BUSINESS STRATEGY OF SONY ERICSSON ASSIGNMENT 3
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INTRODUCTION • Business strategy is defined as long duration approach of
executing corporation’s business plan for achieving its overall goals. Here, the following presentation is defining about Sony Ericsson business strategy that is known as one of leading cell phones company.
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Sony Ericsson Business Strategy • On 1st October 2001, Sony and Ericsson joint venture has
been occurred. After that period, both firms begin to work mutually, with an aim to become leading brand of communication entertainment by cheering people to do more than only making interaction on mobiles and enabling everyone to participate as well as create entertainment experience (McQuerrey, 2013).
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Stakeholders • Stakeholders in a company is considered as any group or
individual who can be influenced by or influence the achievements of organizational objectives.
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Sony Ericsson Stakeholders • Due to effective contribution and involvement of its
stakeholders Sony Ericsson has been very successful. These stakeholders are divided into primary and secondary (Klatt, Schlaefke and Moeller, 2011).
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Primary Stakeholders • Customers – They are end users of organization’s
products. • Suppliers – They deliver resources to be used by company
in manufacturing of its goods and services.
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Contd. • Shareholders – These are the owners of company. They
invest their money to propel the firm to achieve its goals. Employees – They are business workers and are linked directly with its continuous operations and hence determine the output of company.
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Secondary Stakeholders • Media – They have great role in Sony Ericsson’s growth.
The firm uses media to reach target customers. • Government – The government plays a significant role in shaping external framework in which business operates.
Contd. • Local community – They offer local infrastructure that a
company needs to attain its goals. • Competitors – Competitors in the industry presence supports in enhancing the products produced and services rendered.
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IMPORTANCE OF STAKEHOLDER ANALYSIS • It is important for Sony Ericsson, as supports in analyzing
interest of stakeholders that can be influenced by business policies and operations. Moreover, it helps in determining potential conflicts and risks, which would expose the business operations (The importance of stakeholder engagement con't, 2012).
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Sony Ericsson Environmental Audit • • • • • •
These are external features that affect the company’s regular operations. They are: Political Economical Social Technological Legal Environmental
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Porters Five Forces Model It includes the following: • Buyers bargaining power; • Supplier bargaining power; • Competitive rivalry; • New entrant threat; • Substitute products threat.
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Company’s Internal Audit • It is referred to organization’s strengths to take available
opportunities in the market and weaknesses in attaining competitive advantage (Wang, 2009).
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Strategic Planning • Strategic planning is referred to procedure with which the
company’s guiding members envision its future period and develop essential process and operations to achieve future objectives (Smith, 2006).
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Issues Involved In Strategic Planning
• In the individuals personal value system ethics and social
responsibility occupy an essential place. Customers confidence in business activities has been severely shaken by recent corporate scandals and collapses, like bank failures. Hence, for Sony Ericsson it is significant to consider incorporating ethics and social responsibility in its process of strategic planning.
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Different Planning Techniques • Through strategic planning an organization define its
strategy, direction and decision making on resource allocation to practice this strategy, such as capital and people. There are several business analysis techniques available, such as SWOT, PEST, STEER and EPISTEL (Strategic Planning Tools and Techniques, 2013).
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REFERENCES • McQuerrey, L., 2013. The Importance of Using Stakeholders
to Communicate Your Messages. [Online]. Available through: <http://smallbusiness.chron.com/importance-usingstakeholders-communicate-messages-36159.html>. [Accessed on 21 November 2013]. • The importance of stakeholder engagement con't. 2012. [Online]. Available through: <http://www.ic.gc.ca/eic/site/csrrse.nsf/eng/rs00139.html>. [Accessed on 20 November 2013]. • Strategic Planning Tools and Techniques. 2013. [Online]. <http://work911.com/planningmaster/faq/indextools.htm>. [Accessed on 19 November 2013]. Contact Us: +61 879 057 034
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Contd. • Klatt, T., Schlaefke, M. and
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Moeller, K., 2011. Integrating business analytics into strategic planning for better performance. Journal of Business Strategy. 32 (6). pp.30 – 39. Al-Shammari, A. H. and Hussein, T. R., 2008. Strategic planning in emergent market organizations: empirical investigation. International Journal of Commerce and Management. 18 (1). pp.47 – 59. Deitche, M. S., 2010. Green Collar Jobs: Environmental Careers for the 21st Century. ABC-CLIO. Wang, F. H., 2009. Web-based Green Products Life Cycle Management Systems. IGI Global Snippet. Smith, B., 2006. Making Marketing Happen. Routledge.
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