This reflection is about Samsung and the way it became successful in such a short time. Over the past 20 years Samsung changed from a low-cost original equipment manufacturer to a world leader in research and development, marketing strategy and design. The main aim of the article is to clarify the reasons of the success of Samsung. It is clear that the purpose of this article is to inform the readers about the causes of the success of Samsung.
The first cause is the integration of Western business practices into their own Japanese practices, so Samsung would not only be successful in Japan, but in the Western part of the world as well. Secondly the employees of Samsung were motivated with a system of promotion and salary bonuses, which resulted
…show more content…
Another plus of this article is that it is well written, in a neatly structured while using clear language and maintaining the reader’s attention. After reading the article you will have a better view of the success of Samsung, which strategy was used and how Samsung executed this strategy. Enough background information about Samsung is provided to get a good general understanding of the company. This article also clarifies that if a business wants to be globally successful, it has to adopt various practices. Therefore, this article is relevant to the content of introduction to international business because the international problems which Samsung faced are explained together with the solutions of Samsung. Furthermore, this article is quite recent (2011) and is about emerging economies, which is still current in our global economy. Another good aspect is that the authors added extra information such as images with useful content which clarifies the combination between the Western system and the Japanese system. These were, in my opinion, good aspects of this article. However, the article also has a few aspects which were not as satisfying. To begin with, nearly all of the content discussed in the introduction is covered in the following text, which is a good thing. However, there is not a lot of information about the paradox of Samsung’s
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.
The appointment of Yun Jong Yong as president and CEO of Samsung in 1996 was symbolic to the beginning of the organizations transition from its previous business level strategy of cost-leadership to its now successful implementation of differentiation. Before refocusing the direction of Samsung’s strategy it was originally making most of it’s profits producing lower-priced appliances that cost-conscious consumers were more likely to pick up if they couldn’t afford a higher priced brand (i.e. Sony or Mitsubishi). Also during that time Samsung has established itself as a low-cost supplier of various components to larger and better-known manufactures around the world. Although the organization was profitable at the time the over-all cost leadership strategy implemented by Samsung was positioned to be vulnerable to future external threats that could send the company belly-up.
Samsung is a company that has been very successful in implementing the change they needed. They followed a step-by-step approach looking into internal and external factors that could affect it. Samsung did a great job identifying the external factors by knowing their competitors, the market requirements, and the global economy. Based on this, internal changes were triggered to achieve their strategy and goals. The success in the company was a clear outcome of the well managed change process.
Samsung was founded by Lee Byuung-Chul in 1938. It was first a diversified company that included food processing, textiles, security, insurance and retail. Then later on, in the 1960s, Samsung got into the electronics. By the time passed the company started to grow in the electronics industry, After the death of its founder Mr Lee in 1987, the company was divided into several groups, one of the groups was named Samsung. after that in the 1990s the company has set up in several different countries and got the chance to expand a lot. It mostly operated in specialising of mobile phones and managed to
Samsung is a company that is founded by Lee Byung-chul in 1938, and this company is a South Korean multinational conglomerate company where their headquarters is located in Seoul. Samsung is a group that had expanded into many areas such as food processing, textiles insurance, securities and retail. However, after a few years, Samsung decided to enter the electronics industry in 1969, where their first product was a small black and white television. In 1990s, the company grew into an international corporation where they mainly concentrated on three areas, electronics, engineering, and chemicals (Mathew). Nowadays, Samsung is one of the best mobile phone corporation in the market, where the company decided to give their Samsung electronics motto that has always tried to inspire the world, and create the future from expanding their brand in the following years (Muhammad). From looking at the Samsung SWOT marketing analysis, I can definitely see that Samsung was one of the excellent company where they have lots of strengths and weaknesses. Three of the main strengths that the company has, Samsung was the world number one marketer of mobile phone where they were part of the world biggest market share in the second quarter of 2015 by 21.4%. Not only that, but Samsung has very remarkable research and design capabilities, which was one of their biggest strengths where they were able to generate and demonstrate Samsung pay, a payment app with very identical abilities to apple pay.
By the end of 2012, Samsung electronics become the largest producer of televisions and mobile phone. In order to achieve the success and the dramatic rise in consumer electronics sector, the company initiated new methods to innovate and create high quality products .
Its main marketing strategy is the key to evaluation. Samsung rapidly creates new gadgets that would satisfy the need of customers and for several years Samsung has never failed in this
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
On being operational in the global market, Samsung has been subjected to various kinds of pressure. Therefore, the focus of this report is show while formulating an international strategy how Samsung should take both environment factors into consideration that will shape their business approach. The analytical business tools namely PESTLE and Porter Five Forces will be used to understand the micro and macro environment drivers of Samsung’s strategy.
Samsung is growing at an incredible speed. It proved by time that it is a global leader in technology. To compete and win in the markets globally, they focus on how to attract the best talented persons and how to provide them a corporate culture so that each of them can surpass. Through unprecedented, well-founded products and services; skilled gifted people; a responsible procedure to business and global citizenship; and cooperation with their partners and customers, Samsung is taking the world to unbelievable new directions. One of their beliefs is that when life and technology strike and collide, you'll definitely find a great story. Samsung's philosophy is based mainly on their strong purpose for growth and permanent innovation. Samsung looks for cooperative and creative visionaries to run their companies. By attracting skillful managers and evolving their organization’s culture to support them, they encourage innovative ideas that progress technology, produce new products and improve or upgrade their customers’ everyday lives.
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.
Initially Samsung used to develop chips, devices and equipment’s for other companies. People working in the organisation were concerned about manufacturing the product instead of marketing the product. To transform Samsung from a cheap Original equipment manufacturer (OEM) to a high value added product provider, Samsung had to develop strong brand power for which they required repositioning through an increased emphasis on marketing.
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
Samsung is one of the world’s premium electronics manufactures. The estimated value of Samsung brand had risen from US$6.37 billion in 2001 to US$10.85 billion in 2003. A major factor behind this impressive growth had been Samsung’s effort to redefine itself as a vendor of cutting-edge, “gee-whiz” consumer technology. Samsung believed that repositioning the brand is a vital to the company’s future success.
Based on the articles that I’ve read up on , I’m going to talk about Samsung . Samsung is one of the world’s largest information technology company which has a very powerful influence on South Korea’s economic development . Samsung company produces some goods like , TV , Phone , computer and more . One of Samsung’s most successful products are its smartphones which has significantly dominated the world’s mobile phone industry . Samsung is currently one of the best smartphone in the market . Samsung electronic was found and made in 1969 as a unit of Samsung group . The unit was set up as a method for getting Samsung into the advance TV and customer hardware industries . By 1980 , samsung was assembling , transporting , and offering variety