Unilever is a Dutch-British multinational firm headquartered in Rotterdam, Netherlands, and London, United Kingdom. It is one of the oldest and biggest consumer goods enterprises globally – only topped by Procter and Gamble and Nestle. The organization attracts various types of consumer merchandise brands in beverages, personal care, foods, and cleaning agents. With product presence in more than 190 nations, about 2.5 billion people worldwide use the corporation’s items every day, translating to nearly €52.0 billion in annual revenue turnover (Unilever, 2019). It has a strategic direction seeking to establish lasting value for the stakeholders (Unilever, 2019). Moreover, its visions of purpose-led and future-fit operational model can drive superior performance, resulting in consistent delivery of high financial performance.
The current strategy has immensely helped in placing the business at position 3 within the operating industry. However, a review of Unilever’s strategic direction would effectively prepare it to handle present and future needs while maintaining a positive growth trajectory. Therefore, a few changes in the strategic direction could be essential. First, the company can invest in further product diversifications to expand its product line for meeting the growing demand; for example, it can commence producing designer perfumes. Second, the business has a brilliant manufacturing record; however, it should contemplate product differentiation in packaging and other essential aspects, such as taste.
The management should also fully exploit and empower the research and development unit to provide better strategies for the company to ascend to better business heights. With the increasingly changing micro and macro business environment coupled with intense rivalry from other established brands, the cited changes are indispensable to help the company remain competitive while producing products that meet varying demands.
Reference
Unilever. (2019). Unilever annual report and accounts 2019. Web.