Canon's strategies have been very effective in balancing growth of market share and profitability of the company by controlling a significant share of focused niche markets in the imaging industry. Canon's strategic challenges in-volved identifying the markets in which it intended to compete and developing competitive advantages to allow the firm to balance market share and profitabil-ity growth within these markets.
In the late 1960s, Canon initially adopted a business-level strategic vision of focusing on the small photocopier niche that was underserved by its major competitors using a technology that was totally different than the existing tech-nologies used by the competition. The strategic vision provided direction for Canon’s strategic planning process. At the same time, the corporate planning process was flexible enough to allow Canon to recognize and exploit opportuni-ties in related markets over the long run and to adopt the corporate strategy by diversification based on the evolution of its core competencies. Over the long run, the development and application of Canon's strategy was successful and has made the company a leader in the imaging industry group.
The assignment provides current data about Canon’s business units with re-spect to sales revenue and market shares for the core products. Further, a SWOT analysis is done for the company and together with a industry attractiveness and competitive strengths rating of each business unit a nine-cell matrix developed. The work concludes with some general recommendations for the future strategy of Canon Inc. and some particular ones for each business unit. Finally, some general management aspects are provided by the ITM checklist.
Table of Contents
- Executive Summary
- Canon Inc.
- CANON Corporate Philosophy "kyosei"
- Analysis Canon Inc.
- Business Fields of Canon Inc.
- Business Unit Office
- Business Unit Consumer
- Business Unit Industry and Others
- Market shares Canon Inc.
- SWOT Analysis on Canon Inc.
- Strengths
- Weaknesses
- Opportunities
- Threats
- Nine-Cell Matrix Canon Inc.
- Business Fields of Canon Inc.
- ITM Checklist
- References
Objectives and Key Themes
This work analyzes the strategies of Canon Inc., a leading player in the imaging industry. The objective is to understand how Canon has successfully balanced growth of market share and profitability through its focused approach to niche markets. The analysis includes an examination of Canon's business units, market shares, and a SWOT analysis. The paper also develops a nine-cell matrix to assess the attractiveness of Canon's business units and their competitive strengths. Key themes explored in this paper include:- Canon's strategic vision and its impact on the company's long-term success.
- The importance of focusing on specific niche markets to gain competitive advantage.
- The role of diversification and core competencies in driving corporate strategy.
- The application of SWOT analysis and nine-cell matrix frameworks to assess business unit performance.
- Recommendations for Canon's future strategy.
Chapter Summaries
- Canon Inc.: This chapter provides an overview of Canon Inc., its history, and its current business operations. It outlines the company's key products and services, highlighting its position as a leader in the imaging industry.
- CANON Corporate Philosophy "kyosei": This chapter explores the core philosophy of Canon Inc., "kyosei," which emphasizes living and working together for the common good. It examines how this philosophy has shaped the company's strategic decision-making and its commitment to social responsibility.
- Analysis Canon Inc.: This chapter delves into a detailed analysis of Canon Inc.'s business operations, including its business fields, market shares, and SWOT analysis. It examines the company's strengths, weaknesses, opportunities, and threats in detail.
- Nine-Cell Matrix Canon Inc.: This chapter applies the nine-cell matrix framework to assess the attractiveness of Canon's business units and their competitive strengths. It uses this framework to identify areas for improvement and to recommend future strategic directions.
Keywords
This paper focuses on strategic corporate management and the imaging industry, examining Canon Inc.'s success through a lens of market share, profitability, and competitive advantage. Key terms explored include: diversification, core competencies, SWOT analysis, nine-cell matrix, niche markets, and corporate philosophy.- Quote paper
- Dipl. Ing. MBA Matthias Beer (Author), 2011, CANON Inc. Any chance to beat its global competitors?, Munich, GRIN Verlag, https://www.grin.com/document/262136
