Corporate Strategy of Record Label Term Paper Example | Topics and Well Written Essays - 3000 words - 1

Corporate Strategy of Record Label - Term Paper Example The labels are demanding a revolution from their trade unions and they have dropped DRM to keep up with the changes in the contemporary world by engaging in innovative operations. The competition among the key players in this industry is not as aggressive as in other industries. Sony record label is a renowned company in the entertainment industry offering diverse products and services to its wide market as explained by Hanson et al. (2001). Their productions are highly refreshing and entertaining (Sony United 2007). This is achieved by efficiently combining and managing its resources, competencies, and abilities. This results in a strong competitive advantage. Resources are the features owned and managed by a company to create value for customers as stipulated by Hill et al. (2007). The discussion below analyses the different resources owned and managed by the company. These are described as the tangible resources that have physical properties and are financial in nature (Hill et al. 2007). The company recorded an increase in sales of 10% in the year 2007 (Sony United 2007). The company owns other forms of tangible resources in form of land, buildings, machinery, and equipment valued at nearly 14 million dollars (Sony United 2007). Recent consolidated financial statements how that the company’s annual sales had increased to 78 billion dollars as at 31st March 2010 (Sony Corporation of America 2011). The company has a variety of assets that form a substantial part of the financial assets that have been increasing over the years. The company has intangible resources that have prospective benefits as stated by Hill et al. (2007). The company is linked to quality and is among the top enterprises globally. This reputation has led to increased sales over the years (Singh et. al. 2005). The company’s brand is recognized worldwide and it is among the most trusted music labels.