Canon Future Strategies Essay example

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The Excellent Global Corporation Plan

Based on the corporate philosophy of kyosei, the Excellent Global Corporation Plan is a medium- to long-term management plan with the goal of building a corporate group that continues contributing to society through technological innovation, aiming to be a corporation worthy of admiration and respect worldwide. In the five-year first phase of the plan, which began in 1996, Canon inculcated in the Group the concepts of profit orientation and total optimization, introducing production reforms by means of the cell production system, and cash flow-based consolidated business performance evaluation. In the second phase of the plan, which began in 2001, they have aimed to become No.1 in all our businesses
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Looking at figures for individual business segments in fiscal 2004, investment in business machines was ¥120.9 billion, or 43.9% of total research and development expenses, while investment in cameras was ¥35.5 billion, or 12.9%.
Canon has achieved tremendous results in its quest to become a truly excellent company through a strategy of selection and concentration. While working to bring Phase II to a successful conclusion, they are also making thorough preparations to pursue healthy growth, our new target for Phase III, which begins in 2006.

Future Concentration

Canon's future strategy was to create a resilient global organisation and to make the company a leader in the imaging industry. Canon would make further efforts to improve products and increase profitability by raising the quality of digital engineering systems, developing technologies to enhance production efficiency and creating new key components and devices.

Fujio Mitarai, President and CEO, CANON says that "We at Canon view technology as the origin of our profit. Looking to Canon's development from 2010 through 2020, we are working to identify fields for further growth"

Future Strategy …

Fast development of new-products Refocusing on the Color printing machine market High-compression PDF conversion technology- business machines
Full-color document data typically contain 30 to 40 times more digital information than
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