The Sarbanes Oxley Act ( Act ) Essay - 1432 Words

The Sarbanes Oxley Act is an act passed by the United States Congress to protect investors from the possibility of fraudulent accounting activities by corporation. The Sarbanes Oxley Act has strict reforms to improve financial disclosures from corporations and accounting fraud. The acts goals are designed to ensure that publicly traded corporations document what financial controls they are using and they are certified in doing so. The Sarbanes Oxley Act sets the highest level and most general requirements but it imposes the possibility of criminal penalties for corporate financial officers. The Sarbanes Oxley Act sets provisions that are used throughout numerous amounts of corporations. It holds companies to a larger responsibility and a higher standard with accounting principles and the accuracy of financial statements. The Securities Act of 1933 regulated the securities and the accounting standards before the Sarbanes Oxley Act was passed. Under the Securities Act, corporations and their investments bank were legally responsible for telling the truth and making sure the financial statements were audited correctly. Although corporations were responsible, the CEOs were not which was meant it was hard to prosecute them for fraud. The Sarbanes-Oxley Act was enacted in response to a series of high profile financial scandals that occurred in the early 2000s at companies including Enron, WorldCom, and Tyco that rattled investor confidence. The Sarbanes Oxley Act was named afterShow MoreRelatedSarbanes Oxley Act1322 Words   |  6 PagesSarbanes-Oxley Act The Sarbanes-Oxley is a U.S. federal law that has generated much controversy, and involved the response to the financial scandals of some large corporations such as Enron, Tyco International, WorldCom and Peregrine Systems. These scandals brought down the public confidence in auditing and accounting firms. The law is named after Senator Paul Sarbanes Democratic Party and GOP Congressman Michael G. Oxley. It was passed by large majorities in both Congress and the Senate and coversRead MoreAnalysis of the Sarbanes-Oxley Act3143 Words   |  13 PagesAnalysis of the Sarbanes-Oxley Act Abstract The Sarbanes-Oxley Act (SOX) was enacted in July 30, 2002, by Congress to protect shareholders and the general public from fraudulent corporate practices and accounting errors and to maintain auditor independence.    In protecting the shareholders and the general public the SOX Act is intended to improve the transparency of the financial reporting.    Financial reports are to be certified by the Chief Executive Officer (CEO) and Chief Financial OfficerRead MoreEssay on The Sarbanes-Oxley Act852 Words   |  4 Pagestoday that are using the Sarbanes-Oxley (SOX) legislation that helps to safeguard their company and their financial records. The Sarbanes-Oxley act began in 2002 and the purpose behind this act was to protect organizations, it had a major impact on accounting and record keeping. Because of Enron, they passed this act for publicly-traded corporations to better implement control to their enterprise data. â€Å"Named after Senator Paul Sarbanes and Representative Mic hael Oxley, who also set a number ofRead MoreSarbanes Oxley Act and the PCAOB Essay1661 Words   |  7 PagesThe Sarbanes-Oxley Act Overview: The development of the Sarbanes-Oxley Act (SOX) was a result of public company scandals. The Enron and Worldcom scandals, for example, helped investor confidence in entities traded on the public markets weaken during 2001 and 2002. Congress was quick to respond to the political crisis and enacted the Sarbanes-Oxley Act of 2002, which was signed into law by President Bush on July 30 (Edward Jones, 1), to restore investor confidence. In reference to SOX, penaltiesRead MoreSarbanes-Oxley Act Research Paper1097 Words   |  5 PagesSarbanes-Oxley Act of 2002 Karla Azcue ACC 120-09 Mr. Donald Senior The Sarbanes-Oxley Act of 2002 is one of the most important legislations passed in the 21st century effecting financial practice and corporate governance. This act was passed on July 30, 2002 thanks to Representative Michael Oxley a republican from Ohio and Senator Paul Sarbanes a democrat from Maryland. They both passed two different bills that pertain to the same problem which had to do with corporations auditing accountabilityRead MoreSarbanes Oxley Act of 2002 Essay1294 Words   |  6 PagesSarbanes-Oxley Act of 2002 ACC/561 Sarbanes-Oxley Act of 2002 Following a number of discovered fraud scandals committed by well-known corporations and in order to restore public confidence in the stock market and trading of securities, the United States congress passed the Sarbanes-Oxley Act in the year 2002. As a result of the act endorsement by the New York Stock Exchange and the Securities and Exchange Commission, among many other national overseeing committees, a number of rules and regulationsRead MoreSarbanes Oxley Act Research Paper1787 Words   |  8 Pagesï » ¿Sarbanes Oxley Act Research Project Brielle Lewis MBA 315 March 6, 2014 I. Abstract The purpose of the Sarbanes-Oxley Act is to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities law, and for other purposes. (Lander, 2004) The Act created new standards for public companies and accounting firms to abide by. After multiple business failures due to fraudulent activities and embezzlement at companies such as Enron Sarbanes andRead MoreSarbanes-Oxley Act (SOX) Essays1756 Words   |  8 PagesIntroduction In July of 2002, Congress swiftly passed the Public Company Accounting Reform and Investors Protection Act at the time when corporations like Arthur Anderson, Enron and WorldCom fell due to fraudulent accounting practices and bad internal control. This bill, sponsored by Mike Oxley (R-OH) and Paul Sarbanes (D-MD), became known as Sarbanes-Oxley Act (SOX).It sought to restore public confidence in publicly traded companies and their accounting practices, though the companies listed aboveRead MoreEssay on Benefits of the Sarbanes Oxley Act893 Words   |  4 Pagesproblems for the company and its investors down the road. The Sarbanes Oxley Act of 2002 is what enforces such internal controls of companies. This Act requires all United States companies to follow internal control guidelines and standards. Many argue that the egregious scandals such as Enron, Tyco and WorldCom gave Congress the impetus to pass such an act that has strict consequences if bypassed. Violators of the Sarbanes Oxley Act of 2002 (SOX) can be subject to large fines and even imprisonmentRead MoreThe Implications of the Sarbanes Oxley Act on the Accounting Profession755 Words   |  4 PagesThe Implications of the Sarbanes Oxley Act on the Accounting Profession Abstract On July 30, 2002, the Sarbanes Oxley Act (also known as SOX) was signed into law by President George W. Bush. The Sarbanes Oxley Act of 2002 is a federal law that set new or improved standards for all U.S. public company boards, management and public accounting firms. Covered in the eleven titles are additional corporate board responsibilities, auditing requirements and criminal penalties. This

The Right Side of History - 2361 Words

Unrest in the Arab World Will the United States be on the right side of history? The Right Side of History? The wave of demonstrations, uprisings and revolutions in North Africa and the Middle East has presented the United States with a complex set of diplomatic problems. While a key component of U.S. foreign policy is promoting and supporting democracy, it is vital to U.S. interests that the Middle East remains relatively stable. A truly democratic Arab world is a new concept, and is one that has yet to show its true colors. If the result of the Palestinian Authority legislative elections held in January of 2006 is any indication of what may evolve in the region, the U.S. has plenty of cause for concern. The elections,†¦show more content†¦Shortly after the protests began in Tunisia, a wave of protests and demonstrations swept over the Arab world, from Algeria to Yemen, with few countries being exempt from the movement. Leaders of wealthier countries, such as Saudi Arabia, Oman and Bahrain, offered economic concessions to stave off unrest. Other l eaders offered minor political concessions. Yet the protests continue. The Egyptian Revolution, which began with protests on January 25, 2011 and lasted for 18 days, became a media sensation watched worldwide. Not only conventional media, but social media as well. Social media played an unprecedented and important role in Egypt, changing the face of revolutions forever. Unlike Tunisia, a marginal actor in the region, Egypt is the most populous, and one could argue, the most important country in the Middle East, at least in terms of maintaining stability. The U.S., which had backed the Egyptian government militarily since 1979 and had friendly relations with Mubarak, was faced with tough diplomatic decisions. Many foreign relations experts agree that the Obama Administration did a reasonable job handling the tricky situation. Once Mubarak stepped down, without the major bloodshed that would have occurred if the military had attack its own people, the U.S. appeared to have been on â€Å"the rightShow MoreRelatedThe Right Side Of History : The Civil Rights Movement1228 Words   |  5 PagesOn the Right Side of History: The Civil Rights Movement Open for interpretation, freedom is one of the most resonating and powerful words to Americans. The word ‘freedom’ has been utilized as a tool for social justice; however, due to its versatility, it may also be used as a weapon of destruction. When history is examined, it is often true that one man’s ‘freedom’ is another man’s oppression. Systematic institutionalization of the ideology that race was anything more than a social construct helpedRead MoreThe Right Side Of History An Anthology Written By Adrian Brooks1881 Words   |  8 PagesJim Mcgreevey, the first homosexual governor. 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This paper will analyze the social histories, national histories, and religious histories present in Haozous’ â€Å"The Cultural Crossroads of the Americas† in order to evaluate its effectiveness in conveying a past-present dialectic. Social histories â€Å"focus on everydayRead MoreWhat Is Our Hope For The Future914 Words   |  4 PagesAmerican History: Our Hope for the Future Those who cannot remember the past are condemned to repeat it. That’s a statement that we’ve all pobably heard before. It is true that american history can give us hope for the future while it can also bring to light pessimism and concern us. While there is many horrible things happening in the world today, I think we can all look towards the dark with hope. 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In the presence of conflict, narratives differ and multiply to delegitimize the opponent and to justify one’s own action. Narratives shape social knowledge. The Israeli Palestinian conflict, both Jews and Muslims, view the importance of holding the territories through religious, ideological, and security lenses, based on belief that Palestine was given by divine providenceRead MoreEssay Morality And Power930 Words   |  4 Pages nbsp;nbsp;nbsp;nbsp;nbsp;Thucydides’ written history of the Mytilenian Debate and the Melian Dialogue reflects the reality of a period where morality is dependent on the exercise of power and those who possess it. The main theme running through the course of these two debates is that those with the power to act as they wish inherently have the power to dictate morality. The arguments that decide the fate of the Mytilene are made not strictly on the basis of morality but on how their powerRead MoreRubiks Cube Essay1445 Words   |  6 Pagesdamn it wish I could complete the hold thing and not just on side or finish without sticker peeling. C. In time of boredom or just a mind opener its nice to baffle your continuesly with speed trials, always trying to beat the time before. D. Within this informative speech I hope to open your eyes to the least complicated puzzle that was developed in the late 70’s early 80’s E. 1. Today I will give you a brief history on the cube. 2, Then I will explain what a algorithmsRead MoreUs History Before 1877 Essay886 Words   |  4 Pagesis open and where you found the information. (2 points) I went to sfccmo.edu in my safari browser. Then I clicked on the â€Å"Resource’s for† tab. Next I clicked on the â€Å"Proctor Library† tab. Then I scrolled down and the hours are posted on the far left side of the page. 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Understanding of the Concepts of Demand & Supply Model & Elasticity

Question 1- The market system is said to be based on "self-interest". Illustrate and explain what you understand by this statement? Answer - The market system and the self-interest: The market economy is said to be an economy where the individuals are the owners of the capital, land and labour. In the market economy two important factors play a great role and those are, competition and he self-interest. The self-interest is said to be the interest through which the economy is able to obtain the best benefits related to the economy. According to the view Adam Smith, the economy can be benefitted through the self-interest without having any kind of plan for creating the goods and services and the self-interest on the other hand provide benefits to both the consumers and to the producers (Koppl, 2004). There are probably various reasons are present for doing a particular work or producing something for the economy but, the main reason for producing something or doing a particular work is the self-interest of the people. The majority of the economic activities which are observed in the society are done mainly due to the reason of self-interest. Self-interest is not the benevolence of the producer that the producer is producing goods for us but, it is the producers self-interest for which the people are getting the produced products. Seeking the goals is known as the self-interest in the economy and it can be said that the entire market system depends on the self-interest (Cassidy, 2009). Question 2- State what happens to The demand, supply and equilibrium price and quantity? Answer - The demand, supply and equilibrium a. The wheat market In case, the demand for wheat is increased in the market then the demand curve for wheat will be shifted towards the rightward condition. In this case, the overall demand for wheat has been increased and here the quantity demand for wheat is not considered. The overall market demand for wheat has increased and thus the demand curve will shift towards rightward direction. Fig: The shift of demand Source: Author From, the above diagram it can be stated that the initial point of equilibrium was at E0 and the initial price level in the market was P0. The aggregate supply curve ss, cuts the aggregate demand curve dd, in the same equilibrium point which is E0. The market has observed a demand rise and thus the demand curve will be shifted from dd to dd1. The shifted demand curve can produce higher level quantity and thus the price level will be increased in the short run. The new equilibrium is situated at point E1. In the new equilibrium point the quantity demand will be Q1 and the price level will be P1 (Carl, 2012). b. The wool market The wool market has no direct connection with the market of wheat and thus the increase in the demand of the wheat market will not affect the market of wool. The equilibrium price and quantity in the wool market will be remained same even after the changes in demand in the wheat market (Norman, Thisse and Phlips, 2000). Source: Author The equilibrium price and quantity will be similar even after the increase in the demand of wheat and thus the price and quantity are P and Q. c. The market of tractor and the machineries for farm The market of tractors and the machineries for farm will be required more and thus the supply for these two products will increase when the demand for the wheat will increase. From, the figure it is seen that in the initial equilibrium position the price is p0 and the quantity demand is q0. When the demand for wheat increases the supply for the tractors and the farm machineries will also increase and thus there will be a rightward shift of the supply curve. The rightward shift in the supply curve will provide a new equilibrium where the equilibrium price level will be p1 and the equilibrium quantity level will be q1. d. The car market The car market is a luxury market and the demand of wheat would not affect a lot to the car market and the consumers take prolonged time while taking the decision regarding the purchase of car. Source: Author The car market equilibrium will be remained in the same position even after the rise in the wheat demand. Question 3- Show how a knowledge of price elasticity of demand can be use? Answer - Price elasticity of demand is used in various ways by the business firms and the government bodies which are explained below with example: i. usage of price elasticity by business firms The business firms can use the concept of price elastic of demand because; the response towards price change of each commodity is not same in the market. While increasing the revenue of the firm can increase the price of the products and especially, before increasing the price of the products the business firms need to do market research regarding the nature of demand of each product in the product mix (Klein, 1983). The business firms can raise the price of those products which are price inelastic in nature. For example, the necessary goods or the goods which possess high brand value are relatively inelastic in nature. Price inelastic refers that, the in responsiveness of the demand of the product due to the change in price. The business firms together can raise the price of necessary food grains for an example if the government intervention will not be there. Source: Author From, the above figure it is observed that for the products which are relatively price inelastic in nature do not respond well towards the changes in the prices. An increase in the huge amount of prices from p0 to p1 leads a reduction of small amount of quantity from q0 to q1(Norman, etal, 2000). ii. Government while formulation of the policies The objectives of the government for framing the policies are to secure the social welfare and also to enlarge the revenues by collecting taxes. Government generally imposes the taxes on the luxury items and reduces the taxes for the necessary items. The necessary goods are the compulsion consumption for the mass and to secure the social welfare the government must protect the households by reducing taxes on the necessities (Tellis, 1988). For the luxury consumption as the consumption is purely price elastic in nature and the consumers can consume those items when they have excess money in hand, the government earns revenue by imposing higher amount of taxes. Fig: price elasticity Source: Author For example, the consumption of the luxury watches is the subject to tax imposition by the government and the consumption of the watches is the price elastic in nature. From, the above figure it is understood that the small increase in price of the watches has lead to high decrease in consumption from q1 to q0 (Tellis, 1988). Reference Cassidy, J. (2009). How markets fail. New York: Farrar, Straus and Giroux. Koppl, R. (2004). Evolutionary psychology and economic theory. Amsterdam: Elsevier JAI. Carl, S. (2012). Market Structure. Delhi: Orange Apple. Norman, G., Thisse, J. and Phlips, L. (2000). Market structure and competition policy. Oxford, UK: Cambridge University Press. Klein, L. (1983). The economics of supply and demand. Baltimore, Md.: Johns Hopkins University Press. Norman, G., Thisse, J. and Phlips, L. (2000). Market structure and competition policy. Oxford, UK: Cambridge University Press. Tellis, G. (1988). The price elasticity of selective demand. Cambridge, MA: Marketing Science Institute. Ayers, J. and Odegaard, M. (2008).Retail supply chain management. Boca Raton, FL: Auerbach Publications. Daly, A. and Gale, H. (1974).Elasticity of demand for public transport. [Reading]: Local Government Operational Research Unit, Royal Institute of Public Administration. Dreessen, E. (1972).Elasticity of demand for labor. Lewis, P. (1998).The elasticity of demand for labour. Murdoch, W.A.: Murdoch University. Centre for Labour Market Research. Lydall, H. (1998).A critique of orthodox economics. New York: St. Martin's Press. Mizen, P. (1994).Buffer stock models and the demand for money. Basingstoke, Hampshire: Macmillan. Ringel, J. (2002).The elasticity of demand for health care. Santa Monica, Calif.: RAND. Sharples, J. (1982).The short-run elasticity of demand for U.S. wheat exports. [Washington, D.C.?]: Trade Policy Branch, International Economics Division, Economic Research Service, U.S. Dept. of Agriculture in cooperation with Dept. of Agricultural Economics, Purdue University.

The Sucessful Factors of Toshiba Essay Example For Students

The Sucessful Factors of Toshiba Essay TABLE OF CONTENT 1. Executive summary2 2. Company Background2 3. Crirical Success Factor’s Analyses of Toshiba5 3. 1. An innovative and talent Chiel Executive Officer5 3. 2. Business Strategies6 3. 3. Bring â€Å"Innovation† to customer10 3. 4. Diversity of products11 3. 5. Market Position12 4. Insight13 5. Conclusion14 6. References15 1. Executive summary Electronic products have the long history together with human’s daily activities. At the beginning with the basic products such as: bulb, radio, television, washing machine, refrigerator †¦ the life standard was shifted to a new level. After that, the first personal laptop was produced in 1985; it set a basic step for the developing of high technological products. Gradually, getting together with the developing of economies, the human’s demand about hight technological products is getting larger so there are so many companies founded to satisfy these demands. Some of current famous companies are Samsung, LG, Sony, Toshiba †¦ Today electronic industry has become well-built and it has offered a broad portfolio of products in the global economy, in many countries with many kinds of goods to serve diversified consumer’s demands. We will write a custom essay on The Sucessful Factors of Toshiba specifically for you for only $16.38 $13.9/page Order now Nowadays, the long-standing history combines with the right strategies of the managements; Toshiba is the 8th Most Admired Electronics Company for 2009. In this assignment, firstly, I will give information about the background of Toshiba. Then, I will analyze factors that contribute to Toshiba’s success such as Talented Chief Executive Officer, Business Strategies, Leading Innovation, Diversity of Products and Significant Market Position. In the conclusion, I would like to give my insights about the reasons make Toshiba successful. 2. Introduction Toshiba Corporation is one of Japans oldest and largest producers of consumer and industrial electric products in the world. Toshiba was founded by the merging of two companies in 1939. The first company, Tanaka Seizosho (Tanaka Engineering Works) was established inventors in 1875 by Hisashige Tanaka who was one of Japan’s greatest and he was known as a genius of mechanical wonder. This company also was Japans first manufacturer of telegraphic equipment. In 1904, its name was changed to Shibaura Seisakusho (Shibaura Engineering Works). During beginning of 20th century Shibaura Engineering Works became a major manufacturer of heavy electrical machinery and had a world industrial power. The second company, Hakunetsusha, was established in 1890 and was Japans first producer of incandescent electric lamps. It diversified into the manufacture of other consumer products and in 1899 was renamed Tokyo Electric. From 1940 to 1975 During this period, Toshiba brought a lot of â€Å"first† for the world. They manufactured Japan’s first fluorescent lamps in 1940 and completed Japan’s first radars in 1942. Then, Toshiba completed Japan’s first TV broadcast transmitters and microwave relay systems for television in 1952. In 1954, Toshiba developed the digital computer which will be the firt step to take Toshiba’s involvement in the personal computer industry. Toshiba later brought entertainment to a new level with the introduction of Japan’s first transistorized televisions. In 1970, Toshiba introduced the world’s first color video phone and the world’s first expanded IC color TV the year later. In 1975, the company celebrated its first 100 years. From 1976 to 1990 Toshiba launched the first Japanese word processor in 1978, in the same year they formally confirmed â€Å"Toshiba Corporation† as its official name. The company once again introduced several innovative products in different fields including the introduction of the world’s first laptop personal computers in 1985 that brought the computing world into a new age. From 1991 to 2000 In 1995, Toshiba introduced the sub-notebook personal computers and developed the DVD format high-density optical disk. The format soon became standardized and Toshiba released the first of its DVD-ROM Optical storage devices. From 2001 to 2008 Toshiba commercialized the first HDD and DVD video recorders which became an excellent multimedia experience for home, business and personal users. In collaboration with SanDisk, Toshiba developed the 8-gigabit flash memory chip. Sales in 2007 went up to a number of 60 million notebook PCs. In 2008, Toshiba dropped its HD DVD format in favor of the Blu-ray Disc devices and formalized intentions to release dependent players as well as Blu-ray drives for PCs and notebooks bringing multimedia experience to a new level. 2009 and Beyond In January of 2009, Toshiba acquired the HDD business of Fujitsu so they extended its computer business. Toshiba continued to strive to design and develop new and innovative products and technologies in the purpose of making people’s lives more convenient and enjoyable. Nowadays, under Chairman of the Boards of Director Atsutoshi Nishida, Toshiba has become a brand name that most people are familiar with. Even among its strong competitors, Toshiba still holds a strong influence in the ever-evolving industry, leading its peers in the world of electronic innovations. Toshiba was ranked by Fortune Magazine as the 8th Most Admired Electronics Company for 2009 and one of the Top 100 Global Companies for 2008; Toshiba’s annual revenues exceed $76 billion. This cooperation is also a world leader in high technology, a diversified manufacturer and marketer of 4 main business segments which are Digital Products, Electronic Devices Components, Social Infrastructure Systems and Household Appliances. 3. Critical Successful Factors 3. 1 An innovative and talented Chiel Executive Officer – Atsutoshi Nishida Atsutoshi Nishida was born in 1943. In 1968, he graduated from Waseda University with Political Science and Economics major. Then, he jointed Toshiba Corporation in 1975. After 30 years worked for Toshiba, he became Representative Executive Officer and President and Chief Executive Officer and Director in 2005. Until now, Atsutoshi Nishida is Chairman of the Boards of Director. Atsutoshi Nishida is a different type of president. Many Toshiba’s chiefs have been engineers. However, Atsutoshi Nishida who is holding an important role in Toshiba Corporation today was pursuing a doctorate in the history of German political thought when he decided to join Toshiba in 1975. Whereas most chiefs started their careers in Tokyo, Atsutoshi Nishida was hired from an affiliate in Tehran, Iran. Meantime, Toshiba like many of its Japanese rivals was changing to a new type of leader. In the past, Japanese manufacturers thought the most important quality for their executives was a deep knowledge of their main operations. Now, they are finding people like Mr. Nishida who have shown they know how to manage. Nishida said that his main task would be getting Toshiba to develop faster. Indeed, for the past few years, the electronic-devices division, which made emiconductors and displays, has seen sales rise an average of about 1. 3% a year. Nishida boosted that rate to an annual average of 8% through March 2008. Similarly, he targeted a minimum of 7% average annual sales growth in the next few years in the digital-products division that made televisions, PCs and DVD players. Actually, that division has grown an average of 3. 6% a year. He also developed outside manufacturers to produce 60% of Toshibas PC units, up from 20% previously, and shifted the ompanys personnel and capital to make a few high-end models. As a result of those steps, the computer business moved to a profit in a year. Nishida warned that although boosting profit and shareholder returns is important, he has to balance that with the interests of his employees and customers. He assumed unlike an America Company, Toshiba does not change their strategy or policies depending on who is president. Toshi ba will try to watch the trends and get ahead of them but they cannot fall behind. In genernal, Atsutoshi Nishida is one of the first persons who contributed and built up Toshiba Corporation. .u75af7ee6e06c468ad97ccf2878221db4 , .u75af7ee6e06c468ad97ccf2878221db4 .postImageUrl , .u75af7ee6e06c468ad97ccf2878221db4 .centered-text-area { min-height: 80px; position: relative; } .u75af7ee6e06c468ad97ccf2878221db4 , .u75af7ee6e06c468ad97ccf2878221db4:hover , .u75af7ee6e06c468ad97ccf2878221db4:visited , .u75af7ee6e06c468ad97ccf2878221db4:active { border:0!important; } .u75af7ee6e06c468ad97ccf2878221db4 .clearfix:after { content: ""; display: table; clear: both; } .u75af7ee6e06c468ad97ccf2878221db4 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u75af7ee6e06c468ad97ccf2878221db4:active , .u75af7ee6e06c468ad97ccf2878221db4:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u75af7ee6e06c468ad97ccf2878221db4 .centered-text-area { width: 100%; position: relative ; } .u75af7ee6e06c468ad97ccf2878221db4 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u75af7ee6e06c468ad97ccf2878221db4 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u75af7ee6e06c468ad97ccf2878221db4 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u75af7ee6e06c468ad97ccf2878221db4:hover .ctaButton { background-color: #34495E!important; } .u75af7ee6e06c468ad97ccf2878221db4 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u75af7ee6e06c468ad97ccf2878221db4 .u75af7ee6e06c468ad97ccf2878221db4-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u75af7ee6e06c468ad97ccf2878221db4:after { content: ""; display: block; clear: both; } READ: Salvidor Dali EssayAs a leader and a member of Toshiba, he has been bringing success, fame and profit to Toshiba. 3. 2 Business Strategies Toshiba Groups basic management policy is based on four concepts Toshiba Business Strategies Model (http://www. toshiba. co. jp) 3. 2. 1 Realize sustained growth with high profit First policy, Toshiba tended to shift management direction further toward growth and motivated proactive management through strategic allocation of resources. Toshiba has the digital products business, the electronic device business and the social infrastructure business as their main business domains and as their core businesses. Therefore, they want to achieve a hight level of profitabilty and stability. Toshiba developed the competitiveness of their digital products, as well as continue with high growth and high profitability in their electronic devices, and they tried to be further accelerating growth. And also for the social infrastructure group, which has been positioned as a stable growth and stable profitability business, they would like to move forward so that they would be able to get high growth rates through their overseas businesses. 3. 2. 2 Maximize multiplier effect of innovations Second policy, Toshiba wants to enhance global competitiveness through Process Innovations and Value Innovations Innovation Activities In the second half of 2006, Toshiba Group adopted a new corporate slogan; â€Å"Leading Innovation† which was extended to each aspect of their business. Through process innovation, they can consolidate their competitive power. By developing new technology and products they are pioneer and by producing new value for our customers, they shape Toshiba Group that is alive with creativity. Two Innovations to Realize Sustainable Growth i cube In i cube program, they are promoting innovation in development, innovation in manufacturing and innovation in sales, along with the multiplier effect of applying these advances throughout their operations. They want to go beyond conventional methods of incremental improvements. i cube is the means to empower everybody in Toshiba, so that they can develop their capabilities to the full, and bring a sense of urgency to their work and to the development of business processes that add to the bottom line. 3. 2. 3 Execute management with Corporate Social Responsibility Besides making profit, Toshiba also prioritize human life and safety, and legal compliance in all business activities, and act as a corporate citizen of planet Earth in responding to social and environmental concerns. Toshiba Group’s Corporate Philosophy emphasizes respect for people, creation of new value, and contribution to society. The Group slogan – â€Å"Committed to People, Committed to the Future. TOSHIBA. † – expresses the essence of their corporate philosophy. They recognize that it is their corporate social responsibility (CSR) to put their philosophy and slogan into practice in their day to day business activities. In doing so, they accord the highest priority to human life safety and compliance. Commitment to People They attempt to fulfill the needs of all people, especially their customers, shareholders and employees by implementing with corporate strategies while carrying out responsible and responsivebusiness activities. As good corporate citizens, they actively contribute to further the goals of society. Toshiba based on their total commitment to people and to the future are determined to help create a higher quality of life for all people and to do our part to help ensure that progress continues within the world community. Commitment to the Future By continually developing innovative technologies centering on the fields of Electronics and Energy, we strive to create products and services that enhance human life, and which lead to a thriving, healthy society. We constantly seek new approaches that help realize the goals of the world community, including ways to improve the global environment. 3. 2. 4 Develop People with a Global Perspective Toshiba try to make a global presence by developing well-rounded people with a global perspective, able to drive innovation and to include diversity and different cultures. 3. Bring â€Å"Innovation† to customer Innovative products are the fundamental policies of Toshiba Corporation to achieve success in harsh competition of the target market. That is the reason the slogan of Toshiba Corporation is â€Å"Leading innovation†. Simple visual can be very powerful in creating brand identity. This slogan gives us a look that â€Å"Innovation† is one of critical factor success of Toshiba. Indeed, it is justified by many â€Å"world first† products the company released. In 1970, Toshiba introduced the world’s first color video phone and the world’s first expanded IC color TV the year later. Entertainment was brought into a new level by those inventions. Also, this time Toshiba celebrated its first 100 years. After that, Toshiba introduced the world’s first laptop personal computer in 1985. This is the most improtant invention of Toshiba. The world computer was shifted to a new age. It changed perception’s people about computer. Before this invention, people used to think that compuper was something with complex structure, large size, difficult to use. But now people could expand their computing beyond four walls, bring computer wherever they want. Then in 1991, first color monitor in a laptop was launched by Toshiba. People could enjoy the world of color in their laptop. It brought the convenience to photographers, designers †¦ Nowadays, Internet has become an essential part in our life, especially in our social communication. In 2001, Toshiba produced the world’s first wireless laptop, it extremely opened a new world for internet. Everybody can work with internet everywhere. Moreover, in 2009 Toshiba continued introducing the world first ultraportable laptop with 512 SSD. We can say that Toshiba is leading innovation. That is the reason Toshiba achieved success. . 4 Diversity of products Toshiba is one of the world’s leading and most diversified product providers. The company is well diversified in terms of the markets it serves. Its operations were focused on digital products, social infrastructure systems, electronic devices, and home appliance businesses. Toshiba’s digital products include cellula r phones, LCD TVs, HDDs, DVD recorders, digital audio players, LCD projectors, notebook personal computers, personal digital assistants, business telephone systems, servers, electronic cash registers, multi-function peripherals, and automated ID systems. .u08291ee59aa7dd3f791d6eca6c4758eb , .u08291ee59aa7dd3f791d6eca6c4758eb .postImageUrl , .u08291ee59aa7dd3f791d6eca6c4758eb .centered-text-area { min-height: 80px; position: relative; } .u08291ee59aa7dd3f791d6eca6c4758eb , .u08291ee59aa7dd3f791d6eca6c4758eb:hover , .u08291ee59aa7dd3f791d6eca6c4758eb:visited , .u08291ee59aa7dd3f791d6eca6c4758eb:active { border:0!important; } .u08291ee59aa7dd3f791d6eca6c4758eb .clearfix:after { content: ""; display: table; clear: both; } .u08291ee59aa7dd3f791d6eca6c4758eb { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u08291ee59aa7dd3f791d6eca6c4758eb:active , .u08291ee59aa7dd3f791d6eca6c4758eb:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u08291ee59aa7dd3f791d6eca6c4758eb .centered-text-area { width: 100%; position: relative ; } .u08291ee59aa7dd3f791d6eca6c4758eb .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u08291ee59aa7dd3f791d6eca6c4758eb .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u08291ee59aa7dd3f791d6eca6c4758eb .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u08291ee59aa7dd3f791d6eca6c4758eb:hover .ctaButton { background-color: #34495E!important; } .u08291ee59aa7dd3f791d6eca6c4758eb .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u08291ee59aa7dd3f791d6eca6c4758eb .u08291ee59aa7dd3f791d6eca6c4758eb-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u08291ee59aa7dd3f791d6eca6c4758eb:after { content: ""; display: block; clear: both; } READ: Cheating and Plagiarism - The Path to Self-destruc EssayThe company’s social infrastructure system business offerings include nuclear, thermal and hydroelectric power plants, transmission distribution and industrial systems, environmental systems, and medical systems. It also serves the various markets with its software services, manufacturing, distribution and services, media and telecommunications, banking, securities, and insurance and electronic government systems solutions. The electronic devices business includes the operations of semiconductor, display devices and components control center, and display technologies. Its portfolio includes NAND flash memories (a type of non-volatile storage technology that does not require power to retain data), LSIs(Large Scale Intergration), display drivers, analog ICs, image sensors, SSDs, DMFC for mobile devices, DNA chips, photo catalysts, Klystrons, X-ray tubes, molybdenum products, DNA chips, TFT LCDs and organic LED displays. Toshiba provides a wide range of home appliances covering refrigerators, washing machines, microwave ovens, vacuum cleaners, electric irons, rice cookers and automatic dish washer, lighting and lighting systems, air conditioning products, and water heating systems. In addition, the company is also into integration services, real estate, distribution services, and application service provision. This broad product portfolio has provided the company with diversified revenue streams. In 2009, the company generated about 34. 3% of its total revenue from digital products; 33. 3% from social infrastructure systems, 18. 4% from electronic devices, 9. 4% from home appliance businesses, and other contributed the remaining 4. 6%. Broad product portfolio across several industries provides the company with cross selling opportunities and diversified revenue base. . 5 Significant market position Toshiba had a strong market position in various markets they took part in. They were among the major players in the global PC market, mobile market, semiconductor manufacturing and power generation infrastructure markets among others. In 2008, Toshiba was the second leading player in the NAND Flash market with a share of 28. 1%, compared to 25% in 2007. In the LCD TV segment, their market share went up to 8% in 2008 from 4% in 2004. Toshiba had a market share of 4. % in the worldwide PC market while competing with Hewlett-Packard, Acer, and Dell. Toshiba had a 10% market share in the notebook market. In addition, the PC market share of the company increased to 5. 5% during first quarter of 2009, compared to 4. 3% in the same period during 2008. Toshiba also was one of the prominent providers of semiconductors; Toshiba earned a share of 4. 2% of the global semiconductor markets in 2008. In the Japan’s mobile phone market, Toshiba is one of the leading players with a market share of 7% and competes with Sharp, Panasonic Mobile, and Fujitsu. Toshiba also had a strong market share in the power generation infrastructure in 2008. Toshiba gained a share of about 40% and 60% in the worldwide and the US nuclear reactor markets respectively. In the US steam turbine and generator market, the company was also a leading player, competing with Siemens, Fuji Electric Systems, and General electric. Strong market share in various segments strengthens the brand image of the company and makes its entry into new product segments and markets easier. 4. Insight I think one of the most important factors for success of Toshiba is to bring â€Å"innovation† to customers. Nowadays, high-technology is an essential part in our life which helps us in many areas like working, moving, housework, medical †¦ Toshiba knew this from Toshiba was estalished in 1939 so they focused on researching and developing high-technology then step by step Toshiba affirmed their valid position in the world high-techology and created belief in customer minds by introducing many kinds of high-technology products with high quality. Now they became one of Japans oldest, largest and leading producers of consumer and industrial electric products in the world (the 8th Most Admired Electronics Company for 2009 and one of the Top 100 Global Companies for 2008 ranked by Fortune Magazine) In addition, business strategy is also an important factor for Toshiba’s success. Toshiba had specific policies and follow them flexibly. Four concepts they has been following are Realize sustained growth with high profit, Maximize multiplier effect of innovations, Execute management with Corporate Social Responsibility, Develop People with a Global Perspective. Firstly, Toshiba tried to maintain what they had built in the world market then they develop their strong point (innovation). After that, they convinced cutomers by concerning about human life in management and develop people with different cultures. Besides that, Toshiba also concentrated on diversity of products to meet demands of any type of customer, especially in electric area. Toshiba created the amount of loyal customers then based on the loyalty of customers, they developed diversity of products. For example, customers buy a washing machine and they feel it work very well then when they buy another products like television, air condition †¦ they will think about products of Toshiba. In general, I think that in order to achieve success today, Toshiba combined many factors flexibly and efficiently in any economic circumstances. And the most important factor is the way Toshiba bring up belief of customers by producing innovative and high quality products from Toshiba was established. 5. Conclusion In the competitive market, there are many ways to succeed and many corporations have been successful with their business policy and strategy. However, many of them have some of common points like efficient management, good business strategy, quality products, professional staff †¦ Also; Toshiba achieved success with talented CEO, specific good business strategy, leading innovation, diversity of products, strong marketing position†¦ Words: 3091 6. References 6. 1. Book references Gareth R. Jones, Jennifer M. George, Charles W. L. Hill, 1998, Contemporary Management, McGraw-Hill Eduacation, New York, p. 188 William O. Bearden, Thomas N. Ingram, Raymond W. LaForge, 2004, Marketing – Principles and perspectives, McGraw-Hill Eduacation, Fourth Edition, p. 144 Robert L. Cutts, 2002, Toshiba – Defining a new tommorrow, The Penguin Group, London. David Jobber, 2010, Principles and Practice of Marketing, McGraw-Hill Eduacation, Sixth Edition, New York, p. 476, 706, 707 W. Mark Fruin, 1997, Knowledge works: managing intellectual capital at Toshiba, Oxford University Press, Inc, New York, p. 125, 208 Hall, Kenji, Burrows, Peter, 12/19/2005, Why Toshiba is clamming up, Business Week McGraw-Hill Companies Inc 6. 2 Internet References National Accounts Form a Partnership with the Leader in Document Imaging http://copiers. toshiba. com/usa/about/national-accounts. html About Toshiba – History http://www. toshiba. co. jp/worldwide/about/history. html#Y2000 Toshiba Storage Device Division http://sdd. toshiba. com/main. aspx? Path=Company/ Toshiba Corp. http://proquest. umi. com. libproxy. nlb. gov. sg/pqdweb? did=886673771=1 Toshibas Toughest Sell – By Kenji Hall http://www. businessweek. com/