Electrolux Assignment on Strategic Management DOC

Title	Electrolux Assignment on Strategic Management
Author	Mohammed Alif
Pages	24
File Size	114.5 KB
File Type	DOC
Total Downloads	126
Total Views	254

Summary

Description

BRIEF HISTORY OF ELECTROLUX The origins of Electrolux can be traced back to the introduction of the vacuum cleaner, the invention of the absorption refrigerator and a marketing genius named Axel Wenner- Gren. Legend has it that Mr Wenner-Gren saw an unwieldy Santo vacuum cleaner in Vienna and went to work for them. When he had learnt enough, he went home to Stockholm, worked on his idea with colleagues and staff and presented the Lux 1, the world's first household vacuum cleaner in 1912. In 1901, AB Lux, Stockholm, was established. The company launches the Lux lamp - a kerosene lamp for outdoor use - which proves to be a tremendous sales success. The lamp was also used in lighthouses all over the world. On October 30, 1917, Elektron (In which Axel Wenner.Gren owns a large interest) purchases all the shares of Elektromekaniska. Wenner-Gren was elected member of the board of Elektromekaniska and likewise, Sven Carlstedt joins the board of Elektron. On August 1, 1919, an agreement was reached between AB Lux and Svenska Elektron AB (in which Wenner-Gren was the dominating owner) giving Elektron the sole sales rights to AB Lux vacuum cleaners. The agreement, which was valid through 1929, obligates Elektron to buy its vacuum cleaners from Lux and show Lux the manufacturer on all the vacuum cleaners. At the Annual General Meeting on August 29, 1919, Elektromekaniska AB (wholly 1 " P a g e...