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Corporate strategy - Essay Example

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Industry background The music label industry is a dynamic and ever changing experience. Owing to the years of decline in revenues in the main labels and the buzz in the press concerning the state of the music industry, one would be forgiven to think that music is on its deathbed…
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Corporate strategy
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Download file to see previous pages The labels are demanding a revolution from their trade unions and they have dropped DRM to keep up with the changes in the contemporary world by engaging in innovative operations. The competition among the key players in this industry is not as aggressive as in other industries. Analysis of internal resources and culture Sony record label is a renowned company in the entertainment industry offering diverse products and services to its wide market as explained by Hanson et al. (2001). Their productions are highly refreshing and entertaining (Sony United 2007). This is achieved by efficiently combining and managing its resources, competencies and abilities. This results in a strong competitive advantage. Resources are the features owned and managed by a company to create value for customers as stipulated by Hill et al. (2007). The discussion below analyses the different resources owned and managed by the company. Financial resources These are described as the tangible resources that have physical properties and are financial in nature (Hill et al. 2007). The company recorded an increase in sales of 10% in the year 2007 (Sony United 2007). The company owns other forms of tangible resources in form of land, buildings, machinery and equipment valued at nearly 14 million dollars (Sony United 2007). ...
(2007). The company is linked to quality and is among the top enterprises globally. This reputation has led to increased sales over the years (Singh et. al. 2005). The company’s brand is recognized worldwide and it is among the most trusted music labels. Once an artiste has been signed to the record label, they are guaranteed of superstardom and this has led to increased revenues. The company employs high technology in its production processes and this offers high quality music. The record label has big stars signed to it including Pink, Shakira, Avril Lavigne, and Celine Deon among other international stars. With such talent and stardom the company has been recording high sales for many years. The company produces different genres of music through the labels that are under the main organization. These include the Columbia/Epic label group, Provident label group, RCA/Jive label group, Sony Music Latin, Sony Music Commercial Music group and Provident label (Sony Corporation of America 2011). The company activities are spread across 44 nations and this describes its vast market base. Customer loyalty has remained the main contributing factor to its success. Despite the decline in sales of CDs, a specific segment has remained loyal to buying their music. The company’s experience in the music production business has been a valuable asset since the company understands the market, the artists and the music industry. This helps the company to produce quality products and to adapt to any changes in future. Physical resources This refers to the structures, property and machinery owned by the company. The company has modern music equipment for production purposes. The company has ...Download file to see next pagesRead More
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