ENTREPRENEUR

NAME : LALIT BIST R.NO : 1

About the company A Japanese multinational corporation

headquartered in , Minato, Tokyo, Japan.

It is one of the leading manufacturers of electronic products for the consumer and professional markets.

Sony is ranked 116th on the 2015 list of Fortune Global 500.

Traded as NYSE: SNE

Current CEO : Kazuo Hirai

Product Range

•TV & Audio Equipment •Mobile Phones & Music

•Computer •Game Consoles

•Movie & Video Entertainment•Financial Services

Major Products

Co-Founder Of Sony

Masaru Ibuka Akio Morita

Co-Founder Of Sony

Masaru Ibuka Akio Morita

“On May 7, 1946, they founded Tokyo Telecommunications Engineering Corporation with about 20 employees and initial capital of ¥190,000. Morita's family invested in this during the early period and was the largest shareholder”.

Cont….

AKIO MORITA

The Entrepreneur that made Sony

Background

Born on January 26, 1921 in Nagoya, Japan

The Morita family had been brewing sake and soy sauce for 14 generations. As the oldest son, he was expected to take over the business, but Akio was more interested in tinkering with electronics.

Father : Kyuzaemon Morita

Mother : Shu Morita

He had begun being groomed to take over the family business by the age of ten, at which time his father even made him attend all of the company’s board meetings.

Akio Morita found the Sony Corporation in 1946 with his buddy, Masaru Ibuka. Morita was 25 when he established Sony.

He worked in a partnership with Masaru Ibuka.

Ibuka focused on engineering and product design, while Morita handled marketing, personnel and financing.

Educational Qualifications

Graduates from the science department of the Eighth

Higher School in 1942

Graduated from Osaka Imperial University with a degree in physics in 1944.

After higher education ,Akio is commissioned as a Navy technical lieutenant, working as a technician in avionic research at the Yokosuka Naval Base

Unique Qualities

Encouragement Fearless Rational thinker Goal oriented person Creativity Energetic Social

Challenges faced in life

Launch a new product. find the specific market. Difficulties on customer necessity

changes.

Achievements about his business

In 1960 Akio Morita launched the company in the United States and renamed it

‘Sony’.

The Sony Corporation of America was the first Japanese company to be listed on

the New York Stock Exchange.

The same year they produced the very first transistor television.

In 1979 they diversified into the financial arena by establishing the Sony Prudential

Life Insurance Co. Ltd. He also acquired CBS Records Inc. and Columbia Pictures

Entertainment Inc.

He helped put his country back on the map, while building his company reputation

across the world.

Indeed, in 1998, a Harris survey revealed that Sony was ranked the number one

brand name by American consumers, ahead of Coca-Cola and General Electric.

THAT’S HOW THE NAME CHANGED• During his trip to the US and Europe in 1952, Morita found that the company

name Tokyo Tsushin Kabushiki Kaisha was a tongue twister and nobody could pronounce it correctly.

• Thus, a name had to be found which was not too long, had only four to five letters and would be pronounced easily.

• After considerable research, the duo decided to use the name 'Sony', which was derived from the two words 'Sonus‘ (which in Latin means sound) and 'Sonny'(which was an English slang for bright, young and cute boys).

• Moreover, since they felt that they themselves were one, they decided on the name 'Sony'...

Sony after Morita• After Morita's resignation, Sony seemed to have missed many

opportunities. It was not successful in the flat display televisions and computer market.

• It also failed in the cellular phones market. Eventually, the cell phone business of Sony was merged with Ericsson.

• Analysts also felt that Sony should sell the lossmaking Aiwa Company and discontinue the Trinitron TV product line, which was making losses in spite of being a pioneer and a leading product during its initial years...

In 1994, Morita suffered a cerebral hemorrhage

while playing tennis, and subsequently announced his resignation as Sony chairman. Morita also

published an autobiography, called “Made in Japan.”  Five

years later, at the age of 78, Morita died of

pneumonia. His legacy lives on in the company

he founded, the company that continues to be one

of the world’s most renowned manufacturers of consumer electronics.

Key lessons can learn from him

Believe in yourself. Start small . Pick a good name. Trust your gut . Don’t be afraid to make

mistake. Build a quality product. Be different.

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