Micro Economic Paper Whirlpool

------------------------------------------------- The four economic concepts I employed in my explanation are: ------------------------------------------------- 1. Cost Control ------------------------------------------------- 2. Pricing Strategy ------------------------------------------------- 3. Fighting competition by innovation & branding ------------------------------------------------- 4. People ------------------------------------------------- I previously worked for the stand appliance industry Whirlpool Corporation for about 6 years. The corporate office of Whirlpool is in Benton Harbor, Michigan in the United States. Whirlpool transformed itself from a regional manufacturing and trade-focused commercial enterprise into a global enterprise, with more than 80,000 employees and over 60 manufacturing and engineering science research centers worldwide. In 2006, Whirlpool made an aggressive remove to strengthen its increasingly competitive global home-appliance industry by acquiring the Maytag Corporation for $2.7 billion. This move made Whirlpool the worlds leading manufacturer and merchandiseer of major home appliances, with annual sales of approximately $20 billion. However, Whirlpool is facing momentous economic challenges.

The US and Europe home appliance market have reached saturated penetration rates. Their population increment has been on a decline that means that the scope of future growth in these regions is limited. The burst of the bubble in the housing market in the United States and the global recession in 2008 significantly reduced the demand for home appliances. Whirlpool realized that in order to sustain growth, it needed to target areas of high population growth rates, which included the rapidly expanding economies and income of Asia and Latin America. Back in mid-1990, Whirlpool established a global presence into these emergent markets through significant financial investments and joint ventures. Unfortunately, the business race of... If you want to get a full essay, order it on our website: Ordercustompaper.com

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