Strategic Management and Strategic Competitiveness

Strategic Management and Strategic Competitiveness

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Strategic Management and Strategic Competitiveness Assess how globalization and technology changes have impacted the corporation youresearched.The company researched was Universal Music Group because the music industry is evergrowing and I wanted to know more about the company. As we all know, technology has been amajor part of the music industry both good and bad. Technology has helped plenty of artists andhurt others. Since the introduction of the mp3 and the popularity of the IPOD device, compactdisc sales have declined and more music is being released without the record company’spermission. Some may view this as a major problem to the other major record labels thatdistribute music globally. But some are using the mp3 to their advantage. A while ago an artistcould not walk out of a studio and release a record in ten minutes. Now artists can get the musicto their fans in record time and the fans can then download the song a lot faster than a drive tothe local record store. Overall sales are down in the music industry, but according to sources“Universal Music Group, the biggest of the world’s four major music companies, made the mostmoney percentage and dollar wise from digital sales in 2008 (Lewis, 2009).” Because it’sbelieved that music is a global language, Universal Music Group makes money from all acrossthe world. The company has artists and labels from multiple countries that are very successful ingenerating record sales. There are American artists that were at a point in their careers wheretheir music was not selling as it once was, but now they are touring overseas. Technology andglobalization have been a driving force in the music industry and Universal Music Group isreaping the benefits of both. It took the major labels a long time to embrace the digital age ofmusic and they almost missed out on major money. Universal Music Group is thriving in adeclining music industry that has gone from analog to digital right before our eyes……………………………………………………………………………….