The Analysis Of Business Strategy and Objectives Of SONY

Business Strategy

About Sony Mobile Corporation (SMC) Found in 1945. • First pioneer of transistor technology in 1950. • Merger of two different organizations “Sony” and “Ericsson” have • developed a new corporation “Sony Ericsson”. Technological revolution in mobile industry is one of the major • objectives of this merger.

A: Mission statement and Company’s vision To initiate as a leading company of electronics. • To enhance the broadband network. • To foster the use of home electronic appliances and wireless mobile phones. • To create a stress free working environment for workforce. •

Core Competencies Technological advantage enables to create a unique image. • Provide customers with the latest demand. • Differentiation strategy for developing core ability. • To provide the products after research and development customers. to • To position itself different from competitors. •

Cont.. Cost leadership strategy: To perform the work with low cost. • To produce the products that can be sold at lower price. • To win competitive advantage. •

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Objectives of Sony To attain competitive advantages to sustain in the mobile industry. • To increase the sales and profitability of organization. • To increase the investment amount in research and development. •

Strategic Planning Process

Techniques for strategic planning

B) Key factors of Sony’s successful strategic planning Leader in product innovation and quality • Investment in broadband network • Investment in internet enabled products • Strong brand value • Promoting world class brand • Fosters dream • Innovation • Research and development •

C) Effectiveness of techniques used by SMC for developing strategic planning These techniques help in considering different factors which are important for attaining the goals and objectives. • Effective for analysing strengths and weaknesses of organization. • Effective in developing strategy for cost reduction. • Helpful for developing tactics for the product standardization. • Focus on different strategies for improving quality. • Improve understanding. •

Strategic positioning

Strategic Positioning of Sony New and innovative products and services for customers • High quality assurance • Technological advancement • High marketing and advertising of products and services • Hiring experienced and skilled employees •

Environmental Audit 1: PEST Analysis Political factors • Rules and regulations of government • Legal restrictions and different laws Economic factors • Analysis of demand and needs and requirements of customers • Growth and development rate Social factors • Taste and preferences • Changes in perception • Income and level of status Technological factors • Latest and new technology • Innovative and new technologies

Cont.. 2: Porter’s Five Forces Model

D) PESTLE Analysis of Sony Political: Government plays a major role in the growth of any company. Hence focus is given by management of Sony on government acceptance and permission to work out globally. • Economics: Sony’s sales and revenues are generally affected by recession in an economy and thus, any affect in the economic condition affects the business too. • Socio-cultural: With the successful innovation of Sony’s product, the most beneficiary sector is mass. The generation is highly admirer of this change that goes well with the reasonable price change. • Technological: Sony needs to be cognizant with the truth that other companies are able to copy its technology and moves accordingly. Thus, it spoils the margin of technological advancement. •

Cont.. Legal: commercialization and protection have given Sony an important source of comparative advantage of firms. Intellectual ownership of property and right with • Environmental: environment where consideration is given on doing work without harming environment. Company works in maintaining its sustainable •

E) PORTER Analysis of Sony Threats of substitute products(Low): Considering Sony’s brand image and strong customer loyalty, it can effectively position its products against substitutes to some extent which is the surplus for company. • Bargaining power of buyers (low): Since there is no chance from customer’s side to switch to other brand than Sony, thus, it is beneficial for the company. • Bargaining power of suppliers (Low): Due to increased number of buyers, the supplier is facing the problem of global supply chain. •

Cont... Threats of new entrants (Low): As a new entrant, the players need huge capital and investment, thus the margin is generally very low. Intensity of Rivalry (High): It is because of intense competition and high cost. • •

SWOT Analysis of Sony Strengths • SMC’s quality • Worldwide reputation • Creative and innovation • Brand strength • Product differentiation • Quality • High technology • Ability to giv high motivation to its employeese • High market share Weaknesses • Competitively high prices • Long delivery process • High shopping • International expansion • Sony’s plant located in inconvenient location • Picture industry • Considerably expensive Opportunities • International market penetration • Emerging market economies • Acquisition strategy • Alliances strategy • Network initiative • Wide over success Threats • Short product lifecycle • Imitation of brand image • Imitation of technology • Strong market competition • Global economic recession • Regulations and laws

F) Stakeholder Analysis

Commonly used for assessing the attitudes of stakeholders towards changes or critical actions, stakeholder analysis is frequently used during the preparation phase of a project. It can be done once or on a regular basis to track changes in stakeholder attitudes over time. The stakeholder analysis is considered a “highly confidential” document containing very sensitive information. • • • Benefits Give clear understanding of stakeholders' interests Offers mechanisms to influence other stakeholders Enables full understanding of potential risks Identifies key people to be informed about the project during the execution phase Provides awareness of negative stakeholders as well as their adverse effects on the project • • • • •

Stakeholder’s Analysis Stakeholder analysis is a tool for clearly defining key stakeholders for a project or other activity, understanding where stakeholders stand, and developing collaboration between the stakeholders and the project team. The main objective is to ensure successful outcomes for the project or the changes to come. Stakeholders are the people or organizations who can be positively or negatively affected by change or action within the organization. They can also be the ones having a positive or negative impact. • • • • Types of stakeholders include: • Primary: those who are directly affected, either positively or negatively, by an organization's actions. Secondary: those who are indirectly affected by an organization's actions. • •

Role of SMC's stakeholder group Mapping is an initial step so as to identify the role of stakeholder. • Identifying material implies that stakeholders need to understand its availability of resources. • Defining mission is about the way in which resources are put to use or well allocated. • Deliver plan into action is assembling the accumulated work into action. •

G) Recommend strategy for SMC Focus on reduction of cost • Generation of appropriate sales and income • Focus on core competencies of organization • Focus on market research • Competitive analysis •

REFERENCES Hensmans, M., Johnson, G. and Yip, G., 2013. Strategic Transformation: Changing While Winning. Palgrave Macmillan Publication. • Singer, P. B. and et. al., 2007. Corporate real estate and competitive strategy. • Journal of Corporate Real Estate. 9(1). pp. 25–38. Tiwari, R, Buse, S. and Herstatt, C., 2006. Mobile banking as business strategy: Impact of mobile technologies on customer behaviour and its implications for banks. 4. pp. 1935-1946. • Dameron, S. and Durand, T., 2013. Strategies for business schools in a multi‐polar world. Education + Training. 55( 4/5). pp.323 – 335. •

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The Analysis Of Business Strategy and Objectives Of SONY