Olympus Corporation Analysis

Olympus Corporation strives to put in place tangible and intangible resources to cultivate competitiveness in the market. The company’s tangible resources encompass advanced technology. The company makes use of technology to improve the effectiveness of its imaging and optics products and in the event cultivate value innovation. The companies technological approach takes shape through; report and evidence technology, medical and surgical technology, imaging and analysis technology, recognition and analysis technology and access technology (Ogawa, 2017).   Further, the firm makes use cloud computing services to facilitate a one-stop destination for all its customer’s photos. The approach enables its customers to share photos online (Olympus, 2018).  The aspect of technology has been facilitative in targeting and market segmentation in the sense that each market segment is served by a technological approach that meets its needs and expectations.

The company’s intangible resources encompass a rich and diverse team that is responsive to the ever-changing operational environment. The firm human capital is built on the aspect of respect to employees’ unique skills and enthusiasm (Aason, 2018). The company believes in innovation and as such it allows its employees to explore a wide range of options towards providing solutions to customer needs along the five technology groups. The firm has been keen on forming partnerships with a like-minded partner in the market to enhance its capabilities in offering the best options to its customers (Francis, 2018). Olympus partnership with Terumo Corporation is a case in point and such a move has seen the company enhance it medical product coverage.

In any case, the company combines both tangible and intangible resources to keep it a competitive niche in the market.

Olympus Corporation prides itself as a market leader in opto-Digital technology. The firm operational capabilities revolve around a diversified range of products, strong brand and customer focused market approach. Olympus has offers opto-Digital technologies to a wide range of markets and industries. The approach enables it to increase its revenue base (Kaplonek, Hloch, & Nadolny, 2014). Customer loyalty is facilitated by a strong and trusted brand which customers take pride and confidence to identify with and as such, then it secures repeat business. The company has been in operation long enough an aspect that has seen it master means and processes of fulfilling customer demand (Taguch, 2015). The firm’s approach to the market is customer oriented in the sense that it employs the best technology in the market to meet the needs and expectations of different market segments.

The company has been able to leverage on emerging technology to meet needs and expectation of global markets (Anand, 2018). The market in which Olympus operates is ever changing and as such, it has mastered the art of putting in use collaborative technology through working closely with stakeholders and customers (Okubo, 2016). The approach has been instrumental in the development of products that surpass customer anticipation. The company does not take chances when it comes to developing new products and services since it understands very well customer needs in the market keep on changing (Reynolds, 2011). Therefore, Olympus has been investing in R & D to identify new opportunities and in the event, engage its innovative workforce to come up with product features suitable for the identified markets. Further, the company has a bend to use social media platforms to reach new markets.

The company faces the threat of substitution and as such, the management at Olympus has been keen to leverage on new technologies that facilitate inclusion of feature to its products that are way beyond imitative capabilities of its rivals (Bordes, 2013). The approach allows the creation of blue ocean operating strategy that allows the company to create value innovation (Gersbach, 2014). In any case, the company partners with other firms to gain knowledge of areas of deficiency in its operations, a move that has seen it stay ahead of the competition.

References

Aason. (2018). Olympus Corporation of the Americas Delivers a Unified HR Strategy with SAP® SuccessFactors® and Aasonn. Retrieved from Olympus: http://www.aasonn.com/olympus-story/

Anand, A. (2018). Non-Destructive Testing Services Market: Emerging Technologies, Company Profile, Opportunities, Competitive Landscape, Analytical Overview and Potential of Industry From 2018-2023. Retrieved from Digital Journal: http://www.digitaljournal.com/pr/3684252

Bordes, J. (2013). Building and Sustaining Competetive Advantage. Retrieved from https://www.aiu.edu/applications/DocumentLibraryManager/upload/Jeff%20Bordes.Strategic%20Management.pdf

Francis, C. (2018). icroscopes Market 2018 Overview in-Depth Analysis – Olympus Corporation, Motic, Keyence, Hirox, Carl Zeiss. Retrieved from The Financial: https://thefinancialconsulting.com/microscopes-market-2018-overview-in-depth-analysis-olympus-corporation-motic-keyence-hirox-carl-zeiss/56512/

Gersbach, F. (2014). The journey into the self becomes reality: Siemens Healthcare and Olympus Medical Systems Corporation announce collaborative development of advanced magnetically guided capsule endoscope system for intragastric observation. Retrieved from https://www.siemens.com/press/en/pressrelease/?press=/en/pressrelease/2010/workflow_solutions/hws20100440.htm

Kaplonek, W., Hloch, S., & Nadolny, K. (2014). The Use of Opto-Digital Microscope for Analysis of the PFA-based Abrasive Tools with Surface Micro-Discontinuities. Nigerian Journal of Technology, 33(1), 125 – 133.

Ogawa, H. (2017). Business Process Reengineering Project 2: Innovative Technology Development. Retrieved from Olympus: https://www.olympus-global.com/ir/data/pdf/id_2017e_06.pdf

Okubo, T. (2016). Scientific Solutions Business Strategy. Retrieved from olympus: https://www.olympus-global.com/ir/data/pdf/plan_16csp_09e.pdf

Olympus. (2018). Forward-looking,value-added innovations based on Opto-Digital technology. Retrieved from https://www.olympus-global.com/brand/development/

Reynolds, I. (2011). Analysis: Olympus medical business too big to fail. Retrieved from https://www.reuters.com/article/us-olympus-future-f/analysis-olympus-medical-business-too-big-to-fail-idUSTRE7AA2E620111111

Taguch, A. (2015). Review of Business Segments. Retrieved from Medical Business: https://www.olympus-global.com/ir/data/annualreport/pdf/ar2015e_09.pdf