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Lucent, for example, was hit hard when the technology bubble burst a few years ago. It was left holding the bag for a host of bankrupt customers. Holding on to outdated technology and the reticence to switch to newer technology also harmed the company during this stage. The management styles and ability of the company to make operational cost cutting decisions in 2001 also cost the company its bottom line.
Lucent however, has been able to survive in such a competitive environment due to its long history of commitment to innovation and providing cutting edge technology. Its market image is one of reliability and dependability. An educated and trained staff of over 34,500 also allows the company to move in a direction that can over the long-term offer substantial benefits and products to the market. (Hoovers, 2004) the sales growth for the past year (2003) was 6.8%; the net income was $1,141 million. Better historical data for predicting trends and shifts in the information technology market is also available for both top management and department heads. These can be used in planning strategies and goals for the organization.
Lucent is ranked at 243 in the Fortune 500. While the company has been facing problems, its competitors in the market are also encountering many of these problems as well. Internal rivalry in this industry is tremendous. Major suppliers in this industry control bargaining powers, and the customers are also very specific in their demands and needs. As technology is constantly changing suppliers and buyers expect tremendous flexibility from the organization. Mergers and acquisitions have created a number of 'mega-companies' with tremendous capabilities and resources. Fear of takeovers and...
Serious price competition and short life cycles of products has also eroded profit margins. The barriers to entry are also high. Deregulation of the telecommunication and communication networks systems also have created an environment where there is the fear of intense price wars. While operational barriers are high, barriers for innovation are low. Smaller companies with valuable knowledge bases are often able to deliver comparable products to the market in shorter periods of time. The industry requires very specialized and highly trained workforce at all levels of the organization, from the R & D. facilities to the manufacturing and distribution of the products manufactured by the organization. The industry is very competitive; and the constant stream of new and innovative products in the market can impact the image and the reputation of the company.
Bibliography
Hoovers. (2004). Lucent technologies. Retrieved December 3, 2004, from the World Wide Web: http://www.hoovers.com/free/search/simple/xmillion/lucent/--ID__46656 -- /free-co-factsheet.xhtml
Lucent-History. (2004). History. Retrieved December 1, 2004, from the World Wide Web: http://www.lucent.com/corpinfo/history.html
Lucent-Home. (2004). Fast facts. Retrieved December 1, 2004, from the World Wide Web: http://www.lucent.com/corpinfo/fastfacts.html
Ryan, Vincent. (2001). A second look at Lucent's earnings. Retrieved December 1, 2004, from the World Wide Web: http://telephonyonline.com/ar/telecom_second_look_lucents/
Yahoo-Finance. (2004). Competitors. Retrieved December 2, 2004, from the World Wide Web: http://finance.yahoo.com/q/co?s=LU
Bibliography
Hoovers. (2004). Lucent technologies. Retrieved December 3, 2004, from the World Wide Web: http://www.hoovers.com/free/search/simple/xmillion/lucent/--ID__46656 -- /free-co-factsheet.xhtml
Lucent-History. (2004). History. Retrieved December 1, 2004, from the World Wide Web: http://www.lucent.com/corpinfo/history.html
Lucent-Home. (2004). Fast facts. Retrieved December 1, 2004, from the World Wide Web: http://www.lucent.com/corpinfo/fastfacts.html
Ryan, Vincent. (2001). A second look at Lucent's earnings. Retrieved December 1, 2004, from the World Wide Web: http://telephonyonline.com/ar/telecom_second_look_lucents/
Yahoo-Finance. (2004). Competitors. Retrieved December 2, 2004, from the World Wide Web: http://finance.yahoo.com/q/co?s=LU
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