Evaluation of Canon’s Strategies
Evaluation of Canon’ Strategies The first part of this investigation involves an evaluation of the strategies used by Canon and the key factors for success. In order to being this review, it is first necessary to consider how the company has performed in recent years. Table 1 provided below provides an overall review of the organization’s performance in recent years. The data clearly suggests that Canon has made notable progress toward developing market share, revenues and profitability. In addition to reducing its debt to asset ratio in 2008, the organization also increased its stockholder equity to assert ratio. Table 1: Key Performance Indicators for Canon, 2004-2008
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Data courtesy of: http://www.canon.com/ir/annual/2008/report2008.pdf Other indicators of Canon’s success are provided in Figures 1 and 2 below. These illustrations provide a review of net sales and ROE/ROA for 2003-2007. Figure 1: Net Sales for Canon Figure 2: ROE/ROA for Canon
Data courtesy of: http://www.canon.com/ir/annual/2007/report2007.pdf
With the realization that Canon has performed so well in recent years, it is pertinent to consider the specific areas which have promulgated success for the organization. A crucial review of the case information provided on the organization suggests that there are a number of pertinent strategy elements which have been pertinent to the success of the organization. In particular the organization has worked to develop a mission and vision which it has incorporated on all levels of its operations. The development of a guiding mission for the organization is essential for success (Henry 2007). Missions provide the foundation for the development of actionable processes which can be used for moving the organization toward specific goals (Johnson, Scholes & Whittington, 2008). In addition to developing a mission and vision which provided the organization with a directive for action, Canon also
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Data courtesy of: http://www.canon.com/ir/annual/2008/report2008.pdf Other indicators of Canon’s success are provided in Figures 1 and 2 below. These illustrations provide a review of net sales and ROE/ROA for 2003-2007. Figure 1: Net Sales for Canon Figure 2: ROE/ROA for Canon
Data courtesy of: http://www.canon.com/ir/annual/2007/report2007.pdf
With the realization that Canon has performed so well in recent years, it is pertinent to consider the specific areas which have promulgated success for the organization. A crucial review of the case information provided on the organization suggests that there are a number of pertinent strategy elements which have been pertinent to the success of the organization. In particular the organization has worked to develop a mission and vision which it has incorporated on all levels of its operations. The development of a guiding mission for the organization is essential for success (Henry 2007). Missions provide the foundation for the development of actionable processes which can be used for moving the organization toward specific goals (Johnson, Scholes & Whittington, 2008). In addition to developing a mission and vision which provided the organization with a directive for action, Canon also