The Failure of Westinghouse Michael Moffett William E Youngdahl 2017
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The Failure of Westinghouse Michael Moffett William E Youngdahl 2017 In the year 2017, I had the privilege to participate in The Failure of Westinghouse Michael Moffett William E Youngdahl 2017, an international symposium on “Science of Flight” at Stanford University. There were a lot of famous scholars who presented their papers at this conference. Among them, I remembered the paper presented by Professor Michael Moffett. Michael Moffett is an
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I’m afraid you’ll be disappointed. Westinghouse was indeed ahead of its time. At the end of the day, the company failed because it failed to adapt to changing market conditions. It also didn’t invest enough in research and development. The problem wasn’t the product itself. Westinghouse developed one of the first electrical systems for a rotating mass, which is now used in everything from industrial processes to power plants. The problem was the way the company chose to market and distribute its products. Westinghouse spent too much money on
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Westinghouse was a major electric company founded in the mid-19th century. It was based in Pittsburgh, Pennsylvania, USA, which was the second-largest city in the country at the time. It is a company that is known for developing and producing innovative technologies that revolutionized electricity. However, a recent case study by Youngdahl and Youngdahl (2017) sheds light on how the company struggled with the of a product. (continued) Youngdahl and
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1. The Failure of Westinghouse The most important contributing factors to the company’s demise were: 1. The “Fortune” article which criticized the company’s management and production practices 2. Inadequate funding 3. Failure to anticipate the emergence of the electricity grid 4. Rising wages and poor management These factors combined to make the company’s strategy outdated and inadequate. The company became increasingly competitive, but its core competencies did not evolve.
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The BCG matrix is used to examine how different aspects of a company fit into the company’s strategy. The matrix is a useful tool because it helps identify areas of weakness and helps management develop a cohesive approach to improving them. The matrix is based on three dimensions: product, process, and people. A business is best understood using a matrix where it is easy to see the relationship between these three dimensions. For instance, a company might see itself as a “product company” which means it is primarily concerned with the production and sales of products. image source If
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I was once a successful businessman, but my company collapsed. I have to say that my success was built on a foundation of hard work and dedication, but my failure has taught me a very important lesson. My company went belly up, due to several factors including an unfavorable economic environment, a lack of innovation, and the wrong kind of leadership. In the past, I have seen that these things can happen to even the most successful companies, but I never realized how much they can ruin a person’s life. Now, I am devastated
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In a recent article published in The Westinghouse Engineering Company’s Blog, William Youngdahl stated that “The Great Westinghouse Electric Light and Power Company of Pittsburgh, Pennsylvania was created by the union of two separate but complementary companies – Westinghouse Electric Company and Edison’s International Electric Light Corporation” (Youngdahl 2017, para 2). click This was the birth of a massive engineering and technological giant that made significant contributions to the engineering of electricity. While the company achieved commercial success in electricity, it also