Japanese Economy Essay

2957 words - 12 pages

Introduction
In this assignment I will talk about Sony Corporation the company was founded in 1946 by Masaru Ibuka and Akio Morita. The two founders are great leaders and have contributed to great ideas within the company where they have built an empire worth $60 billion. With the headquarters based in Tokyo Japan, Sony is based amongst the top 5 most successful and largest companies to date. As one of the top leading electrical manufactures of products, Sony is famous for products such as, The Walkman, television sets, Sony Ericsson mobile phones, dvd/blu ray players, digital cameras and the very popular games consoles PS1, PS2 and PS3. Sony Corporation is well known all over the globe and ...view middle of the document...

Customer expectation is well recognised within the company; the products that are produced are always top quality and set a bench mark with other competitors to compete. One of the Key practices in the management of Sony Corporation is the word innovation which travels all the way back to 1946 where the word was used to describe the company for its ability and unique product development. Since the beginning Sony has been demonstrating the ability to be able to enhance people’s lives through the use of technology. Doing so has had benefits on the way people operate daily by creating products that are for general use whether to entertain or to help with those things they need help with. Sony believe the Innovation of products has helped them achieve what they want and prove to the world how good they are with what they do, where they are sure that innovation will also let them stay on the top for the next 50 years to come. Sony believe that they have major responsibilities within the way the company operates and that in order keep their reputation and value enhancement, they have to work targeting the company’s main strategy which is innovation. Like every other company Sony believe that the business practises have impact on internal and external sources, they make sure that before the activities are carried out the assets the outcome and see the impacts that it will have on societies, therefore making decision on taking decisions from the internal sources within the business such as, shareholders, stakeholders, employees, business partners and external sources such as, local communities, suppliers and other possible organisations.

Sony believe in visionary leadership, they are one of if not the best in doing so, they understand the importance of visionary leadership along with the right strategy Sony knows it is the path to lead the company and the brand name to the very top of all other competitors within the market. The management department understood the importance of this practice and with the approval of the CEO and his help they allowed the company to be able to expand the innovation of the company and created an environment to custom new operations within the company. Branding is very important and Sony were and are still aware of the importance it has, the management team are very successful at remembering this as the practise of visionary leadership allows the company to expand further in whatever way they can in order to have a head start over competitors. Sony as a Japanese company follows the management practises from its traditional values. Business is very important in Japan and it is taken highly important as there are rules to be followed, respect is very important in the society and it is so with Sony. Sony believe that decision making is very important and that it is executed efficiently and swiftly, Sony have many competitors and due to the competition across Asia it is important that Sony make sure that innovation is up...

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