Managing Innovation in Business

Managing innovation in
business

Table of Contents
INTRODUCTION ..........................................................................................................................4
The organisation and industry overview .........................................................................................4
The organisation and its innovation History ..............................................................................4
The organisation existing innovation performance and capabilities ..........................................6
The industry ...............................................................................................................................7
CONCLUSION ...............................................................................................................................8
References........................................................................................................................................9

INTRODUCTION
The present report is based upon audit analysis for conducting an innovation audit for a
company. These selected company for completing this project is Sony corporation. This is a
Japanese multinational conglomerate corporation that has headquarters in Konan, Tokyo. This
company has diversified businesses in several sectors such as gaming, professional electronics,
financial services, etc (Dhillon, and Gupta, 2015). This report includes organisation innovation
history, activities of innovation as well as future innovation needs. Also, there is discussion
about macro and micro environmental environment factors like SWOT analysis, PESTEL
analysis, Corporate report 2019 and Porter's Five forces model.
The organisation and industry overview
The organisation and its innovation History
Sony Corporation came into existence when World War II started. Akio Morita the
founder of Sony was born in Nagoya, Japan in 1921. He was the oldest son and it was expected
of him to join the family business. Two men Morita and Masru Ibuka decided to setup a business
together. In year 1946 Sony was established with a capital of ¥ 190,000 and 8 employees in a
department store building in Tokyo. The company got its name “Sony” in 1958. Sony has a
diversified business and it deals in music entertainment business, electronics, gaming, financial
services and entertainment (Dodgson, and Gann, 2018). Sony has created its name for new
recording and storage technologies, instead of copying from the competitors. Sony has launched
a number of recording formats which included Floppy Disk, Compact Disc and Blu- ray. It also
launched Betamax Videocassette recording, VHS, JVC, Video8format in video recording. In the
range of flash memory it launched Memory stick, Flash Memory cards, Secure Digital cards,
Memory Stick Duo and Memory Stick Micro.
Current slogan of Sony is Be Moved , other than this they also had slogans like The One
And Only, It's a Sony, Like. No. Other, Make. Believe. Sony also ranked a 97th position in
Fortune Global 500 list in the year 2018. Sony has proven itself in innovation. From 1950
onwards it has launched a number of products all technologically advanced when compared to
competitors at their respective time (Furue, and Washida, 2017).