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Sony Ericsson Business Strategy

Business Strategy of Sony Ericsson

INTRODUCTION

Business strategy can be helping to organizations in develop new innovations, creativity, ideas and technologies for improvement in the production and operations of the company. Sony Ericsson has been operating their business in telecom and communication equipments. This company was founded in 2001 and establish in Japan. The cited firm serves the products in the market like: Smart phones, mobile phones, music devices, wireless systems and headphones etc.

The task 1 in this report is going to speak about the business strategy of Sony Ericsson. It includes the identification of company's key stakeholders, its mission, vision, goals and core competencies. The next phase of this presentation includes the assessment of company’s external environment as well competitiveness.  Another part provides the understanding about a range of issues involved in strategic planning process.

The task 4 of the report will discuss analysis and strategies review of the Sony Ericsson. Strategies review can be helpful in adopting suitable strategies for the growth and increase the image in mind of customers. It will be supporting in implement the process and environment of the organization. Here in this scenario describes various resources which required in the implementing the strategy. Research can try to define the idea about the target and timescales for the achievement and monitor the strategy (Monks and McMackin,  2001).

The aim behind undertaking this study is to identify the effectiveness of Sony Ericsson’s business strategies.

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Task 1

1.1 Company Information

  1. Name: Sony Ericsson
  2. Industry: Mobile and Smartphone
  3. Establishment: October 1, 2001 as a joint venture between Sony and the Swedish telecommunications equipment company Ericsson, under the name Sony Ericsson.
  4. Number of employees: 7,500
  5. Expanded in around 40 countries.
  6. Key Competitors: Motorola, Samsung, Nokia
  7. Context of business strategy

Mission- “To develop a wide range of innovative products and multimedia services while improving the experience of customers through creating new entertain world”

Vision- “To be the Prime Driver in an all communicating world.”

Core competencies- “ Human resource is the main core competency of Sony Ericsson. They focused on the acquiring the innovative and creative people .”

Core values- “Respect, professionalism and perseverance are the values that are the foundation of the Ericsson culture, guiding us in our daily work – how we relate to people and how we do business.”

Goals and objectives:

  • To  deliver world class services
  • Maintain leadership
  • Use of high class technology in the products

1.2 Issues involved in Strategic Planning

For each company the approaches to strategic planning differ as per the attitude and culture of the company. There is a range of issues which can affect the strategic planning process of an organization. For Sony Ericsson these issues are:

  • Commitment
  • Credibility
  • Communication

1.3 Planning techniques for Sony Ericsson

In order to make effective business plan it is must for the companies to use appreciate tools. The effectiveness of any strategy largely relies on the information being used as base. Sony Ericsson can use following techniques for strategic planning:

  • Market Research
  • Feasibility Study

Task 2

2.1 Organizational Audit

Internal audit of any organization can be conducted by using SWOT analysis.  This tool includes four major dimensions for analyzing the ability of company to attend opportunities and face the threats.  These four major dimensions are:

STRENGTHS:

  • Well expanded business
  • Innovative products

WEAKNESSES:

  • High prices
  • Lack of customer support

OPPORTUNITIES:

  • Increasing familiarity of people with technology
  • Product differentiation

THREATS:

  • Powerful competitors
  • High bragging power of customers

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2.2 Environmental Audit

The environmental audit includes the assessment of key external forces which can make direct as well as indirect impact on the performance of any organization.  The factors of external environment can be identified on the basis of PESTEL analysis.

Competitive Analysis

This assessment is made to identify the competitive position of the company. Porter's five force model is one of the most comprehensive ways of analyzing the level of competition in market. This model evaluates the level of competition on the basis of five key parameters that are:

Stakeholders

Stakeholders are all those firms and individuals that have direct or indirect interest in an organization.

Task 3

3.1 Analysis possible alternative strategies relating to substantive growth, limited growth or retrenchment

Alternative Strategies relating to substantive growth: Sustainable growth strategies having unique importance, Sony Ericsson uses these strategies for the extensive growth in the business. Strategies have been providing some advantages to firm like: damages decrease, authority efficiency, environment friendly products and supporting work place etc. Some Strategies are as follow:

Alternative Strategies relating to substantive growth: Sustainable growth strategies having unique importance, Sony Ericsson uses these strategies for the extensive growth in the business. Strategies have been providing some advantages to firm like: damages decrease, authority efficiency, environment friendly products and supporting work place etc. Some Strategies are as follow:

a) Acquisitions: This strategy expanding the business through acquires another company for the purpose of sustainable growth. It can be friendly buying of one firm by another through this strategy company will be expand their operational work and strength of the customers. It gives great support to company for increasing the production and profit margin in the financial year (Lee and et.al, 2013).

b) Joint Venture: Firm creates some special form of agreement with two or more companies with purpose of enhancing the brand image in the market. Agreement between two or more companies for achieving the common objectives in the business. Sony Ericsson using this strategies in the agreement with suppliers and distributors with purpose of enhancing the sales of the company in better manner.

c) Horizontal Integration: Firm will be acquiring the same level of organization for maximizing the profit in the market.

d) Vertical Integration: Company has using this strategy for the improvement in the production and operations of the enterprises.

Alternative Strategies relating to limited growth: These strategies are helpful in reducing the risk in some elements like: market share and cost of production. These strategies have been supporting in market needs and expectations according to situation of market. it can providing great support in introducing new products in market for expansion in business.

Some strategies are following:

a) Market penetration: Firm creates the strategies for enhancing the sales and profit of the organization after analysis of the present status of sales from total market. Market penetration provides the appropriate data of sales and giving proper ideas and creativity for enhancing the sales objectives in the firm (Kok, 2007).

b) Market Development: Through this strategy organization can be develop sales and market share in the new market. Company has been trying to develop products according to needs of customers and satisfy them from enterprises services. Enterprise attracts new market through providing different trendy looks and quality products (Piotrowski and Armstrong, 2006).

c) Product Development: This strategy has most important for the Sony Ericsson because customers want to changes in the product, so company will be presenting many products and services as per needs and expectations of the customers. It is helpful in providing new path to firms for attracting more customers with use of new product development in the market.

Alternative Strategies relating to retrenchment: Retrenchment strategies are enhancing the brand image in customer’s mind. Following strategies are helpful in retrenchment:

a) Turnaround: It is helpful in identifying the problems in products and giving directions for improvements in the products. Turnaround strategy can be replace old product with new products. It increases the number of customers in the market because old product not captures desired level of customers from the market (Jones, Comfort and Hillier, 2007).

b) Divestment: This strategy has been using when company’s sales down in the market from existing product then firm will be introducing new products in the market. Enterprises using different changes in production of product like: design, quality, features and upgrade the system of products. It gives enthusiastic advantages to organization in terms of increasing the sales and numbers of customers are also increases as per expectations of the firm (Salaman, 2000).

3.2 Future strategy for the Sony Ericsson

Marketing Strategy is a suitable strategy for growth of the Sony Ericsson. It is helping in increasing the sales in the market and giving new ideas and creativity for create brand image in mind of consumers. It has been providing proper method and techniques to presenting products and services in front of customers. Benefits of marketing strategy are:

i. Increase visibility: This strategy increases the visibility of products and services in the market with use of media like: newspaper, hoardings, flexes, TV and internet etc. this will be creating a good image of company in the market (Hart, Doherty and Ellis-Chadwick, 2000).

ii. Competitor’s strategy: Company will be tracking competitor’s strategy and taking information about the products changes and new activities of the other company in the market. It can track other company’s activities and analysis the Sony Ericsson strategy. Company will be implementing if needed in the operations for maximizing the profit.

iii. Information about competitors offers and discounts: Sony Ericsson using this strategy in this business for knowing information of the competitor’s offers and discounts in the market. It is helping in creating suitable offers and discounts for the customers and maintains the market with other companies.

iv. Promotional activities: Company will be promoting their products and services with use of media and attracting new customers effectively. Promotional activities can be creating good relationship with society and clients. Firm will be suing celebrities in promoting new products in the market because it’s helpful in attracting more customers in less with use of image of celebrity (Gwynne,  2008).

v. Focus on all segments: Company will be maintain all segments and distribute the various products according to market expectations. This will be helpful in creating large market share of the company in the market.

vi. Customer Care: Firm focuses to providing better customer satisfaction and reducing the problems of customers in less time. It will be manage many customer cares in the market and maximize the brand loyalty in the market from better services.

Company has evaluating the market conditions and introducing new products and services according to needs of the market. Major Competitors of the firm are Apple, Nokia, Motorola and Blackberry etc. Marketing strategy provides information of the market and using various method and techniques in improving quality of the products and attracts more and more customers from various offers and discounts in the purchasing of products (Richards, 2007).

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TASK 4

4.1 Roles and responsibilities for strategy implementation in two different organizations

Management delegates various roles and responsibilities to its different level of employees for better results. Management gives different guidelines and tasks to employees for fulfill the objectives and goals of the companies. Management handles all departments and operations in firm with use of giving proper roles and responsibilities to managers. Retrenchment strategies are using different organizations for introducing new products in market for enhancing the sale as per company’s target. Company manages the roles and responsibilities according policies of the firm (Griffith and et. al., 2009).

Planning for the marketing is major responsibilities of the enterprises. Companies are using different plan and methods in developing good image in the market. Firms have been playing vital role in recruitment and selection of the employees. Manager roles and responsibilities regarding company that they are recruit skillful and qualified people in the organization.

Managers involve the employees in decision making and some firms does not involve the employees in decision making. Distribution of products in the market is the major responsibilities of the managers in the company because it gives great impact on sales volume of the companies. Companies having different roles and responsibilities regarding health and safety of the employees thus managers have been providing better equipments and benefits to employees for safety (Gonzalez-Ramirez, Marle and Bocquet, 2008).
Corporate have some roles and responsibilities regarding employee’s family like: Education of children, health care facilities for family members and accommodations facility to employee’s family. Different companies serve these services in different way. For example some companies give monetary benefits to employees for fulfill their health and safety needs and some company arrangements for the health and safety. If every manager fulfill their roles and responsibilities in effective manner then companies easily achieve their goals and objectives.

4.2 Identify and evaluate resource requirements to implementing a new strategy

Sony Ericsson has been identified some resources which helpful in implementing new strategies. Resources are as follow:

i. Human Resources: Human resource is the most important resources for every firm in running business effectively. Sony Ericsson has been needed skilled and qualified people in the organization for enhancing the production process and operational work of the firm. Product development strategy can be depending on the the employees performance because knowledge and ability of workers gives good quality in production (Berio and Harzallah, 2007).

ii. Research and development: it is necessary for establishing products in market for time because research and development provide current information about the market, finding the need of the customers and giving suggestion for the changes in products for increasing the sales and profit margin of the firm. Market penetration strategy is based on the research and development and it gives directions to organization for achieving objectives and goals in systematic manner. This resource helpful in merger and acquisition of the firm because it gives information about the past records and image of the company. Managers take decisions after evaluation of the firm past and present records with use of research and development.

iii. Financial Resources: Financial resources play vital roles in firm because every project and plan need of finance for running effectively. Financial resources providing different equipments, raw materials, machinery and administrative appliances etc. Financial resources have been needed at every stage in the firm’s operation and productions. If company financially strong then it will be think for the expanding new opportunities in business on the other hand if company not financially strong then it will gives negative impacts on the image of company and decrease the sales and profit margin of the firm from market (Brown and Grundy, 2012).

iv. Technological resources: Sony Ericsson belong telecommunications field, so the present scenario requires advance technology in production and quality of the products because competition is too high. Every company provides new and unique technologies in products and it will helpful in attracting new generation easily. Sony also tie up with android company and provides new smart phones with android operating system and giving upgrade facility to users when update available in the market.

Resources are taking unique importance for running business effectively. It increases the profit and sales of the company with use of resources in systematic manner.

4.3 Targets and timescales for achievement

Firm will need to monitor the implementation of the strategy. It gives new advantages to organization in term of increasing revenue and sales as per company’s expectations. Sony Ericsson sets some objectives for the strategy with in a particular time period. Balance scorecard also useful for the measurement of the objectives with in time period. Firm’s internal process are handles by the balance score card (Rauffet, Da cunha and Bernardor, 2002). Targets of the Sony Ericsson are increasing revenue, increasing the number of customers, providing better customer satisfaction and increase brand loyalty in mind of customers. For effective implementation of the strategy Balance score card is beneficial for the company which takes into consideration objectives, measures, targets and initiatives of the firm. Main objective set by the entity are to increase revenue, customer base and brand loyalty. Targets set involves 10% increase in revenue in 6 months, 2 % increase in customer base in 1 month.  Measures adopted for determining the improvement in performance considers various factors like to assess rise in revenue level sales volume will be determined. Furthermore for the accomplishment of these objectives set management is taking initiative by preparing various plans and strategies in welfare of the enterprise. Main initiatives include time to time monitoring of all the business activities  and review the performance so as to identify the gap in the overall performance.

CONCLUSION

The report described that alternatives growth strategies are play major role in increasing the production and sales of the company in systematic manner. Sony Ericsson adopts acquisitions strategy for the enhancing the level of production and revenue of the company. Firms are using various resources in the operations for making products and services. Some major resources are human, financial and technological etc. This company will be focusing on marketing strategy because it gives proper idea about the expansion and competitor’s activities. Balance score card measure targets and timescales of the organizations goals and objectives.

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REFERENCES

  • Berio G., Harzallah M., 2007. Towards an integrating architecture for competence management.Computer In Industry. pp. 54- 58.
  • Brown, L. and Grundy, T. 2012. Value-based Human Resource Strategy. Routledge.
  • Gonzalez-Ramirez, Marle F., Bocquet J.C., 2008. Assessing project maturity : a case study, PMI Research Conference, Poland.
  • Griffith, R., and et. al., 2009.  Consumer Shopping Behavior: How Much Do Consumers Save?. The Journal of Economic Perspectives. 23(2). Pp.99-120.
  • Gwynne, R. N.,  2008. Value Chains and the Geographies of Wine Production and Consumption.  The Geographical Journal.  174(2)  pp. 97-108.
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  • Jones, P., Comfort, D., and Hillier, D., 2007.  Sustainable Development and the UK's Major Retailers. Geography. 92(1). pp.41-47
  • Kok, H. J., 2007. Restructuring retail property markets in Central Europe: impacts on urban space. Globalization, Urban Systems, and Local Development. Journal of Housing and the Built Environment. 22(1). pp. 107-126.
 
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