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Black & Decker Corporation Essay

2077 words - 8 pages

PAPERBLACK & DECKER CORPORATIONAmitBLACK & DECKER CORPORATIONBackground of the CompanyBlack & Decker was incorporated in 1910. Begun by Duncan Black and Alonzo Decker, Black & Decker's first power tool was an electric drill in 1916. They went on to develop and offer the first portable screwdriver, electric hammer, as well as finishing sanders and jigsaws all the way up to the hugely successful dustbuster in 1978.Over the next 70 years, the company established itself as dominant name in power tool and accessories, first in the United States and then accros a broad global front but particularly in europe. Growth was achieved by adding to its lineup of power tools and accessories and by increasing its penetration of more and more foreign marketsHere are some milestones of the Black & Decker Corporation:1910 Black & Decker was founded by Alonzo Decker and Duncan S.Black1917 Received a patent on the world's first portable power drill with pistol grip and trigger switch1936 Black & Decker shares began being traded on the New York Stock Exchange1989 B&D acquisition of Emhart CorporationSymptons, Issues and ProblemsIssues in this case is diversification strategy runned by Black & Decker corporation. As a diversified global manufacturer and marketer of household, commercial, and industrial product, Black & Decker need to develop and choose the right strategy for diversification.This case particularly discuss diversification of Black & Decker corporation during late 1980's to early 1990's, where Black & Decker which is established as dominant name in power tools and accessories, began to pursue diversification. It is because the continuing maturity of its core power tools business.During the 1980's Black and Decker had established themselves as a leader in the power tool industry. However, they were feels that the market for such tools was maturing to the point where expansion within the industry would provide little or no additional revenues so they decided to diversify.Black and Decker began their expansion operation by acquiring General Electric's housewares business, the leader in the industry, for $300 million in 1984. The success of the GE deal, and the reorganization efforts of their new CEO Nolan Archibald, led Black and Decker to continue on this path of acquisitions and diversification in other areas.Then, various acquisitions and acquisition attemp made by Black & Decker in their strategy to diversified. But the biggest and most noticed was the acquisition of Emrat Corporation, a diversified manufacturer of industrial product, for a $2.8 billion in March 1988. This steps is considered to be very bad decisions made by Black & Decker.AnalysisChange in strategyIn the mid 1980s, Black & Decker feels that the power tool market had matured to the point where there is no much room for further growth. Black & Decker then decided to change their corporate strategy from single business firm...

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