● About Garmin:

- More than 14,500 associates in 65 offices around the world

- GPS navigation & wearable technology
- Vision: “ We think every day is an opportunity to innovate, and a chance to beat
yesterday”
( ref: https://www.garmin.com/vi-VN/company/)

8-18. What role do you think goals would play in planning the change in direction for the
company? List some goals you think might be important. (Make sure these goals have the
characteristics of well-written goals.)

- Problem:
+ GPS installed in the car’s dashboard → command with voice, no need to look at →
may cause accident while multitask
+ Decline in market share, revenue growth, overall commercial scale as drivers using
GPS systems in smartphones for direction and maps

- Goals: “breathe some life into the product”

+ New features
+ Better designs
+ More value for consumers’ money
+ Advancement in technology

- The role of their goals:

+ Know what they need to change exactly
+ Identify emerging trends → prepared to follow and respond to tackle with
issues
+ Put forward detailed plans & directions for workers to adhere
+ Completely serve the needs for the customers

8-19. What types of plans would be needed in an industry such as this one? (For instance,
long-term plans or short-term plans, or both?) Explain why you think these plans would be
important.
- Breadth: strategic
+ Apply to the whole organization & establish their overall goals( increase
revenue & cost efficiencies)
+ Service innovations=> could also benefit to future growth
- Time frame:
+ Short-term:
+ Could be completed within 1 year
+ Examine the existing competitor’s strategies and plans
+ Identify the needs and expectations of customers
+ Innovate and upgrade their dashboard
+ Increase awareness about the safe driving
=> catch up the new market trend and quickly adapt to the new market
environment, minimizing the decrease of sales.
 + Long-term plan:
+ Being the brand leader in the Asian market
+ Serving the best interest of stakeholders
+ Keep up with innovating & upgrade their product
→ Expand business
- Specificity: directional
+ No specific directions, flexible => suitable for technology business like Garmin
+ Allow the companies to take technological changes in stride and continue to
focus their efforts on
- Frequency of use: single-use
+ Doesn’t include policies/rules/procedures
+ To meet the needs of the company

8-20. What contingency factors might affect the planning Garmin executives have to do?
How might those contingency factors affect the planning?

- Contingency factors definition:

+ Something can’t be predicted/forecast in the future
+ Unexpected, out of control
+ Ex: natural disaster, economic crisis, new competitors in the market,..

- Factors:
+ Government regulations( tax, policies): might affect company’s profit
+ Market trends( especially in the technology industry): change oftenly=>
company need to prepare & ready to change when needed
+ Environmental uncertainty, especially in the marketplace: might affect the
company’s strategy -> Managers have to be prepared to change when
necessary and go with the flow
+ Put up with long-term objectives → exceptional motivation & transparent
pathway to the future
+ Continuous development to meet their own objectives → essential part of
keeping up with success over a period of time

8-21. What planning challenges do you think Garmin executives face with continuing to be
the global market leader? How should they cope with those challenges?
- Larger market:
+ More competitors are vying to be in their position
+ More requirements & new trends
+ Solution:
● Change & innovate continuously
● Develop your strengths & improve on your weaknesses=>
prevent giving competitors new opportunities
● Update on their competitors and anticipate what they might do
next instead of being caught off guard
- Larger staff crew:
+ Relationship between employees
+ Their work quality & efficiency
+ Their task completion
 + Solution:
● Increase engagement between managers & employees
● Managers give them periodic feedbacks
● Leading by doing
- New politics, culture rules:
+ Can be updated oftenly
+ Can have a big impact on the company
+ Solution:
● Stay updated
● Be ready to change when needed
● Flexible in management and production appropriate for each country.
- Change in environment
+ Utilize external factors filtering by screening data to recognize rising patterns
+ Be prepared to take after or move with those patterns

- Technology advancement:
+ Focus on innovation
+ Designs that are suitable for numerous different customers’ requirements