Sony Corporation Executive Summary :: Sony Business Marketing Essays

Sony Corporation Executive SummarySonys current financial difficulties are tied into its corporate culture whichwere state over 30 years ago. With such(prenominal) a largemultinational corporation, greater planning and more use ofstrategies should be pursued. Sony could start with theimplementation of a new mission statement, with profit andbenefits of the company tied more closely to everydayoperations. Internally, the four forces, the management, thedesigners, the production and the marketing should achievebetter communication and cooperation. confederacy andcooperation between competitors should also be activelysort after in order to create standards in new fields. Sonyshould aim at being the attraction instead of being themaverick. As for cost cutting, Sony should seriouslyconsider setting up operations in other Asian countries inorder to form advantage of the cheap labour and thebudding markets. Finally, diversification, instead of pursuingthe fast changing and easily imitat ed consumer goodsmarket, Sony should use its technological know-how forhigh-end business and office equipment. With SWOT compendium and Porters competitive forces model, we canview that the market is much more competitive with lessprofit margins and lead-time for product launching. Theconclusion is that change is needed in Sony. However,evenwith strategirial and structure change, the Sony spirit ofinnovation should remain intact because that is what madeSony grow and would make it stay strong. IntroductionThe first thing that comes to peoples minds of the companyand products of Sony is itshigh-technology-filled-with-gadgets electronic goods andinnovation. It was also this innovation that make Sony thegreatest company that started in post-war Japan. Sony hasused its innovation in building markets out of thin air,created a multibillion, multinational electronic empire withproducts such as the transistor radio, the Trinitron, theWalk-in and the VTR. that changed everyday householdliv es forever. However, this consumer targeted quest forexcellence and constant innovation instead of targetingmainly at profit also has a lot to do with current crisis Sonyis facing - sales and profits are down or are slowing down,capital investment cost and R&D are climbing, competitorsare moving in with copycats, the battle between VHS andBeta and the search for a smash hit product such as theTrinitron or the Walk-in. This volatility and emphasis (orgambling) on new products instead of concentrating onprofit and loss statements have always been a part of Sonysince its beginning days. For apiece successful product (i.e.transistor radio and Trinitron), R&D cost often ran so highthat the they pushed the firm to the verge of bankruptcy.This can also be seen through the eyes of the investor inwhich although sales have increased tremendously