Smartphones are designed to give consumers access to an adaptable digital platform that packs various features into a single portable device. Smartphones function as personal organizers, multimedia players, communication tools, and internet access points. They have altered how people use technology and have become an essential aspect of contemporary life.
One of the primary purposes of smartphones is to facilitate communication. They enable voice calls, text messaging, and video calls, allowing users to connect with friends, family, colleagues, and business partners (Sheer & Rice, 2017). Smartphones are also powerful multimedia devices. They include sharp screens, powerful cameras, and cutting-edge audio systems. Users may take pictures and movies, edit them on the gadget, and send them to others immediately. Smartphones may also be portable audio players, enabling users to access their favourite podcasts and songs whenever and wherever they choose.
Additionally, they provide access to streaming services for watching movies, TV series, and internet videos and allow video playback (Himmelreich et al., 2019). With several tools and applications to increase productivity, smartphones serve as personal organizers. They provide users with calendars, reminders, task organizers, and note-taking tools to help them stay organized and effectively manage their daily tasks. Users may manage work-related duties while on the road thanks to integrating smartphones with email and office productivity suites.
The accessibility of a broad ecosystem of mobile applications is a significant characteristic of smartphones. Software for gaming, productivity, education, health, finances, and various other uses is available in app stores. Users may personalize their smartphone experiences by downloading and installing applications that best meet their needs, boosting their performance.
According to Milenkova & Lendzhova (2021), Today’s culture is dominated by smartphones, which have had a significant influence on several societal issues. They have transformed social interaction, information access, and communication. Their impact on social situations is intricate and multidimensional, nevertheless. First of all, cell phones may make economic disparity worse. Although they give people access to opportunities and information, only some have the same access level. The digital gap can be widened by limiting smartphone availability for underserved populations due to affordability and infrastructural differences. Economically disadvantaged people may become even more marginalized due to this access barrier, making accessing possibilities for employment, educational prospects, and essential services challenging.
Additionally, using a smartphone might keep prejudice alive. Social media and online platforms, predominantly accessed through cell phones, can develop into venues for cyberbullying, harassment, and hate speech (Abbas et al., 2021). Social media platforms can amplify discrimination based on race, gender, and other variables, adding to societal divides and reaffirming prejudicial attitudes already in place.
Smartphones affect electricity distribution in both positive and destructive ways. On the one hand, they provide people with a stage to voice their thoughts, inspire social movements, and question established power structures. Promoting activism and social justice issues has significantly benefited from the usage of social media (Zavattaro, 2021). However, power disparities also exist in the digital world. The smartphone market is heavily influenced by businesses and IT behemoths, who manage data collecting and shape the user experience. This concentration of power can potentially erode democratic values and restrict user autonomy.
Moreover, the dynamics of democracy have been impacted by cell phones. They have given people the power to organize protests, access information, and engage in political dialogue. Social media platforms have aided in political mobilization by building relationships between people with similar views and facilitating group action. However, the propagation of false information and echo chambers on these platforms may stifle democracy, polarize communities, and skew public discourse. Additionally, algorithmic bias and targeted advertising may sway public opinion, endangering the fairness of elections and democratic decision-making.
Smartphones also impact social conditions relating to gender equality. They may support gender stereotypes and inequities while allowing people to become more empowered via access to educational resources and job opportunities. Women are more frequently affected by cyberbullying, internet harassment, and revenge porn, and these issues can have severe psychological and societal repercussions. Women’s engagement in the tech sector and the design of inclusive smartphone technologies may also be constrained by gender biases in technology development and representation.
Smartphones may both empower and degrade people with impairments in terms of capacity. Smartphone accessibility features have increased the freedom and involvement of persons with impairments and made them more inclusive (Cai et al., 2020). Examples include text-to-speech and assistive technology. However, not all smartphone programs and operating systems are created with accessibility in mind, posing difficulties for those with visual, auditory, or movement disabilities.
Profitability and market supremacy are the two economic factors that firms in the smartphone sector prioritize. These businesses, like Apple, Samsung, and Huawei, work hard to optimize sales, expand market share, and make substantial profits (Rahman, 2022). They invest significantly in research and development to innovate and create cutting-edge products that draw customers. These businesses furthermore seek to foster brand loyalty and build ecosystems that bind customers to their goods and services and provide recurring income streams.
Thanks to the widespread use of smartphones, an active ecosystem of digital service providers and app developers has been established (Mordecai et al., 2021). These organizations, including small and significant tech firms, have financial links to the smartphone market. Their goals include creating well-liked applications and services, luring customers, making money from subscriptions or advertising, and using customer information for personalized marketing.
The proliferation of smartphones has changed how marketing and advertising is done. Smartphones are essential to advertisers because they offer a direct and individualized route to reach customers (Giao & Vuong, 2020). With the help of user data gathered by smartphones, targeted advertising enables marketers to customize messages and improve their campaigns’ efficiency. Through careful audience targeting, they have economic interests in marketing goods and services, increasing sales, and optimizing return on investment.
Governments have a variety of economic and political interests related to cell phones. By encouraging innovation and competition in the smartphone market, they want to advance economic growth. Governments may also be interested in protecting national security by controlling the development, usage, and distribution of cell phones, as well as by assuring data security and reducing cybersecurity threats. Additionally, governments receive cash and taxes from selling smartphones, furthering their economic interests.
As customers, people are a vital part of the smartphone ecosystem. Their main concerns are acquiring dependable, feature-rich, reasonably priced gadgets that suit their requirements. When buying cell phones, consumers frequently consider elements like brand reputation, cost, user experience, and availability of applications and services. They could also place high importance on data security and privacy, affecting their shopping choices.
Advocacy organizations have developed in response to the increased attention paid to ethical issues and environmental sustainability in the smartphone sector. Their goals include influencing manufacturers to use environmentally friendly production methods, ensuring ethical supply chain practices, and extending product lifecycles through repairability and recycling (Gazzola et al., 2020). Additionally, these organizations promote transparency, human rights, and decent working conditions in the smartphone sector.
The factors related to cell phones have diverse effects on people personally. First, cell phones give users immediate access to many options and information (Correa et al., 2020). This positively affects people’s personal and professional lives since they can easily access educational materials, get solutions to issues, and keep up with current events. People may explore new employment prospects, take online courses, and broaden their knowledge bases, giving them the tools to seek personal development and make educated decisions.
The way individuals connect and communicate with one another has changed as a result of smartphones. Regardless of distance, people may maintain and grow ties with friends, family, and coworkers using social media platforms, messaging applications, and video conversations. This connectedness improves interpersonal relationships, fortifies social networks, and promotes a feeling of community. However, relying too much on cell phones for communication might diminish in-person connections and increase the risk of social isolation.
Smartphones are essential for empowering people to participate in the economy. They allow people to browse job postings, submit applications, and take advantage of remote employment or freelancing possibilities (Dhiman, 2023). People may launch enterprises, offer goods or services, and connect with clients worldwide thanks to mobile e-commerce platforms. Creating opportunities for entrepreneurship, financial independence, and income production might improve people’s economic circumstances.
There are worries regarding data security and privacy due to our growing reliance on cell phones. People give their cell phones access to their contacts, messages, browsing histories, and location information. Privacy issues may arise from the gathering and utilization of this data by businesses for data profiling or targeted advertising (Dhiman, 2023). Sensitive information about persons is also in danger from data breaches and hacking attacks, emphasizing the importance of strong security measures and user attentiveness.
People’s psychological and social well-being may be impacted by their frequent connectedness and involvement with cell phones. Increased stress levels, a shorter attention span, and lower productivity can all be the effects of excessive smartphone usage, often known as smartphone addiction or problematic smartphone use. It can also interfere with sleep cycles and poorly impact mental health, causing feelings of social isolation, melancholy, and worry. The comparison- and validation-seeking activities that social media platforms also can affect self-esteem and mental health.
Many smartphone alternatives are available to consumers, ranging from low-cost to high-end models. Individuals’ decisions are influenced by their financial circumstances based on price, features, brand reputation, and perceived worth. For many, affordability is a crucial consideration because cell phones are necessary for communication, information access, and involvement in many facets of modern life.
According to Shaikh et al. (2020), cell phone creation, usage, and disposal have an impact on the environment. People are becoming more conscious of the environmental impact related to the extraction of raw materials, manufacturing techniques, and electrical trash produced by cell phones. As a result, people may look for ecologically friendly options, such as equipment with extended lifecycles, recyclable materials, or support for programs for recycling and repairability.
Smartphone use has a broad spectrum of positive and negative effects on society. It is crucial to consider both factors for a fair assessment of their effects (Floridi et al., 2020). The benefits of cell phones in society include the revolutionized communication they have sparked, which has made it possible for individuals to keep in touch with friends, family, and coworkers even when separated by miles. They make it easier to communicate via phone and video conversations, social networking, and instant messaging, which helps to forge stronger bonds between people.
Large amounts of information and expertise are readily available thanks to smartphones. People may easily do information searches, have access to learning materials, and keep up with current events. This encourages intellectual development, allows lifelong learning, and gives people knowledge-based power.
Additionally, the proliferation of cell phones has promoted e-commerce by giving people easy access to online buying venues. This increases customer choice, provides competitive pricing, and creates a new company and entrepreneur chances. In addition to helping to advance financial inclusion, smartphones have made it possible for people in underserved areas to use banking services and conduct online transactions.
Overusing smartphones may result in addiction and reliance, severely influencing mental health and general well-being. People could have a shorter attention span, be less productive, and have irregular sleep cycles (Volungis et al., 2020). Relationships may suffer from smartphone addiction due to excessive technology that neglects interpersonal communication. In addition, smartphones gather enormous amounts of personal information, raising questions about security and privacy. The possibility of data breaches and hacking attacks, as well as the abuse or improper treatment of user data by organizations, can jeopardize people’s privacy and result in identity theft or other criminal activity.
In conclusion, addressing the harms caused by smartphones requires a multi-faceted approach that encompasses education, technology, and ethical considerations. We can cultivate a healthier relationship with smartphones by promoting digital literacy, implementing robust digital well-being features, supporting parental control applications, providing mental health support, and encouraging ethical app development. Through collective efforts from individuals, educators, policymakers, and technology companies, we can navigate the challenges posed by smartphones and foster a balanced and responsible digital culture.
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Sony’s International Expansion: Strategies, Challenges, And SME Insights Sample Essay
Sony Corporation is a diversified global enterprise established in 1946 in Tokyo, Japan. The corporation originated as a diminutive establishment specializing in electronics merchandise and has since evolved into one of the most expansive global entities in the electronics and entertainment industry. Sony has experienced international expansion and proficiently penetrated numerous foreign markets. The present study endeavors to critically assess Sony’s entrepreneurial and internationalization approach, particularly regarding its successful navigation of the challenges encountered while penetrating a new overseas market. The examination of the internationalization pathway of Small and Medium-sized Enterprises (SMEs) bears significant relevance as it markedly contributes to the expansion and advancement of the worldwide economy. Small and Medium Enterprises (SMEs) are crucial drivers of economic expansion and employment generation in numerous nations. Comprehending how small and medium-sized enterprises (SMEs) can efficaciously penetrate and thrive in international markets can furnish significant discernments for comparable SMEs that aspire to extend their business operations worldwide. This research aims to examine the internationalization strategy pursued by Sony, with particular emphasis on its penetration into a distinct foreign market. This paper intends to explore significant inquiries about Sony’s selection of the new foreign market, its preferred modes of expansion, adopted internationalization strategies, encountered problems, challenges, and the resolutions implemented to overcome them. The present study will additionally derive ramifications for small and medium-sized enterprises (SMEs) seeking to extend their business ventures at an international level.
Selection of Geographical Markets for Expansion
Factors Considered by Sony When Selecting New Foreign Markets
Sony is a multinational corporation with a diversified portfolio across various sectors, encompassing electronics, gaming, and entertainment (Mourdoukoutas & Stefanidis, 2023). When pursuing expansion into new international markets, Sony meticulously evaluates a multitude of factors, such as the dimensions of the market, its potential for economic growth, the levels of political stability, the degree of cultural similarity, and the various laws and regulations governing the industry. The market size is a crucial element Sony considers while identifying prospective foreign markets. Sony strategically selects nations with expansive and burgeoning consumer markets as their target demographic. For instance, in the 1980s, when Sony undertook expansion into China, it was largely motivated by the vast market potential of the country (Tang, 2023). In response to India’s burgeoning and rapidly expanding middle class, Sony made a foray into the Indian market in the early 1990s.
Sony seeks out markets with considerable prospects for economic growth. Tang (2023) shares that the organization directs its focus toward nations that exhibit a robust economic growth trajectory, as this denotes an expanding populace of consumers with enhanced affluence for purchasing. An instance of a corporation driven by a country’s economic growth potential in their expansion efforts can be observed in Sony’s entrance into Brazil during the early 2000s, as illustrated by Dau et al. (2021). Sony’s selection of new foreign markets considers the crucial aspect of political stability within a country. Political instability can give rise to various risks for companies’ operations, such as the possibility of asset expropriation, regulatory framework alterations, and social unrest. Wan (2022) shares that the decision made by Sony to penetrate the Chinese market was received with a degree of skepticism, primarily due to the prevailing political instability within the country. Nonetheless, the company opted to proceed with its foray into the market, driven by its recognition of its massive potential.
Sony Corporation endeavors to identify markets that hold cultural affinities with its domestic market in Japan. Identifying shared cultural attributes can facilitate comprehension regarding consumer inclinations, thereby facilitating crafting of bespoke products and services that cater to indigenous markets (Hu, 2021). An illustration of successful market expansion can be observed in Sony’s entry into the United States during the 1960s. By capitalizing on their proficiency in developing electronics and audio equipment, the company could craft merchandise that resonated with the needs and preferences of American consumers.
Sony’s legal and regulatory environment is a significant consideration in selecting potential foreign markets. The enterprise endeavors to identify markets that exhibit unwavering adherence and adherence to legal and regulatory frameworks, which aid in bolstering business activities. For instance, Cox (2019) offers that Sony proliferated its European operations in the 1970s as a reaction to the region’s reliable legal and regulatory milieu. In selecting new foreign markets for expansion, Cox (2019) establishes that Sony considers a multitude of factors, such as market size, economic growth potential, political stability, cultural affinities, and the legal and regulatory landscape. Through meticulously evaluating these determining elements, Sony can boldly venture into unexplored territories and establish thriving commercial activities.
Theoretical Frameworks for market selection
Sony incorporates theoretical frameworks into its market expansion strategy while considering various influential factors. According to Foscht and Maloles (2022), the organization utilizes two fundamental frameworks: market attractiveness and market potential. The utilization of the market attractiveness framework serves as a means to assess the comprehensive desirability of a prospective market (Foscht and Maloles, 2022). The framework in question considers variables including but not limited to the dimensions of market size, market growth rate, market profitability, and competitive intensity. Through rigorous analysis of various pertinent factors, Zhang and Chiu (2020) offer that Sony can effectively be discerning markets with high potential for offering a considerable return on investment. In assessing the Chinese market, Sony considered the sizeable and burgeoning middle class of the country as an indication of the significant potential for market expansion (Zhang and Chiu, 2020). An analysis of the competitive intensity of the market was performed by Sony, revealing that the company would be confronted with formidable rivalry from domestic actors.
The utilization of the market potential framework entails an assessment of the prospective magnitude of a particular market. Laillou et al. (2021) offer that this framework considers various factors, including demographic trends, economic advancement, and technological progress. Through a comprehensive examination of various determinants, Sony can discern those markets with the highest likelihood of exhibiting growth opportunities (Laillou et al., 2021). For instance, upon scrutinizing the Indian market, Sony factored in the briskly expanding middle class of the country, which inferred significant potential for market growth. Sony analyzed demographic patterns in the country, revealing a youthful population proficient in technology, thereby rendering it an appealing consumer market for the corporation’s electronic and entertainment commodities.
Analysis of Sony’s Chosen Foreign Market
Throughout its history, Sony has ventured into numerous foreign markets, but China is one particular market that holds significant significance. China, the most populous country with the second-largest economy, has become a highly coveted market for various global corporations, including Sony. During the 1980s, Zhang and Negus (2020) offered that Sony commenced operations in the Chinese market by establishing a joint venture agreement primarily to manufacture and distribute consumer electronics merchandise. During the initial stages of its operations in China, Zhang and Negus (2020) state that the company encountered numerous obstacles, such as inadequate legal and regulatory structures, linguistic obstacles, and cultural disparities. Nevertheless, Sony tenaciously persisted and ultimately forged a robust foothold within the industry.
The burgeoning middle class of China presented a compelling market opportunity for Sony, rendering it an attractive locale for investment. During the economic reforms of the 1980s and 1990s in China, there was a significant augmentation in the per capita income, which led to a considerable and expanding consumer base with an amplified purchasing capacity. The incident provided Sony with a propitious occasion to market its premium electronics and entertainment merchandise to the populace of China. According to Zhang and Chiu (2020), China’s potential for growth was a contributing factor that rendered its market alluring for Sony. Sony acknowledged the future growth of China’s economy and the further expansion of the nation’s middle class (Tang, 2023). Consequently, the corporation made substantial investments in its operations within the Chinese market, involving the construction of state-of-the-art manufacturing facilities, diversifying its product portfolios, and allocating substantial resources for marketing strategies and distribution networks.
Even with the potential advantages that could accrue to Sony upon entering the Chinese market, the company encountered several obstacles to its market entry efforts. Zhang and Chiu (2020) share that one obstacle was the need for a robust legal and regulatory structure. During that particular period, the legal system in China was considerably underdeveloped, thereby exposing Sony to potential risks in its operations. The prompt outlined a significant hurdle encountered by Sony, namely, the cultural variances between China and Japan, which is Sony’s base market (Zhang and Chiu, 2020). Sony was obligated to modify its products and marketing tactics to entice Chinese customers, necessitating an extensive outlay in research and development.
Notwithstanding the obstacles, Sony effectively established a thriving business enterprise in the Chinese market. Zhang and Chiu (2020) add that the corporation capitalized on its areas of expertise in electronics and entertainment to design merchandise that resonated with the preferences of the Chinese populace. Additionally, it committed resources to advertise and circulation endeavors in order to extend its reach to a broad spectrum of potential consumers (Zhang and Chiu, 2020). By thoroughly assessing the potentialities and obstacles of the Chinese market and devising a focused approach to market entry, Sony could surmount the difficulties it encountered and establish a prosperous business enterprise in China.
Modes of Expansion and International Strategies
Modes of expansion chosen by Sony
Sony has employed various modes of expansion to venture into foreign markets. The determination of the most appropriate mode of entry is heavily influenced by a variety of factors, including the degree of risk involved, the level of control deemed necessary, the perceived level of investment required, and the extent of knowledge and experience that the affiliated organization possesses concerning the target market (Stallkamp and Schotter, 2021). One viable approach that Sony has employed for growth is the establishment of joint ventures. Establishing a joint venture entails the creation of a collaborative partnership with a domestic enterprise operating within the intended market. The approach enables Sony to take advantage of the expertise and practical insights a domestic collaborator offers to effectively address the different cultural, legal, and regulatory hurdles inherent to the target market (Stallkamp and Schotter, 2021). In the instance that Sony initiated its foray into the Chinese market, it established a collaborative enterprise with an indigenous organization for manufacturing and retailing its electronic merchandise.
Another mode of expansion that Sony has pursued is the implementation of licensing agreements. The licensing process entails the authorization of one establishment to another to utilize Sony’s intellectual property, including patents and trademarks, in exchange for the remittance of royalty payments (Ooi, 2021). The granting of licenses enables Sony to extend its business presence into novel geographical regions without incurring substantial capital expenditures or organizational demands. As an illustration, Sony engages in technology licensing agreements with other entities to facilitate the production of various products, including but not limited to smartphones and gaming consoles (Ooi, 2021). Sony employs franchising as an alternate method of expanding their business operations. The franchising concept entails conferring authorization to a third-party entity to operate under Sony’s trademark and organizational strategy in return for initial remuneration and regular royalties. Franchising has emerged as a widely favored mode of enterprise expansion, particularly for entities operating in the domains of retail and service (Ooi, 2021). Sony has leveraged the franchising strategy to propel its retail operations into new and emerging markets across Europe and Asia. Sony has utilized direct investment as a strategy for growth and expansion. The process of direct investment entails the establishment of wholly-owned subsidiaries within the designated target market. The strategy of expansion that necessitates substantial financial investment enables Sony to exercise full authority over its activities within the focused market (Ooi, 2021). Utilizing the strategy of direct investment, Sony has established manufacturing and research and development facilities in various markets, including the United States and Europe.
Analysis of Sony’s internationalization strategies
Sony’s approach to internationalization encompasses the utilization of its established brand recognition and technical proficiency to penetrate and expand into novel overseas markets. According to Alhashash et al. (2019), the organization possesses a robust brand identity and a renowned standing for crafting electronics of exceptional value. The organization has effectively penetrated novel markets by leveraging its pre-existing competencies. Sony’s approach towards internationalization encompasses a focused approach to research and development. Sony places significant emphasis on research and development to devise novel products that appeal to a diverse range of consumers in various markets (Alhashash et al., 2019). The circumstance has enabled the organization to set itself apart from its contenders and cement its position as a forerunner in numerous product domains, such as gaming consoles and televisions.
Sony employs a strategy of product localization as a means of internationalization. Sony acknowledges that distinct markets possess individual cultural, legal, and regulatory necessities. As a result, Alhashash et al. (2019) share that it customizes its offerings to cater to the unique requirements of individual markets. An instance of a well-received market entry is exemplified by Sony’s approach to the Indian market. To satisfy local consumers’ requirements, Sony initiated the development of a collection of cost-effective and multimedia-equipped smartphones. The branding strategy implemented by Sony constitutes a crucial element of its approach to expanding its global presence (Alhashash et al. 2019). The corporation has a robust brand reputation has established worldwide recognition as a foremost authority in electronic goods manufacturing. Sony has established its reputation by implementing a synergistic strategy encompassing marketing initiatives, product excellence, and customer support (Alhashash et al., 2021). Through strategically utilizing its established brand reputation, Sony has successfully penetrated novel markets and positioned itself as a formidable contender amongst well-established competitors.
Problems and Challenges Encountered by Sony
Challenges faced by Sony in entering a new foreign market
Sony has faced various obstacles while venturing into novel foreign markets. One of the primary hurdles the company has encountered is encroachment from established market participants. As an illustration, when Sony entered the smartphone market in China, it encountered formidable competition from local contenders, namely Huawei and Xiaomi. Sony has encountered a formidable challenge in adjusting to the exclusive cultural and regulatory prerequisites across various markets (Wan, 2022). As illustrated, Sony’s entry into the Indian market necessitated a product adaptation process to cater to the indigenous consumer base’s preferences and align with the market’s regulatory requirements. The utilization of substantial resources in the pursuit of research and development can incur significant expenses and demands considerable time. Sony has encountered significant obstacles in establishing a distribution network in emerging markets (Wan, 2022). Establishing bonds with nearby distributors and retailers could be arduous and time-intensive, especially within markets where Sony needs more recognition.
Analysis of how Sony overcame the challenges
In order to surmount these obstacles, Sony has implemented numerous strategic approaches. Sony has strategically concentrated its efforts on product differentiation to address the challenges established competitors pose. According to Alhashash et al. (2019), the organization has allocated considerable resources toward research and development endeavors to create novel products that provide distinctive attributes and advantages to customers. As an illustration, Sony’s Xperia smartphones present characteristics such as cutting-edge cameras with high resolution and sophisticated audio systems, which set them apart from their counterparts.
To effectively navigate the challenge of conforming to diverse cultural and regulatory specifications, Sony has established local teams within varying international markets. The teams are responsible for comprehending the native inclinations of consumers, prevailing market patterns, and regulatory prerequisites (Alhashash et al., 2019). The phenomenon has allowed Sony to design and manufacture products that cater to the distinctive requirements of individual markets while ensuring conformity to relevant regional policies. In light of its business strategy, Sony has directed its efforts toward forging robust alliances with native distributors and retail establishments. Sony has made significant investments in training and development programs aimed at facilitating its partners’ comprehension of its products and brand (Alhashash et al., 2019). This strategy has played a fundamental role in establishing a robust distribution network in formerly untapped markets.
Theoretical Frameworks for addressing challenges in Internationalization
In order to tackle the obstacles Sony encounters in its internationalization efforts, various theoretical frameworks may be utilized. The Uppsala Model is a notable framework that posits that companies incrementally extend their overseas activities by acquiring experiential insights and amassing market expertise. Munusamy and Hashim (2020) offer that the framework highlights the significance of comprehending a particular geographic location’s prevailing market dynamics and conforming to that locale’s distinctive social and legal norms. The Eclectic Paradigm is a framework that offers a comprehensive approach to penetrating foreign markets effectively. According to this paradigm, Wu and Vahlne (2020) support that firms must possess ownership, location, and internalization advantages to succeed in their foreign operations. This particular framework underscores the significance of capitalizing on a company’s distinct strengths and advantages across varying markets.
The Resource-Based View (RBV) framework has the potential to tackle challenges related to internationalization effectively (Sharma et al., 2022). The present framework posits that to achieve an enduring competitive advantage across varied markets, corporations must strategically cultivate and harness their distinctive organizational assets and competencies (Sharma et al., 2022). Sony has effectively leveraged its unique resources and capabilities to efficiently penetrate novel foreign markets through strategic investments in research and development, fostering robust alliances with regional distributors and retailers, and establishing dedicated local teams across disparate markets.
Implications for other Small-Medium Enterprises
The experience of Sony in the field of internationalization presents numerous implications for other small to medium-sized enterprises (SMEs). Initially, the statement assesses the significance of allocating resources toward research and developmental endeavors to generate inventive commodities which separate the organization from its rivals. The findings by Wang and Wang (2020) offer that Small and medium-sized enterprises (SMEs) may derive instructive insights from Sony’s experience and focus on product development endeavors that deliver exceptional traits and advantages tailored to satisfy the particular requirements of diverse market segments.
The significance of comprehending local market circumstances and conforming to regional cultural and regulatory prerequisites is exemplified in Sony’s experience as a company. According to Dai et al. (2021), Small and Medium Enterprises (SMEs) may benefit from Sony’s approach by engaging in market research to gain an in-depth understanding of regional consumer inclinations and current market tendencies. Dai et al. (2021) support that implementing this strategy can be a facilitative measure for Small and Medium Enterprises (SMEs) in augmenting their product and service line to satisfactorily cater to diverse markets with specific regional requirements and adhere to pertinent regulatory frameworks.
The third point from Sony’s experience underscores the significance of fostering robust collaborations with indigenous distributors and retailers within a given market. Small and medium-sized enterprises (SMEs) have the potential to gain valuable insights from Sony’s approach by implementing training and development initiatives aimed at enhancing the comprehension of their products and brand by local partners (Asada et al., 2020). The implementation of this approach has the potential to facilitate the creation of a robust distribution network in unexplored territories and foster brand recognition amongst indigenous customers.
Sony’s experience highlights the importance of SMEs being willing to allocate substantial resources and time to facilitate the process of internationalization. Small and Medium Enterprises (SMEs) are often confronted with considerable hurdles when embarking on market expansion endeavors, particularly in foreign domains (Maroufkhani et al., 2023). These obstacles may include fierce competition from incumbent firms, conforming to specific cultural and regulatory prerequisites, and setting up an efficient distribution system. Even so, SMEs can surmount these hurdles and triumph in novel foreign markets through resource allocation in product development, market research, and robust partnerships with local distributors and retailers (Maroufkhani et al., 2023). The analysis of Sony’s experience in internationalization reveals practical implications for small-medium enterprises. SMEs can effectively penetrate new foreign markets and attain sustainable growth and profitability by investing in research and development, comprehending local market conditions, fostering robust relationships with indigenous partners, and manifesting readiness to expend ample resources and time.
To summarize, this scholarly article undertakes a comprehensive analysis of Sony’s entrepreneurial pursuits and its strategies towards internationalization, shedding light on the various obstacles it encountered while entering a novel foreign market and the corresponding tactics employed to surmount them. This academic paper delved into the essential inquiries regarding Sony’s criteria for selecting novel international markets alongside Sony’s expansion modes and international strategies. The work also sheds light on the various obstacles faced by Sony and their potential impacts on similar small to medium enterprises. Various theoretical frameworks, including the OLI paradigm, institutional theory, and cultural distance theory, informed Sony’s strategy for market selection in its internationalization process. Sony considered numerous factors, including the magnitude of the markets, the rate of economic growth, the prospects for development, and the stability of political conditions, in making decisions concerning identifying new international markets. Sony employed a multifaceted approach to expanding its international presence, employing joint ventures, acquisitions, and greenfield investments as strategic entry modes into novel foreign markets. The company utilized several global tactics, including customization, standardization, and localization, to effectively adapt to regional market conditions and secure a competitive edge. Sony encountered numerous obstacles when venturing into novel foreign markets, encompassing cultural impediments, legal and regulatory impediments, and arduous competition. The repercussions of Sony’s encounter hold pertinent weight for prospective investigations, calling for extended scrutiny into the function of institutional determinants, cultural disparities, and market potential as influential factors directing small and medium-sized enterprises (SMEs) market selection judgments. Potential research endeavors may consider delving into the significance of strategic partnerships and collaborations in surmounting internationalization-related obstacles. In conclusion, this experience of Sony presents significant insights that could be valuable to small and medium-sized enterprises aspiring to extend their operations globally. Through comprehensive comprehension of local market factors, allocative investment in product development and innovative endeavors, and formation of strong affiliations with local distributors and retailers, small and medium-sized enterprises (SMEs) can effectively resolve challenges that emerge during the process of internationalization, thereby attaining a consistent, enduring growth and profitability.
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Strategic Leadership And Human Resources Essay Example
Human resources are the number one asset of any organization. From this perspective, human resource management is critical to the operation and success of organizations. Human resource management involves concepts such as recruitment and selection of employees. This process also involves learning and development as well as performance management. In addition, HRM also involves compensation and benefits to the employees. H.R. data and analytics, as well as Human Resource Information Systems, are the foundations of effective HRM.
All these functions are essential in obtaining and retaining the best talent and building an organization’s human resources. All these aspects create collaboration and engagement, thereby developing strategic human resource management where employees feel engaged and valued and more motivated to participate in an organization’s operations.
In this process, the Strategic Human Resource Management theory presents critical decisions about human resource practices. Integrating employees’ skills and different abilities create the best human capital. Therefore, organizations should make vital decisions with the help of this theory, which promotes effective human resource management and supports better organizational performance (Anwar, G. 2021, 5).
While engaging in practices such as compensation and benefits, learning and development, as well as recruitment and selection, employees should be at the heart of this process. This is because such practices and decisions affect them. As a result, making decisions and promoting practices that are in their best interest go hand in hand with improving the overall performance of organizations.
Analysis of the significance of Strategic Human Resources Management (SHRM)
The primary objective of the SHRM is to ensure that employees’ different abilities and talents are utilized effectively. This process is carried out by identifying the employees’ development needs and responding by providing resources and training to help the employees improve. The intention and goals of the SHRM are to develop programs and policies that align with the company’s business strategy.
Therefore, SHRM is essential as it helps companies achieve their goals and improve the overall performance of the employees. Employees can improve their performance when provided with a conducive working environment. SHRM delivers just that. By having such an environment, employees can improve their productivity. In addition, SHRM enables businesses to save revenue by enhancing productivity and reducing turnover. This process is done by creating compensation and benefits programs that attract and retain existing talent.
As indicated earlier, human resources are the number one asset in any organization. Therefore effective management is vital to such an asset. The function of HRM is to recruit the best talent that the organization needs. In addition, HRM provides also provides a platform for hiring and training these talents (Budhwar, P. 2018, 486).
Consistently, HRM also supports the employees to help them improve their performance and reach their full potential to help the organization achieve its goals and objectives. When an organization achieves its goals and objectives, sit grows even to the next level. In the same spirit, developing the best talent translates into having the bests skills and abilities in employees. An organization with highly skilled and experienced employees develops a competitive advantage over other companies, staying ahead of the competition.
Providing support to the employees involves compensation, benefits, and training and development. When the employees are noticed and recognized by their department for a job well done, they are likelier to perform even better next time. Consistently, this approach has a ripple effect as other employees are more likely to strive to achieve better to get the same recognition and rewards as their colleagues. This way, the organization is expected to improve its performance and output, thereby increasing its profitability.
Extensively, staffing enables organizations to onboard the best employees for different responsibilities. From this perspective, the scope of staffing pays more attention to recruitment, training, and even development of employees within an organization. Like any other organization, Etisalat undergoes the same process (Christopher, N. 2018, 30).
In this regard, the company has the most competitive recruitment process. This is because its recruits and looks for the best talent. Subsequently, the company gets and trains these talents and helps them to achieve their goals and objectives. As a result, the company has improved its performance, thereby attaining its strategic objectives. This performance has also promoted essential stakeholder satisfaction, which is even better for the company.
However, the company’s compensation activities for HRM have had issues before. This is because some of the rewarded employees could have been more deserving. Therefore, HRM should develop a legally binding policy and promote organizational compliance. Legal compliance in such an aspect is vital as it helps the HRM identify and reward the most deserving employee. This is a gap that needs to be filled. The best way to fill the gaps is to develop a policy and a system that scores the employees’ work. The one with the best scores deserves recognition and a reward.
The abovementioned HRM activities, compensation, benefits, learning, and development, among others, help the employees achieve their goals and objectives, including those of the organization.
Over the years, the perception of SHRM has changed to one that aligns the organization with its values, vision, and mission and with the various business objectives and strategies. The emphasis on SHRM is being a strategic and dependable business partner. Additionally, it reflects on utilizing human resources and flexible arrangements to achieve organizational goals. It affects current H.R. issues such as performance appraisal, compensation, benefits, and recruitment and selection. In addition, the SHRM is perceived to emphasize organizational performance, which affects modern HRM, which mainly focuses on individual performance.
Impact of HRM Activities on organizational performance
Practical HRM activities go a long way in improving organizational performance. As indicated earlier, HRM activities and practices include compensation, benefits, and learning and development, among other aspects. These elements are critical to the motivation and satisfaction of employees. For that reason, effective management of such activities greatly influences employee satisfaction and motivation, significantly contributing to organizational performance.
Dave Ulrich’s H.R. model has developed various strategies for H.R. professionals, such as focusing on activities that contribute to organizational success instead of just administrative tasks. With the guidance of the H.R. professional, such approaches enable employees to contribute to organizational performance (Shaalan, L. 2022, 240).
In addition, the same model advocates for increased collaboration between H.R. professionals and employees toward achieving overall organizational objectives and strategy. The model also suggests the development of new competencies which enable H.R. professionals to build diverse sets of abilities and skills, such as strategic thinking and financial acumen, among the employees to promote organizational performance. See the model in Appendix I.
Extensively, HRM activities can enhance the performance of organizations by increasing the level of commitment and motivation among employees. In addition, these practices develop a psychological contract with the employees, which enables them to work towards achieving the goals and objectives of the organization.
Consistently, these HRM activities enhance employees’ skills and abilities, creating a rich skills base that promotes organizational performance. Finally, these activities offer employees extended roles to optimize their skills and abilities, boosting their experience and the organization’s performance.
Extensively, HRM practices enhance organizational effectiveness by promoting profitable experiences for employees. For instance, employees can get to the orientation programs of organizations which enable them to learn about the organizations together with its goals and values, increasing organizational performance. Overall these activities foster excellent organizational development. Increased organizational performance enables organizations to move from one level to the next, promoting more excellent organizational development.
Leadership Styles and Practices in Organizations
Contingency theory of leadership
This theory is called situational leadership theory and proposes that different leadership styles suit different situations. In this leadership theory, the company’s leaders must assume their leadership style based on their condition. This approach to leadership increases effectiveness and innovation. This theory enables different leaders to adapt to various needs and become versatile. In addition, it also makes their transition from one level to another more manageable and gives them the required knowledge and skills to face different situations.
This theory can be used to promote organizational development at Etisalat Telecommunication Company. In this regard, it can help different leaders in the organization respond appropriately to different situations and have the necessary knowledge and skills to tackle problems they might face on the way (Demir, A.2018, 175).
Transformational leadership theory
This theory asserts that leaders should share a good relationship with their team members. Such leaders significantly influence their teams and improve their focus on achieving the goals and objectives of the organizations through inspiration and influence. These leaders also ensure that their teams’ objectives are aligned with that of the organization to avoid discrepancies.
Leaders at Etisalat Company can adopt the principles of this theory to promote organizational development. By building a good relationship with their team members, these leaders are more likely to inspire and positively influence the performance of each team member and hence that of that organization.
At the current organization, employees tend to perform better when they are rewarded. Subsequently, the best leadership style for Etisalat would be transactional leadership. In this style, leaders of different departments will recognize and reward employees that record exemplary performance. However, when these employees fail, they will get an official expression of disapproval from the same leaders. However, this disapproval is limited to the employees’ situation and performance. This limitation does not punish the process of trying to offer solutions to problems, as it discourages innovations.
Implementation of change in an organization
Among the various factors that drive organizational change include growth opportunities. This is no surprise in the modern digital marketplace. The digital economy has revealed various growth opportunities, such as new markets, innovative products, and contemporary business practices and processes. Combining these factors leads to growth opportunities that drive organizational change (Lewis, L. 2019, 410).
Consistently, competitive pressure is another driver of organizational change. Most people in organizations resist change; they only embrace it when they have to. However, competitive pressure is one of the most significant elements that push people to change. Additionally, the shift in culture in organizations is another driver of organizational change. Typically, cultural shits in organizations occur naturally. When they occur, they demand processes and modern workflows which promote organizational change.
Extensively there are various change management models. Lewin’s change management model is one of those. This model divides change into multiple steps—Unfreeze, the preparation stage. Evolution is the implementation phase, and refreezing is the stage where the drivers of change avoid returning to the old ways. In addition, the McKinsey 7-S model breaks down differences into seven steps involving the strategy and structure, business processes and systems, as well as the manner of work, staff, and the team’s skills.
On the other hand, Kotter’s change management theory focuses on the people that drive change and their psychology. According to the idea, these people should develop a sense of urgency which is aimed at motivating the people. In addition, the driver of change should carry a strategic vision and communicate effectively during the transition process to ensure that every team member has the idea and keeps up the momentum throughout the process.
To create an effective change management plan, various steps should be followed; they include defining the change and aligning it to the business goals. Secondly, the change driver should determine the impact of the people affected by the change and an effective communication strategy. In addition, the change driver should offer practical training, execute a support structure, and measure the change process (Rasool, S. 2019, 1010).
To communicate the implementation of change to organizational stakeholders, the driver of change should communicate the vision and share it honestly and regularly. In addition, the change driver should communicate through modeling and engagement with the team players.
Finally, the change driver should build a culture of change and train the team leaders first. This way, the change process will have minimal hurdles and eventually prevail against the resistance. In addition, the change driver should resolve any conflict experienced among the team members quickly and effectively to promote the change process. Finally, the change driver should have passion for the change and the process of change.
In conclusion, the primary objective of the SHRM is to ensure that employees’ different abilities and talents are utilized effectively. This process is carried out by identifying the employees’ development needs and responding by providing resources and training to help the employees improve. The intention and goals of the SHRM are to develop programs and policies that align with the company’s business strategy.
However, this process can only be effective with deliberate HRM activities that promote organizational performance. In addition, various leadership styles must be developed to make this process seamless. Conclusively, organizational performance is driven by change. The change process has challenges, as most people resist it and only embrace it when they have to. However, to promote this process, the change driver should develop a positive culture towards change and the process of change, solve any conflict that might be experienced among the team members as quickly as possible and effectively, and speak passionately about the change process.
Anwar, G. and Abdullah, N.N., 2021. The impact of Human resource management practice on Organizational performance. International Journal of Engineering, Business, and Management (IJEBM), 5.
Budhwar, P. and Mellahi, K., 2018. HRM in the Middle East. In Handbook of Research on Comparative Human Resource Management (pp. 487-499). Edward Elgar Publishing.
Christopher, N., 2019. The effectiveness of HRM policies and practices. International journal of social sciences, 2(1), pp.24-32.
Demir, A. and Budur, T., 2019. Roles of leadership styles in corporate social responsibility to non-governmental organizations (NGOs). International Journal of Social Sciences & Educational Studies, 5(4), pp.174-183.
Lewis, L., 2019. Organizational change. In Origins and traditions of corporate communication (pp. 406-423). Routledge.
Rasool, S.F., Samma, M., Wang, M., Zhao, Y. and Zhang, Y., 2019. How human resource management practices translate into sustainable organizational performance: the mediating role of product, process and knowledge innovation. Psychology research and behavior management, pp.1009-1025.
Shaalan, L.A.A.B., Elsaid, A.M. and Aboul-Ela, G.M.B.E., 2022. Knowledge management processes and strategic human resources management: Creating competitive advantage through employee innovation behavior. The Business & Management Review, 13(2), pp.237-245.
Appendix I: Dave Ulrich’s H.R. model table