Assess how globalization and technology changes have impacted the corporation you researched.
The company researched was Universal Music Group because the music industry is ever growing and I wanted to know more about the company. As we all know, technology has been a major part of the music industry both good and bad. Technology has helped plenty of artists and hurt others. Since the introduction of the mp3 and the popularity of the IPOD device, compact disc sales have declined and more music is being released without the record company’s permission. Some may view this as a major problem to the other major record labels that distribute music globally. But some are using the mp3 to their advantage. A while ago an artist could not walk out
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Using the resource-based model for above-average returns “assumes that each organization is a collection of unique resources and capabilities. The uniqueness of its resources and capabilities is the basis of a firm’s strategy and its ability to earn above-average returns. (Michael A. Hitt, 2013)” Universal Music Group’s resources are identified as artists, labels, publishing companies, merchandising, and distribution. The strengths and weaknesses of the label’s resources will be compared to the competition. The record label will then determine which set of resources should be used to perform the task of generating a profit. A key factor they will test is to make sure that they (Universal Music Group) will do better than the competition. Universal will have to research what areas it excels in oppose to the other major record labels. Next Universal will locate a demographic that is interested in the products they are delivering to the masses. Once the demographic is determined the label will implement the strategy of promoting the music through all media outlets including, but not limited to, television, radio, print, and live performances. That is how Universal Music Group can earn above-average returns.
Assess how the vision statement and mission statement of the corporation influence its overall success.
The vision statement of Universal Music Group is to be the world’s largest music content company. This is a key