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Globalization has had far reaching effect on the success of companies and business firms. It is a stark reality that affects virtually business organizations of all sizes, and this has become profound in the 21st century. In order to survive in the current turbulent environment, companies must confront with the forces of globalization by adopting better strategies. Panasonic is one of the famous companies which have changed their strategy in order to stay put in the competitive environment. The company practically invented a superior ruggedized PC space in order to attract and retain more customers in the market. The company adopted this new technology with its line of Toughbook notebooks. In 2009, the company realized that Toughbook notebooks had been widely used by construction and law enforcement institution. So the company shifted to a more revamped version of the ruggedized PC which was introduced in the form of H1 tablet. This invention was welcomed in the health sector in many countries of the world.
Panasonic is a well established business entity with clear mission and vision. On global basis, the company is committed and dedicated to securing healthy future of the people. According to the company’s founder, Konosuke Matsushita, Panasonic is committed to people than mere technologies. The company’s mission is “To sharpen our competitive advantage by drawing on the strengths of diverse work force in order to enhance innovation, growth and customer satisfaction” (Panasonic Corporation 2011). Its vision is “The best partner for Growth”. Mission and vision are help Panasonic set a clear and understandable direction for itself, employees, investors, customers and partners. The concepts are worthless if they are not supported by employees and other stakeholders of the entity. Therefore, proper communication of mission and vision are paramount. Panasonic engages its employees and the public when creating its mission and vision. They are invited to share views and ideas until a consensus is reached without groupthin.