After analyzing the case, it can be determined that Canon’s Digital camera’s sales have suffered in light of the recent boom in smartphones technology and cameras capabilities.On the other hand, the major telecommunication organization has increased its spending on its research and development projects, which enabled the company to introduce highly advanced smartphones with high profile camerafeatures in the market. As a result, this attracted more customers towards these telecommunication products, which adversely affected the sales of Canon’s digital cameras in the market as well as the overall revenues were affected. Moreover, it has been assessed that the customers’ views have changed in the market, wheresmartphone cameras were fulfilling the needs of the consumers and a shift from high profile digital cameras towards smarts phoneswas assessed, which allowed the users to gain maximum utility that fulfilled their telecommunication as well as camera needs. To counteract the effect of the increasing trend and acceptance of smartphones, the company decided to diversify and enter into different market to sustain and grow its revenue stream.
Therefore, as the CEO of Canon in 2010, it would be beneficial to take the same initiatives taken, as the networks surveillance market was expected to raise; attributed to the increased risk of losses caused by mismanagement or theft to the major corporations operating in various industries. Hence, it was necessary for organizations to monitor the inventories or production processes to ensure proper guidelines were being followed, while also mitigating the risk of theft.
It was assessed that the need for surveillance has increased to protect the amount of capital invested by the organization and to ensure that the proper production plan was being implemented by the production team, which would ensure the quality of the product and maintain the sustainability of the companies.
Furthermore, it was assessed that financial institutions engaged in the banking industries were more prone towards implementing efficient surveillance systems that would maintain the integrity of the financial institution. This, in turn, would enhance their customers’ confidence and trust, because the financial institution deals with mostly cash and other financial instruments that are more likely to be stolen. Hence, they need to deploy surveillance systems to monitor their premises, especially places like vaults and money counters, which would deter any potential thief to try any sort of scheme that could potentially affect the image or integrity of the financial institution.
Therefore, it can be determined that the network security market was bound to grow and provide benefit to any industry operating within it, if it was proficient enough to develop and implement effective strategies to take advantage of this opportunity.Hence, Canon’s plan to expand into the network security market was a good move from the CEO…………………………….
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