Samsung Strategy

Describe goals and objectives as they apply to business. pg 181-182; wk 6 lecture, pg 1

Strategy is a set of complicated tactics formulated by the executives of a company directed towards the achievement of company’s goal (Salmela, 2002). It is about all the path ways that a company would follow to reach its ultimate goal. It is a company’s strategy which helps to identify what it does better than the other companies in the industries, which may be different from what it does best. For successful strategy formulation and implementation, a company should know the needs of customers and should have knowledge of its competitors. Through a good strategy a company would identify that opportunity which makes it different from the others (Thompson, 2005).

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.

The core competencies of any firm is to satisfy the customer needs and preferences so that it can gain more returns. This is achieved through change of business strategies to those which enable the firm become competitive through exploitation of core competencies in the individual products and services. Such strategies place a firm in a leader position in the industry it operates in relation to competitors as well as the five competition forces. To maximize profitability and boost competitiveness in the mobile phone and Smartphone industry, Apple and Samsung should employ strategies that ensure that they reach more consumers in the emerging markets.

Strategy is defined as a plan of action designed to achieve a major objective. This is the overall operations to achieve a goal. During war the military has tactics which come from the art of planning. A strategy is the guide for the individual, business, or organization to achieve the objective at hand. An individual should map out and meditate in advance to reduce the chance of failing. So, for FedEx, it could be to map out routes to make sure delivery personal does not overlap each other. A strategy is a compass that guides a person along to make sure they achieve their objective.

In this TMA I'm going to discuss the strategy of two firms. The first one is Samsung which provide a strongly performance and on the other side Nokia which is performing in a weak way. By choosing Samsung as a firm that performing strongly we have to discuss its structure. Any organization has to set the main points of structure and its key point to develop a successful organizational structure. As Samsung set its main points as the size of the company, the type of the industry performance and the marketing strategies. Also Samsung set the key points as the division of labor, span of control, departmentalization, formalization and chain of command. By discussing the key element it shows the structure of the firm as the first element is formulization which the way the firm is guided by culture, rules and lows. Moreover at Samsung electronics allow the employees are divided into levels and all of run hair to the decision of the manager without any challenges. The second key element is that the structure of Samsung electronics is centralized which means that the lower level managers do not have the power to take decisions. The decision making process is produced from the tow level managers passing through the ground level of mangers. Which that the decisions which are taken are well combined the goals and objectives of the company by avoiding any risks. Moreover Samsung has a large degree of span of control. Span of control is the number of

It checks how the different activities of the business support the corporate and business strategies. Such corporate planning at the operational level is means orientated and most activities

Samsung is a South Korean multinational company which is headquartered in Seoul, South Korea. It has number of businesses under its own brand name. Samsung was founded by Lee Byung-chul in 1938.

P2: A report to describe the purpose of setting aims and objectives for different businesses.

“Strategy can be thought of as a long term plan of action or execution designed to achieve particular objectives, such as achieving competitive advantage for an organisation. It reflects the values, expectations and goals of those who are in power within the organisation.” (RDI course material-Strategic Management module; Unit 1-Nature and scope of strategic management; Lesson 1-Nature)

Samsung’s products are based more on the outlook of the smart phone market and their preference to incorporate technology that already has acceptability in the industry. Most of the smart phones of Samsung run on Android which is an open source operating system and is the most widely used mobile phone operating system in the world. Being an open source operating system, the cost incurred by Samsung is reduced significantly. Also, the compatibility with features such as Google store, allows Samsung to compete with Apple’s iTunes without having to incur the cost for developing a similar offering. This helps the company in reducing its cost as well as offer superior product offerings to their consumers. In terms of hardware technology, Samsung has the expertise in developing a number of technological products that include televisions, computers, home appliances and many similar products. The company therefore has a vintage of product development and innovation and has the perception of offering high quality products to the

Marketing is one of the important elements of every company. By applying good methods of marketing, any company is able to achieve its goals. This report focuses on how Samsung company become world’s famous by applying three strategy namely pricing,placing and promotion. secondary method of data collection was used for this report

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.

A strategy is said to be a plan that is made for the long term success of a product or brand. It is extremely important to have a strategy in order to figure out a direction towards which any company is able to focus all its resources efficiently and achieve desired outcomes. Formulating effective strategies is a considerably long process in itself that combines analysing several factors, situations and issues that are already present in a company and looking to improve on them alongside trying to implement various innovations and ideas to collectively create a direction towards which they can move and direct the resources available to them.

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.