Thursday, February 27, 2020

Strategic analysis Essay Example | Topics and Well Written Essays - 1500 words

Strategic analysis - Essay Example Sony has used the following 5 successful methods in managing its strategies. 1. Customer satisfaction Planning also entails knowledge of customer’s lifestyle. Lifestyle is important when designing the type of products to sell to consumers in different regions. Sony uses different measures in ensuring all customers receive quality products and services through Voice of Customer (VOC), Customer Satisfaction (CSAT), and Net Promoter Score (NPS) methods. The processes range from communicating to the prospective markets about the services offered and getting the target customer interested, approaching them and presenting on what the business offers, answering questions and handling customer objections, making sales and providing after sale service. Organizations need to understand the importance of measuring customer satisfaction for ever activity in by considering both the internal and external customers. The customer satisfaction strategy has enabled Sony become one of the most e lectronic competitive company globally by winning a lot of consumers. 2. Analyzing the competitors Sony Corporation faces stiff competition from other major companies in the same industry. The company management has introduced new approaches of analyzing their competitors through implementing various strategies like competitive strategy, and innovation strategy. By learning from their competitors, Sony Corporation has introduced new ideas that aid in market entry and more customer attraction. 3. Creativity The marketing design is highly essential in an organization since it is the fundamental to successful implementation of strategies and achievement of objectives. Multinational business analysis, on the other hand, outlines the potentiality of the business to gain from the market participation. The analysis incorporates strategic levers such as marketing, location and product, and organization analysis such as culture, people, management and structure. Sony becomes creativity by in troducing new products in the market that competitors have never thought of introducing. For instance, Sony Corporation introduced the first plasma TV into the market, Bravia that attracted the attention of many customers (Shin, 2003). 4. Keeping detailed records Sony finance and accounting departments ensure that the company maintains all the crucial information regarding every transaction taking place. A successful business must keep all its records in a secure place for future references. Maintenance of company records gives an organization time to create business strategies that assist in overcoming obstacles that hinder the success of an organization (Constanzo & MacKay, 2008). Record keeping occurs through updated financial statements and accounting details. 5. Consistency Sony Corporation ensures consistence in all its operations. All businesses need to know their target targets behavior and buying attitudes and needs while formulating their analysis strategies. Organizationa l strategy analysis assists in determining what exactly the customers expect to get when they purchase goods or services. It is easier to satisfy and delight customers when their true and perceived needs are known than when they are unknown. In achieving the above, good, competitive, innovation and value chain strategies developed aim at achieving the set goals and missions. A big organization like Sony should implement

Monday, February 10, 2020

HR Essay Example | Topics and Well Written Essays - 2000 words

HR - Essay Example Research on the execution of performance related pay by the OECD, has discovered that mere higher pay does not motivate the majority of staff. Employees are motivated by holism job designing with High Performance Work Practices (HPWP), work which is competent with skill, novel ways of coordinating work, satisfying performance and better employee involvement in the decisions of the organisation. HPWP has the prospective for producing the personality of the employee and output of the organisation. These practices are established on the comprehension that employees are the key of an organisation and so they expect to be treated equitably. Studies prove that the HR systems of high performing companies have several things in common. "High Performance Work Systems" (HPWS) create more job appliers, monitor candidates more efficiently, offer more and improved training, connect pay more openly to performance and provide a more dependable work environment. The vital challenge confronting human resources management is to make available a set of services that is logic in terms of the company's premeditated plan. A tactical plan is the company's sketch of how to match its inner strengths and weakness with outer opportunities and threats so as to uphold a competitive gain. An organisation which has greater involvement and responsibility on the part of employees is said to have implemented a set of management practices of High Performance Work System (HPWS). Bohlander et al (2004, p. 690) defines HPWS as "a specific combination of HR practices, work structures, and processes that maximizes employee knowledge, skill, commitment and flexibility". Barnes (2001, p. 2) states that the notion and thoughts for high performance work systems has conceived its roots from the late twentieth century. It was during this time that the manufacturing industry in America had recognised that global competition had got in and they wanted to reorganize the 'tried and true' manufacturing procedures. Elements of High Performance Working: Figure I showing Elements of a High Performance Work System (Ren Li Zi Yuan Guan Li Ji Chu, 2004) The first element of HPWS is the notion of "increased opportunity to participate in decisions" (Barnes, p. 9) for employees. The capability for an employee to take part in the decision making process is believed to be one of the most important components of an HPWS as it permits the employee to make decisions that affect their instant environment and this in turn affects the whole organization. This contribution results in employees feeling more authorised and in turn leads to a more dedicated workforce, at least in theory. The second element is training. Training helps employees to acquire the required skills to carry out their jobs in a more efficient manner and the chance to presume better responsibility inside an organisation. The third element is employee incentives. Organisations will have to find a way to connect pay with performance. According to Bohlander & Snell (2004, p. 698), if an employee has to focus "on outcomes that are beneficial to themselves and the organization as a whole" then incentive should play an important role. Technology is yet another element which in addition to the 3 elements of involvement, training and incentives, makes up yet another important constituent of modern day HPWS. According to Bohlander &, Snell, (2004, p. 699) "technology does not have to be leading edge technology solutions, but it does