Analysing a global player on a fast changing technological market - Sony
TABLE OF CONTENT
. Executive summary 3
2. Introduction 3
3. Analysis 4
3.1. STE(E)P(LE) Analysis 4
3.2. Porter's five forces 8
3.3. Stakeholder Analysis 12
3.4. Mission statement 13
3.5. Analysis of resources, capabilities & key success factors 14
3.6. BCG-Matrix 16
4. The organisational structure of Sony 18
5. Sony and the movie industry 19
6. Conclusion 20
7. Recommendation 21
8. References 22
.
Executive summary
In the following report you will find an extensive analysis of the global player Sony. It is based on a case from the late 1980ies.
In this report we are analysing both the external and the internal environment of Sony in order to get a clear overview of Sony's markets, customers and competitors but also of Sony's success and the problems the company is faced with.
The report includes following findings:
* Sony is an successful global player and operates on many different, very complex markets
* the fast innovation of technique and consumer wishes demand fast changes high R&D and excellent quality standards
* already established companies have an advantage by their strong brands
* the whole industry is combined with high costs
Because of these findings Sony is recommended to find new ways of product placement and how to make their products standardised. In the main operating sector of Sony - the electrical sector - the standardisation of products brings high profits. Therefore high quality and fast innovations play a very important part. To reach this goal also cooperation's with competitors will be necessary.
2. Introduction
To get a better idea about which aspects help Sony to be successful but also where their problems are hidden, we concerned following analyses.
For external factors we did:
* STEEPLE
* Porter's Five Forces
...moreover for internal factors we used
* Stakeholder Analysis
* Mission Statement
* Analysis of Resources, Capabilities & Key Success Factors
After each analyse you will find a conclusion which will help you to sum up and get an idea what this means for the company. It will also show why we chose these analyses and which information we hoped to get out of it. For a better and quicker understanding we illustrated the different points as good as possible.
To give information how Sony is working in general and which business they are also in we included a short overview of the organisational structure and "Sony in the movie industry"
3.
Analysis
3.1. STE(E)P(LE) Analysis
We decided to use the STE(E)P(LE) Analysis to find out the external factors which influence the technology business and to get a first overview.
Sociological Factors:
Nowadays we can find a trend of an "all in one" product. That means one product is used as a telephone, internet, radio, organiser and a camera for example. Furthermore the products become more and more fast, smaller and easier to handle.
Especially young people want to be up to date - it also has a psychologically effect in their environment and relationships. For many people technological products are a part of their life or it improves their lifestyle.
Especially in Japan employees are considered to be a part of a family and therefore the company has a responsibility to maintain their employment. Furthermore there are regularly meetings between the managers and the employees to maintain a good relationship and to find out what is going on.
In this branch they want to create rather generalists than specialists. That means an employee changes regularly his tasks and learns therefore new things.
Another issue is that this industry improves the lifestyle of its employees by offering flexible work style.
2003, the Sony Group (Japan) employed 63,500 people, 28% of whom were women. The percentage of women at the management level of the Sony Group (Japan) was 2.4%.
Male/Female Ratio Among Management Level Personnel in the Sony Group Japan
Total of 11,360 management level personnel in the Sony Group (Japan), as of March 31, 2004.
2003, the Sony Group (U.S.) employed 19,800 people, 38.1% of whom were women. The ratio of women in management level was 31.9%
U.S.
Total of 4,380 management level personnel in the Sony Group (U.S.), as of July 31, 2003.
Technological factors:
The market of electronic business is determined by fast technology changes and rapid innovations. This leads to high costs for technology and research & development. Consumers expect more and more products which are easy to handle.
Today innovations of Sony are e.g. VAIO notebooks that raise the bar in both form and function; digital cameras that capture pictures on a floppy disk, CD-R or Memory Stick; a handheld device that lets you store and view photos as well as moving photo; MiniDisc recorders with a digital PC Link to marry high quality digital audio with downloadable music; DVD/CD multi-disc changers that playback both audio and video; digital network recorders that pause, rewind and fast-forward "live" television using a hard-disc drive; and Hi-Scan flat screen TVs that deliver near HDTV picture quality through Digital Reality Creation (DRC) circuitry.
Through research and development, the company has made considerable inroads in the areas of professional broadcasting; mobile communications; PCs; storage and media and, now, the Internet.
An upcoming product innovation is for example the PlayStation 3 - this system will use a cell processor, which Sony developed with IBM and Toshiba. The Cell is a multicore processor; in other words, it's like several processors that can handle data and graphics in one. Sony has also said it will incorporate Blu-ray Disc technology, a new optical format that can store up to 27 GB on a single-layer disc, which would be key to producing HD-quality games.
Ethical factors:
"Sit and let people talk... that is where good ideas come from."
Masaru Ibuka, Sony Co-Founder
Taking risks, innovating and continuously seeking ways to exceed customers' expectations are the principles that Sony Electronics lives by. Part of this philosophy requires the company to "push the envelope" or bring to market the technologies of the future.
Sony Electronics believes that in order to maintain an excellent reputation, it must make certain choices about the way it conducts business, from the treatment of its employees to the way it interfaces with customers and with local, state and federal governments. Sony Electronics has carefully developed a distinct philosophy about the way it operates, and believes that it is critical for all employees to understand and comply with the standards of conduct which are the cornerstone of Sony's corporate existence. Through the company's Ethics in Action program, Sony Electronics ensures that integrity, trust and fairness remain key factors in its day-to-day business and management practices.
The company is also committed to protecting and improving the environment in all areas of the company's operations, thereby preserving and enhancing the quality of life of its employees, customers and neighbours.
The Sony USA Foundation Inc. supports numerous national and community efforts annually.
To draw a conclusion one could say that the Sony Corporation is really very ambitious in "sticking to ethical rules" and trying to play a major role in company fairness. This is certainly reflected in the highly motivated employees as well as in the role they play as a global ...
This is a preview of the whole essay
The company is also committed to protecting and improving the environment in all areas of the company's operations, thereby preserving and enhancing the quality of life of its employees, customers and neighbours.
The Sony USA Foundation Inc. supports numerous national and community efforts annually.
To draw a conclusion one could say that the Sony Corporation is really very ambitious in "sticking to ethical rules" and trying to play a major role in company fairness. This is certainly reflected in the highly motivated employees as well as in the role they play as a global player.
Economic factors:
Sony operates in a large variety of different markets. One of the most important ones is the music industry. Music sales are recovering; only the sales of audio and music video formats are declining. In the first half of 2004 the sales of recorded music grew by 1.7 %. File sharing and commercial piracy are still affecting many world markets. Sony tries to compete this with special music download services. These sales through legitimate digital music download services continue to show strong growth.
Another sector of Sony is the consumer electronics market. In future it will get more important that Sony improves their focus with service providers in fact that they can keep up in this rapidly growing market, which is expected to support annual revenues of $ 5.6 billion by 2008.
In future it will be important to cooperate between traditional consumer electronics manufacturers and computer manufacturers in fact to gain consumers. Only some companies operate on both markets. Sony is aggressively trying to build a PC market presence.
While the digital revolution may provide some advantage to new competitors in the emerging digital consumer electronics marketplace, the traditional consumer electronics manufacturers like Sony also have a substantial competitive advantage. They hold the incumbent position in the living room. The PC industry is primarily an innovation-driven. The market rapidly moves to higher performance, new features, and dramatically new capabilities. Prices on specific products fall quickly and new products come quickly onto the market. In contrast, most of the consumer electronics industry is a commodity-driven market. New products emerge with relatively incremental feature and capability changes. Real prices for a given product type fall dramatically.
Political/Legal factors:
Because of globalisation, the political situation in foreign countries is very important for each company. Because of the EU the situation in Europe has become easier because of more unitary laws, taxation and regulations. Removed barriers have made trade easier.
Thanks to Morita's efforts, Japanese government officials began to openly express their discontent with the unitary tax system and asked their US counterparts to take steps to rectify the situation. A growing number of European countries joined the movement to have the unitary tax system abolished, and the movement quickly gathered momentum worldwide.
Environmental factors:
Environmental behaviour is becoming more and more important due to stricter laws in all business sectors, also in the technology sector. "Eco-friendly" production, transportation, packaging etc. is a must to be competitive. With globalisation several environmental factors have to be considered.
Conclusion:
Sony's challenge is to take the lead in an industry racing towards the digital age; an age where technology, products, and markets are expanding faster and faster. Increased competition, globalization, and technological advances have created a unique business environment, one where market dynamics change very quickly. Environmental laws have become stricter and so it is even more important to act in an ecological way. The fast changes in technology in general leads to high investments in research and development.
3.2. Porter's five forces
Industry Competitors:
Within this analysis we focused on competitors analysis which provides us a better understanding of the competitors and their strategies.
Panasonic
Panasonic takes pride in being one of the world's premier electronic manufacturers. The company sells DVD players, televisions and dozens of other consumer electronics products enjoyed by millions. Furthermore they are also a supplier of electronics components. Panasonic is not only a premier maker of electronics hardware, it is also one of the largest global manufacturers of DVD entertainment software.
Siemens
With a presence in more than 190 countries, Siemens is one of the most international organizations on earth. Siemens business contains automation and control, information, communications, rail transportation and services. With 417.000 employees and a total net income of 2.4 million Euros in 2003 the company was below the prior-year figure, primarily as a result of currency effects.
Philips
Royal Philips Electronics of the Netherlands is one of the world's biggest electronics companies with sales of 29 billion Euros in 2003. With activities in the three interlocking domains of healthcare, lifestyle and technology and 166.800 employees in more than 60 countries, they have market leadership positions in medical diagnostic imaging and patient monitoring, colour television sets, electric shavers, lighting and silicon system solutions.
Apple
Whatever the case may be, Apple's innovative and easy-to-use solutions are designed to help you better manage, market and mobilize your business - whether it's designing buildings, baking bread, practicing medicine or creating marketing campaigns. Macs come with many critically acclaimed Apple-designed applications necessary for running a business. All their products are more or less for business use. The main competition ground of Apple vs. Sony lies in the PC market. Although Sony has got an advantage (through permanently improving the design), Apple definitely has the better product placement.
Sangean
The Taiwan manufacturer Sangean first attracted attention of customers through selling cheap analogue radios for travelling under different brands. Nowadays they sell their products successfully under one brand name.
Others
Microsoft; Grundig; JVC; Samsung; Pioneer...
The suppliers:
Today's business environment is constantly changing. To succeed in this shifting environment, Sony needs to build strong links with suppliers.
It is important that Sony and its suppliers share policies, strategies and technology. By working together, Sony and its suppliers can achieve higher goals and generate greater value for the future than it would be possible alone. Collaboration between Sony and its suppliers should ultimately be aimed at earning customer approval. This goal must form the common base of Sony's procurement activities and its suppliers' sales activities. Sony calls suppliers capable of maintaining this kind of collaborative relationship "partners."
Sony believes that cooperation as true partners is critical to supplying products that achieve high levels of customer satisfaction. Sony and its suppliers work together in a wide range of areas - by combining technological skills that complement each other, building powerful supply chains, preserving and enhancing the quality of parts, strictly complying with relevant laws and regulations and contributing to society as a whole.
The buyers:
Sony has a very large variety of products, accommodating a whole bunch of different markets worldwide. So also the consumer behaviour cannot only be constricted to one group. In the following points we quote the main buyers of Sony products.
* First of all, Sony has a huge market as far as personal audio, video etc. is concerned. Here we find the "ordinary, average citizen" buying:
o CDs & Movies
o Personal camcorders, DVD-Players, Home cinema entertainment units
o CD - Players, Woofers, Amplifiers
o Monitors and other PC equipment for home use
* As a second group we see especially the focus on "youngsters":
o Of course also CDs & Movies
o Sony Playstation, Video games, Games hardware (Controllers etc.)
o Walkman, Discman, MiniDisc Systems
o "My first Sony" - product line (electronics for children)
* In addition to that there's another important target group for Sony - not the citizen but companies or institutions selling advanced audio and video, specialized equipment and systems for data recording, duplication, electronic photography/publishing, videoconferencing, high-definition video, interactive and security applications equipment to:
o Broadcast and production markets
o Business and industrial markets
o The government
o Medical markets and education markets
These products and systems offer leading-edge digital video technology in acquisition, recording, production, storage, display and projection.
Entry barriers:
On the markets where Sony is operating the fast changes of technologies through innovation is a very important barrier for entries. Established companies have the advantage that they have very strong brands and stand for high standards. An entry is also joined with very high costs.
The substitutes:
The industry has especially to focus on products of the same quality produced by competitors. Other branded products with lower quality but cheaper in price are also dangerous for the branch. Furthermore no-name products are possible substitutes for Sony, because the majority of people and mainly the young ones prefer of course cheaper goods. Another risk is products from cheaply producing countries like for example Taiwan.
The complements:
In the technological sector where Sony is operating complements play an important role. When a product is launched onto the market, there is often already a complement in planning. This helps to secure further sales. Time plays an important part in this sector. The product of the firm, which first launches the product or complement, is most likely to be standardised.
Conclusion:
The Technology market has become more and more attractive. Although it is very hard for new companies to enter the market the competition has increased enormously. Therefore Sony has to improve their technologies and complements very fast. There are many substitutes which influence the sales extremely. There are three main groups of buyers which tend to switch to substitutes in fact they are of same quality but cheaper.
3.3.
Stakeholder Analysis
For understanding which groups or "persons" are interested in such a company like Sony we chose the Stakeholder Analysis. We will have a look at the stakeholders' opinions on what Sony has to consider and how such aspects can or can't work together.
Conclusion:
Sony considers all of their stakeholders in a very critical way. To ensure a unite behaviour concerning their shareholders they've introduced a corporate governance. This helps to keep transperancy and therefore clarity. To gain competitive advantage they cooperate with some competitors. This fact connected with excellent treatment of the employees and first-class cooperation with the other stakeholders ensures best quality products which are demanded by the customers.
Although SONY considers several interests of its stakeholders, we see a major conflict concerning produkt pricing and costs of innovation. On the one hand a centralized structure ensures flat hierachy, but on the other hand growing companies have to implement shared responsibilty to cover all the different interests of the stakeholders.
Now we want to have a short look at SONY's mission statement to find out how the company works against their issues.
3.4.
Mission statement
Conclusion:
Sony tries to become the strongest consumer brand through well covered structure reforms and strategies. The company also emphasis the importance of the different resources, especially the employees. They help to create the unique Sony spirit.
We see a major problem with the company's philosophy. We think that it will be difficult to use the Japanese culture in subsidiaries in America or in Europe.
3.5. Analysis of resources, capabilities & key success factors
Resources
Tangible Resources
Intangible Resources
Human Resources
* land 1,825
* buildings 8,952
* machinery and equipment 19,741
* construction in progress 947
* 5 headquarters
* high brand awareness
* innovator position
* 85 patents worldwide
* "family culture"
* corporate culture
* alliances with Phillips
* R & D framework
* 162.000 employees
* open-plan office
* generalists
* Sony spirit
* community involvement
In millions $
Capabilities
Capabilities are firm skills in coordinating resources and putting them to productive use.
* combining tangible, intangible and human resources for low cost offers
* qualitative service through experienced employees
* personal market research to fulfill customers needs
* Sony as a prime contractor which helps to create total media solutions
* automated backup management
* to meet the many demands of enterprise data management
* delivers quality, reliability and versatility to meet storage requirements
Key success factors
One of the most important key success factors in the history of the company is the unusual style of managing the firm. Having their main seat in Japan, Sony combined managerial Japanese leadership with Western management methods by putting two long serving Western managers to the parent company board in 1989. Due to this the company was able to successfully combine two management styles and so achieve a widespread, global strategy.
Many of the key factors that contribute to Sony's global success also lie in the paragraphs of their mission statement. Sony's relies on utilizing only fair profit-seeking practices to expand their company and to emphasize business activities of real substance. When expanding globally Sony has more in mind that just increasing the size of their company; they strive to improve profits, technology and innovation for the company through expansion and to be environmentally friendly.
Another key factor to their global success is the selectivity they use in picking their products. Sony is extremely selective when deciding on new products to come out with. They like their products to be sophisticated technologically and very useful to people in all parts of the world. Sony avoids discrimination between electronics and mechanics, and created their products using a blend of both fields. This gives them a competitive edge across the global market.
In 1979 the innovation Sony focused on really hit the road when the company introduced the "Sony Walkman" - a product that since today is one of the most successful establishments of the company.
Another important decision that led to success was the fact that Sony tried to focus his products not only for companies but tried to sell them as "personal". People identified with the products and the prices were calculated in a measure that also the ordinary citizen was able to afford them. Sony focused on "personal video & personal audio" and so living rooms started to be equipped with Sony products all over the planet.
Another important key factor is that Sony didn't (and still doesn't) focus on a certain product line but has a large variety of products such as video equipment, audio equipment, television, records, movies and so on. This variety opens barriers to a very large market for the company.
Competive Advantage
Sony's competitive advantage is set by maximising environmentally friendly production processes, to optimise the use of Computer Aided Engineering and Computer Aided Design and to reduce the wastage of materials.
Sony is a strongly branded company and has world-wide recognition by its customers. The corporation is known for its high standards and so it doesn't need to spend a lot on advertising.
Through to there perfect R&D work they are able to develop new products very fast and therefore keep a step in front of their competitors and to fulfil customers increasing wants.
Conclusion:
In the past Sony had a high competitive advantage because of it's excellent product image. It has used its R&D to keep ahead with innovations. With their variety of products they serve the different needs of their customers. Nowadays more than just R&D and service has to be offered to gain market shares. The electronic market more and more gets connected with the entertainment industry. It also has to be considered that the competitors have cached up concerning quality standards and therefore the new battleground will become the cost and pricing sector. Sony keeps up with the time by environmentally friendly producing, optimising all kinds of processes, using modern designs and reducing its wastage of materials.
3.6. BCG-Matrix
The market share of Sony's digital cameras was at the end of 2001 about 8% in Germany. Sony was the third successful provider after Olympus (14%) and Canon (12%). In 2003 Sony was the market leader in the US with a market share of 22%, followed by Kodak (20%) and Canon (16%). At the beginning of 2004 Sony had a market share about 20% - which is nearly the same as Canon has.
At the moment it's not sure, if MP3-players become a huge success of Sony, because the Japanese company sat back while Apple Computer thrilled the world with the iPod. The iPod quickly became not just the most popular MP3-player ever, but the epitome of portable audio, as Sony's Walkman had been in the '80s. Sony was so worried about piracy, and sapping revenue from its Sony Music division, that it chose to do nothing and let Apple ascend - and it shows. There probably isn't a whole lot the electronics giant can do now to unseat the iPod, but Sony does have a chance to leapfrog competitors in the next wave of entertainment gadgets: personal video players. Personal video players (PVP) are basically hard drives with screens attached for watching videos. While there isn't as much demand for watching video while on the go, plenty of people will want a PVP to watch movies or catch up on TV while travelling or commuting. There's not much indication that Apple has plans to introduce a "video iPod" of its own, so Sony has to catch the chance to lead this market in the near future.
PlayStation 2 is the cash cow for Sony right now. With $7.8 billion in sales (13% of the company's total) and anchored by the market-dominating PlayStation 2 videogame system, the games unit has long been the company's most important profit generator. PlayStation 2 still has a sizeable competitive lead on its rivals: It has sold a colossal 60 million units worldwide versus 9 million to 10 million for Xbox (Microsoft).
With a redesigned Walkman logo, Sony has highlighted many similarities and differences between the MD Walkman and the original. Also the use of the Sony Walkman brand name has been used to suggest that the MD Walkman is an upgrade of the original for the future. But for all that MD-players flopped unfortunately, because there was another innovation too short after the introduction of MD-players on the market: MP3-players.
Conclusion:
The biggest success for Sony was the invention of the PlayStation 2 - the dominating video game system on the market. Also DVD-players and -recorders are important Cash Cows for the company. It's not sure at the moment, if MP3-players become a huge success of Sony, because the Japanese company sat back while Apple Computer thrilled the world with the iPod. The Question mark of Sony are e.g. Personal video players (PVP), which are basically hard drives with screens attached for watching videos. MD-players flopped unfortunately, because there was another innovation too short after the introduction of MD-players on the market: MP3-players.
4. The organisational structure of Sony
The graph below shows quite a nice overview of the operations Sony is fulfilling.
Corporate Governance Structure
Adoption of the Company with Committees system legally obliges Sony Corporation to establish a board of directors, three board committees (nominating, audit and compensation) and corporate executive officers responsible for the execution of business operations.
Board of directors and three committees
These entities are charged with determining fundamental management policies for the Sony Group and ensuring that it is managed legally and properly.
Corporate executive officers
The corporate executive officers are responsible for conducting the business operations of the Sony Group within the scope of the authority delagated to them by the board of directors.
Significant decision-making authority regarding investments, business alliances and other actions related to the execution of business operations are delegated to individual corporate executive officers.
Executive officers
The executive officers are responsible for business operations in specific areas such as business units, research and development and head office functions. The executive officers execute their duties in accordance with the fundamental policies determined by the board of directors and corporate executive officers.
5. Sony and the movie industry
Sony does not only operate in electronical, technical and music markets but also plays a quite important role in the movie business. Not only did Sony buy Columbia pictures, a Hollywood big one, but lately the company also purchased Metro Goldwyn-Mayer pictures for the incredible sum of $ 6 billion.
With this purchase Sony has access to a huge library of movies, now owning the rights to 17% of the all film titles. For Sony especially the enlargement of their DVD segment is an important fact. Now they are able to set the new format for the next generation of digital video discs.
The transition of the new discs can generate billions of dollars in the royalties to the developers of the technology that runs them. An important step for Sony in the battle of standards. Through buying MGM Sony achieves of playing a global role in movie business.
Although the competition is extremely hard (especially on the DVD market through New Line, Touchstone, Disney etc.) Sony tries to fight its way through to the top.
6.
Conclusion
To draw a conclusion to our case study about the Sony corporation we will now once again briefly view the major aspects we consider as the most important ones from our point of view.
* Global player
* Fast change of technology, competition and industry
* Sony as front-runner of new technologies
* Increasing competition > short time till supplements come onto the market
* High entrance barriers (costs, good established brands)
* Huge/increasing investments in R&D
* The profit margin between expenditures on new technologies and the net return on the finished products gets smaller by the day.
* Because of the fact that Sony has established its brand in so many different market segments, the company possesses power all over the planet.
* Although the firm owns a huge market share in all the different segments, it surely will be very tough to be able to keep overview and to pass qualitative decisions.
* Growing importance of stakeholders > corporate governance
* Cultural conflicts (Japanese family culture) - not only in the managerial style of the company but of course also in the consumer behaviour of the customers that purchase Sony products worldwide.
* Customers have a very large influence on sales. They are very likely to switch to substitutes. Growing customer wants also leads to a need of faster product innovation.
To sum up one could say that - speaking globally - it is essential to have such innovative and motivated companies in the economy - although these companies find themselves faced with a lot of enemies. But it is a company such as Sony that keeps processes going and improves living standards, satisfies consumer needs and delivers its part to strengthen and tighten today's economy.
7.
Recommendation
In our opinion Sony will have to find new ways of value creation. In the future it won't be enough to offer just high quality products and good service. The growing importance is concerning the entertainment business. Therefore Sony is on the right track to connect the whole thing with their "movie sector". This will give them a very high competitive advantage.
Furthermore it will be necessary to cut costs in order to make better offers. Otherwise the consumers are likely to switch to no name products which have equal technical standards. With their TR60 Structural Reform Program Sony is on the right track but it will have to make further, faster improvements eg. in the resource sector. We also recommend that they should cooperate more intensive with different service companies, so that they can offer the optimal "product mix" and fulfil customers wants. Also careful cooperation's with competitors like "Philips" will be necessary in a growing extend.
In addition to that we see a little conflict in the managerial ways the company is going. We are of the opinion that the Eastern managerial styles cannot work in the Western world. Although Sony has widely accommodated the leading styles worldwide, there are still quite some points that are "strictly" Japan-related and may not be implemented correctly in the Western world.
One last recommendation we would like to stress is the purchase of MGM. For a sum that's hardly ever been paid before in movie business Sony purchased this studio. And though the market share of Sony now is huge, it could be very hard to handle. From our point of view it may be fairly difficult to gain profit out of this studio within the next few years. And this might influence the company as a whole.
8. References
For analysis structures & general information:
Grant, "Contemporary Strategy Analysis", Blackwell publishing
Sony in general:
http://www.sony.de
http://www.sony.com
http://www.sony.net
http://www.columbiapictures.com
STE(E)P(LE) analysis:
http://sel.newjobs.coml
http://www.macworld.co.uk
http://www.findarticles.com
http://www.infotechtrends.com
Porter Analysis:
http://www.broadcastbuyersguide.com
http://www.ifpi.org
http://www.japan.com
Competition information:
http://www.jvc.com
http://www.samsung.com
http://www.grundig.com
http://www.siemens.com
http://www.philips.com
http://www.panasonic.com
Stakeholder analysis
http://www.icep.pt
Mission statement
http://www.sony.com
http://www.businessplans.org
BCG
http://www.ce.org
http://www.minidisc.org
Movie business
http://www.usatoday.com
http://www.economist.com
2/22
