The goal of private corporation
Compared with government officers, private corporation managers must pay more attention to efficiency and effectiveness of their decisions. Normally, maximizing profitability is not the primary goal of government owned enterprises and governmental planning, so that many unrealistic decisions may be resulted. It is the hidden reason that many government owned enterprises become profitable after the privatizations.
SEGA
Traditionally, the first firm to commercialize a new technology has benefited from unique opportunity to shape product definitions, forcing followers to adapt to a standard or invest in an unproven alternative. Today, however, the largest payoffs may go to companies that lead in developing integrated approaches for successful mass production and distribution. For example, SEGA, producer of Saturn, was the first company to develop home video game machine commercially, but Sony Entertainment INC., producer of Play Station, proved to be more successful at forming strategic alliance with other producers and distributors to manufacture and market its hardware and software. Because consumers had more choices on Play Stations games, they seldom bought SEGA Saturn. By the end of the 1990s, Play Station dominated the home video game market while SEGA Saturn was no longer in production.
Financial and Economic Crisis
The financial crash of October 1987 and the Asia Economic Crisis in 1998 demonstrate that the worlds capital markets are more closely integrated than ever before and that events in one part of the global village may be transmitted to the rest of the villagealmost instantaneously.
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