Sonly is a leading global manufacturer of audio, video, communications and information technology products. Mission of Sony is bring new technologies, content and services together in unprecedented ways that enable people to re-shape their perception of the world and enhance their lives. Sony believes the power of technology can realize a new idea and stimulate the senses. The introduction of "Make.Believe" refers Sony's spirit of creativity and innovation.
Concept promoted by Sony is open innovation. Sony is looking for not only internal of company but also external of company for technologies strengths with external expertise. Besides that, Sony also aims to accelerate R&D efficiency and enable the company to effectively respond to changing of customer need and preferences in the network era. Sony achieve sales volume and profitable growth through create new user experiences, strengthening core business, driving innovation and minimizing environment impact due its operations.
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To perform well, Sony understands competition and strategy. Sony used this as guidance on how to consider the position of the company. Sony knows well it face threats by competitors. The world business environment has become super competitive. That is why Sony clearly knows that Sony must deliver product or services that much better than its competitors such as Panasonic and LG. Besides produce unique offer, Sony also need be integration between different parts of the business.
Sony has some different areas of operation and wide range of products and services such as video game, smart phones, camera, music, and electronics. The name of Sony is well know around the world and has a very superior reputation with consumer and high quality of image. This is the biggest strength of Sony.
Sony refocused their quality management by focusing and reviewing all mechanisms that ensure quality. The processes started from development, planning, design, manufacturing until sell and service, all employees must redefining their own roles and responsibilities for product and services quality. To guarantee an appropriate level of quality, Sony establishes guidelines to avoid any mistakes. While the framework and focus of the quality management is to concentrate on the customers, monitor the quality products in the market, increase its product safety and long term reliability and eliminating software vulnerability.
Sony tries logistics system to reduce time it takes ship products to customers because Sony want to reduces cross border transport and ensure that there will be zero additional cost and zero risk at all. Sony always tries to maintain s smooth flow of digital information and exchange contracts and that is why Sony will be increase in revenue or capital from the logistics department.
Article Review 2: General Electric
General Electric (GE) is a company major in technology conglomerate and it is one of the world's largest organizations. Initial, General Electric is lie with Thomas Edision. The General Electric become one of the most powerful and dynamic organization in the world.
Jack Welch, Chief Executive Officer (CEO) of General Electric since 1981 to 2001, transformation strategy of General Electric and replaced with new era performance management and internal efficiency. With his guidance, General Electric increase 1.5 times of profit and gross domestic product (GDP) growth rate. He unsympathetic drove his employees to limit their abilities, encouraging employees at all level and accept their aspiring targets. Jack Welch led a sustained attack on bureaucratic process and his openness, confidence, leadership and creative thinking culture at every level of General Electric.
Another strategy by Jack Welch is nurturing talent and leadership through the delegation of responsibility and deployment of powerful incentives. He makes a motivation scheme which permeated deep into ranks of middle management based on performance with bonus and recognition of talent. He won a nickname as "Neutron Jack" as he restructures General Electric and ruthlessly eliminated some layers of management and shed a huge number of jobs. The nickname of "Neutron Jack" refers to the deadly neutron bomb which kills people but leaves building standing. The large amount of staff buts were made in administrative function and business decision was assign to line operation managers.
As Jack Welch implemented restructure the General Electric business strategy, he focused on a limited numbers of sectors with promising growth potential and performance. He was achieved through sale of General Electric is less profitable and retention of business indentified some large divestment and shifting of emphasis towards General Electric technology based business and services business. The growth of General Electric capital which lead General Electric become world's leading diversified financial services company.
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Jack Welch keeps annual cycle of General Electric but he introduced two changes to the system. First of the changes is initial financial target was prepared by controller officer rather than individual line managers while second of changes is the budgets was allowed be changed as the competitive situation changed. This replaced more much faster and less formal personal process.
Article Review 3: Barclays Bank
Barclays Bank is a global bank which provides financial services whether individuals or business. Barclays Bank provides wide range of financial products and services such as accounts, savings account and general insurance.
Barclays Bank is setting a vision to "Earn, Invest and Grow". Barclays Bank has been a difficult force in international banking and Barclay Bank is an iconic brand. This new vision has been easier to clearly definite but harder to achieve. Barclays Bank knows that its shareholder will not accept a profit growth holiday while Barclays Bank invests for future. To maintain growing of profitability, Barclays Bank need to standing in minded of employees, in the communities where it operates and customers as well. Besides that, all employees should understand that Barclays Bank expected them to focus their efforts on their own main task which is serving customers brilliantly and complying with legal and regulatory requirement and maintain the financial controls that preserve Barclays Bank's license to do business and justify trust on customers to avoid selection adverse and moral hazard problem occur.
Barclays Bank serves their customers from range individual mortgage to corporation managing their risk by means of complex derivatives in dissimilar tax rate around the world. However, customers cannot serve in silos. For an example, Barclays Bank investment in a single online interface to enable customers to oversea their credit card accounts, mortgages, investment, and bank account together. This requires superior management skill and streamlined organization. Barclays Bank decreases their executive committee to half which is five members and decentralized operations so that Barclays Bank can makes decisions with more locally.
Barclays Banks need to put relationship with customers at first as customers make their decision based on particular financial services provider on the relationship they have with provider. Barclays Bank needs to make sure customers find them due to their valuable, harmonious, and dependable; Barclays Bank makes them easier to maintain many lines of business. Barclays Bank gauge customers in few ways, first, survey of customers, employees and consumers, act as mystery customers and visits retail banks, complaint volume and market share metric system, association table standing, and tracking of community engagement programs. This is because Barclays Bank makes decision based on these few measurement and affects the behavior of all of employees.
Article Review 4: Air Asia
Air Asia is a company which has good strategic management and successful story in the airplane industry in the world. Vision of Air Asia is "Now Everyone Can Fly" which mean to be largest low cost airline in Asia and serve the three billion people who are currently understand with poor connectivity and high fares. Today, Air Asia becoming the leader low cost carrier airline in the world. Moreover, Air Asia received achievement such as awards and recognition in 2009 to ascertain Air Asia is one of the best airplane companies.
To be a successful company, Air Asia must be success in their business, Air Asia need to identify their strategic management. A company good strategy management able to lead the company achieves their vision and mission thus success in their business.
Air Asia is using low cost carrier (LCC) strategic. Air Asia tries to keep their operation costs as low as possible. Datuk Tony Fernandez, Chief Executive Officer (CEO) claim that before a business can grow, the company need to under control its costs. Air Asia must be cost efficient and profitable and create its value to public. The cost must be contained, reduced and eliminated. The costs that have to running business must be efficient and reliable. The reason Air Asia become one of the leader in airplane industry is Air Asia make efficient in reducing cost make them able competing with others. For an example, cost of selling are minimized because of Air Asia providing ticket sales generated by online. This can reduce cost of commissions to travel agents. Besides that, Air Asia also saves up cost of ticket material as the flight tickets which customers booked online print by them or customers only noted down the booking code and show to it when check in. This lead Air Asia saves up a huge amount of costs which Air Asia should spend to on ticket materials like others airlines doing.
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Air Asia also tries to keep their cost in recruiting employees. Air Asia only recruits numbers of employees they needed and select wisely. Air Asia pay to workers who are capable, hardworking and work efficiency. Air Asia gives its employees multiple tasks to reduce high employment cost. For example, the used plane has to clean by stewardess or stewards but not hire few more cleaner to clean used plane. All employees of Air Asia are contribution. There are no ranks or hierarchy in Air Asia. Remuneration and incentives based on performance. So, if employees want to get any extra wages, they need to work hard and perform well. This is the way Air Asia motivated its employees.
Furthermore, Air Asia has not provides food and drinks on the plan, that's why Air Asia can save costs. The purpose of Air Asia is just move people from one place to another place cheaply. But Air Asia still sells snacks, drinks, food, and beverage on the plane. Guests just buy what they want. Air Asia sells the food and beverages with higher prices so that Air Asia can earn profit from selling products.
Air Asia does advertisement by newspaper, television, radio, and media. Air Asia promotes its brand and increases its image with cheap ticket, free seat, and safe traveling. Although advertisement through television is more expensive but it is a good way to increase sales and image. Moreover, Air Asia is sponsor of The Amazing Race and Manchester United (MU). Air Asia tries to attract loyal fans of Manchester United and hope them travel by Air Asia.
In conclusion, Air Asia becomes an airline with most chosen by customers. The vision of "Now Everyone Can Fly" giving a chance to people to flight with the price as low as possible while people can flight even they have less money.
Article Review 5: Wal Mart
Wal Mart is an American discount store. Wal Mart serves customers more than 200 million times per week and serves them in ways such as outlets, online or mobile device. Wal Mart is operating under 60 different banners in 27 countries. Mission of the Wal Mart is "Saving people money so they can live better". The management strategies of Wal Mart become one of the most well know strategies in the retail industry today. The purpose of the Wal Mart is sell products at lower price than its competitors such.
Employees of Wal Mart from executive down to clerks are call "Associates". It is because the relationship between Wal Mart and its employees based on respect, high expectations, close communication and incentives. The compensation of the manager is depending profit of store that operating by him while compensation of the associates depending on profit earning by company and offered incentives based on their performance. Wal Mart is willing to share profit with all employees. Besides that, Wal Mart allows their employees to buy Wal Mart's stock at discount to its original market price in financial market. Wal Mart accepts autonomy and received communication based on their performance within operation. Wal Mart believes that employees need to be respect and reward to help improve profitability of company. They management style of Wal Mart is based on values and principle of Chief Executive Officer (CEO). The CEO or store manager must always keep in touch with their customers and management and operation of the store. This lead they have well communicated between one another.
Wal Mart is first organization which utilized technology and communication technology. This helps them to aid the decision making and advanced effectiveness the response of the customers. Wal Mart used computerized system which able to identify each item sold, finds products' price in database, makes an accurate sales receipt to customers and recording inventory. This can avoid overstocking in Wal Mart. Furthermore, telecommunication also use by Wal Mart. Telecommunication can link directly from its stores to its central computer system and then to suppliers' computer as well. Technologies help Wal Mart save operation cost and time such as hire employees to check store and use few days only can finish.
Wal Mart tries to minimizing costs as low as possible whenever it is possible. The growing of Wal Mart allowed it benefit from economic of scale and thus reducing its cost. In addition, Wal Mart is famous in financial discipline as well as their tendency to pass operating costs to suppliers.
Wal Mart focused on satisfying customers' need. Wal Mart undercutting of prices is the basic of its principles which mean selling low price products to customers.