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  • Background Note: 1891-Founded in by Gerard

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    Founded in 1891 by Gerard Philips, Philips began as a marketer of carbon filament lamps and emerged as one of the largest producers of lamps in the 1920s. Throughout the 20th century, Philips diversified its product range, achieved technological breakthroughs, acquired companies like Magnavox and Signetics, but also struggled during economic downturns such as the Great Depression and restructured in the 1980s and 1990s to reduce its workforce and business divisions in response to losses. By 2005, Philips had streamlined into a more focused organization with 3 divisions and over 121,000 employees operating out of 130 sites in 26 countries.

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    Founded in 1891 by Gerard Philips, Philips began as a marketer of carbon filament lamps and emerged as one of the largest producers of lamps in the 1920s. Throughout the 20th century, Philips diversified its product range, achieved technological breakthroughs, acquired companies like Magnavox and Signetics, but also struggled during economic downturns such as the Great Depression and restructured in the 1980s and 1990s to reduce its workforce and business divisions in response to losses. By 2005, Philips had streamlined into a more focused organization with 3 divisions and over 121,000 employees operating out of 130 sites in 26 countries.

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    19 views4 pages

    Background Note: 1891-Founded in by Gerard

    Uploaded by

    chandnioptom
    Founded in 1891 by Gerard Philips, Philips began as a marketer of carbon filament lamps and emerged as one of the largest producers of lamps in the 1920s. Throughout the 20th century, Philips diversified its product range, achieved technological breakthroughs, acquired companies like Magnavox and Signetics, but also struggled during economic downturns such as the Great Depression and restructured in the 1980s and 1990s to reduce its workforce and business divisions in response to losses. By 2005, Philips had streamlined into a more focused organization with 3 divisions and over 121,000 employees operating out of 130 sites in 26 countries.

    Copyright:

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    of 4

    Background Note

    1891- Founded in by Gerard


    Philips & started as marketers of
    carbon filament lamps

    1990’s -Emerged as one of


    largest producers

    1920’s -Diversification of
    product range

    1930’s -Philips affected by Great


    Depression &started searching ideas for
    saleable products (45,000 employees)
    Background Note

    1950’s &60’s - Breakthroughs achieved


    & Technological Development

    1972 - Music Company


    Polygram established

    1970’s - 2 companies acquired


    Magnavox & Signetics

    1980’s - Restructuring, reducing


    wokforce, etc.

    1996 -Ineffective, overstaffed organization


    running in losses (2,74,000 employees)
    Background Note

    1996 - Restructuring, Job cuts,


    outsourcing

    1999 - Reducing business divisions


    (11 to 8)

    2000 - Reducing business divisions


    ( 8 to 6) & profits made

    2001 – 02 - Huge losses, focussed on


    Healthcare

    2004 - Acquiring companies

    2005 - Focussed organization (no.of


    divisions – 3)
    Background Note

    2006

    Number
    of Global
    employe organiza
    es tn
    121,700

    130 sites in 26
    countries

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