Evaluation of Canons Strategies Essay Example | Topics and Well Written Essays - 2000 words

Evaluation of Canons Strategies - Essay Example This mixture demands continuous and effective flow of information and the ability to adapt to change. All members of the company should be involved and strategy, when needed, needs to be changed accordingly. Robust measurement of strategic competences is critical. Canon has applied strategic planning since 1957. The strategic approach to achieving top market position involved everyone and there was a careful planning of the resources needed in order to achieve the market position. Canon has focused on the photocopying market in the beginning and it has focused on niche marketing i.e. producing small photocopiers. It has in parallel, developed new technology. Starting from photocopiers, Canon has developed since then core competencies in printers, scanners etc. The company emphasized customer satisfaction and it is customer oriented. Based on customer satisfaction, it has developed its growth plan which is called â€Å"Excellent Global Corporation Plan†. In this plan, the goal of Canon is clearly stated i.e. top share and profitable operations. The strategic planning process involved: highly automated manufacturing plant, high –technology products and synergy. So, the structure of Canon’s strategic plan was the following: the centre set the long-term strategy whereas the business units (product divisions) implement medium-term planning acting always within the constraints placed by the centre. Crisis management and contingency planning were important in Canon’s strategic process since the company wanted to be prepared in case of adverse events. These various plans were consolidated by the centre. Each business unit/division prepares its own budget, these budgets are gathered and then the centre prepares short-term plans. The company culture is quite distinctive: people are encouraged to talk and debate. The emphasis on people is shown in the objectives of Canon for the years 2001-05 among other objectives such as product leadership, development of R&D and strong financial position.  Ã‚