Marketing Plan for Sony - 3117 Words

Marketing Plan of Sony Company for the Next One and Three Years Name: Lecturer: Course: Institution: Date: Marketing Plan of Sony Company for the Next One and Three Years Introduction Sony Company is a Japanese multinational corporation. Masaru Ibuka and Akio Morita are the founders of the company, in late 1945. The corporation is headquartered in Tokyo, Japan. It is among the leading electronic products manufacturers for consumer products. The company manufactures varied consumer electronics, equipment for video communications, innovative cameras and information technology equipment. It is one of the leading digital entertainment brands globally. It offers customers a range of exciting multimedia content. In the next one and†¦show more content†¦This will help the company to deliver product and services that satisfy customers, hence increasing profitability. Marketing Objectives * The company would develop innovative products that meet the demanding needs of customers in order to increase sales. * They will focus on reinforcing the company’s cutting-edge technologies in the targeted region for maximum resource investments. * There is a need to strengthen frontline operations including designing areas, manufacturing equipment and sales offices in order to continue performing better. * The company will continue to maintain market leadership through increasing innovative electronic products that are of a high quality. * They would design products basing on the customer perspective, thus meeting the needs of customers. Marketing strategies The company would employ varied marketing strategies that they will use for the next one and three years. One of them is the pricing strategy, which is one of the essential marketing elements. Bearden, Netemeyer and Haws, (2011, p.63) point out that pricing strategy is one of the vital element of competing with competitors favorably. This is through setting the prices of products differently in order to differentiate the price from that of the competitors. Many companies use pricing strategy in setting the price above or below the equilibrium level in the market. For instance, theShow MoreRelatedSony Marketing Plan4304 Words   |  18 PagesSONY BRAVIA 3D HDTV  ® 2010 MARKETING AND PROMOTION PLAN ALLA ABRAMYCHEVA MICHAEL GUZMAN FARAN MAQSUD KEITH McMURDY ANDREW YAKOVLEV PREPARED FOR PROFESSOR DAVID DIAMOND MKT 9703 MARKETING MANAGEMENT CUNY BARUCH ZICKLIN SCHOOL OF BUSINESS 5/2010 TABLE OF CONTENTS SONY ADVANTAGE p.3 COMPANY AND PRODUCT PROFILE p.4 SWOT AND COMPETITOR ANALYSIS p.7 MARKETING PLAN OBJECTIVES p.10 CUSTOMER TARGETS AND SEGMENTS p.12 MARKET POSITIONING p.14 IMPLEMENTATION GUIDELINES p.16 PROMOTIONAL PLAN p.17 CONCLUSIONRead MoreSony Vaio Marketing Plan3281 Words   |  14 Pages 4.3 Social Factors: 5 4.4 Technological factors: 5 5.0 SWOT Analysis: 6 5.1 Strengths: 6 5.2 Weaknesses: 6 5.3 Opportunities: 7 5.4 Threats: 7 6.0 Marketing Strategy 7 6.1 Mission: 7 6.2 Marketing Objectives 8 6.3 The First year Objectives: 8 6.4 Target Market - Asian Market: 8 6.5 Positioning: 9 7.0 Marketing Mix: 9 7.1 Product: 9 7.2 Price: 10 7.3 Place: 10 7.4 Promotion: 11 7.5 Current Trend: 11 8.0 Financial Analysis: 12 9.0 Conclusion: 12 10.0 References:Read MoreSony Marketing Plan Essay example3423 Words   |  14 PagesThreats†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.9 Marketing Opportunity Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦10 Marketing Plan Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.11 Target Market†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦11 Competitive Benefits†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 Positioning Statement†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.12 Promotional Plan†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 Gaming Conferences†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.13 Online Promotion and Advertising†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦13 Beta Release for Critics†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦14 Product Marketing and Cost†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦14 Read MoreMarketing Plan- Sony Playstation 31992 Words   |  8 Pagesï » ¿ Marketing Plan Project: Sony Playstation 3 Planned Designed for (Present- End of 2013) MKTG-3103-01 Fall Semester 2012 Submitted to: Richard Brand FVSU Executive Summary This marketing plan is over the Sony Playstation 3 (PS3). The Playstation 3 is a six year old video game system, and one of the top 3 gaming consoles along with Nintendo’s Wii and Microsoft’s Xbox. Sony Table of Contents Introduction SituationalRead MoreMarketing Plan Phase 11325 Words   |  6 PagesRunning head: Marketing Plan – Phase I Paper Sony Electronics – SONO Stick University of Phoenix MKT/421 – Marketing Facilitator: Chris Ross April 23, 2007 Sony Electronics – SONO Stick Introduction The introduction of any new product can be and intense process for any company. The Sony organization is a large world wide corporation that since its inception has proven to work towards electronics innovation. The new product that Sony is reviewing is the Sono-stick and priorRead MoreThe Video Game Industry Essay1651 Words   |  7 PagesMicrosoft Xbox, and Sony Playstation. These three have been in war with each other the past ten years, and neither show signs of defeat. However the two leading competitors of high sales in the gaming industry are Microsoft Xbox and Sony Playstation. Both developers have been head to head on technological advancements and consumer marketing. Sony uses their advanced design of game console and their secrecy of their project to entice consumers. Microsoft however tries to direct their marketing strategy towardsRead MoreAnalysis Of Sony s Core Electronic Businesses Essay1609 Words   |  7 Pages1. Introduction: Sony was the world’s largest electronics company that brought innovation, style and high quality products in the electronics industry. As new innovations have arise, Sony was highly hesitant to adapt to the changes of what the people want and need. Environmental factors especially tsunamis, earthquakes, recession prevented its progression. (as cited in Kotler Armstong, 2014). The main focus of this report is about Sony’s core electronic businesses and provide useful recommendationsRead MoreSony Vaio Case Essay1368 Words   |  6 Pagescase study of: â€Å"Sony Targets Laptop Consumers in China† -By: Kellogg School of Management, Sachin Waikar PROBLEM DEFINITION BACKGROUND AND DATA ANALYSIS In China 74% of the people own a desktop and about half the population owns a laptop, considering that half of the country has broadband internet connection, and of the households that own a laptop almost 80% have internet at home, the market for laptop in China is very interesting for Sony. Howeve, in the past years, Sony has been facingRead MoreThe Approach Of Sony And Tesco Towards Marketing Techniques1386 Words   |  6 PagesIn this task, I will compare the approach of Sony and Tesco towards marketing techniques. Organisation Market penetration Market development Product development Diversification For many years, Tesco PLC has been using Market Penetration, Tesco sell the same product and services to the same market. Tesco have used market penetration to increase their market share; Tesco wanted to become the number one retailer brand in the UK and also to beat competition. To penetrate the market, Tesco has been usingRead MoreFinancial Requirements For Sony Music Entertainment814 Words   |  4 Pagesproviding a variety of label services, including new release set-up and planning, as well as radio promotion and marketing, to select Sony Music venture partners. RAL’s artist roster consists of Shaggy, The Chainsmokers, DJ Khaled, Bush, Karmin, Lyfe Jennings, Jordin Sparks, Keith Sweat, Aaron Carter, Babymetal to name a few. Goals Entrench RAL as a shared service division for of Sony Music Entertainment Create a steady stream of revenue from record sales, merchandising, licensing and live performances

Case Study Office Gossip. Do You Act on Rumor or Respect...

â€Å"Office Gossip. Do you act on rumor or respect privacy?† It was easy for me to make a choice in between the two cases. Gossip is much more palpitating for me, especially gossip about somebody’s private life. It is maybe due to my female nature or maybe due to different attitude towards this matter in my ex Soviet Union culture. After reading the case I felt myself completely in the same shoes with a manager. I respect his hesitation and the â€Å"softness† of his leadership style. I know I would feel the same way: totally confused. The particularly relevant details of the case, in my opinion, are pretty simple and, from the first glance, are quite obvious: rumors about one of the key salesperson’s love affair with a client, this†¦show more content†¦May be her family life came to a dead end, and new relationship is a new opportunity. May be her family members, especially children, will benefit from her good mood. Or, maybe, she is tormented with ultimate remorse. What is Lilly’s love affair really for her colleagues? Does it cause disgust, shame, and embarrassment because they are without any blot on their character? Do we judge her actions from ethical altruist or ethical egoist point of view? Thus, the consequences are going to be seen differently. â€Å"Nature has placed mankind under the governance of two sovereign masters, pain and pleasure. It is for them alone to point out what we ought to do, as well as to determine what we shall do. On the one hand the standard of right and wrong are fastened to their throne. They govern us in all we do, in all we say, in all we think...† â€Å"Finally, consequentialism is criticized on the ground that it gives little or no guidance to persons practical reasoning.† Speaking of reasoning, why has Lilly decided to get involved with another man? There is always a reason. In the relationship of two they are both and equally responsible for what is happening to their partnership. Her husband for sure has something to do with it. Do we have a right to know? Is itShow MoreRelatedBusiness Journalism in India26104 Words   |  105 PagesSEBI, Banking sector 3 The Budget preparation and presentation, factors influencing the annual budget, role of (5) subsidies and foreign exchange reserves 4 Companies, balance sheets, AGMs window dressing of balance sheets, the loopholes (the case of Satyam) (5) 5 Stock exchange, Sensex and its ups and downs, need for stricter monitoring, how to (5) cover Stock Exchanges, qualities of a good stock exchange reporter 6 Ethics for business journalism. Should it be a watch dog or servantRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesmechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458, or you may fax your request to 201-236-3290. Many of the designations by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and the publisher was aware of a trademark claim, theRead MoreFundamentals of Hrm263904 Words   |  1056 Pagestracking, and more manage time better study smarter save money From multiple study paths, to self-assessment, to a wealth of interactive visual and audio resources, WileyPLUS gives you everything you need to personalize the teaching and learning experience.  » F i n d o u t h ow t o M A K E I T YO U R S  » www.wileyplus.com ALL THE HELP, RESOURCES, AND PERSONAL SUPPORT YOU AND YOUR STUDENTS NEED! 2-Minute Tutorials and all of the resources you your students need to get started wwwRead MoreDeveloping Management Skills404131 Words   |  1617 Pagesmymanagementlab is an online assessment and preparation solution for courses in Principles of Management, Human Resources, Strategy, and Organizational Behavior that helps you actively study and prepare material for class. Chapter-by-chapter activities, including built-in pretests and posttests, focus on what you need to learn and to review in order to succeed. Visit www.mymanagementlab.com to learn more. DEVELOPING MANAGEMENT SKILLS EIGHTH EDITION David A. Whetten BRIGHAM YOUNG UNIVERSITY

Hispanic Immigrants Victims of Discrimination Free Essays

Running head: HISPANIC IMMIGRANTS Hispanic Immigrants: Victims of Discrimination Kathleen Juarbe-Gorgas Professor Dettmann October 21, 2010 United States is the land of immigrants or the land of white people? Based on the U. S. history when Christopher Columbus discovers America, the Europeans start immigrant for better opportunities. We will write a custom essay sample on Hispanic Immigrants: Victims of Discrimination or any similar topic only for you Order Now The Native Indians was the owner of this land but the European took it over. As a consequence of the slavery, people from other countries came to U. S. to work either voluntary or involuntary. As a result in today society we have all the diversity in ethnicity. However the immigrant get here, they have a common goal achieve the American dream. So, if this country has been build with immigrants why Americans discriminate against them? Immigration is a serious issue in U. S. because they’re many cases of illegal immigration. The society makes the American dream almost impossible to any immigrant but especially to the Hispanics. The Americans argue that the Hispanics immigrant come here to commit crimes. Rape, kidnapping, homicides, drug dealers and robbery are some of common crimes commit by Hispanics immigrants. A popular federal crime between illegal immigrants is identity theft. Identity theft is when somebody stole social security cards, birth certificates, identification cards, driver licenses and any other type of identification that can be misused or falsify. On occasion the anti-immigrants have horrible experiences with the illegal immigrant that make them discriminated against all. (Background on discrimination against immigrants, 2009) Also, the anti-immigrant protest that the immigrant stole the Americans works for a less pay. The American thinks that Hispanic immigrants are all the same; they’re illegal and come to this country to commit crimes. But the Hispanic immigrants come to this country to achieve the American dream. Most of the time they move to U. S. to have better opportunities because in their country is impossible emerge from the poverty. The thought of any Hispanic immigrant is to have a better job to provide the family, give a better education to their children and if possible pay the college tuition. But also achieve the biggest challenge in this country, the English language. The Hispanic immigrant has the brave to overcome any barrier and come here without knowing the language, the culture or sometimes have any relative and start from the bottom until achieve the goals. (Background on discrimination against immigrants, 2009) The fact of being immigrant is enough for discrimination at the point to commit a crime? A hate crime that shocked the Hispanic community was the homicide of Luis Ramirez. An illegal immigrant who resided in Shenandoah, Pennsylvania; he was victim of a death beating from group of Caucasian teenagers. Another case of hate against Latinos happened five months after Ramirez death in Long Island, NY. Marcelo Lucero was fatal beaten by teenager just for being Latino. (Raul, 2010) Those are examples of the influences of discrimination in the United States society. The hate crimes have been practice in all 50 states from people who are racist. Instead of helping our community, those crimes are making worst. The discrimination is like a genetic disease that is produce from the racism which goes from generation to generation. The anti-immigrants believe that the white race is superior to any other race. They practice discrimination against immigrant. They are repeating the history when the African-Americans were prosecuted because they were blacks. The anti-immigrant has movements such as Federation for American Immigration Reform (FAIR) who are opposed to any kind of immigration reform. Certain way the only responsible of immigration issues in United States are the colonizers because they bring the slave from other countries to do the hard work. Instead to be prejudices and racism against the immigrant and blame on them; the anti-immigrant should read and comprehensive the U. S. history to stop the discrimination. References Background on discrimination against immigrants. (2009). Retrieved August 30, 2010, from Do Something: www. dosomething. org National Council of La Raza. (2010). Hate Flashpoints. Retrieved August 30, 2010, from We Can Stop The Hate: www. wecanstopthehate. org Raul, R. (2010, January 22). Justice gets tough on hate crimes . Retrieved October 20, 2010, from EbscoHost: www. ebscohost. com How to cite Hispanic Immigrants: Victims of Discrimination, Essay examples

Woolworths Limited and Criticisms From Public

Question: Discuss about the Woolworths Limited and Criticisms From Public. Answer: Introduction Corporate Governance is a set of rules and regulations basis which a company is directed to perform and is controlled as well. Basically it is concerned with maintenance of a balance of interest between the various stake holders of a company such as the shareholders, creditors, employees, the government regulators as well as the society as a whole. The economic condition in todays world is such that adherence to these corporate regulatory requirements and governance is of utmost importance. Lack of adequate governance has led to bankruptcies such as that of One Tel, Lehman Brothers and many more. But it is also to be understood that corporate governance policies once formulated needs timely review as well so as to ensure its effectiveness. Increasing globalisation and its importance has posed a challenge for these regulators. Australian companies are looking ahead to expand globally but at the same time maintaining their Australian identity. Globalisation is good for the economy of Australia but at the same time adequate corporate governance too which are ruled by a range of regulatory authorities such as the Australian Securities Exchange (ASX), the Australian Prudential Regulation Authority (APRA), the Australian Securities and Investment Commission (ASIC). However the same is mixed with the other intended requirements which form the corporate governance in Australia. The said paper talks about how Woolworths Limited has been performing in the recent past, highlighting upon the governance protocols and practices it has been following. Further the areas where the Company has succeeded and similarly the areas where it has failed in its Corporate Governance practices. About Woolworths Limited The said company is listed in the ASX and is a leading business entity engaged in the food and beverage industry which also produces liquor. It is into retail business and is ranked as number two after Wesfarmers. It is known under the brand name Woolworths in Australia and Countdown in New Zealand. The companys current years performance was not so promising wherein it reported a loss of $1.235 billion for the financial year 2016. This is the biggest ever loss reported in two decades since the Company became a part of the ASX. The main reason behind the same was that it had to write down more than $2 billion due to a failure in the Masters Business and losses it suffered in the Big W business (Australian Food News, 2015). Woolworths Limited is a multi-faceted organization and its recent loss is eye catching for everybody, all its investors and the stake holders. So much that hundreds of employees have lost their jobs Although corporate governance has always been the most important stance of the company i.e. to ensure that the shareholders wealth is maximised and their funds are not misappropriated. It ensures that its board of directors act in the most ethical manner and perform their duties in the best interest of the company. As per the governance framework of the Company, the entire board is elected by the shareholders but for the CEO and the Managing Director. The board of directors main role was to ensure that the performance of the various businesses is done as per the policies and strategies. The decisions of the CEO are approved by the Board. Further it also states that the CEO is responsible the conduct of the daily operations of the company in accordance with ethical standards which involves ensuring a transparent attitude towards the employees. Criticisms Faced by Woolworths Limited Current years performance of the Company made it face various criticisms. It clearly shows that what it states in the Corporate Governance Statement and what it delivers are contrasting by nature. The failure of Masters was a big hit over the corporate governance which the Company used to follow. The year 2009 was the one when the Board was over-confident and certain egotism had pervaded into the higher echelons of the company, they ended up investing in Masters (Swan, 2016). Since then, the said segment of the Company has never made profits out of the same yet continued with the said business for five long years until the losses soared up to $500 million. This is an example of bad governance by the Board who did not pay heed to the loss that the said venture is incurring on a year on year basis and putting in a pressure on the top line of the Company (McConnell, 2016). Further the Board did not even take initiatives to improvise on the said business so as to turn the said project pr ofitable. It worked in a manner which would never entail benefits to the Company i.e. it tried to copy the market that exists in United States in Australia without understanding the demands of the citizens of Australia. The Company took too long to understand that the decision taken by the then Chairman was a mistake. Without paying heed to the value of the shareholders wealth and in order to give a big competition to Bunnings part of Wesfarmers business, the Company ended up losing a lot of the shareholders wealth. The Board in order to concentrate its efforts towards Masters, ended up ignoring the profitability of the entire group i.e. failed to concentrate upon its core business of food and beverages. This is where the company lacked in performing its duties of corporate governance (legalvision.com, 2016). They failed to perform one of the most important objective i.e. enhancement of the shareholder value along with ensuring that the activities of the Group are managed efficiently. Although the corporate governance statement pronounced by the Company states the Risk Management Policy and Framework yet the same was not followed in the said case. The risk management teams main objective was to conduct a timely assessment of the various businesses in which the Company is involved, especially the loss making wings and analyse as to how it was impacting the companys overall strategies and performance. Its objective also includes safeguarding of Companys assets as well. However it failed to deliver in case of Masters and did not exemplify the impact it was making on the overall performance of the Company so much that it had to report a loss breaking the record of past twenty years. The 2009 Board was so stubborn that the Company well knew that there was a high barrier to the entry in this segment due to dominance of Bunnings yet it kept on insisting due to which there costs increased (Pash, 2016). However the previous Board did not deter from its decision and tried to prove to the stakeholders that their decision was right. In order to prove the same they ended up compromising upon the main motto of the Company. When the new Chairman was ultimately appointed and the composition of the Board was altered, it is then that there was a revolution bought to the strategizing of the business of Woolworths Limited. Unfortunately, even at present the Company has not been able to get away from the directors who were a part such a disastrous decision. One of the main persuader of the said expansion of hardware was the then director of business development Grant O Brien. He was the one responsible for the roll out of the same who failed to even understand the market demand of Australia (Evans, 2016). However after two years of acquiring Masters, he became the chief executive of the entire Woolworths. His sudden approach of increasing its profitability margins was not taken in the right stride by the customers and they chose to leave Woolworths and shop elsewhere. However he is still the chief executive while a replacement is being searched for. The most shocking was that the Company ended up experimenting for five long years with the wealth of outsiders who believed in the Company and its performances. Further the corporate governance protocols define the members of the board to act in a trustworthy manner but they ended up breaking the same. Another criticism which the Company faced with regards the said failure was the lack of a good work culture. The competitor had a more open ended structure whereas Woolworths Masters structure was close ended wherein the policy had in clear terms stated all staff were to park tail-in to the kerb (Stewart, 2016). The Company failed to involve its customers too. The most obvious reason for such a failure was lack of adequate strategy and thought before implementing any decision. The Board behaved immaturely so much that it ended up buying lands so that the competitor Bunnings would not open up newer stores and frustrate the same. The said approach in itself was very childish not expected to be taken by the Board of a company like Woolworths (Murphy, 2015). Further the kind of stores it opened made people believe that its products would be expensive and hence they stuck to their old stores. Another highly unexpected step taken by the Company was that in order to uphold the Masters Business, Woolworths ended up compromising on their main business of supermarket chains which protected the margins of the company so as to neutralise the impact of the losses it suffered due to Masters (Bartholomeusz, 2016). This was again a decision extremely criticised by the shareholders and the investors as the same led the Wesfarmers and the Coles to gain momentum in the race. Another example of bad corporate governance followed by the management of Woolworths Limited was with regards Big Ws turnaround strategy. Employees of a concern are also the responsibility of the management and they have to ensure to maintain a balance of interest with them and the society as a whole (Thumm, 2016). However it failed to do and did not maintain the required level of transparency and ethical behaviour with them. According to the Australian Financial Review, Big W has handled its severances improperly and that its employees were unaware of the swivel strategies of the Company. The Board has been performing in a manner which is highly unacceptable as per the general practices of code of conduct of business. Without giving any prior or satisfactory justifications it has rolled back its purchase contracts thus hauling the long term suppliers with huge stock. Thus this move hampered the reputation as well. Although the Company officials and the management has full rights to take decisions for the well being of the group but the same should be in accordance with certain policies and protocols which it has laid down in its Corporate Governance Statement(ONeill, 2016). But unfortunately it is being criticised of working out of the policy document thus hurting the sentiments of its various stakeholders such as the investors, employees, suppliers and the community it serves as a whole. Current Measures Taken Presently the Company has promised to introduce a new operating model so as to enable the Company come out of the rags by focussing mainly on the core business of super market and liquor retailing. It has also decided to strengthen the corporate governance structure which was the main reason behind the tragic fall and losses it suffered from years. The Ezibuy has been divorced from Big W and all efforts for selling the former is being made. BIG W, ALH and Quantium all are to have separate governance with better transparency so as to achieve the highest values to the investors and the other stakeholders. Bradford Banducci, the new CEO of the Company has made many promises and all his efforts are steered towards regaining the lost power and reputation of the Company. The confidence that the investors had lost in the Company would be regained once the new board proves itself to be working for the benefit of the Company and not for personal interest. He is the man behind making Dan Murphy the leading liquor store of Australia and is the one of the fewer investments made by the Company which is running into profits (Woolworthsgroup.com, 2016). He is into the continuous task of rebuilding the worth of Woolworths. Conclusion On summarising the performance of Woolsworth Limited it is understood why the public has been criticising its business performance off late. The mistake the Company had done in the year 2009 yielded very disheartening results leading to breaking of trust of customers, staff as well as the investors. Ego coupled with over confidence led to the disruption of the outperforming company. In order to hide ones own faults the then Board ended up sacrificing the leading supermarket retail business chain of Woolworths as well. The Australian government and the regulators should strengthen their policies to such an extent so as to ensure that mandatory checks and regulatory audits are conducted so as to ensure that the decisions of the Boards are also reviewed. Unfortunately the officials had forgotten that even though they are sitting at the helm, yet they are not the owners of the Company and they owe a sense of responsibility towards the stakeholders. The new CEO, although seems to be promi sing yet the same cannot be construed so early whether he would be able to pull Woolworths out of the drain. References: Australian Food News, (2015), Concerns about trends in Woolworths results, Available at https://www.ausfoodnews.com.au/2015/03/02/concerns-about-trends-in-woolworths-results.html (Accessed 26th November 2016) Bartholomeusz, S., (2016), End of Woolies Masters Disaster, The Weekend Australian [Online], Available at https://www.theaustralian.com.au/business/opinion/stephen-bartholomeusz/end-of-woolies-masters-disaster/news-story/0c66eb3b3c504b2efd8e03aa9db5c15d (Accessed 26th November 2016) Evans, S., (2016), What went wrong at Woolworths Masters,The Sydney Morning Herald [Online], Available at https://www.smh.com.au/business/retail/what-went-wrong-at-woolworths-masters-20160118-gm8fge.html (Accessed 26th November 2016) Legalvision.com, (2016), Masters Closure : Why It Failed and What Next, Available at https://legalvision.com.au/masters-closure-why-it-failed-and-what-next/ (Accessed 26th November 2016) Murphy,J., (2015), Masters in the screw up that could hammer Woolsworth and the rest of us, Available at https://www.news.com.au/finance/business/retail/masters-is-the-screw-up-that-could-hammer-woolworths--and-the-rest-of-us/news-story/ed95848f906b7eeb3399f8378784e3eb (Accessed 26th November 2016) McConnell, P., (2016), Masters- A Failure of Corporate Governance, Available at https://www.smartcompany.com.au/finance/49655-masters-a-failure-of-corporate-governance/ (Accessed 26th November 2016) ONeill, S., (2016), Why the Woolworths Limited share price is going nuts today?, Available at https://www.fool.com.au/2016/07/25/why-the-woolworths-limited-share-price-is-going-nuts-on-better-grocery-performance/ (Accessed 26th November 2016) Pash, C., (2016), Why The Masters Hardware Business Failed, Available at https://www.lifehacker.com.au/2016/08/why-the-masters-hardware-business-failed/ (Accessed 26th November 2016) Raszkiewicz, O., (2015), 3 key takeaways from Woolsworth Limiteds annual report, Available at https://www.fool.com.au/2015/08/28/3-key-takeaways-from-woolworths-limiteds-annual-report/ (Accessed 26th November 2016) Stewart, E., (2016), Masters: Five reasons Woolworths is pulling the plug on struggling hardware chain, Available at https://www.abc.net.au/news/2015-05-06/five-reasons-woolworths-is-being-hammered-on-hardware/6450364 (Accessed 26th November 2016) Swan, P., (2016), Experienced shareholders better than independent directors for business, Available at https://newsroom.unsw.edu.au/news/business-law/experienced-shareholders-better-independent-directors-business (Accessed 26th November 2016) Thumm, J., (2016), Big Ws Awkward Turnaround Strategy, Available at https://www.powerretail.com.au/news/big-w-strategy/ (Accessed 26th November 2016) Woolworthsgroup.com., (2016), 2016 Annual Report, Available at https://www.woolworthsgroup.com.au/icms_docs/185865_annual-report-2016.pdf, (Accessed 26th November 2016)