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Whirlpool The world is experiencing a third wave in the economy and many changes are taking place One of these changes is the ever-growing corporation that decides to go global Most US companies both large and small are rapidly acknowledging the necessity of global marketing The demand for foreign products in the fast-growing economies of Asia and other Pacific Rim nations offers one example of the benefits of global thinking One company that has adapted to this new economy by globalizing has been Whirlpool After a few months of becoming CEO of Whirlpool Corporation David Whitwam wanted to form a strategy to secure future company growth so he decided to meet with his senior managers and see what they could come up with During the early 1990s Whirlpool had become the market leader among US appliance makers however they did generate weak sales outside the US Whitwam and his management team had explored several options they could either diversify into other industries which would allow them to experience more rapid growth The team did decide that it would be best if they expanded the appliance business beyond North American markets The data of Whirlpool industry made the prediction that over time appliance manufacturing would become a global industry For decades Whirlpool had sold some appliances in other countries but only to the buyers who could afford them Whitwam however had the desire to establish a vision of a company that could leverage global recourses to gain long-term competitive advantage In the words of Whitwam this meant having the best technologies and processes for designing manufacturing selling and servicing your products at the lowest possible costs What Whitwam did first to transform a largely domestic operation into a global powerhouse was purchasing the European appliance business of Dutch consumer goods giant Philips Electronics The Whirlpool strategy called for reversing the decline in European market share and improving profitability and to achieve this Whirlpool
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