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Preliminary Strategy Audit
Preliminary Strategy Audit
Abstract
Auditing is a critical requirement in determining the success factors in firms. Auditing is done strategically and using a given process to arrive at specific evaluations. Arriving at evaluations usually depends on the choices made by the organizations being audited or analyzed. While auditing involves the evaluation of an organization, auditors are required to consider aspects like materiality, especially in audit planning and in the assessment of an organization’s position. All analyses have to conform to the right accounting and audit principle. This paper entails the preparation of a report, which includes preliminary strategy audit. The organization of choice in this case is the Sony Corporation. The report analyzes the company’s value proposition, its market position, as well as its competitive advantages, including a scan on its external environment using current environment and the five forces analysis. The paper also identifies the critical strategic issues that could be facing the Sony Corporation. The company is currently doing well although it was surpassed by some other companies such as Samsung due to strategy failures. Sony operates within a global market and faces a number of challenges. It can be found that Sony Corporation has been facing some challenges besides its top and high innovative products. The best option is to looks for the best strategies and implements them accordingly.
Table of Contents
Abstract2
Table of Content 3
Introduction to the Sony Corporation 4
Value Proposition 4
Market Position5
Competitive Advantage6
External environmental scan (The Five Forces Analysis)7
Strategic Issues10
Summary, key findings and recommendations11
References12
Introduction to the Sony Corporation
The Sony Corporation is synonymous with chiefly consumer electronics. The corporation operates globally under various success factors despite some key weaknesses that need to be eliminated or minimized strategically. The major aspects requiring consideration is this report include the company’s value proposition, its market position, competitiveness, and its business environment among other factors. The corporation targets a wide range of consumers through the establishment of different business units. The company has business segments that include Imaging Products and Solutions, Games, Mobile Products and Communications, Home Entertainment and Sound, Devices, Music, Pictures, Financial Services as well as other product and service segments. The company faces competition mainly from other companies offering the same products and services. It has remained a strong and competitive company for many years but it seems to have been surpassed by Samsung, with LG being a key threat and a major competitor as well. The company also faces competition from other mobile producing companies especially Apple Corporation, Nokia, Samsung, LG, RIM, and Google among other mobile manufacturers and marketers (Alan, 2013). This aspect suppresses its electronics and mobile phone markets around the world. Running an analysis of the corporation would help in establishing the company’s problems with respect to its value proposition, the immediate market position, its competitive advantage, the external environment using the Porter’s Five Forces Analysis, and the strategic issues facing the Sony Corporation.
Value Proposition
Value proposition could be described as the promise of value made by a company to deliver quality products and goes concurrently with customer beliefs the promise on value would made. Sony products are highly trusted by its product consumers. The major problem facing the company’s value proposition could be within the marketing strategies employed. The company leads in a number of product segments, which translate to the value proposition of the entire organization. With a range of high valued products like mobile phones, laptops, music electronics, and other appliances, the company strategizes much on value proposition (Anderson, Narus, & Rossum, 2006). The company’s strategies are based on differentiated value propositions of customers. To enhance its value proposition, the Sony Corporation could make application of a value proposition builder, which involves about six stages.
First the company should look at the market for its products and establish the market for which the value proposition is being created. Consideration of customer experience should be considered in terms of what the market values the most. This information could be gained through customer and employee feedbacks. The company could consider the products and services being offered. It is also good to consider the market benefits obtained from delivering the products or services. There could be alternatives and differentiation mechanisms to find out the alternative options that the market could have. Finally, Sony Corporation should use proof or evidence to substantiate its value proposition. The key idea in this case is that satisfying customers would ultimately be the sustainable value creation source (Anderson, Narus, & Rossum, 2006).
Market Position
In the case of its mobile phone product segment or business unit, Sony still lags behind some other companies such as Samsung and Nokia. The company’s share however seem to be growing larger due to the production of superior products as compared to its competitors. According to Alan (2013), the market position of Sony mobile products is currently better than that of Apple, a key competitor. Mobile products such as the Sony Xperia Z have initiated this market trend, making Sony get back to its feet in terms of market position. This is mainly seen in the company’s local market although Apple surpasses it in only a few markets within the global market. Currently, the market share for its local market accounts for 36% of Sony products and 25% of Apple products (Alan, 2013). The other 39% is shared among other competing organizations. Enhancement of Sony’s market position is helped by the initiation of a discount promotion campaign (Brace, 2012). This is done from it country’s leading carrier with at least 60 million people out of a population of 127 million subscribing to the carrier, NTT DoCoMo (Alan, 2013). In terms of the world market share, Sony takes up to 4.5% of the mobile phone market share. The company’s market position is however not fixed especially due to increasing innovativeness and competition (Alan, 2013). The company remains far behind companies like Samsung. Its emergence is taking portions of other companies’ market shares especially Apple and Samsung (Alan, 2013).
Competitive Advantage
Sony Corporation is a large company that targets consumers using various product and services. The company’s competitive advantage is highly based on the nature of its products and the scope of its business and market operations. Again, the company’s competitive advantage is based on the high innovation applies in its production processes (Brace, 2012). The company is proud of its rich history in imagination and innovation in various industries depicted by its business segments. Its technology could be marked to the World War II after taking over the transistor technology and making sure that they kept the lead and popularity in transistor radio. Other competitive advantages are based on its history in manufacturing TV set, being an early developer of the video tape technology. Given such inventions and innovations, consumers have no doubt on its products and many people could prefer Sony products to equivalent products from other manufacturers. The company is again able to sell its products at a low price level than most of its competitors (Brace, 2012). Application of marketing strategies like discounted prices still makes the company’s products a choice to many consumers. The company could however face most of its competition from rival competitors due to their strength in marketing campaigns.
External environmental scan (The Five Forces Analysis) the Current EnvironmentSony is currently operating within an extremely competitive business and market environment with Samsung and Apple being the top competitors. Samsung and Apple are mainly fighting to acquire the largest share of the global market. Sony on the other hand is striving to take over some of the markets owned by these two top competitors especially in the phone and computer industry. Currently, Sony is making a serious move to achieve its goals since after launching some of its top mobile phone products especially the Sony Xperia series; it is quickly taking over some of the markets owned by the two top giant competitors. The process is promoted by the company’s low operating costs. The company has set to unify its offerings that the company intends to bring to the market (Alan, 2013). While the recent and the current achievements still count and holds to the company’s recent success in market growth, Sony still remain under the two top competitors. Other emerging companies like Google still pose threat to its current and future market environment, especially in the mobile phones and computer industry.
The Porters Five Forces Analysis of the Company
Sony is a huge company with good production, management, and marketing grounds. The company’s environment could be analyzed to bring out the possible problems that bar its progress. The analysis of the company considers aspects of competitive and marketing environments such as threats of new entries, bargaining power of the buyers, bargaining power of suppliers, threats of substitute products, and the intensity of rivals.
Threats of new Entries
Sony faces low threat from new entries. The company is heavily established making it possible for new entrants to take its market share. The company deteriorated at some point but it is currently getting back into its original track. Most of the top competitors have been in existence since the Sony Corporation’s history. New entrants are barred by aspects like high operational costs, constant innovations, and government policies. Sony has therefore little chances of losing its market to new entrants.
Bargaining Power of Buyer
For the Sony Corporation products, the bargaining power of its buyers is extremely high. This aspect is initiated by the fact that there are no switching costs among brands. Again, the market is full of competing products making consumers have a wide variety of choices. The market is based on perfect competition, with information technology being applied to offer consumers with adequate information on the range of alternatives available. In the mobile phone industry, various companies offer superior products and consumers understand which products are best in terms of performance and prices. In this case, their bargaining power is very high.
Bargaining Power of Supplier
Sony generally experiences low bargaining power of suppliers. This happens because the corporation has a large number of suppliers from different parts of the world willing to offer their products to the company at its dictated price level. This makes the suppliers have no significant power over the company. The suppliers lack adequate bargaining power due to their aspect of being in the form of comparatively small entities. The company has more power over its suppliers due to its ability to negotiate directly with them. This way, Sony Corporation is able to obtain low priced products but of high quality.
Threat from Close Substitutes
In general, the Sony Corporation produces some products that lack close substitutes. In this case, the company faces little threat from close substitutes. The company has a good reputation for its products especially large electronics, household items, and music equipments. The company’s mobile phone and computer business segment however produces products with close substitutes thereby having some significant threat of close substitutes.
Intensity of Rivalry
The intensity of rivalry is relatively high, especially for the company’s phone and computer business segments. The mobile phone and computer industry has intense competition involving high costs associated with innovating, research, and advertisement. Current, there are over ten strong competitors with the company facing stiff competition from companies such as Samsung, Apple, Nokia, RIM, and Google.
Strategic Issues
Sony Corporation has a number of strategic issues. The strategic issue can be concluded to be the major reason why the company records a declining profit.
Inefficient Manufacturing structures
One of the strategic issues is inefficient manufacturing structures. This strategic issue has contributed to the decrease in the company’s product quality. The implication of this is a destroyed reputation leading to the decrease in its products competitiveness (Yasu & Ozasa, 2012).
Failure to respond efficiently to Market Demand Shifts
Sony Corporation has been in a bad strategic position to respond to sufficiently to shifts in market demands. This failure has contributed to the company’s loss of its competitive advantage. One of the reasons for failing to meet the prevailing market demands is the existence of manufacturing problems (DeWit & Meyer, 2004).
Poor Management and Strategic Decisions
Sony has recently implemented a number of strategies in order to secure its business and market share. Such strategies only contributed to failure rather than recovery. Such strategies include the selling of some of its business ventures and the emergent strategies. These strategies only work at limited capacities. Divided management could be one of the reasons for some of its products being perceived as of lower quality (Yasu & Ozasa, 2012).
Reputation Issues
Due to quality deterioration of some of its products and services, Sony Corporation went through a system of mistrust by consumers as far as its products are concerned. The problem could be seen in some of its superior products such as the Sony Xperia Z, which despite being better in almost all aspects that its competitors’ products, the products is only strongest in its local market.
Failure of miniaturization
Sony had failed through this strategic issue since it had failed to bring miniaturization to the Sony products. The management did not ensure that the needs of customers require understanding from all specialists including technologists, marketers, and engineers. Such an understanding could enhance the company’s reputation and thus adequate trust from customers.
Summary, key findings and recommendations The Sony Corporation is strongly established company dealing in a variety of products. The company faces different forms and types of competition with respect to each of its business units. It is leading company in many aspects especially those related to large electronic, household equipment and appliances, and music equipments. For the mobile industry, the company is still among the top companies in innovation. Its top products however face some stiff competition from the key competitors especially Samsung and Apple. Sony Corporation needs to learn from its different mistakes. The company need o strategize on the best marketing mechanism that would convince people from different regions of the superiority behind its products. The company has been concentration of quality product and innovation. The company could only implement more strategies that are effective and efficient. It is now the time to turn to the global market in order to broaden the market for its great innovations.
References
Alan, F. (2013, June 19). Thanks to major discounting, Sony’s market share now leads Apple’s share in Japan. Retrieved October 19, 2013, from phonearena.com/news/: HYPERLINK “http://www.phonearena.com/news/Thanks-to-major-discounting-Sonys-market-share-” http://www.phonearena.com/news/Thanks-to-major-discounting-Sonys-market-share-now-leads-Apples-share-in-Japan_id44242
Anderson, J. C., Narus, J. A., & Rossum, W. V. (2006). Customer Value Propositions in Business Markets. Harvard Business Review, 84(3) , 90-99.
Brace. (2012, December 9). How can Sony Regain Its Competitive Advantage? Retrieved October 19, 2013, from HYPERLINK “http://financialaffirmations.tumblr.com/post/37586273838/how-” http://financialaffirmations.tumblr.com/post/37586273838/how-can-sony-regain-its-competitive-advantage
DeWit, B., & Meyer, R. (2004). Strategy: Process, Content, Context,3rd Edition. Thomson International Business Press. .
Yasu, M., & Ozasa, S. (2012). Sony, Sharp Losing $11 Billion Leaves Investors Let Down. Bloomberg.
the following discussion will focus on analysis of equal employment opportunities
Topic
Name
Course
Institution
Tutor
Introduction
Equal employment opportunities in the society are almost impossible though there have been attempts to see justice done. Social inequality has contributed heavily to the problem of inequality in employment opportunities. Most of the inequalities are based on gender while others on social status making many people miss the chances though they are qualified. This therefore is a social problem which needs analysis to determine its preference and the way forward to ensure that there is equality. For this reason, the following discussion will focus on analysis of equal employment opportunities.
Discussion
The world leaders and all the stakeholders are looking forward to seeing the equality in employment maintained A lot of discussions have been held to ensure that justice remains paramount when providing the opportunities to all the qualified personnel. This however has not been the case and it has been observed that the three main hindrances to employment opportunities are the social status, race and gender issues. The three social constructions have been used to discriminate people and locking them out of the employment opportunities.
Gender inequality has been the main cause of employment inequality. Sexual differences have been used to decide who gets to do which job and who gets promoted. Culturally, women were required to look after the house while the men became the breadwinners (Thompson 1997).This became so embedded in the people’s mind and it has been shaping the way the female are viewed. In many cultures, they are denied chances of acquiring better education which is meant to provide them with the required skills. On the other hand, men who are also considered stronger sex get better opportunities to secure jobs and education. A survey carried by the National Science Foundation (1995) in America found the despite the fact that both genders could have the same qualifications, inequality still arises. The analysts found that there was a gap between the salaries that both genders earned despite the fact that they were both doing similar tasks.
In their quest to find the cause of this difference, they found that men are considered more experienced than the women (Ida 1998). This leaves the conclusion that education background is not a determinant when it comes to securing employment opportunities. The society has also other factors that they consider which give men better chances over women. It has also been observed that job inequality arises when it comes to promotion opportunities. The biggest beneficiaries of this are again the male. Most female have been observed to hold lower positions in areas such as receptions and secretarial while the male are offered positions of Directors or Executive Officers. The main reason for this is that the female are regarded as the weaker sex who cannot hold the higher position competently. This kind of myth has been used to deny the female the chance despite the fact that they have equal opportunities to their male counterparts.
The other main factor that has undermined the employment equality is social status (Grusky 2000) The society is made up of strata which form the social classes. These classes determine many things including who gets the best opportunities in the society. Just as Karl Marx said, the culture of the high class people will always dominate that of the lower class (Wright 1997).They are always seeking to get richer and richer at the expense of the less privileged. People coming from this group of people find better opportunities in employment as they are able to influence or use unfair means to get employed even if they are unqualified. Low class people have to struggle to find employment even if they are qualified.
The other factor that has been used to lock people out of employment are the matters relating to race (Rogers 2000). It is the society construction and myth that is aimed at segregating people on skill color basis. The white people have for a long time being looked at as more intelligent and superior to other races especially the blacks. As a result, this has led to inequality when it comes to employment opportunities with the whites being favored over the blacks. If employment equalities are to be achieved, then all the relevant authority must work tirelessly to fight the evils of race, class and gender issues.
Conclusion
If all the stakeholders involved in the employment sector do not act, then the inequality which has been so prevalent when it comes to job placement will perpetuate. People need to be given equal chances so long as they are qualified for a particular task without focusing on their race, class and gender. Opportunities that are meant to increase the skills of the employees such as the seminars should be provided to all so that they are diversified in their field of employment.
Reference:
Castro, Ida (1998). Equal Pay: A Thirty Five Year Perspective, U.S. Department of Labor, Women’s Bureau. June 1998; Gender Gap Theory Collapses Under Scrutiny, National Science Foundation. (1995). Division of Science Resources Studies. (Scientists and Engineers Statistical Data System)
Hannaford I (1998) Race: the history of an idea in the West. Johns Hopkins University Press, Baltimore
Harpending H, Rogers A (2000) Genetic perspectives on human origins and differentiation. Annu Rev Genomics Hum Genet
Daniel Bertaux, and Paul Thompson(1997); Pathways to Social Class: A Qualitative Approach to Social Mobility Clarendon Press, 1997
Barbara Ehrenreich (2002). Nickel and Dimed: On (Not) Getting By in America
David B. Grusky (2000) Social Stratification: Class, Race, and Gender in Sociological Perspective
Erik Olin Wright. Classe (1997) – a detailed Marxian guide to define working class/middle class
The following discussion will be answering the question of whether the death of Polonius was a cold blood or warm
Introduction
The behavior elicited by an individual is in many times shaped by life issues that one has experienced. Some of the issues are unbearable if repressed and therefore for one to lead a normal life, they need to deal with them. Hamlet if going through a dilemma as he is expected to follow his father’s ghost advice to avenge for him since his death was a result of murder which was committed by Claudius Hamlets Uncle. He is therefore expected to kill his own uncle to avenge for his father. The following discussion will be answering the question of whether the death of Polonius was a cold blood or warm.
Discussion
The death of Polonius was as a result of cold blood murder. This is because he did not deserve to die as there was no conflict between him and Hamlet. Cold blood murder happens when there is no provocation whatsoever, where the assailant mercilessly kills the victim without any core reason.
Hamlet is summoned by his mother, Queen Gertrude who has an issue to discuss with him. In the process of their discussion a conflict arises and there is a bit of commotion. The Queen is convinced that Hamlet wants to kill him and this causes her to scream for help.
Polonius who is spying the whole act behind the scene and is convinced that the queen is in danger He panics and raises alarm to rescue the queen. Hamlet thinks that he is actually the king Claudius who is hiding in the arras(Oliver 12)He draws his sword and pierces him through the cloth killing him on the spot.
The reason why this is a cold blooded murder is that he is remorseless even after committing that act (John. 22). He is callous and it appears as though nothing weird has happened. He blames him for his death “thou wretched, rash, intruding fool, fare well”
(3.4 .40).
Another reason that demonstrates his numbness is when he is asked what he did with the dead body ( 4. 2. 40). He says that he compounded it with dust. Had he done the act accidentally he would be sorry for what he did.
Hamlet: How now! A rat? Dead for a ducat, dead! Makes a push through the eras (3. 4. 27)
(The actor is holding his sword looking at the dead body arrogantly then he swaggers on stage feeling that he has achieved much by murdering the victim. He is remorseless, full of rage that if someone is to appear at this point, he might be risking his own life.).
Hamlet: compounded it with dust, where to ‘tis kin’ (4.2. 7)
(He is walking majestically onstage demonstrating how he buried Polonius in the soil. He assumes the position of a person burying something in the soil, uses his sword and feet to push the body in the pit, then he buries it.)
Hamlet: thou wretched, rash, intruding fool, farewell (3. 4. 40)
(He roughly withdraws his sword from Polonius body. He is so callous that he is not moved by the blood that is oozing profusely from the victim’s body. He walks away oblivious of the damage that he has made and cursing Polonius for causing his death.)
Conclusion
The unexpected death of Polonius was a cold blooded one caused by the callous personality of Hamlet.
References
William Shakespeare : Hamlet. Act 3, scene 1, 40
William Shakespeare : Hamlet. Act 3, scene 4 27
William Shakespeare : Hamlet Act 4 scene 2, 7
Oliver R D, Historic Parishes of England & Wales,HDS, ISBN 0-9540032-0-9 p 12 2001
“Vision of Britain — Administrative Units Typology — Status definition: Hamlet”. Great BritainHistoricalGISProjecthttp://www.visionofbritain.org.uk/types/status_page.jsp?unit_status=Hmlt Retrieved 2007-08-31.
Lennard, John. William Shakespeare: Hamlet. Literature Insights ser. Humanities-Ebooks,. ISBN 184760028X 2007