Management Essay Example | Topics and Well Written Essays - 500 words - 17

Management - Essay Example When Perry Ellis acquired Munsingwear and the Penguin brand, it was presented with huge opportunity to exploit the brand in expanding its market as per the changing requirements of the customers. Foraying into new market requires adopting changes and promoting new ideas and values that can identify with the changing times. Thus, Perry Ellis who has acquired Penguin brand, needs to project new culture that that can meet the demands of the younger generation. The various stores and retail outlets that sell the new products with Penguin brand need to become more fashion conscious and state of the art technology to promote their products. Showcasing the history of the products would greatly promote the firms values and project their ideologies that are ready to embrace change. The corporate culture of new original Penguin clearly exhibits openness towards change that was lacking in the old brand. The various aspects of the interactive elements of the organization, which may comprise of diverse ideologies and personal conflicts of the individuals, work together to produce a cohesive output representing the organization’s unique culture. Organizational culture can be broadly defined through shared vision and collective goals of the organization. Hence, culture promotes flexibility of approach and initiative in decision making suit the changing requirements becomes vital part of organizational leadership. Therefore, organizational culture that is ready to adopt the changing values of the times, greatly facilitates brand to incorporate the changing requirements of the people while ensuring the credibility of the brand and quality of the product. Perry Ellis and Munsingwear primarily targeted the younger generation and diversified the product line to suit the changing demands of the demographic segment. They also used aggressive advertising to attract new market through intense media blitz, using celebrity