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Business strategy forms the core of every business decision making process. The top management of every company is concerned about the formulation of proper business strategy so that the objectives of the firm can be attained effectively. A business strategy entails a number of things which are discussed in the ensuing paragraphs. The case of Sony Ericsson has been discussed and the different strategies adopted by it together with its effectiveness.

Task 1

1.1 Alternative business strategies for Sony

The means of accomplishing the corporate goals of any corporation are provided by the business strategy. There are a range of strategies present which can define the success of a firm. These are retrenchment, limited growth and substantive growth. Taking the case of Sony Ericsson and having reviewed is mission and vision of a joint venture, the strategy of substantive growth is the most suitable for the organization. This strategy primarily lays focus on vertical and horizontal integration of the organization (Hensmans, Johnson and Yip, 2013). Main goal of substantive growth strategy is the expansion of the product line of Sony Ericsson in addition to the company line. Corporate line can be augmented by balanced, backward or upward integration with other firms. To facilitate vertical integration, the company has established ties with Toshiba and IBM. The main intention of such integration is the development of the new products to be launched in the ever changing electronics market. In addition to this vertical integration is also focused on augmenting the manufacturing capabilities and capacities in core material for the production system of the organization. This alternative strategy is bound to improve the quality of products whilst promoting the prevailing technology of the company (Malphurs, 2013).

For the smooth functioning of this joint venture, the company can also follow a diversification strategy. Currently, Sony is producing 30 percent of its revenue from area other than its core domain. Hence, diversification in other areas can prove to be profitable for this corporation. Firm can diversify its product portfolio in motion pictures, music, games and other areas for amplifying the market share and size in the industry. Eventually, by the usage of vertical integration and strategy of diversification, Sony Ericsson can accomplish its goals of a successful joint venture (Elbanna, 2010).Strategy assignment help available by expert writers at Assignment Desk.