Financial Crisis of Philips in 1990
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Refer the article https://businesscasestudies.co.uk/philips/making-things-better/introduction.html#axzz463iD7K11 and answer the following questions.
“There was a sense of complacency inside the company - ‘we will survive because we always have and we are Philips!’ The warning signs were largely ignored. Approaching 1990, the company was faced with a serious financial crisis, posing a real threat to the future of the business.”
The above statement became a catalyst for change, critically discuss this assertion.
Summary
This question belongs to management and discusses about the statement in the article “Philips -making things better”.
Word count: 1239
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