Essays on Innovation In Business Assignment

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The paper 'Innovation In Business' is a wonderful example of a Business Assignment. The organization under consideration for this project is Sony Corporation. Sony was formed over 70 years ago (on May 7th, 1946) by Masaru Ibuka and Akio Morita (Sony 2017). Its headquarters is in Tokyo (Japan), with 16 other locations around the world, as of 2016. This Japanese multi-global conglomerate, among other things, deals with insurance, banking, credit finance, financial services, advertisements, and entertainment, while also largely known for its products such as computer hardware, video games, semiconductors, consumer electronics, and a host of other telecommunications equipment (Sony 2017).

With over 130,000 employees across the world (as of 2016) and total assets worth a staggering 17 trillion Yen (Sony 2017), Sony provides a very insightful case study for management and business learning. Part 1: Programs, Systems and Processes Review Changing Trends Sony is always faced with different opportunities and threats from time to time. For one, the company stands a good chance of entering and firmly integrating itself in the sector of healthcare imaging in a very big way through the potential acquisition of over a third of the stake in Olympus (Sony 2017).

Moreover, Sony will continue entering various markets through joint ventures and strategic acquisitions. The joint venture with Sharp, the alliance with the Hon Hai Precision Industry in Taiwan, and the recent acquisition of Epson’ s TFT LCDs are just instances of how Sony continues to benefit from such mergers and acquisitions (Sony 2017). Sony is also now able to independently act and bring innovations to the tablet and smartphone market following the recent buying off of the entire joint venture with Sony Ericsson.

The four-screen strategy also promises new experiences for video games, music, and movie lovers. However, Sony continues to face stiff competition from rivals such as LG and Samsung, which provide low-cost products like mobile phones and televisions. The idea of an Apple TV is also bound to create a formidable competition for Sony in the global markets, even as Sony continues to contend with hackers with leads to costly consumer information leaks (Thompson 2013). Systems and Processes Basically, a system denotes a course of action/ method/ process/ procedure that is established to achieve a given outcome (Thompson 2013).

The components of a system are interrelated and function together for the good of the company. Sony has numerous systems. One such important system is its quality management system (Sony 2017). This system entails processes such as product planning, product development, product design, product manufacturing, sales, and customer service (Sony 2017). The system includes establishing authorities, responsibilities, and roles of the personnel in charge of product, and those who ensure quality customer service, in addition to the establishment of guidelines for the various processes.

Other systems include environmental audits, research and development, risk management, and corporate social responsibility (Sony 2017). Monitoring and Evaluating Systems and Processes In order to monitor and evaluate the systems and processes in place, it is necessary to first create review dates, then develop a tracking system (that monitors change), co-ordinate marketing and business plans, and where necessary, make changes (Thompson 2013). The systems should be checked if within the parameters of the objectives and aims. All systems and processes should be consistent with the values, mission, and vision of the organization.

For CSR initiatives, data should be collected to determine how the public is benefiting from the initiatives (Thompson 2013).

References

Sony USA - Electronics, PlayStation, Movies, Music, Product Support, 2017. Retrieved February 08, 2017, from http://www.sony.com/

Thompson, A., 2013. Crafting & executing strategy: The quest for competitive advantage. S.l.: Irwin Mcgraw-Hill.

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