Nikon Pest Analysis
Nikon is a Japan-based designer and manufacturer of high-quality electronic imaging equipment, most notably cameras. The name Nikon should be familiar to anyone who has even basic knowledge about cameras and imaging technology. In particular, their lineup of DSLR cameras is recognized as one of the best in the world for digital photography. Yet, as in any technology-based industry, Nikon has its challenges to deal with. The following PESTEL analysis is an outline of the factors that impact these challenges.
Political
Japan’s political environment is very stable and has been for a long time. The country had encountered some hard times during the 1990’s but nothing to seriously affect the operational strength of its governmental system. …show more content…
Married couples often think long and hard before having a child because of time and money constraints. Also, many prospective parents must juggle multiple jobs while remaining on a waiting list for daycare for their children (Suzuki, 2017). Many Japanese are well-educated but this is paid out of their own pockets in the case of higher education. The dominant religion in Japan is Shinto, but it is not a religion that is followed with great diligence beyond birth/death rituals and special holidays. Consumerism is an aspect of Japanese culture that works in Nikon’s favor, and given what people spend on personal hobbies and obsessions, it isn’t surprising that couples think twice about starting families. Japan’s leader Shinzo Abe is working with his team on legislation to make daycare and healthcare more affordable, but more work needs to be done. Something that has not changed is the people’s extreme work ethic.
Technological
This is an area of major concern for Nikon, because the electronics industry is ever-changing and updating. The advent of smartphones and their emerging camera technology has all but destroyed the compact digital camera market. Yet, Japan is still rightly recognized as a leader in technological development, especially in electronics (Fingleton, 2015). Simply being based in this environment will help Nikon maintain some technological advantage. If Nikon is to thrive as a whole, it must embrace new opportunities that emerge in different technology
Political
Japan’s political environment is very stable and has been for a long time. The country had encountered some hard times during the 1990’s but nothing to seriously affect the operational strength of its governmental system. …show more content…
Married couples often think long and hard before having a child because of time and money constraints. Also, many prospective parents must juggle multiple jobs while remaining on a waiting list for daycare for their children (Suzuki, 2017). Many Japanese are well-educated but this is paid out of their own pockets in the case of higher education. The dominant religion in Japan is Shinto, but it is not a religion that is followed with great diligence beyond birth/death rituals and special holidays. Consumerism is an aspect of Japanese culture that works in Nikon’s favor, and given what people spend on personal hobbies and obsessions, it isn’t surprising that couples think twice about starting families. Japan’s leader Shinzo Abe is working with his team on legislation to make daycare and healthcare more affordable, but more work needs to be done. Something that has not changed is the people’s extreme work ethic.
Technological
This is an area of major concern for Nikon, because the electronics industry is ever-changing and updating. The advent of smartphones and their emerging camera technology has all but destroyed the compact digital camera market. Yet, Japan is still rightly recognized as a leader in technological development, especially in electronics (Fingleton, 2015). Simply being based in this environment will help Nikon maintain some technological advantage. If Nikon is to thrive as a whole, it must embrace new opportunities that emerge in different technology