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The Corporate Profiles for Volkswagen and the Sony Corporation Corporate Profile: Volkswagen Group Volkswagen Group is German manufacturer of automobiles. Gesellschaft zur Vorbereitung des Deutschen Volkswagen's mbH was founded on May 28, 1937. On September 16, 1938 the due to owners decision the company was renamed Volkswagenwerk GmbH. In 1949 Pon's Automobielhandel, Amersfoort - the Dutch importer of automobiles starts first commercial export of Volkswagen cars.
In 1949 Volkswagen Group creates Volkswagen-Finanzierungs-Gesellschaft mbH for sales purposes on the local German market. In 1950 Volkswagenwerk becomes very popular because of its new models of vehicles. Six years later, Volkswagen Commercial Vehicles sets up a production facility in Hanover factory. This facility makes a significant part of todays Volkswagen brand.
In 1952 Volkswagen Company establishes Volkswagen Canada ltd. (Toronto) and makes its first steps on the way of internationalizing. In 1953 Volkswagen establishes Volkswagen do Brasil Ltda and becomes the largest manufacturer in Brazil. What concerns the local market, Volkswagen becomes very popular. In 1960 Volkswagenwerk GmbH becomes Volkswagenwerk Aktiengesellschaft. German Parliament issues and approves the law on the transfer of shares in Volkswagenwerk Gesellschaft mit beschrankter Haftung to private ownership.
According to the law and Volkswagenwerk Act, the company sells 60 % of its capital to the public. 40 % of Volkswagenwerk shares remain the property of Land and Federal governments. Such partial privatization becomes the first German experience in a new public stock. The company starts to strengthen its positions on the domestic and foreign markets. One of such steps is a purchase of the Daimler-Benz subsidiary Auto Union GmbH in 1965. Due to this purchase the company manages to enter the upper segment of the market by taking a brand that is the synonym to tradition and innovations. In 1969 the company makes a merger.
In result in this merger Auto Union GmbH unites with NSU Motorenwerke AG and becomes known as Audi NSU Auto Union AG. Further Audi NSU Auto Union AG is renamed Audi AG (January 1, 1985). Volkswagen continues its commercial expansion. Now its target is Sweden. In 1968 Volkswagen in partnership with AB Scania Valid creates Svenska Volkswagen AB in Sodertalje. The company starts new marketing strategy.
According to it, Volkswagen Group companies become responsible for wholesale distribution in all major European markets. In March 1970 Volkswagen Group acquires Selbstfahrer-Union (The largest German car rental agency). In 1988 its subsidiary (inter Rent Autovermietung GmbH) merges with Europcar and is renamed Europcar International S. A. In result of this merger Volkswagen Group owns 50 % of the companys shares. The other 50 % of shares Volkswagen Group acquires in 2000.
In 1971 Volkswagen Group establishes Volkswagen Bruxelles S. A. and becomes the leading importer and exporter of cars in Belgium. In 1972 Volkswagen Group becomes the largest car manufacturer in the world with 15, 007, 034 vehicles. Volkswagen starts to produce new vehicles in order to retain their leading positions in the markets. In 1973 Volkswagen introduces its first model of a new generation: the Volkswagen Passat.
In January 1974 it produces Volkswagen Golf, the compact sedan that becomes a sales hit. During the 1980 Volkswagen Group acquires 2 / 3 of Motors do Brasil Ltda capital and starts manufacture of larger cars. What concerns China, in 1982 the company concludes a trial assembly contract with Shanghai Tractor & Automobile Corporation. This contract is the first step of Volkswagen on the way to their expansion to the China market.
Three years later, in 1985, the company owns 50 % of shares of Shanghai-Volkswagen Automotive Company, Ltd, and becomes the largest car factory in China Republic. In 1982 the company cooperates with Sociedad Espanola de Automobiles de Turismo, SA" (SEAT), and in 1986 introduces SEAT and the 3 rd independent brand within Volkswagen. In June 1983 Volkswagen starts manufacture of the second Golf generation. Volkswagen is one of the first car manufacturers that use robots in the process of car assembling. In 1990 Volkswagen Group received world global brand recognition with its branches, daughter enterprises, and other organizational structures like Volkswagen Sachsen GmbH, Volkswagen Final GmbH, and others.
In 1990 Volkswagen makes a takeover of SKODA, automobilia a. s. In 1991 Volkswagen expands to Canada, USA and Mexico. In 1995 the company introduces its new Audi A 4, in 1996 it assembles the fifth generation of Volkswagen Passat.
In 1998 Volkswagen acquires Bentley Motor Cars Limited. This acquisition gave the opportunity to expand to the luxury cars segment by using such brands like Bugatti and Lamborghini. In 2000 Volkswagen acquires 18. 7 % of the market shares and 34 % of the voting rights of Scania AB (The largest truck manufacturer in Sweden). Simultaneously Volkswagen Group creates the Auto Stadt in Wolfsburg. One year later, the company introduces fourth generation of POLO. In December 2001 it introduces the first car for luxury class assembled at Volkswagen's own plant, the Phaeton.
In 2002 the company restructures in order to sharpen brand profiles and to enhance its effectiveness. According to changes, commercial cars become an independent brand, Bugatti, Bentley, Skoda and Volkswagen Passenger Cars stand for reliability and authenticity, Lamborghini, SEAT and Audi are the synonyms to sportiness, stylish design and innovative technologies. Volkswagen AG belongs to founding members of German Economy Foundation Initiative Steering Group (German "Stiftungsinitiative der deutschen Wirtschaft"), the precursor of German Foundation Remembrance, Responsibility and the Future (German Bundesstiftung "Erinnerung, Verantwortung und Zukunft). In 1998 Volkswagen AG established a humanitarian fund aimed to help people who worked for Volkswagen Group during World War II. Senior Management The management of Volkswagen Group comprises of Management Board and Supervisory Board. The Board of Management of Volkswagen AG consists of 6 members, where each member is responsible for certain function within the company: Dr.
rer. pol. Wolfgang Bernhard (Chairman of the Board of Management of Volkswagen brand), Francisco Javier Garcia Sanz (Procurement), Dr. Horst Neumann (Human resources and Labor Director). Dipl. Wirtsch. -Ing.
Hans Dieter Patch (Finance and Controlling), and Prof. Dr. rer. nat.
Martin Winterkon (the Chairman of the Management Board of Audi AG). The Chairman of the Management Board is Dr. Bernd Pischetsrieder. Supervisory Board is aimed to monitor the Management. It is responsible for appointing the Management Board and approving the most important corporate decisions.
It consists of 20 members at the head of its Chairman, Dr. Ferdinand K. Piece. According to information from Forbes Global 2000, the key figures are as follows: Sales
$ 112. 61 bil
Profits
$ 1. 32 bil
Assets
$ 169. 49 bil
Market value
$ 26. 93 bil
Employees
342, 502 According to Forbes, Volkswagen Group belongs to the world's most reputable companies (Automotive industry, Reptrak pulse 2006: 70. 46, 2005 revenues ($mil): 112, 610). The key data for Volkswagen Group (Volkswagen website web): Key data January - December 2005
Volkswagen Group
2005
Change vs. 2004 (%)
Deliveries to customers
' 000 units
5, 24 Production
' 000 units
5, 21 Workforce
December 31
344, 90 Sales
million EUR
95, 26 Profit after tax
million EUR
1, 120
+ 60. 7 Despite of problems related to the companys restructure, specifically in North American and China (Priddle 1), Volkswagen Group continues its expansion to world markets and undertakes all efforts to retain its positions as of the leading car manufacturers. Sony Corporation (Japan) Sony Corporation was founded on May 7, 1946.
The company was known as Tokyo Telecommunications Engineering Corporation (also Totsuko) in Nihonbashi, Tokyo. In 1947 the head office moved to Shinagawa, Tokyo. In 1949 the company assembles its first magnetic tape recorder, the prototype of the G-Type recorder launched in 1950. This was the beginning of Sony Corporation. Several years later, in 1954 the company builds a new plant, further renamed Sendai Technology Center. The same year is known for the first PNP alloy-type transistor and germanium diode made by Sony.
In 1955 the Totsuko corporation decides to use SONY logotype on its products. SONY becomes well-recognized brand. Three years later, in 1958, the company renamed Sony Corporation. In 1960 Sony enters the American market and establishes the company known as SONY Corporation of America (SONAM). Sony assembles the first direct-view portable television (TV 8 - 301). As part of its development program, the company establishes new branch in Switzerland under the name Sony Overseas S.
A. Year 1962 is known for two main events: Sony Corporation arrives to Hong Kong (Sony Corporation of Hong Kong Ltd), and introduces the lightest and smallest all-transistor TV 5 - 303. In 1963 Sony Corporation launches the first compact transistor CTR (PV- 100). In 1964 Sony launches tape-recorder that has an option of automatic recording adjustment (Sony-O-Matic TC- 357). During the same year the company builds a new plant in Shinagawa, Tokyo. In 1966 it opens Sony Building in Ginza, Tokyo and launches the first cassette-type recorder Magazine-matic 100 TC- 100.
Year 1968 is a turning point for Sony Corporation. In 1968 the company establishes 50 / 50 joint venture with American CBS Inc, known as CBS/Sony Records Inc. Twenty years later CBS/Sony Inc becomes a wholly-owned by Sony and in 1991 renamed Sony Music Entertainment Inc. Sony continues to establish plants in Tokyo and other countries (Shibaura plant in Minato, Tokyo, Shiroishi, Miyagi Prefecture, Inazawa Plant, Ichinomiya Plant, etc). In 1970 Sony comes to Germany under the name Sony G. m.
b. H. renamed Sony Deutschland G. m. b.
H in 1980. In 1973 Sony starts its operation in Spain (Hispano Sony in Barcelona) and France (Sony France S. A. in Paris).
In 1974 a new assembly plant is established in the United Kingdom of Great Britain (Bridgend, Wales). Year 1979 is known for the first Sony's Walkman (the TPS-L 2, the firs personal headphone stereo). In 1979 Sony establishes Sony Prudential Life Insurance Co. Ltd. , (50 / 50 joint venture with American Prudential Insurance Co. ). In 1980 Sony Corporation invents and assembles the first CD player (CDP- 101). In 1984 it launches Discman (a portable CD-player D- 50) and continues to launch new video standards (Mavica magnetic recording standard (1980) and high definition video system (HDVS) in 1984).
In 1986 Sony Corporation establishes Sony Europe G. m. b. H. in Cologne, Germany. As a logical step of Sony's success, the company acquires CBS Records Inc. , in 1988 and renames it Sony Music Entertainment Inc.
in 1991. In 1989 Sony acquires Columbia Pictures Entertainment, Inc. In 1993 the company starts to introduce innovative technologies in computer industry and establishes Sony Computer Entertainment Inc... In 1995 the company establishes Sony Communication Network Corporation and in 1996 Sony China. In 1997 Sony Group creates Sony Marketing Co. , Ltd. , introduces Corporate Executive Officer System and develops al Reality Creation, the technology that allows creating highly-realistic 4 x picture resolution based on standard television signals, using Sony's exclusive digital signal processing algorithm (Sony Website n. p. ).
In 2000 the company opens Sony Center am Potsdamer Platz berlin, announces Small Biped Entertainment Robot SDR- 3 X and launches the personal IT-TV Airboard IDT-LF 1. Year 2001 is known for a number of newly established branches, daughter corporations and other companies like Sony Bank in Japan, Sone EMCS, and Sony Ericsson Mobile Communications. In 2002 Sony merges with AIWA. In 2004 the company establishes FeliCa Networks, Inc. , Sony Financial Holdings Inc. and Sony BMG Music Entertainment. It also becomes a wholly owner of Sony Computer Entertainment Inc. (SCE).
In 2005 the company undertakes a successful attempt to acquire American Metro-Goldwyn Mayer (MGM) and becomes the most recognizable brand in the world. However, the companys positions in the electronic market are not very strong. According to recent information, the iPod is blamed for Sony's fall (Corbett n. p. ) despite of growth of sales at Sony Music Entertainment Japan, profits from sales for Spider Man 2 at Sony Pictures and contribution from Sony Ericsson Mobile Communications. The company plans to exploit new opportunities in order to connect technology and content. What concerns drop in sales, the company blames piracy and illegal downloads.
Yasushi Ide, corporate vice president of Sony Music Entertainment Japan plans to find new revenue streams to make up for the decline in CD sales (Corbett n. p), namely licensing and music publishing. Besides, the fusion of basic entertainment like games, music and movies will be lucrative to the new Sony's strategy in major operating regions (Africa, Asia, Europe, Latin America, North America and Oceania). Major products: Audio (portable audio, home audio, car audio, car navigation systems, etc); Video (digital still cameras, DVD-Video players / recorders , video cameras, digital broadcasting receiving systems, video decks, etc); Televisions (projection televisions, LCD and PDP televisions, CRT-based televisions, displays and projectors for computers); Information and communications (printer system, PC, portable information PC, broadcast and professional-use equipment (video / audio /monitors etc); Semiconductors (CCD, LCD semiconductors, etc); Electronic components (audio / video /data recording systems, optical pickups and batteries, etc) Financials/Key Figures: According to Forbes, the most recent financial figures are as follows: Financials:
Sales:
$ 66. 094 bil
Profits:
$ 1. 404 bil
Assets:
$ 91. 528 bil
Employees:
158500 According to the information from Forbes, Sony Corporation (Japan) belongs to the list of the world's most reputable companies (Reptrak pulse 2006: 75. 17, 2005 revenues ($mil): 63, 616).
According to Sony's financial highlights, the companys consolidated sales and operating revenue is 7, 475. 4 billion yen. It rose 4. 4 % compared to the pervious years mainly due to the increases in the Financial Services and Game Businesses. Operating incomes also increased (67. 9 %, to? 191. 3 billion). References: Corbett, James A. (Autumn 2005). Sony + Music = Entertainment: could a synergies Sony be set to stage a comeback? Japan, Inc.
Forbes Global 2000, Sony Corporation (Japan). Company Information Forbes Global 2000, VOLKSWAGEN AG SPONS ADR. Company Information Forbes. (November 20, 2006). The World's Most Reputable Companies.
Priddle, Alisa. (October 1, 2005). What Will It Take To Fix Volkswagen? Ward's Auto World. Sony Corporation (Japan) Website. Retrieved November 27, 2006. web Volkswagen Website.
Retrieved November 27, 2006. web
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Research essay sample on The Corporate Profiles For Volkswagen And Sony Corporation
