Polaris Industries Case Study
What was once a garage-operated business and now an international market leader, Polaris Industries has shown how a corporate life cycle occurs and more importantly successful strategy development and implementation. With all businesses, the organizational life cycle is the development of a business from start to finish. There are different views on the number of stages in an organizational life cycle. Just In Time Management states that are seven life cycle stages, while Product Arts claim there are five stages (Janssen, 2014). This paper will reflect on the five stages of the organizational life cycle; Start-up, Growth, Maturity, Revival, and Decline (Vendetti, 2010). The first stage of an organizational life cycle is the start-up stage.
…show more content…
Recently, Polaris Industries has evidence of becoming more cost efficient by consolidating two manufacturing plants (Polaris Industries, Inc, 2018). Due to the costs and poor sales, Polaris has decided to end production of the Victory motorcycle line (Polaris Industries, Inc, 2018).
To maintain a successful business in the maturity stage, a company should ensure they fully implement their strategy across the business. Strategy implementation describes how the company will meet their goals and objectives. In order to successfully implement the strategy, leaders must review three common implementation errors. Dunlop, Firth and Lurie state the three errors are that key leaders can fail to translate their vision to lower management, lack of adaptability due to conditions changing, and failure to provide conditions that allow for change in strategy (Dunlop, Firth, & Lurie, 2013).
Strategy makers should consider how they communicate their vision to all their employees. To ensure success, the goal must be clear and specific without limiting employee ingenuity. Another consideration is to implement a strategy that is flexible to unexpected conditions and isn’t based on to that specific time in the marketplace. The strategy must be sustained in order to prevent reverting back to the original techniques (Dunlop, Firth, & Lurie,
Recently, Polaris Industries has evidence of becoming more cost efficient by consolidating two manufacturing plants (Polaris Industries, Inc, 2018). Due to the costs and poor sales, Polaris has decided to end production of the Victory motorcycle line (Polaris Industries, Inc, 2018).
To maintain a successful business in the maturity stage, a company should ensure they fully implement their strategy across the business. Strategy implementation describes how the company will meet their goals and objectives. In order to successfully implement the strategy, leaders must review three common implementation errors. Dunlop, Firth and Lurie state the three errors are that key leaders can fail to translate their vision to lower management, lack of adaptability due to conditions changing, and failure to provide conditions that allow for change in strategy (Dunlop, Firth, & Lurie, 2013).
Strategy makers should consider how they communicate their vision to all their employees. To ensure success, the goal must be clear and specific without limiting employee ingenuity. Another consideration is to implement a strategy that is flexible to unexpected conditions and isn’t based on to that specific time in the marketplace. The strategy must be sustained in order to prevent reverting back to the original techniques (Dunlop, Firth, & Lurie,