MT460 Unit 4 Assignment_Kevin Mahler

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STRATEGIC ANALYSIS REPORT F UJIFILM Kevin Mahler 1/6/2024 MT460- Strategy and Policy
TABLE OF CONTENTS Contents Strategic Analysis Overview ___________________________________________________1 Analyzing the Internal Environment ____________________________________________3 SWOT Analysis ______________________________________________________________4 Analyzing the Competitive Environment _________________________________________6 Analyzing the External Environment ____________________________________________7 Conclusive Remarks __________________________________________________________8 References __________________________________________________________________9
REFERENCESREFERENCES Strategic Analysis Overview Researching the business environment in which a company functions is what a strategic analysis is all about. When researching the strategic environment in which a company operates, the SWOT analysis is a powerful tool. A company's future is charted using data gathered from both internal and external environmental evaluations. In this document, Fujifilm will conduct its strategy and gather business intelligence. There will be an abundance of business-related summaries and analysis offered throughout this paper. 1. Uses of Strategic Analysis Tools in Business Periodically, a business should assess how both internal and external factors are influencing its goals and strategy. Businesses can accomplish this by making use of tools such as Porter's Five Forces model, PESTLE analysis, and SWOT analysis. These documents outline the current financial status, potential tactics, and long-term goals of a corporation. If executed correctly, this study has the potential to motivate businesses to be more innovative while also improving organizational performance. Strategy "allows you to have clarity of the internal positive attributes of the organization that are under control," as stated by Bhat (2023). By identifying what works, a company can focus on improving those areas and then implement that strategy elsewhere it makes sense. 1.1. Purpose of Strategic Analysis Strategic analysis is useful for organizations because it allows them to develop a strategy that is in line with their mission and vision, which in turn helps them achieve their goals. Strategic analysis is employed throughout the planning phase to gather pertinent data, establish priorities and objectives, and formulate enduring business strategies aligned with the organization's mission and vision. This study also examines the effectiveness of current strategies and identifies alternative strategies in case the present one fails. After the completion of the review and planning process, strategic analysis is employed during the implementation phase to reevaluate and devise alternative courses of action in the event of failure of the existing strategy (CFI Team, 2023). 1.2. Internal versus External Analysis Essentially, this refers to the company's strengths and areas for progress. Managers use external analysis to evaluate the possibilities and risks in the market, which ultimately impact the company's competitiveness and available options. According to MindTools (n.d.), an external analysis looks at how factors unique to a company's industry affect internal operations, whereas an internal analysis looks inward. 1.3 Building a Future-Oriented Strategy Organizations must engage in strategic thinking to establish future objectives that will lead to a sustained competitive advantage and success in the long run. Effective strategies enable firms to predict their future success or failure by analyzing their existing activities and operations. Short-term strategies aim to optimize the use of resources and align current plans and objectives to facilitate the achievement of long-term goals. A company's immediate Page 1
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REFERENCESREFERENCES tactics should ultimately result in sustained profitability over an extended period. In addition to not going overboard in terms of money and resources, a company's goals and strategies should align with its purpose, vision, and mission (MindTools, n.d.) 1.4 . Internal Analysis Use Cases The SWOT and Porter's Five Forces models are two examples of the internal analytical tools used by managers to assess the opportunities, threats, weaknesses, and strengths of their organization. The areas where a company excels or may use some improvements are known as its strengths and weaknesses. Among these areas are the following: organizational culture and structure, strategic, operational capability and efficiency, financial, human, and intellectual resources. According to MindTools (n.d.), Porter's Five Forces model can be used to determine a company's strengths by examining its value-creating activities. 1.5 External Analysis Use Cases Examining the difficulties faced by competitors is the goal of the five forces analysis. Strategic group analysis narrows the field by concentrating on subsets of these competitors that employ similar tactics. One way to further refine SWOT analysis is to use it on a single firm. The SWOT analysis is a tool for identifying the advantages and disadvantages of a business. The next step is to use this to find opportunities and hazards. 1.6 External Analysis Use Cases The PESTLE analysis considers the many external factors that might affect a company, such as governmental policies, economic conditions, and the natural environment. An effective tactical tool for examining and foreseeing external effects on a firm or department from several perspectives is the PESTLE analysis (MindTools, n.d.). Market segmentation, new competitor risks, and replacement goods and services risks can all be examined using this. Once the corporation has this information, they can adjust their products to better suit the customer's wants. Page 2
REFERENCESREFERENCES Analyzing the Internal Environment 2. Analyzing Resources and Capabilities According to Fujifilm's resource and capability audit, the company has a lot of money, people resources, a distribution network, a fleet of vehicles, and a large inventory. The group is competent in coming up with plans and creating a competitive advantage that lasts. A VRIO analysis looks at how a company's assets affect its standing in the market and the advantage they could give over competitors. When a business does a VRIO study, it looks at its resources and how valuable, rare, imitable, and exploitable they are in relation to the company's internal competitive advantages (MindTools, n.d.). Resource: Research and Development Valuable? Rare? Costly to Imitate? Is a company organized to exploit it? Yes Yes Yes Yes Competitive Implications: Sustainable competitive advantage Capability: Strong Human Resource Management – Employees Valuable? Rare? Costly to Imitate? Is a company organized to exploit it? Yes Yes Yes Yes Competitive Implications: S ustained competitive advantage Through its dedication to R&D, Fujifilm has created a lasting edge in the market by consistently releasing innovative products that cater to changing consumer tastes. The corporation has prioritized the establishment of a staff that embraces diversity and inclusion. The corporation has a global workforce of 73,878 employees (Mergent, 2023). Page 3
REFERENCESREFERENCES This assessment of Fujifilm is found from research that demonstrates the company's efforts in enhancing cost reduction strategies, establishing a robust value chain, and ensuring timely product delivery to consumers. The corporation has a workforce of about 73,878 individuals, collaborates with many suppliers, has more than 273 consolidated subsidiaries globally, and works in four separate business divisions (FUJIFILM Holdings Corporation, n.d.). 2.1. Value Chain Analysis Fujifilm recognizes, through the application of Porter's value chain analysis, that varying degrees of strategy are required to accomplish organizational objectives in an effective and efficient manner. By performing a value chain analysis, Fujifilm can improve various critical factors such as customer satisfaction, product quality, and overall performance, which are instrumental in sustaining the company's competitive advantage (MindTools, n.d.). When assessing Fujifilm's value chain will enable the company to assess the activities that are contributing value and those that require enhancement. Fujifilm primarily focuses on the manufacturing and delivery of products to its consumers as its major value chain activities. Inbound logistics, which includes the processes of receiving, storing, and distributing components and raw materials to different departments within the company, is examined as part of the supply chain management study. Analyzing Fujifilm's operational activities means looking at the steps used to turn raw resources into manufactured and serviced goods. Running machinery, packaging, and shipping commodities, evaluating product quality, fixing equipment, and performing maintenance are all part of operations. The company can keep its competitive advantage and increase productivity, efficiency, growth potential, and profitability by analyzing these methods by analyzing the structure and resource allocation of its outbound logistics operations, the company can gain a competitive edge, achieve its objectives, and ensure customer satisfaction. Advertising, promotions, pricing tactics, selecting markets, and establishing long- term connections with market participants are all part of sales and marketing activities. Considerations such as the company's market position, brand image, and objectives should inform the development of the marketing plan. To build client loyalty, Fujifilm should focus on four areas of service: customer assistance, return policies, time to response, and corporate social responsibility credentials. Page 4
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REFERENCESREFERENCES Support operations are more important to the firm than primary activities. Fujifilm engages in support activities that involve procuring essential resources to produce finished goods, including raw materials, machinery, equipment, and supplies. Focus areas include quality assurance, accounting, finance, planning, and strategic management; research and development pertaining to the external milieu, including legal hurdles and governmental laws; and strategic management. Hiring, training, allocating resources, monitoring quality, controlling costs, and assessing performance are all part of human resource management. 2.2. BCG Growth Matrix One strategic tool that management employs to rank companies according to profitability is the BGC Growth-Share Matrix. Strategic decision-makers rely on the BCG matrix, which uses market share and growth rate to assess a company's competitiveness and the attractiveness of the marketing the BCG matrix, companies are classified as cash cows, stars, question marks, and pets based on their market share and growth rate. Cash cows have low growth rates but a significant market share, while stars have high growth rates and a large market share. Pets, on the other hand, have low growth rates but a low market share. If you want to know if a company is a cash cow or if there are opportunities that are worth investing in because of their future potential, you may use the first two categories to evaluate market expansion. Question marks indicate prospects with star potential, while pets indicate business units that should be terminated or disposed. The two remaining categories evaluate market share (MindTools, n.d.). With the help of the BCG matrix, Fujifilm may improve their strategic decision-making, resource allocation, and competitiveness. This requires breaking the company down into four separate levels: business units, product mix, product line, and product item. Then, using the results from each level, develop strategies that are suitable for that category (MindTools, n.d.). 2.3. Financial Health Page 5
REFERENCESREFERENCES Profitability Ratios How Calculated What It Shows Gross profit margin Sales revenues − Cost of goods sold Sales revenues (22,479,000 - 13,283,000) = 9,196,000 (9,196,000 / 22,479,000) *100 = 0.4090 or 40.90 % Shows the percentage of revenues available to cover operating expenses and yield a profit. Operating profit margin (or return on sales) Sales revenues − Operating expenses Sales revenues (22,479,000, - 20,435,000) =2,044,000 (2,044,000/ 22,479,000) *100 = 0.0909 or 9.09 % Shows the profitability of current operations without regard to interest charges and income taxes. Earnings before interest and taxes is known as EBIT in financial and business accounting. Net profit margin (or net return on sales) Profits after taxes Sales revenues (1,809,521/ 22,479,000) = 0.0804 or 8.04 % Shows after-tax profits per dollar of sales. Total return on assets Profits after taxes + Interest Total assets (1,809,521 + 2,316,000) = 4,125,000 (4,125,000 / 3,955,000) *100 = 1.042 or 104.29 % A measure of the return on total investment in the enterprise. Interest is added to after-tax profits to form the numerator, since total assets are financed by creditors as well as by stockholders. Page 6
REFERENCESREFERENCES Profitability ratios are crucial in assessing the financial well-being of firms, which is vital for achieving company success. Organizations employ diverse ratios to assess organizations' capacity to fulfill financial responsibilities and generate profits. Fujifilm's financial statistics demonstrate its ability to fulfill financial responsibilities and create a profit. The company's gross profit margin stands at 40.90%, signifying that for every $1 of sales revenue, the company earns $40.90. The operational profit margin of Fujifilm is 9.09%, It stands for the remaining profit after subtracting the expenses of production for the business. Fujifilm's net profit margin ratio is 8.04%, indicating the percentage of sales revenue that remains after deducting all expenditures. The net profit margin is a crucial indicator of profitability. It illustrates the profitability of Fujifilm by quantifying the amount of profit generated for every $1 in sales. Return on assets (ROA) provides investors with insight into the effectiveness of Fujifilm's management in utilizing resources and assets to produce profits. Page 7
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REFERENCESREFERENCES SWOT Analysis 3. Use and Purpose of the SWOT Analysis A strategic assessment method that firms employ to evaluate both internal and external aspects that impact their competitive position in the market is called a SWOT Analysis These factors include strengths, weaknesses, opportunities, and threats. SWOT Analysis enables firms to eliminate inefficiencies and concentrate on critical areas. It has the capability to identify specific segments within the market and cultivate professional paths, capitalize on pertinent prospects, and handle any risks. Strengths refer to the distinct advantages that a firm have in the market, setting it apart from its competitors and enabling it to outperform them. Weaknesses refer to aspects that can be enhanced, avoided, or result in a decline in sales. Opportunities encompass emerging trends, technical advancements, shifts in government policy, social patterns, and many options that present potential advantages. Threats refer to the challenges that a company may encounter, such as actions taken by competitors that give reason for concern, financial issues like bad debt or cash flow problems, or vulnerabilities that expose the company to potential harm. SWOT Analysis facilitates the organization and coordination of departments by assessing their relevance and prioritizing them to effectively manage expenses, establish a competitive advantage, and generate profits. SWOT ANALYSIS STREGNTHS WEAKNESSES Increased operating efficiency Strong focus on R & D and Innovation Strong Financial Performance and Strategy Drug manufacturing business still in the uncertainty realm Quality control issues in production OPPORTUNITIES THREATS Growing demand for medical imaging products Increasing demand for digital cameras Intense competition Economic uncertainty Cybersecurity risks 3.1. Organizational Strengths Page 8
REFERENCESREFERENCES Fujifilm can differentiate themselves from the competition and get an advantage over its rival thanks to its numerous strengths. Increasing operating efficiency each year is just one of Fujifilm’s strengths. This significant expansion is encouraging since it shows the company is working to improve its operations and cut costs to boost its profits. The dedication of Fujifilm's leadership to R&D and innovation has allowed the company to stay ahead of the competition. A strong financial performance and strategy is a significant strength for Fujifilm. In the fiscal year ending on March 31, 2023, the company had an increase in sales across all business areas. Notably, the healthcare segment emerged as the largest in terms of both revenue and operating income. 3.2. Organizational Weaknesses One of the weaknesses of the Fujifilm company is that the drug manufacturing business is still in the uncertainty realm. The pharmaceutical sector is currently experiencing considerable volatility and ambiguity because of variables such as inflation, geopolitical tensions, and evolving work methodologies. To thrive in this context, pharmaceutical businesses must prioritize the cultivation of a more strategic, enduring, and cohesive approach to operations strategy. Furthermore, there have been documented instances of quality control problems during the manufacturing of Fujifilm cameras and lenses. These concerns indicate that Fujifilm should enhance its quality control procedures to guarantee that its goods adhere to the utmost standards of quality and dependability. 3.3. Opportunities (Industry & Market) The growing demand for medical imaging products and the increasing demand for digital cameras are two of the opportunities that Fujifilm has going for them. The surging demand for digital cameras is anticipated to grow because of the increasing appeal of social media and a growing population of individuals with a keen interest in photography. Fujifilm is widely recognized for its exceptional camera manufacturing and is strategically positioned to capitalize on advantage of this current trend. The rising need for medical imaging products is driven by the aging population and the rising prevalence of chronic diseases. Fujifilm is strategically positioned to benefit from this trend due to its significant presence in the medical imaging field. 3.4. Threats (Industry & Market) Intense competition is a threat for Fujifilm since it operates in a highly competitive market. This kind of competition has the potential to result in intense price wars, decreased profit margins, and a decline in market share. Fujifilm is required to adhere to a diverse set of regulations and standards due to the extensive regulation of the pharmaceutical business. Fujifilm's company could be significantly affected by the danger of economic uncertainty stemming from variables such as inflation, geopolitical tensions, and evolving work practices. Fujifilm is susceptible to cybersecurity vulnerabilities, including data breaches, hacking incidents, and cyber-attacks. Page 9
REFERENCESREFERENCES Analyzing the Competitive Environment 4. The Five Forces Framework Michael Porter created the Porter's Five Forces model to help businesses evaluate potential strategies for improving their standing in the market and getting an advantage over competitors. Rivalry between suppliers and buyers, as well as the danger of replacement and new entrants, are the five forces at work. There are dangers of new competitors and substitute products. Companies can gauge their competitive strength in relation to their competitors by evaluating these aspects using Porter's Five Factors Framework. Both vertical and horizontal forces make up Porter's framework. Potential threats from new entrants, established enterprises competing with one another, and replacement products and services are all factors that the horizontal forces consider. The vertical forces measure the strength of the negotiating positions of the buyers and the sellers. The extent to which these factors affect a company's bottom line over the long run is sector-specific. As stated by MindTools (n.d.), they allow businesses to gauge how they stack up against the competition. 4.1. Diagnosing the Competitive Condition Conducting an analysis, analyzing the data, and making a judgment on the company's market position in relation to competitors are the steps involved in diagnosing its competitive status. Since these elements influence Fujifilm's market attractiveness and competitive position, evaluating them is vital. This assessment considers several factors, including Fujifilm's size, resources, competencies, product range and quality, marketing tactics, opportunities, objectives, intentions, conduct, and competition. To improve strategic decision-making and attain long-term success, Fujifilm employs Porter's Framework (MindTools, n.d.). 4.2. Five Forces Analysis The Five Forces Framework is a strategic concept that facilitates the examination of a company's competitive environment. This tool is utilized to assess the advantages and disadvantages of an industry and to establish the company strategy for that industry. This study can be utilized to pinpoint areas where improvements are required in your competitive position and formulate strategies to effectively address these areas. Page 10
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REFERENCESREFERENCES FIVE FORCES FRAMEWORK 4.2. 1 Rivalry among competing sellers Intense competition amongst sellers is inherent to the Fujifilm industry and cannot be avoided. The company may encounter fierce competition from competitors, resulting in limited prospects for expansion. Fujifilm faces increased competition due to factors such as competitors focusing on the same markets and the presence of diverse market players. The implementation of assertive pricing methods and precise targeting among enterprises will result in a decrease in their profitability. 4.2. 2 Threats of new entrants Fujifilm has a significant risk of new competitors entering the market when there is a possibility of making profits, when obstacles to entry are low, when existing regulations permit it, or when it is not very challenging for new entrants to establish distribution networks. 4.2. 3 Competition from Substitute Products Fujifilm will face intense competition from alternative products and services when rival companies provide lower prices, lack product differentiation, and customers do not exhibit brand loyalty. 4.2. 4 Bargaining Powers of Suppliers Suppliers with significant bargaining power can exert influence on organizations by limiting the supply or quality of their products, or by raising prices. 4.2. 5 The Power of Buyers Fujifilm can enhance its competitive position in the market by addressing buyers' bargaining power with a strategic focus on establishing healthy relationships with customers, delivering high-caliber goods and services, and differentiating its products from those offered by its rivals. Page 11
REFERENCESREFERENCES FIVE FORCES FRAMEWORK 4.3. Five Forces Framework Analysis Results 1. Fujifilm's profitability and growth will be enhanced under the following conditions: less competition from rival firms, a high industry growth rate, highly differentiated products, targeting distinct market groups, higher costs for customers to switch vendors, or low exit barriers. 2. The risk of new competitors is decreased when there is little room for profit, more regulation, strong brand loyalty, high hurdles to entry, and suppliers are hard to come by. 3. If Fujifilm can keep its goods and services unique, keep its prices low, and keep its consumers loyal, it will not have to worry about substitute items. 4. Fujifilm can enhance its position with suppliers by implementing a strategy that involves engaging various suppliers, fostering enduring relationships with them, and cultivating a diversified product portfolio. 5.  By decreasing client concentration, increasing the costs of transferring to other suppliers, being unable to integrate backward, and reducing price sensitivity, Fujifilm can diminish buyer bargaining strength (MindTools, n.d.). Page 12
REFERENCESREFERENCES Analyzing the External Environment 5. PESTLE Analysis To evaluate the macroenvironment in terms of environmental factors, political trends, economic repercussions, social trends, technology advancements, and legal ramifications, organizations use PESTLE Analysis. The goal here is to map out the future of an organization's environment, spot promising opportunities, and alert stakeholders to impending dangers. According to MindTools (n.d.), this allows businesses to adjust their strategies to fit the changes instead of fighting them. 5.1. Diagnosing External Environment Conditions PESTLE ANALYSIS 5.2.1 Political Tax policy. Environmental Regulations. Political stability Add factors here. 5.2.2 Economic Economic growth. Interest rates. Unemployment rate and skill level of the workforce. 5.2.3 Social Age distribution. Attitudes towards career, family, and health. Consumer attitudes and opinions. 5.2.4 Technological Automation. Rate of technological change. Impact cost. 5.2.5 Legal Employment law relating to health, data protection, race, sex, disability, employment rights, and employment relations. Consumer law, such as description of goods, sale of goods, and safety of goods. Corporate law, such as company law and fair trading. 5.2. 6 Environmental Global warming. Methodologies and processes (farming, nuclear power). Stakeholder power and influence. 5.2. PESTLE Analysis Results Page 13
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REFERENCESREFERENCES 1. Changes to tax regulations may impede exports and have a major effect on Fujifilm's total profitability and international trade. Unforeseen alterations in environmental regulations might lead to environmental unpredictability and have adverse effects on the progress of the company's sector. The organization may be adversely affected by political instability, as it can discourage potential investors and erode stakeholders' confidence in both the economic and operational success of the organization. 2. Fujifilm has demonstrated the ability to thrive despite significant challenges arising from unforeseen economic fluctuations, like elevated inflation and disruptions in the supply chain, by leveraging the present economic expansion in the US. Nevertheless, the company's capacity to enhance profitability has been hindered in recent years due to the escalation of interest rates. In addition, when the labor market is advantageous, Fujifilm can capitalize on its advantages. With the rise in unemployment, the task of locating a proficient labor force grows increasingly intricate. 3. The demographic factors, including age, gender, ethnicity, and others, significantly impact Fujifilm's capacity to establish long-lasting growth and profitability. Consumers' buying patterns and behavior can be influenced by various social factors, including their views towards career, family, health, and consumer attitudes and opinions. 4. The incorporation of automation into Fujifilm's processes will remain a crucial element of its business strategies. The implementation of automation would enable the organization to effectively manage several aspects such as manufacturing, quality control, supply and demand, sales, order processing, delivery tracking, and other related sectors. Given the rapid pace of technological advancements, Fujifilm must continuously adapt to sustain its performance and preserve a competitive edge. 5. Fujifilm needs to be careful not to let legal concerns get in the way of its operations. It is not acceptable to have a lack of knowledge on consumer, employment, and business regulations. Such actions can result in significant legal ramifications for Fujifilm and impact its competitive edge. 6. Fujifilm operates in various sectors including photography, optics, office and medical electronics, biotechnology, and chemicals. Therefore, the company's ability to provide goods and services to its customers is highly dependent on environmental variables. Geographical location can significantly influence the variations in environmental standards, rules, and legislation, particularly for a transnational firm like Fujifilm. The Page 14
REFERENCESREFERENCES company's access to some international markets may be hindered by the presence of diverse environmental standards, rules, and laws (MindTools, n.d.). Page 15
REFERENCESREFERENCES Conclusive Remarks 6. Overall Conclusions 6.1. Strategic Analysis and Decision-Making To achieve its aims and goals, make informed strategic business decisions, and develop a long-term competitive edge, Fujifilm conducts a comprehensive assessment of its internal and external surroundings. There are several factors that could hurt Fujifilm's bottom line, competitive advantage, performance, and market position. For a better understanding of how it stacks up against competitors, the company should use tools like PESTLE Analysis, SWOT Analysis, and Porter's Five Forces Model. According to MindTools (n.d.), strategic analysis helps Fujifilm with resource allocation, cost efficiency, market positioning, and providing consistently high-quality products to consumers. 6.2. Opportunities for Growth. Fujifilm and similar organizations should make it a top priority to investigate all opportunities for growth inside their sector or market. One strategic tool that helps the firm spot and take advantage of opportunities is the BCG Growth Matrix. Both the organizational and corporate levels of operation are made easier by its facilitation of resource allocation. Organizationally, the BCG Growth Matrix looks at business units; at the business unit level, it assesses individual goods and services (MindTools, n.d.). 6.3. Risks in the External Environment Fujifilm is exposed to several external environmental hazards that may result in divestment, including political instability, policy changes, inflation, labor market fluctuations, legal challenges, economic downturns, and environmental problems. Fujifilm must exert consistent effort to ensure stability and concentrate on elements that can displace successful enterprises. Although challenging, Fujifilm recognizes the need of undertaking this endeavor to attain sustained performance and establish a competitive edge that ultimately results in long-term profitability (MindTools, n.d.). Page 16
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REFERENCESREFERENCES References Bhat, A. (2023, May 29). What is strategic analysis?. QuestionPro. https://www.questionpro.com/blog/strategicanalysis/#:~:text=Strategic%20analysis %20allows %20you%20to,replicate%20the%20strategy%20wherever%20applicable. CFI Team (2023, March 14). Strategic Analysis. Corporate Finance Institute. https://corporatefinanceinstitute.com/resources/management/strategic-analysis/ . FUJIFILM Holdings Corp (NBB: FUJI Y) . (n.d.).   https://www.mergentonline.com/companydetail.php?compnumber=3506# Fujifilm holdings Corporation . (n.d.). 富士フイルムホールディングス株式会 https://holdings.fujifilm.com/en MindTools (n.d.). Analysing the Financial Performance of Organisations. https://app.mindtools.com/#/purdueuniversityglobal/s/w95l83kcfi . MindTools (n.d.). BCG Growth-Share Matrix. https://app.mindtools.com/#/purdueuniversityglobal/s/q0oqjil2p6 . MindTools (n.d.). Environmental Analysis. https://app.mindtools.com/#/purdueuniversityglobal/s/8tjwkvx5f7 . MindTools (n.d.). Porter’s Five Forces. https://app.mindtools.com/#/purdueuniversityglobal/s/pwqycs9b8u . MindTools (n.d.). SWOT Analysis. https://app.mindtools.com/#/purdueuniversityglobal/s/u1n3w5hx7k . Page 17