SONY is famous worldwide as a leading manufacturer of consumer electronics, smartphones and a leading player in the music and cinema industry. The company makes, markets, and sells a diverse portfolio of products and services, including gaming products like the Play Station and related software. Founded in 1946, SONY is a global brand with its headquarters in Tokyo, Japan.
The company is focusing on innovation to grow its profitability and expand into new areas of business. However, industry dynamics and consumer preferences are changing fast. SONY’s net sales in fiscal 2019 declined due to reduced demand for Play Station hardware. To retain its profitability and growth momentum, the company might need to invest more in research and development.
SONY’s global fame and success are based on its intense focus on customer experience and product quality. Worldwide, millions of customers trust SONY. The company’s purpose and values continue to guide business planning and strategy throughout the organization.
SONY Corporation Purpose and Values:
SONY Purpose Statement:
Fill the world with emotion, through the power of creativity and technology.
SONY is basically a technology brand that has brought several groundbreaking products and technologies to the market in its history. Its several products were the world’s first. The company’s purpose is to fill people’s worlds with emotion, utilizing the power of technology and its creativity. Technology is the main factor driving the popularity and growth of SONY worldwide. It is changing millions of lives daily across the globe.
SONY aspires to bring higher convenience and comfort to people’s lives through technological innovation. However, SONY’s focus is always on quality so its customers can have a quality experience and live better lives. Its high-quality products, loaded with best in class technology, are loved worldwide for the outstanding quality and value. The company remains just as dedicated to customer satisfaction as ever.
Dreams and Curiosity: Pioneer the future with dreams and curiosity.
SONY’s focus is on the future. It always tries to bring futuristic technology that is way ahead of what its rivals offer. The company has remained a pioneer in various areas, including gaming technology and music. However, the power of dreams is what fundamentally drives its focus and dedication.
Diversity: Pursue the creation of the very best by harnessing diversity and varying viewpoints.
Diversity is also one of the fundamental values that drive SONY’s business performance. In today’s world, when operating globally and chasing success is impossible without having a diverse talent pool onboard, global businesses must focus on diversity and inclusion. SONY’s diverse talent pool is a source of competitive advantage for the brand that drives its global popularity and success. Employees from diverse backgrounds bring creative ideas to the table that find form at SONY’s and help the company achieve higher trust among its loyal customers. Having a more diverse employee base helps achieve superior performance and results.
Integrity & Sincerity: Earn the trust for the Sony brand through ethical and responsible conduct.
Business ethics and integrity are integral to creating a responsible image among your customers. SONY has achieved the image of a responsible brand through its focus on responsible and ethical business practices. The company has established a code of conduct to ensure that its employees follow ethical business practices organization-wide. The code of conduct is built around fairness, integrity, honesty, respect, and responsibility. SONY has established an organizational culture of ethics and integrity. In 2019, SONY was recognized as one of the most ethical companies globally by the Ethisphere Institute.
In terms of day to day business operations and marketing, adopting ethical business practices is important to retaining your customers and maintaining your market leadership. The focus on ethics has grown a lot in the 21st century. The level of competition in the market has also intensified in the industry. However, maintaining a focus on ethics is important for businesses to maintain a respectable image among customers and communities. SONY has been making sincere efforts in this area for the past several years. The company also strives to maintain strong relationships with the internal and external stakeholders of the company. A focus on fairness and ethics has also helped the company achieve a superior brand image and win its trust.
Sustainability: Fulfill our stakeholder responsibilities through disciplined business practices.
Sustainability has also become a key focus area for companies that want to win in a hypercompetitive global business environment. Being a sustainable brand while helps you maintain a superior image among your customers and society, it also helps at achieving operational agility and superior operational performance. Environment and community are also important stakeholders for large and global businesses. Large businesses, including technology and consumer electronics businesses, are investing in minimizing their environmental footprint and contributing to social welfare. SONY’s focus, apart from the environment, is also on the welfare of marginalized communities.
The company strives to achieve a zero environmental footprint throughout the lifecycle of its products and business activities. It has taken some key steps in this area to minimize wastage, reduce its dependence on nonrenewable energy, and minimize its annual energy consumption. It is also investing in environmental conservation. The company has set environmental targets and is continuously making efforts to achieve these targets in the coming years.
A few last words:
SONY is a globally trusted brand with a strong social image. It is famous worldwide for its superior quality products, technological innovation, and business ethics. However, the company is facing strong competition worldwide where many rivals have introduced competing products at lower prices, making it difficult for SONY to retain its profit margins. If SONY has still managed to retain its edge, the reason is the company’s focus on quality, innovation, and accountability.
In the coming years, the competition is going to be even fierce. The company will need to grow its focus on innovation in such a scenario to win against mighty opponents like LG, Samsung, Microsoft, and others. However, despite the competition and the changing market dynamics, its values have remained central to its business management strategy. The company remains committed to quality, integrity, ethics, and sustainability apart from customer satisfaction.