managing strategy

7/30/2019 Managing Strategy

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1. Introduction

The format of this study will be as follows: The study consist of two sections. In the first

sections, success or failure of three companies in the automobile industry and their

strategic Merger and acquisition (M&A) decisions and strategic alliances will be

evaluated by using six different companies and the main strategic reasons of these

moves are tried to analyse by investigating the overall strategy and achievements.

The second section will be the evaluation of the key competitive threats of Hewlett-

Packard and what types of threats the company will face in 2012 and onwards.

1.1 Automobile Industry

1.2 The Acquisitions of Swedish Volvo By Chinese Gelly

The Swedish car manufacturer Volvo which was owned by Ford, has been bought by an

unknown Chinese carmaker Gelly which is a cost effective car manufacturer in the

industry. As adapted from the Dolan and Matthew (2010), the definitive agreement has

been signed on March 28, 2010 which sale figure was approximately $1.8 billion. This

was one of the biggest acquisition ever by a company in China.

1.2.1 The Reasons Behind This Acquisition

1.2.1.1 The Intention of The Buyer (GELLY)

For a company which has an unrecognised brand image in terms of quality and price, it

is very attractive to have a brand image of a company like Volvo. This is because; Volvo

is a very well known luxury carmaker in terms of product segmentation, brand image,

use of technology and company culture. It might make a very good synergy in this

acquisition from the perspective of Gelly company.

According to the intention of Gelly`s chairman, Li Shufu, (1-2) the reasons are as

follows:

Getting the access of advanced technology via Volvo;

The fact that Volvo is the advanced technology user in the industry in terms of safety

designing and environmental technology. In addition to this, Volvo is known as the


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safest carmaker by many authority in the world. With this acquisition, Gelly might be

able to have an advanced product development process for the new car technologies.

To enhance the brand image of Gelly;

For instance Gelly will be able to gain prestige and also it will get a lot of attention from

social media with this acquisition. In this way, potential consumer in western countries

will already know the Gelly car brand even they have not used it. This action will

precisely help to expand in abroad in the future.

To demand high rate of profit with this acquisitions;

Every single organisation wants to increase their profit margin and so, the chairmen of

the Gelly was expecting windows of opportunity from Volvo for high profit margin

although Volvo was still losing money when the acquisition was made. This is because;Li Shufu believed that with the variety of models in Volvo, they can succeed and

increase their market share in the industry. Ultimately, as adapted from the Volvo sales

increase,Volvo group has done very well by returning to profit after the acquisition.

High enhancement of growing possibility in the Chinese market with Volvo;

From the Gelly`s chairman view, they can make a significant and faster growth in

Chinese market with Volvo and they can help Volvo to understand the market deeper

and better with this acquisition. And also they might promote the Gelly brand

internationally with the Volvo acquisition.

Development in the automobile industry in China;

Chinese automobile industry does not consider only domestically, it also eyes on

overseas expansion. For this reason, the government supports Gelly to acquire Volvo in

order to open overseas expansion and this acquisition will significantly enhance the

value of nation`s car brand. Therefore the Chinese government has supported this

acquisition actively.

Lastly, top of all these reasons the chairmen of Gelly , Li Shufu, dares to take a risk in

business world as an Chinese entrepreneurial leader.


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1.2.1.2 The Global Perceptions About This Acquisition

Although this acquisition is not a world shaking case in terms of scale for the worldwide

business, it affects important phenomena in the industry according to the past.

According to some authors, this acquisition has a significant impact on cultural and

political systems and economical developments in the world. The word of globalisation

gains meaning in terms of providing scope for buying and selling of products. For

instance The road of silk used to provide this connection between Asia and Europe.

In this century, through globalisation the worldwide export of western culture, living style

and products are distributed and emerging markets are occurred. In 2000s, most of the

industrial nations went into the recession, when Chinese industry has expanded. In

2009, exporting in China has surpassed Germany by becoming world`s biggest

exporter. According to many observers, China`s GDP will surpass the America in tenyears time and it will become the biggest economy of the world. Although the acquisition

of Volvo is relevant with this phenomena, Gelly will face many challenges such as

differences of culture, management styles and cost reallocation. On the other hand, this

acquisition will impact the increase power of Chinese economy. According to Chinese

perspective, this acquisition will act like a test case.

1.2.2 Gelly Company

Gelly is one of the four biggest independent car makers company in China. Gelly is

roughly the tenth biggest company in China. According to 2009`s sales figure is 326719units and the total number of employees are 12000.

Figure 1.2.2 The symbol of Gelly ( cited fromwww.gelly.com)
http://www.gelly.com/http://www.gelly.com/http://www.gelly.com/http://www.gelly.com/


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Figure 1.2.3 Gelly`s Production Locations in China ( cited fromwww.gelly.com)
http://www.gelly.co/http://www.gelly.co/http://www.gelly.co/http://www.gelly.co/http://www.gelly.co/


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Figure 1.2.4 The Recommended Prices of Products (cited from www.gelly.com)


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Figure 1.2.5 The Annual Sale Volume of Gelly between 1998 to 2009 (citted from

www.geely.com)

As can be seen from the figure 1.2.5, the sales volume was constantly rising and the

company had the biggest increase between 2008 and 2009 . Ultimately, it might be a

good time to take risk to acquire Volvo.


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Figure 1.2.6 Top Ten Automobile Manufacturers in China in terms of Market

Share in 2009 ( citted fromwww.geely.com)

In terms of market share of top ten players in China automotive industry, Gelly`s main

market is the domestic market according to figure 1.2.6. For this reason, they might

have goals for international growth in the market. Therefore, Gelly wanted to acquire

Volvo to be able to reach their global target.

1.2.3 The Process of Acquisition

The definitive agreement was signed on March 28, 2010 and worth $1.8 billion. Whilethis acquisition was occurring, Geely`s brand image has got many positive coverage

from international and domestic social media. As a result, Geely gained access for rapid

technological development in a near future.
http://www.geely.com/http://www.geely.com/http://www.geely.com/http://www.geely.com/


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1.2.4 The Company of Volvo

Volvo has a large variety of product in car industry. As can be known by many, The

sales price of Volvo cars is comparably high according to other carmakers such as

Geely.

Figure 1.2.4.1 Some of the Volvo`s models(citted from

www.volvocars.com)


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Figure 1.2.4.2 Volvo Sales between 2008 and 2009(citted from www.volvocars.com)

As can be seen from the sales volume of Volvo, they have a respective market share

proportion which is 0.6% and 1.5% in total. This figure has been very stable over the

years.


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Figure 1.2.4.3 illustrates the volume of Volvo annual sales in total between 2000 and2009 (adapted from Volvo annual report 2009)

The financial situation of Volvo has been negatively changed over the past years in

figure 1.2.4.3

1.2.5 Conclusion

As a consequence of this acquisition, this integration does not look very rational from

the point of accustomed wisdom because of different good specification, targetaudiences, company culture and language. On the other hand, in terms of having a

broad scope of market such as China and also the fastest growth of automobile industry

in China are encouraging aspects of this acquisition. Apart from all these opportunities

and threats, Volvo and Gelly should achieve the appropriate strategy in order to have a

good synergy of these two companies.

1.3 The Acquisition of British Jaguar by Indian Tata

1.3.1 The Company Profile of Tata Motor

Tata Motor used to be known as an engineering and locomotive company which was

called TELCO, and it is located in Mumbai, India. As reported by OICA data in 2007,

Tata group is the largest automobile and commercial vehicles manufacturer company in

India and its world market share in the industry is 0.81%. Tata motor is also the 19th

biggest automobile manufacturer in the world according to its sales figure in 2007.


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1.3.2 The Reasons Behind The Acquisition of Jaguar

Figure 1.3.2.1 shows some of the acquisitions made by Indian Companies.

Figure 1.3.2.1 Some Acquisitions Made By Indian Companies

According to Tata motors long term strategy, they tend to stabilise their position in the

domestic market and whereas they want to expand their business through international

markets by having acquisitions and strategic collaborations. As adapted from Tata

Group chairman, Ratan Tata, said, We are very pleased at the prospect of Jaguar in

order to be an important part of automotive industry. Furthermore, their action will be

keeping the identity of two brands intact in supporting their growth and competition bybenefiting from their expertise and experience.

According to the intention of Tata Motor, this acquisition will help the company to have a

global impression in the premier automobile market segment which this segment consist

of luxury brands such as Porsche and Mercedes. On the other hand, Tata motor has

made the cheapest car of the world which is called Tata Nano valued at $2500.


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Tata Motor is able to get the access for advance technology of car industry by entering

this acquisition with Jaguar. Ultimately, Tata can improve the core techniques of

production processes.

This deal of acquisition can provide a rapid enhancement for the recognition and

credibility of Tata motor products. This is because; eventually it might take a long time

for a company to be a world class iconic brand name like Jaguar in the automobile

industry.

As a British colony in the past India, from the Indian government`s point of view, it

seems to be an attractive choice to acquire a brand, Jaguar, which is an identified brand

name for British nation. It can be a good reputation for their brand image in the domestic

market.

1.3.3 The Company Profile of Jaguar

Jaguar is known as an iconic car brand of British nation in the automotive industry. They

have a reputation of luxury car manufacturer in the market. Designing and engineering

processes are carried out in Coventry, England. Firstly, it was acquired by Ford in 1989

valued at $2.5 billion. After that Jaguar has been bought by Tata motor from Ford in

2008 worth $2.3 billion.

1.3.4 The Process of Acquisition

The deal of acquisition has completed on June 2, 2008. From the perspective of Tata

group, this deal will positively decrease the dependence of Tata in domestic market. As

it refers to Morgan Stanley report, it seems to be negative for the Tata group in terms of

increase the earning volatility.


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Figure 1.3.4.1 Total sales of Jaguar and Tata Motors Price

Source:http://auto.indiamart.com/autoblog/tata-motors-increased-global-sales-21-in-july-2012.html

However, as can be seen from Figure 1.3.4.2 that the global sales rised with 21% on

July, 2012 , 101605 units which is over figure according to same period last year. The

sales of Jaguar is up at 26 921 units which is over the same month in last year.

1.3.5 Conclusion

Consequently, it seems to be successful acquisition in terms of companies` sales

figures and market shares. It is early to say that two company will cooperate in a perfectway and complete their adaptation to each other very well in terms of company culture,

sharing the latest technology and management style etc. Therefore, it could be said that

the probability of having synergy with this acquisition is positively high in terms of sales

figures and market share.
http://auto.indiamart.com/autoblog/tata-motors-increased-global-sales-21-in-july-2012.htmlhttp://auto.indiamart.com/autoblog/tata-motors-increased-global-sales-21-in-july-2012.htmlhttp://auto.indiamart.com/autoblog/tata-motors-increased-global-sales-21-in-july-2012.htmlhttp://auto.indiamart.com/autoblog/tata-motors-increased-global-sales-21-in-july-2012.html


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In order to have stableness in the market, Tata motors needs to spend effort on keeping

up with competition rather than pushing the volume of sales. Besides, it is difficult to

sustain the brand image of Jaguar against other premium pricing models such as

Mercedes, BMW etc. Lastly, Tata motors needs to focus on alternative markets such as

Russia,China and Middle East countries against US and European markets for Tata and

Jaguar.

1.4 The Strategic Alliance of Fiat and Chrysler

1.4.1 Fiat Company Profile

Fiat company is an Italian manufacturer in automobile industry and is located in Turin,

Italy. The company was established in 1899. Fiat was also engaged in the manufacture

of locomotive engines, carriages and aircraft. According to OICA data in 2009, the Fiatgroup was the ninth largest car manufacturer of the world and the biggest in Italy.

In 2009, Fiat was less affected by the economic crisis. This is because; the company

was durable in terms of financial statement and performance data. Therefore it might

be a good time to take risk by having deal of alliances with some others in order to

expand the business.


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1.4.1.2 Fiat Company SWOT Analysis

LOCATION OF FACTOR TYPE OF FACTOR

FAVORABLE UNFAVORABLE

INTERNAL STRENGTHS

Diversification in

business

Strategic M&A

activities

Products innovation

WEAKNESSES

Deficiency of scale

according to pers

Diluted performance

in dividing the

business

Having less

impression in

majority of markets

EXTERNAL OPPORTUNITIES

Capability of growth

in track markets

High demand of

agricultural

machinery and

equipment

Growth in

construction

industry

THREATS

Recession in 2009

Decline of global

automotive industry

Pressure of high

competition

1.4.2 Chrysler Company Profile

Chrysler is an American company and was established in 1925 in United States. The

company was in the statement of financial and economic crisis after 2009 and it wasgoing to bankruptcy after the acquisition failure of Daimler-Benz. According to Chrysler

group annual sales reports, sales of cars was 2.6 million in 1999 and in the year of 2008

sales figure has declined to 1.4 million. It can be clearly seen from the figure 1.4.2.1

that the company is not doing well so far with the acquisition of Daimler-Benz.Since

2009, Chrysler has a strategic alliance with Italian carmaker, Fiat, which Fiat is the

owner of stake majority in Chrysler group.


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Figure 1.4.2.1 Sales figures of Chrysler in the past years

(source: www.autointell.com)


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1.4.3 The Reasons Behind This Strategic Alliance

The meaning of this agreement for Fiat is to gain an opportunity for entering into the

U.S. market. In exchange for this, Chrysler will be able to use Fiat`s advanced

technology for its manufacturing process. However, for Chrysler, it does not mean that

this plan will entirely save the company. This is because; as can be illustrated from

figure 1.4.3.1, the US government also has effects on this alliance.

Figure 1.4.3.1 Modification of the strategic alliance between two companies

(Source: Integrative Agreements in Multilateral Negotiations: The Case of Fiat and

Chrysler)

The condition of finding a partner is specifically only way for Chrysler to use government

funds. Otherwise, they would not make returns for debts and so they had to go

bankrupt.

Fiat also wanted to have manufacturing plants in North America in order to use

resources in there. The reason behind of building up plants in North America is to

satisfy the demand of small car in the near future.


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On the other hand, the competition of automotive industry is intensifying day by day

,and so, Chrysler does not have plenty of choice apart from this agreement, this is

because; they need technical and financial support in order to keep up with competition.

Fiat has specialised in small car industry and their engines as well as the premier car

segment. Therefore, it can be a good opportunity for Fiat to reenter the U.S market with

an American brand name, Chrysler. It can be seen from the figure 1.4.3.2 that Fiat has

a rising trend for international markets. It might be encouraging reason for the Fiat

company to have this type of agreement to expand the business.

Figure 1.4.3.2 Sales trend of Fiat the last years(Source: Fiat Annual report 2008)

1.4.4 Evaluation of Strengths and Weaknesses of Chrysler and Fiat With The

Alliance

After this strategic alliance, Chrysler will be able to survive in the market and to save

itself from going bankrupt. Fiat will get a chance to set up plants for its small car industry

in North America. In addition to this, Chrysler can use the distribution channel of Fiat in

the European market and it will support Chrysler supply chain system. Fiat can enhance

its existence of the U.S market.

There might be some weaknesses of this alliance as well. In the near future, some

problems in integration of corporate cultures of the companies and in the share of

technology may occur. The discrepancy of company portfolios may pose problems and


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also distribution, ownership and management problems can be some of the

weaknesses of two companies.

1.4.5 Conclusion

Figure 1.4.5.1 Number of sold units between 2007 and 2012 (Source:

www.carsitaly.net)

Figure 1.4.5.2 The change of Chrysler`s market share between 2007 and 2012(Source: www.carsitaly.net)

According to the number of sold units, the strategic alliance positively affected Chrysler

group. This is because; the market share in 2012 also has a rising trend at 11.6 %

according to figures in the past. However, these figures should gradually increase
http://www.carsitaly.net/http://www.carsitaly.net/http://www.carsitaly.net/http://www.carsitaly.net/http://www.carsitaly.net/http://www.carsitaly.net/http://www.carsitaly.net/http://www.carsitaly.net/


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instead of being fluctuational. This means that this agreement still needs time to be

beneficial for both company.

Figure 1.4.5.3 Chrysler`s Market share change between 2007 and 2012

(Source: Graphing By Bloomberg Business Week, edmunds.com)

Fiat company needs to consider all these aspects and it needs to take risks wisdomly

for generating the synergy for this alliance.

2. Key Competitive Threat of Hewlett-Packard

2.1 Executive Summary

As per the recent announcement of world`s authority, Hewlett-Packard (HP) is the

world's 11th most valuable brand.

The HP brand name is applying to more than 150 countries by ensuring quality to its

consumers. However, over the last couple of years, revenues has increased but profits

went down, this is because; the company had worthless mergers by making overpaid

figures. That is why, the year of 2012 should be the recovering process for profit

returns.

2.2 Hewlett-Packard Computers and Its SWOT Analysis

In years of 90s, HP achieved a high product variety target, which targeted mostly

audiences from university students, researchers and businessmen. These activities

helped HP to lead the PCs market in the U.S. It has also supported its success through

acquisitions such as made with Apollo Computer in 1989 and Convex Computer in


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1995. Furthermore, HP has switched to online selling with an independent subsidiary

company which is called hpshopping.com

Figure 2.2 SWOT analysis of HP

(Source: economicsfiles.pomona.edu/jlikens/.../Likens2012/reports/HP.pdf)

2.3 Competitive Analysis of HP

The application of Porter's five forces can be found difficult in large corporations such as

HP. This is because; HP has six different business units. Out of these six units, the

focus area will be the division of Personal Systems Group (PSG) which covers PCs and

accessories for businesses and consumers. The PSG is presenting big challenge by

declining its revenues and margins.


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The application of Porter's five forces for HP's PSG can be illustrated from the figure

below.

Figure 2.3 Porter`s five forces for HP Personals Systems Group

2.3.1 Threat of New Entrants ( Reasonable):

The market of PSG is the one of the most competitive markets in the electronic industry.

The profit margin is very little because of high volume and the nature of products (mass-

manufacturing). Ultimately, these reasons caused decrease of revenues and margins

and so, HP has challenged to operate this market. On the other hand, the threat of newentrants is not high, this is because; the market is not attractive in terms of the amount

of revenues and high margins. Moreover, for becoming a member of this market as a

competitor( HP, APPLE etc.) there are a lot of requirements and massive resources.


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2.3.2 Bargaining Power of Buyers ( Reasonable):

Buyers have reasonable bargaining power for a couple of reason. The first one is that

number of buyers are many and they do not have enough power for synergistic effect

on HP`s margin. And also, HP or other competitors are able to meet customer`s

demand for their customisations such as functionality, features etc. The second reason

is that HP's PSG buyers (such as businesses and universities) are scale buying and

they can negotiate with HP by using their size and threaten its profit.

Figure 2.3.2 Customer satisfaction between Mac vs PC

(Source: American customer satisfaction index)

The users of PCs have more bargaining power, this is because; computer products are

more comparable and recognizable in terms of their commoditization aspects. As can

be seen from the figure 2.3.2 that buyers can distinguish which product is better than

another. As a result of this, brand loyalty is very low. For the overall picture, the

bargaining power of buyers is reasonable.

2.3.3 The Bargaining Power of Suppliers ( High):

According to the nature of business, electronic industry, the level of suppliers`sbargaining power is high in HP's PSG division. For instance, a PC or a laptop consists

of many parts and each part may require different company to produce for HP. Some of

the parts can be provided by large suppliers and some others can be done by small

companies. Strategically, having large suppliers are more advantageous for efficiency

and cost negotiations. However, majority of HP suppliers are small and this causes to


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have less competitive advantage for manufacturing their technologies and so, the

strategy of having small number of suppliers will be favorable for the company.

2.3.4 Substitutes ( Reasonable):

PC is the one of the most important consumer goods for last 20 years. However, it

cannot be said that they will not lose their popularity for the market share, especially in

the electronic market. Since, smart phones, mobile devices and tablets are penetrated

into market, personal computers have been losing their market share in electronic

industry.

Furthermore, because of mobile devices` functions and usefulness, they can be

complete substitute for PCs. According to sales growth, smartphones and tablets are

growing very rapidly while the growth of PCs and laptops are increasing very slowly.This impact also can be seen from the figure 2.3.4 below.

Figure 2.3.4 Sales of PCs and Mobile Devices

(Source: www.bwinparty.com)

According to these sales figures, the market share of PCs presumably will not stay

around if the strategy of mobile devices proceeds in this way.
http://theeword.co.uk/seo-manchester/pc_sales_decrease_as_tablets_rise_in_popularity.htmlhttp://theeword.co.uk/seo-manchester/pc_sales_decrease_as_tablets_rise_in_popularity.html


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Against this strategy, recently HP has taken measures by developing Touchpad and

acquiring the smartphone maker, Palm, valued at $1.8 billion. However, these

measures could not help Hp to compete against Apple and Android-based products.

2.3.5 Internal Competition (High):

As a consequence of having high power of supplier, moderate power of buyer,

reasonable threat of substitutes and reasonable threat of new entrance, the rivalry will

be strong. HP and its competitors have no option apart from competing with each other.

Six of the seven major personal computer manufacturers are using Windows operating

system and similar capability of hardwares. Therefore, their prices are very close to

each other. Apple is differentiating itself by using different operation system and

hardware and softwares and so specifically Apple can ask for higher prices.

Figure 2.3.5 Computers prices from 1997-2011

(Source: Bureau of Labor Statistics)

For the last two decades, the prices of PCs has a dramatical decrease in overall image.

For the short and long term planning, HP needs to form itself in order to be different

from its competitors as Apple has done.


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3.REFERENCES

Dolan, Matthew (2010). "Volvo Deal Sparks Leadership Shake-Up - WSJ.com"

www.gelly.com

OICA (2012)"World motor vehicle production by manufacturer: World ranking of

manufacturers, Year 2011".

"The Years 1989 to 1986". Jaguar Cars Ltd.. Retrieved 2009-06-19

http://auto.indiamart.com/autoblog/tata-motors-increased-global-sales-21-in-july-

2012.html

www.volvocars.com

OICA (2012) "World Ranking of Manufacturers 2009 by production".

Chrysler Group LLC Annual Sales Reports, 1999 -2008 International Journal of Business and Social Science Vol. 3 No. 12 [Special

Issue June 2012]

http://www.interbrand.com/en/best-global-brands/best-global-brands-2008/best-

global-brands-2011.aspx

"Hewlett Packard Co : Form 10-K". Shareholder.com. 2012

http://www.shopping.hp.com/notebooks

http://technologyuser.com/2009/03/31/brand-loyalty-by-mobile-pc-brand/

http://theeword.co.uk/seomanchester/pc_sales_decrease_as_tablets_rise_in_po

pularity.html

http://thegadgetfan.com/wpcontent/uploads/2011/07/Smartphone_Tablets.jpg?9d

7bd4

http://theeword.co.uk/seomanchester/pc_sales_decrease_as_tablets_rise_in_po

pularity

http://www.foxnews.com/scitech/2011/08/18/hp-kills-tablet-smartphone-pc-

divisions/

http://www.economagic.com/em-cgi/daychart.exe/form

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