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Title: Business Strategy
Description: This is a Business Strategy assignment level 5. Alternative growth strategies for Sony Ericson
Description: This is a Business Strategy assignment level 5. Alternative growth strategies for Sony Ericson
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BTEC Higher National Diploma in Business
Unit 7: Business Strategy
Assignment 1: Presentation
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Table of Contents
Assignment 2:
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1 & LO 3
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LO 4
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LO 4
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LO 4
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CONCLUSION
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Assignment 2:
This report looks at the possible strategies that can be implemented in Sony
Corporation, how a strategy is communicated
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Suitable targets and
timescales for achievement and monitor strategy will be proposed
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1 & LO 3
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A strategy helps an organization to travel to a desired position, by improving the
overall performance
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Substantive growth strategies are implemented in order to increase market
power, response to market decline, spread risks, gain efficiency and meet
stakeholder's expectation
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Merger is the combination of two different organizations, normally as more or
less equal partners, where both companies submit their stock to the new
company and these could be:
Acquisition happens when a company takes over the ownership of another
company
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Joint ventures exist when two or more parties undertake a specified activity that
is mutually beneficial
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A good example is Sony Ericsson was established in 2001 as a joint
venture between Sony, a Japanese company and Ericsson, a Swedish company
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Strategic alliance happens when two or more companies want to strategically
achieve a new area of expertise or access to new markets or product (Marzec,
2013)
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A market penetration strategy is implemented when marketing existing products
within the same market
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com
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Product Expansion can be done by developing and adding new features to the
existing products
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Retrenchment is a corporate level strategy that is looking to decreasing
expenses in order to reduce loss and become financially stable
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eg, reducing
workforce
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Retrenchment was a curative action for Sony in 2012 when they cut 6% of the
global workforce as an annual loss of $6
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(bbc
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uk, 2012)
Taken in consideration the downturn in the business, an appropriate future
strategy for Sony Ericsson would be a limited growth strategy in order to gain a
competitive advantage and increase sales and profits
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Creative people with
great ideas should be chased as it can make a good strategy as well as analyzing
customer needs and competitors performance
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1 Roles and responsibilities for strategy implementation
The roles and responsibilities for strategy implementation in two different
organizations can have many common objectives and goals and in the same time
be very different
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Regardless the chosen strategy that is to be successfully implemented, it is
important to understand roles and responsibilities, the major goals or problems
the company may have, the values, vision and objectives
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The strategic project manager and the operational manager must
ensure that the company has the best personnel and enough skilled work force in
order to get the work done, to meet customer expectations, beat the competition
and analyze market data
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Implementation is the final step where the managers will analyse the various
required resources, strategic planning, control and change
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From the time when he first joined Sony
Corporation in 1984, Mr Suzuki has performed different important roles
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Dennis van Schie joined Sony Ericsson in 2002
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With a vast experience, all the above-‐mentioned are directly involved in business
strategy implementation
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Business-‐level strategy or competitive strategy is closely related with
corporate-‐level strategy and aims to look at innovation, how the businesses
should compete and respond to competitor
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Operational level strategies it
is very accurately linked to business-‐level strategy
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2 Resource requirements in order to implement a new strategy
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Some important resources are required in order to implement a new strategy
and are illustrated in the below figure
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Human resources: the employed staff must be well trained, motivated,
encouraged and committed to effectively follow the strategic plan to reach the
proposed goal
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Physical resources:
Production will require materials that could be could assimilate by producing
them or otherwise buying them from different supplier
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(The Times 100, 2013)
With many R&D centers around the world, Sony Ericsson continues to develop
and produce innovative technologies
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Sony is in a very fast moving and
competitive environment and requires a very attentive R&D
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The R&D
team can also be outsourced, as outside expertise might bring in new ideas for
the new product development or applications for which their technology is being
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tailored
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New technologies enable business to operate worldwide
around the clock, therefor maximizing business opportunities and maximizing
the profits
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The strategic plan must be well interpreted and clearly communicated to
internal and external parties
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Identifying the stakeholder, what their interests are
and listen to their opinion is really important on how the business strategy is
going to be applied and what impact is going to have on the business
performance
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3 Targets and timescales for achievement in a given organization
to monitor a given strategy
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Monitoring the process encourages better performance
and ensures that the action and efforts are adapted to the plan
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Drs
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According to Kaplan and Norton "The balanced scorecard retains traditional
financial measures
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These financial measures are inadequate, however, for guiding and evaluating
the journey that information age companies must make to create future value
through investment in customers, suppliers, employees, processes, technology,
and innovation
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It is important to know that the
company takes the right initiatives and monitor the strategy implementation
progress to assist the organization in achieving the proposed goals and
objectives
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This way the organization can
measure their performance against the competitors; evaluate own effectiveness
and improved strategy
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CONCLUSION
In conclusion, Sony Corporations is in a solid position to fulfill its goals and
objectives
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Furthermore, if Sony dedicates plenty resources
to research and development and prioritize investments appropriately, has
ability to effectively maintain the product quality and meet customer’s
expectations
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(2014, 01 25)
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Retrieved
04 05, 2014, from Balanced Scorecard Instute:
https://balancedscorecard
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aspx
bbc
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uk
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News Business
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bbc
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uk: http://www
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co
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(2009, 05 17)
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Retrieved 04
04, 2014, from earlsbusiness
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com:
http://earlsbusiness
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com/2009/05/17/part-‐v-‐strategic-‐planning-‐–-‐
strategic-‐audit/
Earl's Business
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Strategic Planning – Strategic Audit
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wordpress
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(2013, 10 15)
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Retrieved 03 25, 2014, from Small Business:
http://smallbusiness
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com/difference-‐between-‐joint-‐venture-‐strategic-‐
alliance-‐11922
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(2013, 05 22)
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Retrieved 04 2014, 05, from www
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net:
http://www
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net/SonyInfo/News/Press/201305/13-‐065E/
The Times 100
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Marketing theory
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co
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co
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html#axzz2xxUk6SUs
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Title: Business Strategy
Description: This is a Business Strategy assignment level 5. Alternative growth strategies for Sony Ericson
Description: This is a Business Strategy assignment level 5. Alternative growth strategies for Sony Ericson