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Strategic Management and Strategic Competitiveness

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Words 1942
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Assignment 1: Strategic Management and Strategic Competitiveness
BUS 499- Business Administration Capstone
Professor Clayton Sinclair III
April 17, 2015

Strategic Management and Strategic Competitiveness The company that I researched was The Clorox Company. The company was founded in 1913 and is a part of the household and personal care industry. According to (Forbes List, 2014), they are listed as number 98 on The Forbes list for the most innovative company and number 94 for the world’s most powerful company. They employ 8,400 employees and bring in a total sales of $5.65 billion. Clorox cleaning products consist of Tilex, 409, Pine-Sol, SOS, Clorox bleach, Formula 409, and Green Works. Their household products consist of Glad, Kingsford, Ever Fresh and Scoop Away. Their lifestyle products consist of Brita, Burt’s Bees, Hidden Valley and KC Masterpiece (The Clorox Company , 2014).
Assess how globalization and technology changes have impacted the corporation you researched.
The Clorox Company manufactures products in more than two dozen countries and markets them in more than 100 countries. Clorox products are available over 100 countries touching households and businesses in almost every region. They have consistently achieved competitive success while others failed to do so. Clorox Company international brands include: Agua Jane, American Heritage, Arco Iris, Arela, Astra, Bluebell, Bon Bril, Brimax, Clorinda, Emperatriz, Gumption, Handy Andy, La Negrita, Lemon Tok, Lestoil, Límpido, Los Conejos, Luminosa, Lustrillo, Mono, Mortimer, OSO, Pal, Pinoluz, Prestone, Primor, Rota, Sani Pine, Selton, Trenet, TruBlu, Ultra Power Yuhanrox and XLO (The Clorox Company , 2014).
There were three big changes in the past ten years when it came to globalization and technology. The first big change was globalization. Increased globalization “has driven increased legal implications of doing business worldwide on a nearly 24/7 basis”, according to Laura Stein, Executive Vice President – General Counsel for the Clorox Company. This leads to a more complex global regulatory environment, as well as enforcement trends and heightened penalties and fines for any corporate wrongdoing. Because of globalization, the stakes are higher (Labadie, 2015). The second change was driven by information technology. There’s a huge amount of information now, social media and other new forms of technology have expanded the need for privacy and other regulations. This has increased the demand for legal services that corporate clients are experiencing. Lastly, they have to provide services across borders and in a multidisciplinary, cross-functional way. In certain legal matters, they have to bring together a team that might include a litigation expert, a regulatory expert, and a privacy expert. They have to think through unintended consequences in a comprehensive manner more so than ever before.
When it comes to technology changes, The Clorox Company is always coming up with new and improved products. They are a large established company that is always trying to come up with new technology. Their newest innovation that is Smart Tube Technology. Smart Tube Technology is a built in tube that gets all the way to the bottom of the bottle so you don't have to. No more tilting, transferring or any other crazy maneuvers to get that last drop of the cleaning product. It's all about getting the full value of what you bought (Smart Tube technology , 2015). With technology changing, companies are coming up with different ways to help the environment with al natural chemicals. The Clorox Company came up with a line called Green Works. According to their website, Green Works sets their own very stringent standards to ensure that their cleaners are at least 99% natural (a.k.a. coming from renewable resources, being biodegradable and free of petrochemicals). They attribute the 1% to synthetic ingredients including a preservative and green coloring but are working to find alternatives to be able to claim that the line is 100% natural. (Is it Green? Clorox Green Works , 2014)
Apply the industrial organization model and the resource-based model to determine how your corporation could earn above-average returns.
The industrial organization model suggests that above-average returns are earned when firms are able to effectively study the external environment as the foundation for identifying an attractive industry and implementing the appropriate strategy. In 1957, Procter & Gamble Company (P&G) acquires Clorox Chemical Company and operates it as a wholly-owned subsidiary, The Clorox Company. The company remains headquartered in Oakland. The Federal Trade Commission (FTC) charged that P&G's acquisition of Clorox substantially lessened competition and created a monopoly in the production and sale of household liquid bleaches. (The Clorox Company Timeline, 2015). By doing this, it increased profitability in their industry. They acquired internal skills needed to implement strategies required by the external environment in order for them to succeed. The industrial organization model suggests that returns are determined primarily by external characteristics rather than by the firms’ unique internal resources and capabilities (Hitt, Ireland, & Hoskisson, 2013, p. 15).
The Clorox Company increased its international presence with joint ventures in Saudi Arabia, Egypt, the Yemen Arab Republic, Colombia, Argentina and Southeast Asia. The company signed agreements with Germany-based Brita GmbH and Canada-based Brita International Holdings to market Brita water filtration products in the U.S. They also expanded its presence in Korea through a joint venture with Yuhan-Clorox Co., Ltd. This company is named among the U.S.'s top 10 environmental leaders by Fortune magazine. Through a merger with First Brands Corporation, Glad, Scoop Away, Ever Clean, Handi-Wipes and Wash'n Dri brands join the product portfolio, nearly doubling the size of The Clorox Company (The Clorox Company Timeline, 2015). According to the resource-based model, differences in firms’ performances across time are due primarily to their unique resources and capabilities rather than the industry’s structural characteristics (Hitt, Ireland, & Hoskisson, 2013). This model also assumes that firms acquire different resources and develop unique capabilities based on how they combine and use the resources; that resources and certainly capabilities are not highly mobile across firms; and that the differences in resources and capabilities are the basis of competitive advantage. The Clorox Company’s products are often imitated but never duplicated. They were the first to use post-consumer recycled plastic and they were the first U.S. marketer to develop and nationally launch a natural cleaning line, Green Works, into the mainstream cleaning aisle.
Assess how the vision statement and mission statement of the corporation influence its overall success. The vision and mission statement of The Clorox Company is a simple slogan: “"We make everyday life better, every day" (The Clorox Company mission and values, 2015). Vision and mission statements influence the overall success of the corporation by informing stakeholders of what the firm is, what it seeks to accomplish, and who it seeks to serve (Hitt, Ireland, & Hoskisson, 2013). The slogan that they came up with states their long term vision for the future as well as their current mission. They strive to understand and delight consumers with brands that enhance their lives, as well as to make a positive impact in the communities where they do business. This is why they chose “We make everyday life better, everyday” as their mission and vision statement.

Evaluate how each category of stakeholder impacts the overall success of this corporation. Stakeholders are people who are affected by a firm’s performance and who have claims on its performance (Hitt, Ireland, & Hoskisson, 2013). There are three categories of stakeholders. They consist of Capital Market Shareholders, Product Market Stakeholders and Organizational Stakeholders. Capital Market Shareholders are shareholders and the major suppliers of a firm’s capital, whereas Product Market Stakeholders are the firm’s primary customers, supplier, host communities, and unions representing the work force. Lastly, Organizational Stakeholders are all of the firm’s employees, including both managerial and non-managerial personnel. Each one of these categories of stakeholders impacts the success of The Clorox Company. The first category of stakeholders are the Capital Market Shareholders. Just as consumers depend on the reliability of Clorox products, investors like that the company reliably returns capital to shareholders. Clorox was named a Dividend Aristocrat because they increase dividends every year for the past 35 years. If the returns are not what the Capital Market Shareholders want, they may take action to improve the governance oversight by the board of directors. The second category of stakeholders are the Product Market Stakeholders. Customers are a part of this stakeholder group as well as host communities which is why Clorox focuses on the consumer experience, innovating constantly to ensure that a Clorox product functions exactly as its end user expects. By meeting and exceeding expectations, Clorox has raised the percentage of its portfolio with strong consumer preference from 34% in 2007 to 48% in 2012 (What makes Clorox one of America's Best Companies , 2015). The power of the brand has allowed Clorox to become a "household name" in more ways than one, all while pouring resources into new product innovation and returning plenty of capital to shareholders. Clorox builds lifelong customer loyalty through attractive marketing and superior performance of its products, and the results speak for themselves: 90% of Clorox products rank first or second in market share in their category. The last category of stakeholders are the Organizational Stakeholders. All of the firm’s employees, including both managerial and non-managerial personnel belong to this category. This category of stakeholders impacts the success of the company by employees being treated right which in turn makes them work harder for the company to make them successful. Clorox also holds that an engaged and diverse work force is important to its financial performance, driving innovation and consumer satisfaction. Employee engagement, as measured by a third party, reached 88% in 2012, compared to a corporate average of 70% (What makes Clorox one of America's Best Companies , 2015). Work force diversity at Clorox does exceeds that of U.S. businesses as a whole, though only barely so in management roles. In conclusion, The Clorox Company has worked hard to build a very valuable family of brands, and its stewardship of shareholder capital and efforts to embrace sustainability deserve recognition. Clorox's strong financial performance is tied to its move toward embracing sustainability. Products with improved sustainability claims accounted for 40% of sales growth between 2007 and 2012, while strong reductions in water and energy consumption and waste and greenhouse gas emissions saved about $15 million annually in operations. They have consistently achieved competitive success while others failed to do so and will continue to achieve success in the future.

References
Forbes List. (2014, May). Retrieved from http://www.forbes.com/companies/clorox/: http://www.forbes.com/companies/clorox/
Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2013). Strategic Management: Concepts and cases: Competitiveness and globalization (10th ed.). Mason, OH: South-Western Cengage Learning.
Is it Green? Clorox Green Works . (2014). Retrieved from Clorox Green Works : http://inhabitat.com/is-it-green-clorox-green-works/greenworks6/
Labadie, C. (2015). Change, Diversity, and Value . Lumen Legal .
Smart Tube technology . (2015). Retrieved from https://powerabrightfuture.clorox.com/products/smart-tube-technology
The Clorox Company . (2014). Retrieved from http://www.thecloroxcompany.com/products/our-brands/: http://www.thecloroxcompany.com/products/our-brands/
The Clorox Company mission and values. (2015). Retrieved from Mission and Values of The Clorox Company : http://www.thecloroxcompany.com/company/mission-and-values/
The Clorox Company Timeline. (2015). Retrieved from Timeline of the CLorox Company : http://www.thecloroxcompany.com/company/heritage/timeline/
What makes Clorox one of America's Best Companies . (2015). Retrieved from What makes Clorox one of America's Best Companies : http://www.fool.com/investing/general/2013/02/27/what-makes-clorox-one-of-americas-best-companies.aspx

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