Sony will have to be more realistic in its short term strategy in the wake of new challenges
These results leave Stringer with a tough job ahead. Stringer, an alumnus of University of Oxford, joined Sony Corp. as its member of the board in 1999 and went on to become the first non-Japanese to lead the company, after heading Sony’s US operations for six years.
It was under his leadership that Sony achieved a record profit of 369.43 billion yen ($3.73 billion) for the year ending March 2008. But could he not foresee what lay ahead of the company?
Rob Enderle of Enderle Group states, “These problems are historic and Stringer, while making some progress, has been too little too late. Sony needs a massive restructuring and, so far, no one appears to have the authority or will to do that.” Is it the same Stringer, who made rival divisions of Sony work together?
Furthermore, stock price of Sony has fallen by 56.9% since January 1, 2008 to $23.29 on November 10. Low consumer spending & the economic crisis further complicate the challenge. Sony would now have to focus more on its non-premium offerings and lower prices on its premium products. Lay offs are also not ruled out. Desperate times call for desperate measures, ''like.no.other''!
These results leave Stringer with a tough job ahead. Stringer, an alumnus of University of Oxford, joined Sony Corp. as its member of the board in 1999 and went on to become the first non-Japanese to lead the company, after heading Sony’s US operations for six years.
It was under his leadership that Sony achieved a record profit of 369.43 billion yen ($3.73 billion) for the year ending March 2008. But could he not foresee what lay ahead of the company?
Rob Enderle of Enderle Group states, “These problems are historic and Stringer, while making some progress, has been too little too late. Sony needs a massive restructuring and, so far, no one appears to have the authority or will to do that.” Is it the same Stringer, who made rival divisions of Sony work together?
Furthermore, stock price of Sony has fallen by 56.9% since January 1, 2008 to $23.29 on November 10. Low consumer spending & the economic crisis further complicate the challenge. Sony would now have to focus more on its non-premium offerings and lower prices on its premium products. Lay offs are also not ruled out. Desperate times call for desperate measures, ''like.no.other''!
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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