T — Technology Technology plays a huge part in business, and it can impact it either negatively or positively. Sony needs to consider the following economic external factors in its remote or macro-environment: Return on Total Assets: Technology would always be a benefit to mankind and the technological upgrades would help to show the advances of the progress of the company image.
In the software market, even though the nature of video games is that no games are inherently similar to any other, the threat of substitutes and buyers switching over to a competitor still exists in a particular demographic where people treat all video game titles as equal entertainment products.
Most of these external factors present opportunities that Sony can take. It should be included in every business plan, in addition to a SWOT analysisas it is part of risk management and strategy design.
Bargaining Power of Buyers While many of its competitors such as Sony and Microsoft have many other businesses serving as sources of revenue, gaming consoles and video games are the only sources of income of Nintendo.
Another consideration is the increasing availability of recycling facilities. For example, the company can expect potential increases in PlayStation sales revenues, as more people are likely to purchase the product. Issues that must be considered include tax guidelines, copyright and property law enforcement, political stability, trade regulations, social and environmental policy, employment laws and safety regulations.
This trend is especially dangerous for Nintendo, as the Pest analysis of gaming industry prioritizes its own Nintendo ecosystem by chipping down the number of gaming platforms for game development strictly to its own gaming consoles.
Another consideration is the increasing availability of recycling facilities. Companies should also consider their local and federal power structure, and discuss how anticipated shifts in power could affect their business. Political factor is a critical factor with high potential impact to the market.
Due to the fact that the console manufacturing industry relies heavily on unique, patented technological hardware products, suppliers in this industry possess considerable power. Academic Conferences International Limited. The trend of consuming needs of personal and business, for example, the trends of pursuing luxury goods and hotels, and trends of doing conferences, incentive groups, events internationally.
Sony can focus more on enhancing its mobile devices to take advantage of opportunities based on the high rate of adoption of mobile technologies. Centralized Entertainment Hub for Families Having many significantly memorable and globally well-known intellectual properties, Nintendo could in fact expand its scope beyond game consoles and video games, to other forms of entertainment, such as a centralized entertainment hub, targeted specifically at families.
Political stability of biggest markets opportunity Increasing governmental support for data security opportunity Increasing governmental support for online business opportunity Sony Corporation benefits from the political stability in majority of the biggest markets.
The company must effectively consider these factors in its strategic decision-making. Legal Factors Sony Corporation must satisfy legal requirements appropriate to its remote or macro-environment. For example, the company can enhance its brand image by increasing its sustainability efforts.
Introduction Nintendo is a Japanese based multinational consumer electronics company with its headquarter located in Kyoto, Japan. Increasing emphasis on business sustainability opportunity Increasing demand for environmentally friendly products opportunity Increasing availability of recycling facilities opportunity Sony Corporation has growth opportunities based on the increasing emphasis on business sustainability.
The following sociocultural external factors are relevant in the case of Sony Corporation: This external factor is a threat because it creates more challenges against the company.
Senior citizens are generally people who are enjoying retirement, with a lot of time and money. This is most of the time due to research, development and production costs, as well as brand recognition, and product life cycle innovations. All of these impact how consumers buy houses, cars, etc.
There are lots of economic factors that will affect the business.
A recommendation is that the company must increase its efforts in product innovation to improve environmental impact and competitive advantage, while addressing concerns regarding product regulation.
Public Domain Sony Corporation continues its global success by addressing the external factors and related issues in the remote or macro-environment of its business. Since the ban on sales of video game consoles has only been lifted recently, this strategy will certainly assist Nintendo in securing an advantageous position in the market.
This may be a large opportunity for Nintendo, as the younger generation of China is getting more interested in foreign video games. However, it is worth noting that video games themselves are still the largest determinant of whether or not a business will succeed.
I would see that the government is not going to change its positioning and policies towards the gaming industry for at least over 2 years. This indicates that the company is operating with extremely low efficiency in turning investments into profits.Pest Analysis Of Gaming Industry. PEST ANALYSIS A PEST (Political, Economic, Social and Technological) analysis is a major part of the environmental scanning section of strategic management and it is used by companies during market research and strategic analysis.
Feb 28, · Strategic Management – An Analysis of the Video Games Industry and Nintendo’s Opportunity in China Executive Summary Despite being one of the largest video game corporations in Japan and in the world, Nintendo has seen its own sales and financial performance crumbling in the last 3 years.
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Pest Analysis Of Gaming Industry. PEST ANALYSIS A PEST (Political, Economic, Social and Technological) analysis is a major part of the environmental scanning section of strategic management and it is used by companies during. Sep 28, · Free Essays on Pestle Analysis Of Gaming Industry.
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