Balanced Scorecard Study - Samsung

Samsung served as the manufacturing industry and international company analyzed. Samsung has been in business for over 70 years and manufactures products for diverse markets, including: digital media, high -tech electronics, home appliances, information technology and telecommunication. Samsung's motto is to "inspire the world and create the future" by leveraging three key strengths: new technology, innovative products and creative solutions.

There are many competing brands of smart phones and Samsung has reported a decline of profits in 2014. Information from GSM arena shows than Samsung released 54 new phone models in 2014 , compared with 24 by HTC , 11 Motorola and 2 by Apple, leading to increased production costs and lack focus on a specific customer segments thereby losing some of its competitive advantage (GSM Arena , 2015).The lack of popularity of its own OS (Tizen ) and dependence on Google’s Android platform makes it vulnerable on google to develop an “ecosystem”. There are component integration issues as well as loss revenue from potential App sales (Strategic Mangement insight , 2015). Negative publicity from litigation due to patents are likely to continue as technology patents are vague and Samsung with is large portfolio is likely to infringe on some of the patents (Tibken, 2014).

The customer perspectives strengths are that these measures focus on customer satisfaction. These measures address the link between customer complaints and profitability. It is expected that as complaints are reduced, sales will increase. The weaknesses of the customer perspectives are that the focus on customer complaints does not address the silent customers; that just go to a competitor when they become dissatisfied with Frieda Fizz products. These measures are appropriate for managers’ focus on product quality and the related sales growth. Managers may want to expand the customer perspective measurements to include measures on customer service as they expand into more geographic areas.

In the modern world of technology, many different companies are attempting to secure their own ground in a particular market. Many companies work in many tech fields & some company focus on software, some on mobile phones, others on television but one of the most recognizable names in the technology field is that of Samsung.

Today Samsung has evolved into a group of companies unmatched by others in its range of industries and performance. It is now globally focused and responsive to the needs of each market, and more committed than ever to true innovation. The group’s three core business sectors are electronics, finance and trade and services.

In the year of 1990s Samsung has expanding and globalizing their business especially in electronic, particularly mobile phones and semiconductors, have become its most important source of income. Samsung have been operating over 50

are expected to drive improvements in the execution of internal processes which in turn lead to customer

Figure 2 is drawn from an article written by Dr. David Norton. The brief article explained the need for balancing the number

Samsung Electronics philosophy is to impact its heritage of technology innovation to change our societies and human life, and to provide new chances to more people by taking care of the environment for the upcoming generations. According to this philosophy, they established three strategic ways for pursuing corporate

Samsung desires to be the leader in technological development and standardization in the global networks. In their DS Division they want to be produce differentiated products and to maintain their number one position. With it’s success in the electronics business, Samsung has been recognized globally as an industry leader in technology and now ranks as a top 10 global brand. Also, in 2014, Samsung had the opportunity to be by Intrabrand’s “Best Global Brands 2014” report as number seven.

The internationally recognized South Korean electronics company, Samsung Group, is accredited in the Fortune global top company but 2.5 decades prior, the company was initially just a small domestic grocery store (Samsung, 2017; Lifewire, 2017). The company’s product quality, design, pricing, and technology has not always been known as it is known in the past decade. Founder, Lee Byung -chull, diversified his products from food, textile, building, wool, insurance, security, retail and finally to the success of electronics in the 1960s; before becoming one of the top five most powerful Asian company in the world. Samsung’s history is particularly longer than most companies but the development towards their success is intriguing; revealing multiple setbacks including the Korean War, and a long-occurring transformation before championing one of the best products in the electronics industry. Eventually, Samsung reached global success, and through the Asian Tortoise Route, the brand Samsung has become a prominent face of South Korea. The Asian Tortoise Route was pioneered by Japanese companies namely Toyota, Honda,

Customer perception of an organization is asked by a customer, if they like a company, if they identify with the company, and whether they are associated with the value of the company surveys generally assessed. If customers are not satisfied, they will ultimately find other suppliers, to meet their needs. Even the current financial picture may look good, but from this point of view the future of leading indicators fell, thus underperforming.

Company Background: Samsung is a South Korean multinational company those starting its business as a small trading company and right now becoming world largest corporation. The company deals with its business in several sectors such as advance technology, finance, petrochemical, semiconductors, plant construction, skyscraper, medicine, fashion, hotels, chemical and others. The company was established in 1969 in Suwon, South Korea and known globally for its electronic products (Kelly, 2011). The company is manufacturing several latest technologies, electronic appliances such as mobile phones, tablets, laptops, TVs, refrigerators, air conditioners, washers and other products. The company runs its operations and sales its products in 61 countries with approx 160,000 employees in all over the world (SAMSUNG, 2014). Moreover, the company acquired the position of the world biggest IT maker in 2009 by beating the Hewlett-Packard (HP) previous leader. Its sales revenue in the segment of LCD and LED is the highest in the world. Furthermore, Samsung also becomes world leader in the segment of tablets, mobile phones and gadgets.

It is the goal of every business to expand beyond its shores and to be globally recognized. One of the key parameters that aid expansion is customer satisfaction. In order for Werner to become a globally recognized and formidable brand, it must be able to have satisfied and repeat customers in the trucking industry. A yardstick that is used in measuring customer satisfaction or dissatisfaction is the “Customer satisfaction index”. For this process to be effective, customer feedback is very important, as it helps in evaluation business processes, customer relationship, and value of service, potential client base, or even siting a new outlet.

In my conclusion, I would like to emphasize that SAMSUNG has a quite distinctive way to carry on its business. From the part of visible aspects, it has a different way to build up its image by emphasizing the blue color, while other competitors such as SONY and APPLE focus on the shape of logos to do the same thing. From another aspect of organizational culture, the invisible aspects, we can find its effort to be adjusting well to a society where the organization affects. It tries to contribute its profit to the society by offering an educational service, a welfare service and even some public performances and so on. Although, it has been obvious that such a large co-operation company like SAMSUNG has a responsibility to contribute its profit to make the society better, SAMSUNG`s profit contribution policy is very well-organized so, it can be a very own aspect that SAMSUNG has. Lastly, its managerial structure has an incredibly unique way to communicate to each other and get a new idea from people. It has a very strict hierarchical structure that is carried out by people in the organization all the time, but