Public Domain Sony Corporation continues its global success by addressing the external factors and related issues in the remote or macro-environment of its business.
It is important to understand the competitive advantages of the company between current players and Pest analysis of gaming industry the market is doing locally and internationally. It is important to understand the external factors which is affecting the company or even the industry so as to plan and executive the right strategies ahead.
Political factor is a critical factor with high potential impact to the market. This refers to the degree of intervention of the government policy to the economy.
Whether the government wants it to expand or they want to control the rapid growth of the gaming industry. The Hotel and gaming industry need government support in order to sustain in the competitive world.
I would see that the government is not going to change its positioning and policies towards the gaming industry for at least over 2 years.
There are lots of economic factors that will affect the business. These includes exchange rates, taxation changes, economic growth locally an internationally, and the inflation. There is a great impact especially for the international economic situation. Being hospitality and gaming industry, the major sources of customers are Tourism outside the local economy, whether the global economy is doing good will affect the spending power and their willingness to travel and spend.
For example, China and India, are developing rapidly in recent years, we can try to bring in more focus group and advert more in that areas so as to attract them to come.
The economic situation varies from time to time; we need to keep reviewing this from time to time to keep track the flow of the economy. The trend of consuming needs of personal and business, for example, the trends of pursuing luxury goods and hotels, and trends of doing conferences, incentive groups, events internationally.
Understanding this, we can know whether we should put more capital in bring in more luxury brands, introduce more luxury restaurants and focus more on MICE industry.
It is also important to build a bright image in its management style and organization culture which would help to fight for people with limited human resources in Macau.
The trend of using technology increase rapidly these years, especially the use of interest which give much convenience in providing information and making reservation online. With internet, message, promotion can be easily convert to the world and helps in global communications.
Technology would always be a benefit to mankind and the technological upgrades would help to show the advances of the progress of the company image. Wifi internet connection becomes a must have if the company market itself as one of the luxury and modern hotel. Update technology in front desk check-in system, reservation system and housekeeping would help to bring efficiency and would help to reduce the manpower and help to reduce spending.
The laws that implement to the industry would affect the decision of the company. Say for example, the government decision in prohibition the minimum age that can enter casino and to raise the minimum age that can work in casino from 18 to 21, the regulation that only local citizen can work in the gaming industry, will affect the workforce and affect the pressure of HR in the company.
This will help building strong reputation. Also, it is important to understand the market growth, understand the competitive advantages and to focus on the turnover rate of staff in this competition of workforce. Global factors whether other countries in Asia and South East Asia are going to legalize the gaming industry, to identify the targeted customers and whether to expand its own business internationally to share the market shares.A PESTEL/PESTLE analysis of Sony Corporation considers the external factors in the remote or macro-environment of the company’s business in the electronics, gaming, entertainment and financial services markets.
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Pest Analysis Of Gaming Industry. PEST ANALYSIS A PEST (Political, Economic, Social and Technological) analysis is a major part of the environmental scanning section of strategic management and it is used by companies during market research and strategic analysis.
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