Essays on Strategy Being Adopted by Sony to Regain Lost Market Share Case Study

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The paper "Strategy Being Adopted by Sony to Regain Lost Market Share" is a perfect example of a business case study. Sony Corporation has been faced with serious financial problems several times in its history. However, this is one of the corporations that have managed to withstand various crises, since its establishment in 1946. There was an initial attempt to restructure in 1983, several attempts in the 1990s, and in 2003 and 2005. These were meant to achieve various objectives, but the key purpose to adjust itself to face emerging challenges and remain relevant amidst ever-increasing competition.

However, in spite of the multiple attempts, problems have persisted and it has never been a smooth ride for the giant Japanese Corporation (Chang, 2008). The corporation has been hugely successful in the initial years and experienced immense growth. However, intense competition in the mid-90s forced the company to re-evaluate its structure in order to remain competitive and relevant. In 1994, the corporation started restructuring with the aim of improving financial performance and competitiveness in the industry. This did not yield much result. In 2000, the corporation decided to restructure its top management.

This was in a bid to create better administrative structures, as well as initiating new talents and skills into the management. However, this too failed to put the giant corporation on a growth track and thus another restructuring was needed. This time the company acquired a non-Japanese CEO, who came in and initiated numerous reforms in the year 2005. During the period between 2000 and 2001, there was a significant slowdown in the IT industry, on which the corporation has based its products.

This resulted in a major decline in computer sales, and the company had to take action to counter this decline in sales. With this, the company started investing in broadband network solutions. The restructuring initiated by the new CEO from 2005 was partially successful. By the end of the financial years in 2007 and 2008, the efforts were beginning to bear fruits as evidenced by an increase in profits.  

References

Chang, S. 2008. Sony vs. Samsung: the inside story of the electronics giants' battle for global supremacy. Singapore: Wiley.

Frisch, A. 2004. The Story of Sony. North Mankato, Minn.: Smart Apple Media.

Sony cuts staff in restructure. 1999, March 15. Electronics Times, 36, 77-81.

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