also one advantage, apart from assembly operation and marketing that will benefit the firm, which accordingly can assists management in integrating comparative business process and management in home country and elsewhere that delivers results at all time, and to take leverage of innovation, standardization and stay ahead with a competitive edge.
What actions has Whirlpool management taken to ensure that the firm succeeds in local markets throughout the world? To what extent is the appliance business local/regional rather than global?
Whirlpool management and its action in the success of the company worldwide have reaped and integrate the benefits of innovation in the very first instance. What is specific to the firm innovative moves can be laid emphasis to its intranet facility that opened up windows for the flow of ideas and experimentation. With the rating system in place, management has also ensured that specific innovative idea are taken and relished into the next level. Last but not the least, management have ensured that firm success also depends of its offering of innovative products that should add values to consumers.
Whirlpool business is rather local than global in a sense given that stiff competition in the local market itself is hard to let go, especially from Haier, appliance manufacturer from China. By shifting its stands towards internationalization, something in between is also lost. And the company have to be focused enough to face the competition from MNC in the local market and their growing influence.
How can Whirlpool effectively compete with new rivals originating from low-cost countries, such as Haier from China? Should Whirlpool's response differ in its home and foreign markets? If so, how?
Optimizing cost structure has been one of the formidable factors that got the firm way ahead in its business. In the same tune, laying emphasis to the adage 'consumer is king' which the company is known to be and have practiced since long should effectively counterpoint competition from low-cost companies.
It do make sense that international business management and its strategy should follows a disciplined course, that is to say, marketing segments and its strategy in home and foreign market should be different in a sense that decentralized control can provide more scope to tap each market and it sensibility.
Thus, when it comes to home or foreign market, whirlpool international business process should integrate both side of the coins and reaping the benefits of differentiation in marketing strategy that responds to sentimentalism, culture and overall business environment in certain situations.
Taking a different approach to business at home and abroad through different marketing strategy can also enhances the image and credibility of the company comparative management and its brand recognition across international borders. Thus, it is preferable that the firm responses should differ on situations that are pertinent to internationalization, however; business philosophy should display a global outlook.
The "Careers" section at Whirlpool's website (www.whirlpool.com) advertises "opportunities you never knew existed . . . everywhere across the globe." Visit the site and report on the types of jobs available at Whirlpool and the locations of these positions worldwide. What positions interest you most? Would you like to work in Whirlpool's international operations? Why or why not?
Career section in Whirlpool website advertises different types of job which are prominent in manufacturing sectors. Some of the types of job are, Human resource managers, brand market operations, Engineering, finance, manufacturing, procurement, supply chain management etc. and most of these opening are for full time, where much of their opening locations are subject in North America and in the headquarter of the company. Job opening in Europe also finds relevance, With a relevant academic background in human resource, management role in HR is what interest individually.
Moreover, working for firms with such a caliber as whirlpool, that also in international operations would be a privilege indeed. Add to it, interacting with the best minds in the corporate world should add a valuable experience to learn from within and what can be experimented from international operation and its management, where an HR managers role in that front should also opened up a window of possibilities, and also in broadening the horizon in the professional ladder and lifetime opportunities.