Toshiba has been one of the best global companies that are providing worlds best electronic and all-electric daily use products. It is basically a Japan base company and has always maintained a good name in the market. Toshiba has always considered as the best company that has quality products. The users are showing a trust on the company and therefore often consider Toshiba as their home product. Toshiba apart from manufacturing home appliances and electronic is also now focusing on the manufacturing of the best laptops and other gadgets. Therefore it is imperative to delve into the detail of certain factors that has influenced the company in a direct and sometimes in an indirect way.
The political factors are most of the time not very much influential in the way of the progress of the companies like Toshiba. The company is away from the political scenario of the state in which the country is operating. However, in recent times there are certain things like the peace of the state and the political instability which laid direct impact on the company. A country with political instability becomes a war prone area and the sale of the white good items became low. It could be analyzed from the example that the recent conflicts in Korea have greatly affected the company as a whole.
This is one the very important dimension for the company like Toshiba. The more the states will develop the higher are the chances of the company to expand and open its new units in the newly developed zones. The good GDP of the country means that the people has more income and will be more prone to buying the latest items produced by the company. In this way, the overall profit of the company will be increased and the company will always be in a position to expand globally. Moreover, the overall economic crisis the world has been facing in recent times has also a direct impact on the company like Toshiba. The global uncertainty has made the company to change its strategies every now and then.
These impacts are purely based on the local beliefs and culture of the people in which the company is operating. This is a very dynamic domain and for the success, the company must show flexibility in its policies pertaining to the local culture. Toshiba is basically a purely Japanese company but it has changed its preferences and the related policies as per the local social factors in which the company is being operated.
Toshiba has been famous in the world for its innovation. Toshiba has its mission to always follow the contemporary trends in the technological sphere. There are many rivals of Toshiba now. It is incumbent for the company to go one step ahead of the technology. The products Toshiba is producing are mostly technological related so it is one of an essential factor which the company needs to keep in view while chalking out the policies and assessing the forthcoming launching of devices and the features of the devices. Toshiba has been the technology driven company and focusing on the latest trends of technology should have been the fundamental maxim the company like Toshiba should follow.
For the global company like Toshiba which has many rivals like Samsung. Toshiba has to be very much vigilant about the legal issues like copy and other pirated issues. Apart from this many times, Toshiba has been accused of not paying much to its employees as compared to its rivals. The individual working in Toshiba often leaves and joins the rival companies, which maximizes the risks of leakage of innovative ideas. Toshiba should chalk out some legal bindings in this perspective. Moreover, Toshiba should always abide by the legal issues of the domain in order to increase the customers and to maintain a positive image in the market which will always help in gaining the trust of the customers.
With the rise of globalization, people have become more and more ethical and ethics oriented. The consumers always expect from their favorite brand to be socially responsible. They always want from their brand to play a vital role in the betterment of the society as a whole. The working conditions of the company must also be good enough to attract the best of the individuals to be the part of the Toshiba family.
Toshiba has been a company which is highly dynamic in nature. In order to maintain the market, Toshiba should always consider the aforementioned facts and analysis. These external, as well as internal factors are the major ingredients in the success of the company. They clearly define the agenda the company should follow to avoid the failure.