What practices did Philips adopt that contribute to its success in strategy implementation? Select all that apply.
Philips is an old company that has developed core technologies and strengths over many years. Jeroen Tas mentions that Philips builds new products and solutions in a way that leverages their core strengths and technologies rather than create a new technology each time.
Jeroen Tas attributes Philips’ success partly to having true clarity of purpose. To him, this means that the company and all its employees understand what the company is about and what they are doing perfectly well. Therefore, this option is correct.
Jeroen Tas tells us that Philips defines actions in terms of 3 horizons: the first horizon represents the immediate short term (1 year or four quarters), the second horizon represents actions that can be taken 3 years, and their third horizon represents longer term actions that take time to see effects (7 years).
