Whirlpool Corp. Overview

Whirlpool Corp.

Introduction

Enlisted in the Fortune 500 company with over 21 billion USD as its annual revenue and a total number of 78,000 employees, Whirlpool Corp. is a leading company that specializes in manufacturing and supplying home-based appliances. With several notable feats and major milestones achieved by this behemoth in the home appliance industry, no doubt there are several interesting things to unravel about this Whirlpool. On the off chance that you are a keen lover of home-based products and appliances, or perhaps you have been looking for where to get comprehensive information about Whirlpool, or perhaps, your own situation is that you are looking at giving an established firm deeply rooted in the industry a chance to be your favorite vendor, then this piece is just right for you! This article will thoroughly address every necessary thing there is to know about Whirlpool which includes, but not limited to its historical snapshot, its mode of operation and management, its product listings, its pros and cons, et cetera. The objective of this article is, however not to overstate or understate the major aspects of the company but to present these aspects in a seamless and an easy to understand way.

Historical Snapshot

Whirlpool is a multinational company with branches scattered all around the world. The company was founded over a century ago, November 11, 19911. Its headquarters is located in Benton Harbor, the axis of Michigan, United States. Its founders include Louis Upton, an insurance salesman alongside his uncle, Emory Upton, both had conjoined together to put up the company which was first established under the name, Upton machine company. However, after a few years in the business, the company encountered an insurmountable roadblock which led to its closure of the company. Nonetheless, the ever-resilient Louis continued with his entrepreneurial pursuit without being bothered by the former failed business, he secured a patent right to own a manual clothes washer. Still not satisfied with complacency, Louis approached his uncle again, Emory Upton for his partnership, asking if he could modify the manual machine into an electric-driven product, his uncle obliged. Shortly after their success in this invention, they secured an investment worth 5,000 USD from a retailing executive named Lowell Bassford, and that marked the beginning of their break as they continued to produce electric-driven washing machines henceforward.

Upton landed their first-ever company client under the name, the Federal Electric Division of Commonwealth Edison. Initially, the company ordered 100 sets of machines but after discovering a technical downside of the ordered machines, the company rejected the machines which was later repaired by Upton. After the successful fixing of the gear fault, Federal Electric didn’t only accept the orders back but doubled the order, and that indeed marked another milestone for the company and a start of the expansion.

After the contract between the two entities expired, Upton headed further in landing another new client company under the name Sear, Roebuck & Co. Rightly after the contract the company delved completely into sales marketing of one of its products of Upton and began the sale of the wringer washers under the brand name “Allen”. In 1921, the move made by Sear in selling the wringer washers led to a massive increase in sales for the Sear company, and the company, without jerking around appointed Upton as its major machine washer supplier (Wikipedia, n.d.).

However, after a deliberate introspection, Upton discovered it would be worthwhile to start the sale of its own machine in order to avoid over reliance on other companies which might sometimes fail or not deliver up to expected standard. Thus, Upton began the sale of its own machines and that led to its complete break and boom. In 1929 after the company’s experience in increasing sales, Upton had to merge with a company under the name, the Nineteen Hundred Washer, and the company was re-branded with the name, the Nineteen Hundred Corporation.

In 1947, the company launched a spinner-washer which was first exclusively marketed by Sear, but a short period thereafter, the product was sold by the company itself under the brand name; Whirlpool. That then was where the name, “Whirlpool” originated from. In 1949, the company ultimately got re-branded with the name “Whirlpool” and in 1951, the company demonstrated its Corporate Social Responsibility (CSR), and with that, Whirlpool Corp. Foundation was established with the sole objective of providing social welfare for members of the society.

Notable Dates and Milestones

There are myriads of key and notable milestones in the company’s history, however, for the sake of brevity, the following lines will address them concisely.

19955 – The Seeger Refrigerator Company and RCA’s cooking range and air conditioner company were acquired by Whirlpool Corp.

1986 – A division of Hobart Corporation, KitchenAid was acquired by Whirlpool Corp.

1980 – 2000: Whirlpool Corp. began the sale of compact washers in India in 1987, and in 1989, the company again purchased the Bauknecht of Germany and the Roper brand. In the year 2000, the company purchases Ebranco, a Brazilian company that specializes in making compressors and refrigerators.

2004 – Whirlpool’s revenue surpassed 13 billion USD.

2007 – Whirlpool sold out Hoover, and closed its plants in Newton Searcy and Iowa

2011 – Whirlpool Corp. marked and celebrated its 100th year in existence

2017 – Whirlpool and Sear Holding Corporation ended their 101 years old collaboration and contract

2020 – A new Factory Distributing Centre in Tulsa, Oklahoma was announced to be opened by Whirlpool.

Major Brands

Whirlpool has several brands and products in its portfolio, however, the following are its major brands:

Polar

Whirlpool

Stinol

Affresh Washer Cleaners

Amana

Bauknecht

Challenger (Colombia)

Consul

Diqua (China)

Estate

Everydrop

Gladiator Garageworks

Hotpoint (Europe)

KitchenAid

E.t.c.

Business Model and Management

Two Model: Whirlpool is amongst those social-oriented privately owned companies that run a two-model system of operation–for-profit and non-profit business. With one of its focus latched on the goal of maximizing profit, and another focusing on improving social and environmental sustainability, Whirlpool had succeeded in making and establishing a business that thrives and by extension becomes an exemplary figure to other aspiring companies. Whirlpool’s mode of operation aside from focusing on profit maximization also thrives in the following areas:

 Diversity: Having over 78,000 employees across the globe under its umbrella, Whirlpool understands how culture and traditions may differ from person to person, and from country to country, hence, to justify this philosophical belief and to continue to make its environment a peaceful and mental-stress-free place for employees to work, Whirlpool formulated a policy that encourages diversity and respects all individuals’ culture, personality, and trait.

Social Charity: Charged with the need to give back to the community, Whirlpool had been proactive in its corporate social responsibility duties by encouraging and supporting several social and environmental programs within its factory and office locations across the world. It is, however, with the main aim of this social responsibility that the Whirlpool Foundation was established.

 LGBT commitment: As people differ in size and color, so does their sexual orientation differ sometimes, however, to maintain the position of neutrality and to avoid prejudice in all spheres, Whirlpool had pronounced its commitment to the LGBT community not to allow their sexual orientation deter them from working with Whirlpool or any of its affiliates. A typical example of this commitment was the 100% rating Whirlpool received on the Corporate Equality Index (CEI) which was released by the LGBT equal rights organization.

Energy conservation: Whirlpool pioneered a Smart Grid Investment Grant program tailored to improve and increase the conservation of energy. The company has thereafter been awarded a19.3 million USD funding support provided by the United States Department of Energy.

Financials

Revenue: 19.45 billion USD

Operating Income: 1.91 billion USD

Net Income: 1.08 billion USD

Total Assets: 20.35 billion USD

Total Equity: 4.19 billion USD

Pros

Whirlpool products offer several health benefits: Several health benefits like stress reduction, overall fitness, circulation improvement, et cetera

Training and education for its employees: Whirlpool ensures all its staff both in the white and blue-collar cadre receive sufficient and adequate training through its career transition policy.

Corporate Social Responsibility (CSR) pro-activeness: Hopping its game in delivering its corporate social duties, Whirlpool has helped several NGOs and other social-related organizations in the service of humanity, hence making the world a better place to live.

Quality products: All products emanating from Whirlpool and its affiliates are of top quality.

Eco-friendly and Energy-driven products: Since its inception hitherto, Whirlpool is committed to producing eco-friendly and energy-driven products which aid environmental sustainability. 

Cons

Although, it is true that human-made products are subjected to imperfection. Nonetheless, when such imperfections are less significant, therefore we may say the invention although not perfect, is close to perfection; such is the case of Whirlpool. Albeit some of its products have their imperfections, they are a normal phenomena and insignificant.

Conclusion

With all being said from the above comprehensive analysis and illustration, it’s obvious Whirlpool is a well-respected and renowned organization whose focus is not just to make a profit, but also by extension, to give back to the community through its Whirlpool Foundation Corporation and its policy which aids social responsibility. I hope you are able to absorb all the aspects of the company addressed in this piece which is specifically put together to aid your knowledge of the Whirlpool Corporation.