BMG Garmin Analysis
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Transcript of BMG Garmin Analysis
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1/12/2015
BMG 1014
MANAGEMENTTopic:Shifting Direction
Page 262-263 | Chapter 8 Foundation of Planning
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Group 3 :
Nurul Asmira Bt Rozlan1131123131 Tengku Nur Ameera Bt Tengku Azlan -1131123132
Norsyahira Bt Baharuddin1141124606
Shanti A/P Selvakumar1131123034
Jessica A/P Philominraj1131121305
Lai Khar Yee1132702142
1/12/2015
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Summary
Global leader in satellite navigation
Making superior products for automotive, aviation, marine,outdoor & sports that are essential parts of customers lives.
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Integrates music, phone, gaming,
web & GPS into one unit
Free GPS apps
Reason
Smart phones
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The Changes that Garmin Made :
Launch 6 navigation-friendlysmartphones (Garminfone)
Introduce even higher-endmodels, comes with a fancymagnetic mount & bells-and-whistles map features (Nvi3597 LMTHD)
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Introduce speciallized GPSdevices
Introduce navigation Apps(Garmin Viago)
Partner with automakers to
embed its GPS
system in car dashboard.
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Question 1
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What role do you think goals would play in planning the change indirection for the company?
List some goals you think might be important.
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1/12/2015
The role of goals in planning thechange in direction of the company
Determines a course of action and aids them in preparing forfuture changes
Future state that the company strives to achieve Provide guidance and direction
evaluate and control performanceemployees
Resources:
http://www.referenceforbusiness.com/management/Ex-Gov/Goals-and-Goal-Setting.html
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Goals
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Increase product sales through alternative markets
Collaboration with automakers, aviation industry, marine industry.
Increase value and shareholders profit
Through increase in sales via the various collaborationsshareholders profit and value will be increase
Establish a need to ensure product existence
eg: via making it a requirement in automobiles product existencewould be able to be retained
Up to date in terms of technology to enhance product
capabilities
In house research and development department to keep abreastwith changing technological advances
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Question 2
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What types of plans would be needed in an industry such as this one?(For instance, long-term or short-term, or both?)
Explain why you think these plans woud be important.
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Garmin products in short-term plan!
Automotive
Outdoor
Fitness
Marine
Aviation
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Can invent many products as it can compete with upcomingtechnology.
Attract the interest of customers by creating new innovative productthat is essential for nowadays technology era.
Make the company survive with their competitors.
Why these plans woud be important?
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Question 3
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What contingency factors might affect the planning Garmin executiveshave to do?
How might those contingency factors affect the planning?
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The 3 contingency factors that affect theplanning of Garmin executives:
1) Environment Uncertainty
When uncertainty is high, plans should be more specific but flexible.
Plans need always updated to what customers desires.
As example: Garmins executive come out with idea to partneringwith automakers to embed the GPS system in car dashboard.
A company must be aware about the changes of technology.
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2) Length of Future Commitment
Plans should extend far enough to meet thosecommitments made when the plans were
developed.
Example : Garmin partnering with automakers tokeep stay in the market.
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3) Organizational Level
The level of manager whether he/she will be involved inoperational planning or strategic planning
Lower- level managers do operational planning while upper-level managers do strategic planning.
As managers move up through the levels of the organization
their planning becomes more strategy oriented.
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The level of a manager determines whether he orshe will be more involved in operational planning
or more involved in strategic planning.
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Question 4What planning challenges do you think Garmin executives face withcontinuing to be the global market leader? How should they cope withthese challenges?
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Resources
http://www.pcmag.com
http://www.garmin.com
Forbes
http://www.technologyreview.com
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Competitors
Quality
Price
Accuracy
Accessibility
Dynamic
EnvironmentPlanning must be specific
but flexible
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Competitors
Newtechnology
Dynamic
EnvironmentPlanning must be specific
but flexible
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2007 : Stock pickers predictedGarmin as the next Apple
Smartphones happened
CEO Min Kao told Forbes that hewasnt worried because of highbarriers to entry
2012 : Google free map navigationapp made available for freedownload in IPhone, 10 Million people
downloaded it in a day, almost as
many as the number that boughtGarmin GPS in a year!
Garmin sales shrunk by 15%, worthless than a third of what it use to be
in 2007.
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How they cope with new
tech?
Environmental scanning, knowing what consumer really want
Add more function ; With goodies like free traffic reporting, lifetime map
updates, and local search becoming commonplace Introducing even higher-end models like the Nvi 3597 LMTHD, which sells for
$379.99 but comes with a fancy magnetic mount and bells-and-whistles mapfeatures. It can tell you what highway lane to be in and will alert you to turnright at Starbucks, something that phones cant do.
Lower price ; They never been more affordable
Highlighting the downside of using smartphone as GPS ; Many thinks they'remore convenient than using a phone, because you can leave the PND in thecar, and not drain your phone's juice while on the road
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Outcome
CEO Min Kao said in a statement. This is a great way to
start the year; yet, we remain cautious regarding the PND
industry as much of our strength was related to global
market share gains. The revenue growth of our core
business segments of outdoor, fitness, aviation and marine
was 14%, highlighting the continued diversification in ourbusiness model. We continue to grow our research and
development investment in these segments, as well as auto
OEM, in order to capitalize on the numerous long-term
growth initiatives in each of them.
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CONCLUSION
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Thank you