Need an research paper on effective performance of prudential securities and bridgestone firestone organizations. Needs to be 2 pages. Please no plagiarism. Case study Task Case Study Introduction Building strong business brand and prestige in the current dynamic economic world requires requisite capacity and relevant strategies. It is evident that any organization seeking competitive advantage should adopt better and relevant strategies aimed at fulfilling customer concerns. Currently, customers identify themselves with strong brands in the market which intern improve business prestige through wider market share and returns. This piece offers a succinct scrutiny of affairs as presented in Prudential Securities and Bridgestone Firestone organizations.
Why had the company found it so difficult to build prestige?
Prudential security is an investment bank that up to December 2000 had operated for 20 years. Its core business focused on both issuer and investor services to customers. However, because of stiff competition and poor strategy, the organization could not survive effectively in the industry and subsequently had to divest part of its product range (Canals, 2010). Its prospects failed ideally due to bad strategy and execution of its mandate in the financial sector that require explicit and dynamic decisions. This is keen to addressing business matters. As explained, the cooperation did not have strong and relevant synergies capable of building its effectiveness. Consequently, the bank also failed to offer other major services beyond issuers and investor services to clients who always expected extra services (Canals, 2010). In such an environment, the bank needed to adopt clear policies and differentiation tactics that would build its image in the entire industry and on clients.
Was the decision flawed or not
In the global business arena gaining competitive superiority and growth is based on organizational key incentives that are invested to compel the idea. The decision to undertake any business venture has consistently not been considered flawed, even business scholars and successful managers asserts that, its execution is paramount (Lavelle, 2011). The bank clearly through its management failed to adequately practice strong cooperate fiduciary functions. This could have ensured proper integration of its services and management. Therefore, the business simply failed because of poor and inconsistent execution of vital business aspects that could have catalyzed its competitiveness.
In the tire sector, earning business prestige as a prudent and effective product provider is paramount for sustainable performance especially in recent days when the sector is increasingly becoming more volatile (Sobel, 2002). Consequently, any successful gains and performance is much dependent on product portfolio, accurate strategies and balanced resource distribution to the respective business units (Lavelle, 2011). Bridgestone Company, which is a tire making company, needed to build its image by ensuring production of quality and standardized tires capable of providing value to customers. In the tire industry, quality is a differentiating aspect that significantly influences purchasing patterns (Sobel, 2002). To gain this, clear production strategies and standards must be adhered to adequately with an aim of addressing customer concerns without hazardous impact. The recall of Bridgestone tires was one unfortunate event the harshly dented their image thereby losing many customers. However, this was caused by production lapse and poor supervision by relevant coordinating authorities as explained in the CEO’s apology. Additionally, lack of sufficient regard to customers outside US also dented their image further since adequate initiative to inform them about the risk was not done (Lavelle, 2011). Brand identity and name is therefore very significant that an established organization should not contemplate. It causes customer withdrawals hence low returns that may be detrimental in the long rung for the business. However, the organization can effectively counter this by employing effective and promising diversification strategy to help capture market share with good returns.
It is evident that effective performance of any business unit is dependent on how organizational core strategies are undertaken. This would ensure competitive advantage and strong brand development towards building a sustainable business capacity and prestige.
Canals J. (2010). Building Respected Companies: Rethinking Business Leadership and the
Purpose. New York NY: Cambridge University Press
Lavelle C. (2011). Legislating International Organization: The Us Congress, the IMF. New
York NY: Oxford University Press
Sobel C. (2002). State Institutions, Private Incentives, Global Capital.