Company analysis of RIM
The report highlights on the financial performance of the company along with the impact of current strategy on its future performance. Research in Motion Limited (RIM) has experienced exponential growth which is followed by downfall. Thus, the report also encapsulates the requirement of company to re-invent in the unstable times and fight against their competitors for sustaining in the industry.
Strategy is formulated in order to fulfill a proposed vision. The vision distinguished a company from its competitors in a way that the former builds up its own competitive advantage. The strategy comprises the overall activities that are relevant in company. The success of the strategies depends on the proposal of a unique and enlightened vision along with the activities that are required to achieve the vision. It is observed in many cases in corporate world that if strategies are focused more on activities then the vision is lost. However, if the focus is given only on the vision then the operational parts are neglected which results problem across the board i.e. quality, personnel, poor productivity etc. The essential feature of strategy formulation is to cope up with the competition that is prevailing in the changing world. The strategic plans have helped the companies to combat with their rivals and reign in the market for long term.
The report highlights the strategic evolution in Research in Motion (RIM) by elaborating three strategic schools of thought. Ten strategic schools of thought were explained by Henry Mintzberg, Bruce Ahlstrand and Joseph Lampel (2005) that explained the strategic actions that should be taken by the companies in order to achieve competitive advantage. Among which three are chosen to highlight the strategic performance of RIM. RIM is a successful company in wireless communication industry. The company by employing successful strategies has made a significant place in the society. The report describes the financial performance of the company along with the impact of current strategy on its future performance. RIM has experienced exponential growth which is followed by downfall. Thus, the report also encapsulates the requirement of company to re-invent in the unstable times and fight against their competitors for sustaining in the industry.
The wireless communication industry is characterized by rapid changes in technology, emerging competitive environment and evolving industry standards. It provides the consumers with various choices and thus the product life cycle of the company is reduced to a great extent (RIM, 2014). The trend and the uncertainties that prevail in this industry have daunted the companies to formulate strong strategies which will help them to make their position stable. In order to achieve success in the competitive and uncertain market companies are bound to take unique decisions to ascertain a competitive position in the industry. Imitation is quite common in this industry and thus the companies should be careful enough to structure their products in such a way that it cannot be imitated. RIM being a part of this competitive industry have excelled globally by its wireless innovation. It has brought revolution in the mobile industry with the introduction of Blackberry wireless solution in 1999 (RIM, 2014).
Company analysis of RIM
|Domain:||Financial Performance Analysis|
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