Question

Please Read the scanned case of Philip NV, and answer the following questions for your assignment.

1. Please briefly describe your understanding of the company and its changes from the last past decades.  

Answer 1

Answer:1

Our understanding of the Philips Company and its changes from the last past decades as below:

Philip is an company engaged in the home electric appliances, lighting and medical equipments etc. in the global market and have been in the business for more than 125 years so far. The Company was founded in 1891 by founder Gerard Philips and Frederik Philips, Its head quarter is in Amsterdam, Netherlands. It has currently more than 100K employees in the global market. The area it serves is the global market. This company has high focus on the innovations and creativity.

Philips company’s major changes from the past decades to meet the market requirements and get competitive edge in the market is as below

• 1891 – the factory was founded with initial products.
• 1912 – Light Bulbs were produced and marketed by Philips in the market.
• 1920 – Philips started the manufacturing of the Vacuum Tubes products.
• 1939 – Philips started introducing the electric laser in the market.
• 1949 – Philips started selling the television sets.
• 1963 - Introduced the compact audio cassettes, tape, radio recorder,
• 1982 – Launched compact disc in the market
• 2000 – Philips started Optiva Corporations in their operations.
• 2011 – Acquired India based kitchen appliances company – Preethi Company.
• 2015 – Acquired Volcano Corporation.