HOW HAS SONY BEEN ABLE TO DEVELOP A BUSINESS CULTURE, WHICH PROMOTES CONTINOUS INNOVATION?

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Introduction

HOW HAS SONY BEEN ABLE TO DEVELOP A BUSINESS CULTURE, WHICH PROMOTES CONTINOUS INNOVATION? Contents Introduction............................................................3 Main Findings.........................................................3 Conclusion..............................................................4 Appendix 1.............................................................5 Appendix 2.............................................................6 HOW HAS SONY BEEN ABLE TO DEVELOP A BUSINESS CULTURE, WHICH PROMOTES CONTINOUS INNOVATION? INTRODUCTION For a firm to be successful innovation is the key to it (appendix 2). The innovation capacity of an organization depends on the culture of the firm, internal and external environment. A business's strategy must therefore be to increase the innovative capacity of the firm. Generally to increase the innovative capacity there are a number of factors which have to be taken into account: A clear sense of mission and purpose. One of the company's aims is continuous improvement, which has to be supported by total quality management and full customer satisfaction. A team based working approach towards different projects and problem solving. Risk taking is a major challenge for the company. Which has to be accepted. Constant communication with customers applies investors and employees. It also depends on the environment where new ideas and free communications are encouraged. The environment is one of openness, where new ideas and free communications are encouraged at all levels. Feedback from the stakeholders is constantly in the process. Sony is a leading manufacturer of audio, video, communications, and information technology products for the consumer and professional markets. Its music, motion picture, television, computer entertainment, and online businesses make Sony one of the most comprehensive entertainment companies in the world (appendix 2).

Middle

(appendix 1) Conclusion- In my opinion the capacity of the firm to innovate depends on many factors, not least the effort the make to create new products or improve production processes, the extent of skills in their staff, their ability to learn and the general environment in which they operate. Sony being a successful organization has achieved effective factors by continuous innovation. Though the company using innovation could make the product effective and be ahead of the competitors, some strict government rules take place and other restrictions in the business, which do not allow the Sony to excess their limits. The innovation capacity of an organization is depended on how the culture of the firm is in both the internal and the external environment. APPENDIX 1: http://news.sel.sony.com/corporateinfo/sony_brand/ Sony: The Leader in Product Innovation The new millennium is here and Sony has plenty to celebrate. The company's approach - doing what others don't - has paid off, in the form of great products that people covet. Throughout its history, Sony has demonstrated an ability to capture the imagination and enhance people's lives. The company has been at the cutting edge of technology for more than 50 years, positively impacting the way we live. Further, few companies are as well positioned to drive the digital age into homes and businesses around the world for the next 50 years and beyond. Sony innovations have become part of mainstream culture, including: the first magnetic tape and tape recorder in 1950; the transistor radio in 1955; the world's first all-transistor TV set in 1960; the world's first color video cassette recorder in 1971; the Walkman personal stereo in 1979; the Compact Disc (CD)

Conclusion

Thirdly, bring business innovation into all corners of the organization. Sony is the only company in the world that spans such a broad gamut of consumer electronics. Video-gaming hardware, entertainment software from music to movies, headphones, cameras, PDAs -- an organization as resource-deep as Sony has the opportunity not only to set the standard in dozens of product lines, but also to create new and innovative products and services that others cannot. Sony's various engineering and design teams will literally be closer together after the restructuring. With so many creative forces so closely concentrated, the company has a rare opportunity to create incentives for new ideas that cross division and product lines. Mr. Kutaragi invented the high-end video game industry by first envisioning a product that was beyond the imagination of the rest of the world. He then built a critical profit center for Sony on a model as old as the razors-and-blades lesson from business school: sell low-margin hardware as a platform for high-margin software. The result was a company that generated 60% of Sony's profit in 2001-2002. Sony's strengths in content and technology suggested the natural synergies that Mr. Kutaragi found -- but it took a rebel to see them and transform them into a business. As Sony evolves, rebellion to innovation should be its new foundation. Imagine the possibilities for Sony if the Kutaragis of tomorrow come up in a company where encouragement to innovate is the very fiber of the company. The next Walkman may not be that far away -- nor the next Ken Kutaragi. Business and Economics (Year 12) Task 1 Chetan Manik 1

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