Hyland Company Manufactures Generic Products for Several Major Discount Chain

question 45

Essay

Hyland Company manufactures generic products for several major discount chain stores.Robert Hyland,founder and CEO,has always followed a strategy of producing low-cost standard products.Hyland now is facing foreign competitors who offer similar products with higher quality and more features (options)than Hyland's products.Although Hyland still offers the lower prices than its competitors,Hyland's net income has been steadily decreasing over the last three quarters.
Required: What should Hyland do?

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Definitions:

The Jungle

A novel by Upton Sinclair, published in 1906, highlighting the harsh conditions and exploited lives of immigrants in the United States in Chicago and similar industrialized cities.

Strategic Philanthropy

This refers to the practice of companies and individuals directing their charitable activities towards causes that align with their own goals and values, maximizing the impact of their donations.

Core Competencies

Fundamental strengths or abilities that a company or individual possesses, which are central to its identity and success.

Organizational Benefits

Advantages or improvements experienced by an organization, such as increased efficiency, employee satisfaction, or enhanced reputation.