Sumsung Company

2027 Words Oct 24th, 2015 9 Pages
Custom Samsung External and Internal Environment Analysis essay writing service. Samples, help
Introduction
Samsung is a Seoul-based electronics company that deals with television sets, cameras, personal computer items, print solutions, cell phones, home appliances and other accessories. Having been started in 1938 as a Korean export business, it has grown to be one of the leading multinationals. The multinational company’s vision is to "Inspire the World, Create the Future." (Samsung, 2013). The company’s philosophy is “to devote our talent and technology to creating superior products and services that contribute to a better global society” while its core values are people, change, excellence, co-prosperity and integrity. The company
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Therefore, if there are drastic changes in the global technology, the changes would directly affect the business, especially manufacturing. Depending on the nature of the change, these effects may be either positive or negative. For instance, the development of the touch-screen technology on a global scale has led to the manufacture of Samsung Galaxy (Michell, 2010). The other effect is that development of such technologies would mean that even the competitors are able to develop similar products thus saturating the market. Secondly, social factors are likely to lead to changes in consumer tastes, preferences and attitudes. According to Lorat (2009), change in consumer attitudes towards a product in the negative always reduces sales thus revenues and profits. 2. Significant forces of competition and how the company recently addressed them
In any industry, competition is inevitable. Due to technological advancements, the electronics industry has become one of the most competitive industries in the world. In a bid to understand the anatomy of competition, Michael Porter proposed analysis the following factors: threat of substitutes, threat of new entrants, supplier power, buyer power and the degree of rivalry (Lorat, 2009). However, there exists a differential weight in which these factors affect companies in different in industries. In the case of Samsung, it is proposed that degrees of rivalry and buyer power are the most significant competition factors for
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