Assignment 1
The Context of Business Strategy
It is the long term approach aimed at implementing a firms business plans so as to achieve the objectives of the company. Business strategy helps provide superior values for an organization, differentiation and core competencies.
Objectives
Objectives of an organization are the specific outcomes that an organization wishes to operate within through carrying out different activities. They should at all times stated precisely for it can be easily be measured whether the objectives are achieved or not. For instance, there should be a step by step activity to make it easier for judgment on the accomplished task plus the task that is remaining.
Mission
The mission helps describe the basic function of the organization in a given society. This is done to spread the belief and knowledge among the population. In case of Sonny Ericson organization, its aim was to be a top cellular company in the society. This would help the society know why the organization existed. The company target was on the young generation since they are mobile fanatic plus they love entertainment. The firm wanted to be known for its high class entertainment mobiles.
Vision
Vision statement of an organization helps determine the future given that the organization achieved its mission. It helps imagine the success of an organization in a situation where the company managed to achieve its mission. The company wanted to be a profit making firm and a leading mobile seller in the world. Since the beginning of its operations, the firm has been moving in the right direction.
Goals
Every firm has its goals although the most common approach is the improvement towards technology growth. A firm always wants to improve the quality of services and products it has, expansion of the firm’s operations, and improve its market share. For Sony Ericsson firm, it wanted to set an amount of market share so as to create an environment appropriate for its development.
Core Competencies
This is a key factor that a firm sees as the central aspect of its operations. Sony Ericsson core competency was technological factor. It wanted to give its products something new and different which its competitors lack. Walkman phones were the first technology growth products that gave it a new look.
Analysis of Stakeholder is an approach used to investigate and identify the forces fields created by any group or person who is capable of being affected by the achievement of the firm’s objectives.
Board of Directors
These are the main owners of the firm and they change passage over time. Their focus is to operate with strategies and work on key decision making activities of the firm. They always want an increase in status and power so that they can retain in control. Lars Magnus Ericsson and GE-Marconi are among the board of directors.
Importance of Stakeholders
Whether direct or indirect, stakeholders of an organization plays a significant role. They are individuals who have interest towards what the organization is conducting. Managers in Sony Ericsson helps carry out the organization management activities. Employees in the organization help carry out and accomplish the firm’s daily activities. Customers gives the firm ready market for its services and products while competitors helps the managers develop sound decisions based on the concept of competitive advantage.
PESTLE Analysis
Firms are operating differently depending on the region they seek to operate. Because of the issue of market deregulating, Sony Ericsson has the authority to enjoy independent rights of operation in any country.
Porter’s Five Forces
Competitive Rivalry- Nokia, Motorola, and Samsung are the rivals of Sony Ericsson. The firms have the capability of bringing new products that have unique features plus they are cheaper compared to Sony Ericsson. Threats of New Entrants: A good number of smart phones are entering the market and grabbing attention of customers and this pose a threat for Sony Ericsson entering the market. Threat of Substitute products: Technology is changing and produces substitutes such as voice chats and videos that will limit the use of Sony Ericsson products. Bargaining power of Consumers: Most firms are focusing on unique products and selling them at affordable rates. This leaves consumers with the final decision on the type of phone to buy.
Ansoff Matrix of Sony Ericsson
It helps decide the future of this company. The technique helps the company work on its future development. It is a useful strategic positioning technique for Sony Ericsson for it advises the management on making decisions such as expansion attempts as well as the existing and new market. The firm has the opportunity to seek out on different pricing policies and product development.
Assignment 2
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