We all are well aware of the fact that the education design has evolved immensely over the past few years. A practical approach is preferred more over the monotonous theoretical knowledge. One such tool to understand the complex concepts easily is known as a case study. A case study is basically an in-depth observation of a specific scenario or situation related to a company or organisation. It is an effective way to narrow down a vast topic into something that can be researched or studied easily. The use of case studies in the field of business and management has been of great help to scholars pursuing their education in the field in understanding the complicated concepts easily. A business case study helps a student to investigate new trends and disciplines in the field of business and is also useful in demonstrating how the various models and theories are applied to the real-life situations of an organisation.
A case study might not directly answer your hypothesis question but it definitely provides indications and elaboration on the topic selected for evaluation. The design of a case study is planned in such a way so that it acts as a beneficial tool in testing out theories in the actual world. Theoretically, you might come up with great accounting models in order to describe how the salary structure of an organisation works but you'll only be able to see it's working accuracy by trying it out in a real-life scenario.
For researchers and scientists, a case study is defined as a valid method of exploring areas for many years now. Researchers often get bogged down in the general picture of a topic and thus, it becomes extremely important for them to look over some similar cases to give a more holistic approach to their work.
Writing a case study is one of the most intimidating tasks a student has to perform while pursuing his education program at the bachelor's, master's, or doctoral level. Students struggle to collect all the essential data on the selected topic. Things tend to get even more complicated when the students are unaware of the organisation or company they're focusing their case study assignment on. One great example of understanding the success story of an organisation is studying the case study of Sony Corporation.
Sony Corporation or Sony is a well-known household name in countries all around the world. Therefore, it becomes a tad bit easier for students to gather information and develop an influential case study on the company. To make things more sorted, this article will provide you with a complete outlook on Sony as a company and how can you write an effective case study on it.
From rice cookers to PlayStations to LED televisions Sony Corporation is a Japanese company that deals with all the major consumer electronics products along with the area of films, financial services, music, and other ventures. The organisation was started as Tokyo Tsushin Kogyo by the engineers Ibuka Masaru and Morita Akio in the year 1946. The relationship between the two engineers lasted for almost forty years and is known as one of the most intriguing and productive relationships in the business sector's history. The expertise of Ibuka and Morita in the areas of product development and business management respectively made Sony reach new heights all around the globe. The name Sony opted for the company in the year 1958. The word Sony is originated from the Latin term Sonus signifying sound. It was accepted internationally by diverse nations and not just Japan.
Rice cooker was the first official product launched by the company. Even though the product did not make a huge mark in the market, the name of the company was spread off successfully in the households. Further the electrical equipment and radio repairing business of the company abbreviated its name in every nook and corner. It was in the year 1950 that the company launched the first tape recorder of Japanese design. Just like the rice cooker, the tape recorder too did not perform exceptionally well for the company and did not bag many profits for its fortune. In the years 1952 and 1953, Ibuka and Morita signed various deals with the electronics company of the United States to grow the company's reach. It was by the year 1960 that the business of the company started booming in America and lead to the formation of Sony Corporation of America with the HQ sited in the New York City of the nation. It was with the opening of the first store of Sony in America, in 1962, that the first Japenese flag was unfurled in the USA since World War II. This agreement led to the development of the most successful product like for Sony, i.e. the transistor radios. In the year 1957 TR-63, Sony's pocket-sized and inexpensive radio attracted the attention of various customers. It was the pocket radios of the company that made it a favourite brand among international consumers all around the world.
In 1964 Sony launched its first all-transistor desktop calculator called MD-5 in the New York World's Fair. In the year 1968, the company delivered its foremost Trinitron colour television and by the year 1971, 40% of the households in Japam were proud owners of colour television sets. It was in the year 1975, Sony came up with Betamax VCR, its first coloured video cassette recorder. Betamax was considered to be the finest VCR technology established to date at that time but was also quite expensive than its competitor products available in the market. With the launch of numerous VHS options in the market Betamax soon lost its position and Sony finally came up with its own Video Home System in the year 1988.
The portable tape player of Sony, called the Walkman, hit the markets in the year 1979. The company was taking a huge risk by designing a product which could only play and not record thus, Morita assured the employees by saying that he would resign from the organisation if Walkman was not a success. Eventually, the product was a sensational hit all around the globe and sold approximately hundreds of millions of units. In the year 1982, the company came up with its first compact disk player. The CD player came into existence with Sony's development collaboration with a Dutch company, Philips Electronics NV. This launch was followed by the introduction of the company's first camcorder in the next year.
In the year 1968, Sonny started its operations in the United Kingdom and continued to grow in all the major European countries during the '70s including France and Spain. In the year 1986, the electronics giant started its functions in Germany. The mobile, gaming, imaging products, and the Sony pictures divisions are still the most profitable sectors of the organisation even in today's competitive market scenario.
By the era of the late 1980s, the executives at Sony especially Norio Ohga, the chairman of Sony Corporation America and also the company president desired to include entertainment content to Sony's operations sector. It was by the year 1988 that the company acquired CBS Records Group, the world's largest record company, from the CBS Inc. In the year 1989, Sony bought Columbia Pictures Entertainment, the largest American company acquired by a Japanese organisation at that time. This purchase created a strong buzz in the United States of America.
It was the year 1990 which brought in problems for the Sony Corporation. The Japanese oriented company entered the recession period which lasted for almost a decade. During the same timeframe, the firm also lost both its founders Ibuka and Morita due to heart strokes. The electronics company announced its first loss of more than $200 million in the year 1993. Despite all the hurdles, Sony continued to develop and introduce new products in the market and eventually a ray of hope arises for the company in the form of the PlayStation video game console. The entertainment department of the firm came up with gaming console for the Japanese consumers in the year 1994 and the product was such a huge hit that by 2002 it was contributing more than 10% to the organisation's annual revenues. Another era which was paying off in profit to the company was from its online entertainment division specifically through EverQuest, the internet virtual reality game. The robot dog AIBO and the line of personal computers, VAIO, also successfully captured the interest of several consumers in the world. VAIO was an expensive system and was designed to target the individuals who are concerned about evolvement and collaboration of multimedia programs.
As the disappointing financial reports continued to flow in, in 2005 the position of Howard Stringer was raised up from the chairman and CEO of Sony Corporation of America to chairman and chief executive officer of Sony Corporation. It was a surprise for many that a non-Japanese person was selected to direct the parent company of Sony although the 2/3rd employees of the organisation all over the world were not Japanese. It was in the year 2009, that Howard Stringer also became the president of the electronics department at Sony. Howard applied various cost reduction strategies and streamlined operations to revive the organisation but unfortunately, Sony continued to struggle. In the year 2012, Stringer stepped down from his positions at the organisation which were then succeeded by Hirai Kazuo. The company continued to take various measures to reduce the costs and also sold its multiple real estate holdings to overcome the downfall it was experiencing. In the year 2013, Sony sold its US headquarters for more than 1 billion dollars.
In the year 2018, the Corporation Strategy Meeting of Sony was held in the month of May in Tokyo, Japan. The current President and CEO of Sony Corporation, Kenichiro Yoshida, shed light on the organisation’s mid-term strategy and corporate direction in this meeting. The presented strategical approach forms a roadmap for Sony to follow for the upcoming three years, commencing from the fiscal year ending i.e. March 31, 2019.
The objective and mission of the company have always been to inspire and satisfy the sense of inquisitiveness of its consumers. The company strives on the motto of moving potential consumers emotionally to get closer to them. KANDO, a Japanese term, effectively expresses this mission of the company. Sony well-planned, sustainable efforts aim at producing great societal value and high profitability rates across the three major business segments finance, electronics, and entertainment, all with the assistance of KANDO.
Sony Corporation has a strong methodology to achieve the aims set for the near future. Here’s a complete overlook at the strategies of the establishment
Along with the key objectives, Sony Corporation also highlighted the long terms goals planned by the company to reach greater heights in the forthcoming days in its Tokyo meeting. The electronics giant Sony Corporation is one of the highest-ranking companies in the list of Fortune 500 companies in the world. Sony’s is adding durable efforts in forming a long term vision that helps in forming its social worth since past some time now. Here is a list of some of the notions that the organisation looks forward to delving into.
The above-mentioned approaches help us to gain a clear idea about how the Sony Corporation aims to function in the forthcoming days and years. It will be interesting to note that these strategies remain the same after the three long years.
Company or corporate values are established by an organisation to represent its core beliefs upon which the entire business and the decisions made are based. Here’s a list of the guiding ideologies that are used by Sony to manage its relationship with the employees as well as the consumers
Revenue is defined as the amount of money an organisation has received via the sale of its services or goods to the valuable customers. It is the initial item of any financial income statement from which the costs and expenditures are deducted to reach the net income attained by the company. Here is the annual or quarterly history and growth rate of the Japanese company, Sony, from the year 2016-19.
It might not be possible for us to summarize all the aspects of the seventy-year-old Sony empire in one article only but with all the details presented above it is quite clear that the Company has complete knowledge of how to work out things in today's competitive electronics market sector. It is both fascinating and knowledgeable to know that Sony has never been one of the companies that follow the trends set by the other industries, it has always developed its own innovative products to set its position in the market.
The policies and strategies followed by the organisation usually stress upon forming the social worth of Sony Corporation as a whole. Despite all the difficulties, Sony has maintained its position as one of the topmost electronics manufacturer company in the industry. Based on the information provided above it can also be said that the majority of the elements have worked out in favour of Sony only.
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