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Business Strategy of Sony Corporation (Doc)

Added on - 05 Feb 2020

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Business Strategy1
TABLE OF CONTENTSINTRODUCTION................................................................................................................................3TASK 2.................................................................................................................................................3a) Future strategy for Sony Corporation...........................................................................................3b) Justification of selection of future strategy..................................................................................4c) Roles and responsibilities of Sony staff in strategy implementation............................................4d) Estimating resources requirements that Sony will need to implement limited growth strategy..5e). Contribution of SMART objectives to help Sony to achieve strategic implementation..............6CONCLUSION....................................................................................................................................7REFERENCES.....................................................................................................................................92
INTRODUCTIONBusiness strategy is set of activities which are prepared by company to achieve definedobjectives in effective manner (Teece, 2010). It prepares to deal with major business operationalissues. A well define business strategy is providing the guidelines to a company on how anorganization is performing well in-front of competitors. It delivers several benefits to the companiesin terms of increasing customer retention, effective allocation and use of different resources, growthof the business in various markets etc (Olson, Slater and Hult, 2005). The following research isrelated to the business strategy and for this Sony Corporation is taken into the consideration. Theobjectives that will cover under the following study are approaches of evaluation, selection ofstrategy and implementation of the selected tactics. Along with this, future strategy for theorganization, roles and responsibilities of the staff members in strategy implementation, requiredresources for executing tactics and SMART objectives for effective implementation of strategywithin the Sony Corporation will also be discussed.TASK 2a) Future strategy for Sony CorporationThere are four options in front of Sony Corporation in which one of them can help indeveloping future strategies for them. In this context, the available options are as follows:Market Entry:It is a planned method that helps in introducing new products and servicesin a new market (Doherty, 2007). There are different factors which affects it such ad tradebarriers, competition level, government regulations etc. In market entry strategy, a companyis offering existing products into new market with different purposes such as expansion,increase market share, raise profitability etc. In case of Sony Corporation, to developsustainable business, firm can use market entry strategy (Peng, Wang and Jiang, 2008). Withthe help of this, it will be easy for the organization to grow the business in new identifiedmarketplaces.Substantive growth:If a company is taking decision to adopt substantive growth, thenthere are two options that are available either diversification in related or unrelated market(Kaplan and Norton, 2001). If Sony Corporation moves in direction of diversification inrelated market, then organization should bring new innovation in the existing products. Ifthe firm is following to get diversified, the business in unrelated market then for this, SonyCorporation has to develop new core competencies and skills to develop new products andservices (Peppard and Rylander, 2001). The benefits of substantive growth strategy forcompany are that it will provide exponential growth to business and keep strengthening to3
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