Business Strategy for Sony Corporation

This presentation discusses the business strategy of Sony Corporation, including its mission, vision, goals, and core competencies. It also covers factors to consider when formulating strategic plans, SWOT analysis, strategic planning techniques, PESTLE analysis, Porter's Five Forces model, and the role of key stakeholders. Recommended strategies for Sony are also provided.

TASK 1
Business Strategy

Introduction Sony Corporation
 Sony is one of the main leader of electronic market.
 Company's main office is located in Tokyo, Japan.
 The main competitors of firm are Apple, Samsung and
Nokia.
 Business adopts innovative technology in order to
develop unique products.
 Firm produces and markets its products at worldwide
level.
 The current products developed by business is
smartphones and tablets that attracts young clients.

Company's mission, vision, goals,
objectives and core competencies
 Mission- Sony's mission is to motivate and attract
different clients towards business. Thus, it is
essential for the to build effective strategies in order
to attain results and satisfy consumers.
 Vision- The vision of firm is to become the market
leader in the business sector. Organization adopts
innovative technology to develop its products and
thus enhances customer base in business.
 Goals- The main goal of business is to bring
innovation in products and services by adopting
unique technology.

Contd...
 Objectives- Furthermore, business executes
strategic planning in order to bring creative ideas
and thoughts that assists in capturing high market
share.
 Core competencies- The main competitive
advantage of business is technology adopted by
them to produce products.

Factors that need to consider when
formulating strategic plans
 Innovation- In this business is required to adopt
innovative technology so that business can plan for
new products in market and attract clients.
 Effective communication- Here, Sony is required to
develop communication so that different
information can be delivered effectively and thus
decisions can be taken in business.

Contd...
 Employee engagement- It is significant for firm to
involve employee at the time of making effective
decision and thus coordination can be developed
effectively.
 Training- Further, in order to implement the tactics
employees are needed to be trained effectively so
that they can accomplish the target and goals.

The effectiveness of techniques that
helps in developing business plans
 Business is required to adopt best techniques so
that strategies can be developed effectively.
 Through adopting and implementing such
techniques it helps in earning high profits and
revenues.
 Information should be delivered effectively at varied
levels in business.

Contd....
 Further, adopting innovative techniques helps
business in assessing the needs of individual and
then provide them required products to satisfy their
wants.
 Providing appropriate training to workers regarding
the business and use of technology so that results
can be attained.
 Thus, it helps in carrying out the strategies
effectively and attain the targets on timely basis.

Organizational audit
There are various resources which are required to be adopted
by Sony in order to carry out organizational audit and which
are as follows-
Financial resources- Business is required to avail the funds
required in order to implement the strategy and thus fulfil the
needs effectively.
Human resources- It states that employees are needed to
assist business in implementing the strategy so that varied
activities can be attained easily.
Technological resources- Such resources are needed by
firm in order to adopt improved and advanced technology so
that strategy can be implemented efficiently.

SWOT Analysis
STRENGTH:
Innovative and Quality
Collective Brand Image
Reliable communication device
User friendly products
WEAKNESS:
Less Competitive Prices
Stability issues like crash and intermittent
switching off
Not targeted much towards business
individuals
OPPORTUNITIES:
Increase in the global demand of smartphone
Development of emerging markets such as
India and China
Upgrading of software
THREATS:
High level of competition in this market
Excessive pressure for downsizing their price
High customer bargaining attitude

Strategic planning techniques
It can be state that planning directly influences the
business future performance. Thus, as a result of
this management of business is required to collect
proper amount of information before making a
strategic plan. It involves different types of
information for the purpose of improving the
current performance of business. Following are
the techniques that are used such as-

BCG matrix
BCG matrix is also known as Boston Consultancy
Group in order to access business standing
within industry. However, such matrix helps in
comparing the business growth rate and assist
in determining the enterprise current position
within industry. In such matrix it involves star,
cash cows, dog and question mark. Star states
that business growth rate is high along with the
market growth rate.

Contd...
While, the question market depicts that the
industry growth rate is high but business growth
rate is low and it involves a lot of opportunity for
growth and development in the industry. Further
cash cows states that market reaches at a
saturation stage but business assists in making
good profits due to high brand image in the
industry. Dog indicates that both market and
company growth rate is low. Hence, it is better
for industry to exit.

SPACE matrix
Within such type of matrix both strategic and action
evaluation matrix. Thus, it helps business to undertake
a strategy out of four varied types of strategy. Following
are the four different strategies such as aggressive,
defensive, conservative and competitive strategy.
However, such matrix is divided into two different parts
i.e. Internal and external strategic position. While, the
internal strategic position matrix is divided into two
parts such as competitive and strategic position. On
the other hand, external strategic position is divided
into the internal strength and environmental stability.

PESTLE analysis
 Political- It states that government develops
different laws and regulations in order to implement
it in business.
 Economic- Due to high inflation in the country it
affects the demand of mobile phones in
marketplace.
 Social-Further, change in taste and preferences of
clients affects the business as they need to develop
such products and services in order to attract
customers.

Contd...
 Technological- Bringing innovation in business by
adopting effective technology it helps in attracting
clients and also give tough competition to rivals.
 Environmental-Sony is required to adopt different
environmental protection laws so that business
does not affect the environment of society.
 Legal- The regulatory bodies develop different laws
and thus it needs to be implemented by business
so that customers can be satisfied. Sometimes,
clients file case against the business such as poor
technology adopted by business that affects the
clients.

Porter five forces model
 Bargaining power of buyers- It is high as there are
varied rivals present who are supplying similar
products to clients.
 Bargaining power of suppliers- It is also high as
there are few suppliers available and business
need to make them happy by providing them timely
payment.
 Threat of market entry- It is low as it is essential for
firm to invest high amount in business.

Contd...
 Threat of substitutes- It is also high as there are
varied mobiles phones available in market and thus
individual can substitute it from any other gadget.
 Competition and rivalry- It is high as there are
varied competitors who are present in business and
thus business is required to provide tough
competition to attract customers.

Role of key stakeholders
 Employees- They are essential part of firm and
thus business need to involve them in decision
making.
 Customers- They also need to involve at the time
of implementation of strategy or launching new
product so that results can be attained.

Recommended strategy For Sony
 Sony adopts limited growth strategy that helps in
enlarging the business.
 It also helps in earning high revenues.

References
Hoffman, A. and Woody, J., 2013. Climate change: What's your
business strategy?. Harvard Business Press.
Caloghirou, Y., Vonortas, N. S. and Ioannides, S., 2004. European
collaboration in research and development: business strategy and
public policy. Edward Elgar Publishing.
Carbone, G. and Stoddard, D., 2001.Open source enterprise solutions:
developing an e-business strategy. John Wiley & Sons, Inc..
Dinsmore, P. C. and Cooke-Davies, T. J., 2005. Right projects done right:
from business strategy to successful project Implementation. John
Wiley & Sons.

Thank You