Howard Stringer, Sir Howard Stringer, CEO of Sony (NYSE:SNE) does not think many of his executives have enough competitive zeal. Based on the company's results over the last several years, he may be right.
According to The Wall Street Journal, the chief executive pushed his management hard by saying "I'm asking you to get mad," Mr. Stringer said in one of his most strongly worded speeches.
Stringer's call for rally caps may be a bit late. Sony has lost many of its markets to more innovative companies such as Apple (NASDAQ:AAPL). Its dominance in video games has been ended by Nintendo and Microsoft (NASDAQ:MSFT). Hundreds of small start-ups like Slingbox offer products which have strong consumer appeal. Sony now has scores of competitors in most of its businesses.
Sony's studio business also faces trouble. Not only does it compete against the movie business of several other large media companies, but the cost of making films has spiked. That makes milking profits out of each release much more difficult.
Sony may be able to move earnings up modestly, but getting back to being the world's dominant consumer electronics company is a goal beyond the company's resources.
Douglas A. McIntyre is an editor at 247wallst.com and author of the Ten Stocks Under $10 letter.
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