Business Strategy of Sony : Case Study
Added on 2020-01-23
8 Pages2453 Words100 Views
Business Strategy
Table of ContentsBusiness Strategy.............................................................................................................................1INTRODUCTION...........................................................................................................................1TASK 3............................................................................................................................................13.1 Strategy for market entry and growth...................................................................................13.2 Justification...........................................................................................................................2TASK 4............................................................................................................................................24.1 Roles and responsibilities of staff to implement the strategy ..............................................24.2 Requirement of resources......................................................................................................34.3 Contribution of SMART objectives......................................................................................4Conclusion.......................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONBusiness strategy includes a planning process which is developed to achieve desiredobjectives and goals of the organization. This is concerned with leading the issues of resources inorganization such as sales planning, raising finance for business and product development.Strategies are mainly concerned with the various activities of business (Baye, 2000). Theproducts features and production locations for new business are also planned in this strategies .This report will help to understand the need and development of business strategy inorganization. In this report, Sony Corporation is selected to study the importance of businessstrategy. Further this report includes the planning process and formulation of strategy to evaluatethe requirement of various resources in the company. The implementation and selection ofbusiness strategies are also described in this report.TASK 33.1 Strategy for market entry and growthThe Sony can adopt few options such as market entry, substantive growth and limitedgrowth and retrenchment to consider company's future strategy.Market entry- For the future strategy, Sony can adopt the option of market entry. Citedfirm can enter in new market with the existing products. In new foreign market companycan implement few methods such as strategic alliance, joint venture and franchising.Substantive growth- This option can increase the sales and profit which can help inbusiness growth of Sony (Chow and Suen, 2001). For the substantive growth companycan adopt the horizontal and vertical integration or related and unrelated diversification.Sony can also adopt the acquisition option to enter in new market and to increase thegrowth of company.Limited growth- While considering the future growth strategy, company can adoptlimited growth option if Sony do not want to take the risk. Cited firm can focus on marketpenetration, market development and product development (Chow and Suen, 2001).Retrenchment- By adopting this strategy, Sony can focus on its product line and marketsegmentation. The retrenchment strategy offers the opportunity to offload theunprofitable strategic business unit and also reduces the loss. In this strategy firm can usedivestment and cost reduction methods.1
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