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Coping with Change

Every corporate strategy is undermined by change whether it is due to

1. Technological change
2. Societal change or
3. Fashion change

■ Mistake were not the speed of change but direction of change ■ Obviously a company has to adjust its strategy to take advantage of change when change takes place

There are five basic ways to do so…….

Five basic ways to react change are

1) A foot in both camps

2) A foot in new camps

3) Both feet in the old camp

4) Both feet in the new camp with a new name

5) Two separate camps, Two separate name

1. A Foot In Both Camps

■ Most popular and least effective way to react
■ It says
“we will just offer the new technology along with our existing line and let the customer decide” Example :-
1) Xerox
2) Honda ------ luxury car market.
(H. ultra, H. super,H. auto sci)
3) Toyota

2. A Foot in New Camp

This strategy says
“why not? If you are sure that a new technological development is bound to replace the old in the near future, why not jump in with both feet” ■ Focus the attention of your own people

■ Examples :-
1) Phillip Morris :-Marlboro in 1937 “Ivory tip, protect the lip” and “Mild as May” 1954, Leo Burnett in Chicago † Sex change operation 2) Bell sports

3) The Gap :- A Retailer of clothing for younger crowd 4) Intel

3. Both Feet in the Old Camp

■ It says,
“ one way to develop a unique position, to stand out from the pack is to resist change” ■ Example :-
1) Zippo Lighters -1932, george blaisdell...

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