How Globalization and Technology Changes Have Impacted the Corporation You Researched.

1355 Words Aug 4th, 2013 6 Pages
Assess how globalization and technology changes have impacted the corporation you researched.
The company researched was Universal Music Group because the music industry is ever growing and I wanted to know more about the company. As we all know, technology has been a major part of the music industry both good and bad. Technology has helped plenty of artists and hurt others. Since the introduction of the mp3 and the popularity of the IPOD device, compact disc sales have declined and more music is being released without the record company’s permission. Some may view this as a major problem to the other major record labels that distribute music globally. But some are using the mp3 to their advantage. A while ago an artist could not walk out
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First, the company will have to study the current state of the music industry and the economy as well. A struggling economy will bring record sales down, because people are budgeting their income a lot tighter and music will not be among one of the items they need to purchase. If people do not have enough money to purchase the music, chances are they will find other ways to get the audio through illegal links or burning compact discs. A struggling music industry can be caused by a bad economy, but another key factor is poor music quality. If the music is not good, then chances are the songs will not get purchased. Sales have been on the decline in recent years due to technology advances and lack of artist development is the main problems to this epidemic. The labels have been putting out manufactured music for the past few years and the consumers are unhappy. The next step is for the label to use its assets, such as an artist and labels to attract fans. More than likely, each big label company has a fair share of stars that can generate sales, so these releases need to be timed properly. Thirdly, the strategy must be selected for these stars to succeed. The final step would be for upper management of the record label, to use their highest selling acts to increase profit potential and create new trends. Universal Music Group has to come up with