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Canon & Strategic Management

What could Canon Inc, do internally to improve?

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Canon, Inc., is a leader in digital imaging solutions and one of the Fortune Magazine's 2013 World's Most Admired Companies. The company is known for producing reliable consumer, business to business, and industrial digital imaging solutions. However, in performing an internal analysis on the company there is room for improvement in order for Canon, Inc. to recognize its goal of becoming a truly excellent global corporation.

Canon has a distinct competency of being one of the top five companies awarded U.S. patents each year. This distinction, however, must be capitalized upon. Experts point out that adding to a patent portfolio does not always translate into major innovations in its products. Canon was late to the mirror-less camera market. Sony, Olympus, and Fujifilm have been ahead of Canon in the innovation department, with Fujifilm known as the industry leader with first to market technology (Zhang, 2013). Canon must utilize their research and development competencies to maximize innovativeness and take advantage of opportunities in the marketplace.

Since Canon is a technology company it is ...

Solution Summary

This solution discusses what Canon could do to improve internally based on strategic management. Includes APA formatted references.