Samsung Electronics Critical Thinkings Examples
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Samsung is a South Korean electronics manufacturer that has grown to become one of the most valuable corporations in the world. The company is currently a leader in global electronics manufacture and distribution with its products being known across the world. The company has achieved enormous success in modern day, particularly in the mobile phone age where the Samsung brand of phones are among the most popular in the world. A significant part of the company’s success is attributable to a well-defined business strategy as well as effective governance and leadership. Samsung aims to go above other firms like Apple to become the global leader in electronics manufacture. The company has in fact been embroiled in a never-ending battle in the smartphone industry with Apple which has for some time now managed to stay ahead of Samsung (Song n.d).
The vision statement is part of its overall business strategy. This mission statement of the company reads “Inspire the world, create the future” (Samsung Website, 2015). This means that the company is committed to inspiring the community around it through its key strengths that include new technology, innovative products, and creative solutions. This is one of the reasons why the company has invested a lot in its R&D department. The company recently lost a huge patent case against Apple where it was forced to pay over 1 billion dollars (Song n.d). This ruling seemed to have made the company’s executives re-adjust its overall strategy of watching the pioneering of creative technologies by other companies and then coming up with almost similar products. Currently, the company aims to be a creative leader especially in the smartphone market.
The high profile case with Apple exposed Samsung’s unethical behavior in its smartphone manufacturing department. However, in its other departments, the company has managed to remain hugely ethical. For example, in terms of home appliances and tools like television, irons, fridges and so on, the company faces fierce competition from similar manufacturers like Sony, LG, and Panasonic but this has affected the company and made it turn to unethical competitive practices. Even in the countries that it operates in, the company fully respects the cultures of these countries and observe all the laws (Jung, 2014).
It appears that the new goal and objective of Samsung is to become a global leader in creative products is well on course and soon, the company will be leading by miles in the consumer electronics market. This goal has been supported by the company’s heavy investment in research and development. In addition, the company has embarked on a strategy of globalization mainly relying on its brand name that has become so popular across the world (Jung, 2014).
Samsung’s success is also partly attributable to an effective governance and leadership system that has been at the forefront of promoting the company’s strategy and driving it towards the achievement of its goals and objectives (Jung, 2014). Perhaps the element of the leadership structure at Samsung that proves its effectiveness is the fact that it currently has three chief executives with two of them heading the appliances and mobile division. This diversification of leadership has ensured that varied views and opinions are brought to the table, and the best among them are chosen for implementation.
In conclusion, it is clear that Samsung Electronics is a company with a well-defined strategy as well as goals and objectives. In addition, the company has decentralized leadership and governance structure that supports its overall strategy and goals.
Samsung Website (2015). Vision. Retrieved March 29, 2015, from http://www.samsung.com/fi/aboutsamsung/corporateprofile/vision.html
Jung, S. C. (2014). The Analysis of Strategic Management of Samsung Electronics Company through the Generic Value Chain Model.
Song, H. C. (n.d). Analysis of the global smartphone market and the strategies of its major players.
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