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BUSINESS STRATEGY OF SONY ERICSSON

ASSIGNMENT 3

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• 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.

INTRODUCTION

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• 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).

Sony Ericsson Business Strategy


• Stakeholders in a company is considered as any group or individual who can be influenced by or influence the achievements of organizational objectives.

Stakeholders


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• 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).

Sony Ericsson 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.

Primary Stakeholders


• 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.

Contd.


• 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.

Secondary Stakeholders

• 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.

Contd.




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• 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).

IMPORTANCE OF STAKEHOLDER ANALYSIS


These are external features that affect the company’s regular operations. They are:

• Political• Economical• Social• Technological• Legal• Environmental

Sony Ericsson Environmental Audit


It includes the following:• Buyers bargaining power;• Supplier bargaining power;• Competitive rivalry;• New entrant threat;• Substitute products threat.

Porters Five Forces Model


• It is referred to organization’s strengths to take available opportunities in the market and weaknesses in attaining competitive advantage (Wang, 2009).

Company’s Internal Audit


• 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).

Strategic Planning




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• 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.

Issues Involved In Strategic Planning


• 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).

Different Planning Techniques


• McQuerrey, L., 2013. The Importance of Using Stakeholders to Communicate Your Messages. [Online]. Available through: <http://smallbusiness.chron.com/importance-using-stakeholders-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/csr-rse.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].

REFERENCES


• Klatt, T., Schlaefke, M. and 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.

Contd.




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