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In what mature industry did the entrepreneurial firm Method manage to change the rules and create...

In what mature industry did the entrepreneurial firm Method manage to change the rules and create success via sustainable strategies and design?

Home furnishings

Garden products

Consumer packaged goods

Transportation?
business   Operations-Management   
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Answer #1

Home furnishing industry had got into the mature stage. It has efficiently passed the emerging and growth phases of the industry lifecycle. The industry had got stagnant in mature phase, due to global competition from Chinese and German market.

To combat the stagnation, entrepreneurial strategies were adopted by these firms, which were focused on higher revenue growth. Small projects were launched to understand demand effect on market. An emphasis was laid on learning by doing. Thus, came the era of compact furniture as well as customized option associated with the products. This idea was well accepted by the consumers and the business of home furnishings ramped up once again.

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