Samsung's Sustainability and Business Strategy

The assignment delves into Samsung's operational excellence and examines how external factors like technology and economics influence its success. It explores the company's strategies to navigate globalization and technological changes, emphasizing the role of social media in customer engagement and the importance of ethical practices. Additionally, the document focuses on Samsung's commitment to reducing carbon emissions through various initiatives.

Effectiveness in this Business
world

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
a. Presenting nature, background and history of Samsung.........................................................1
b. PESTLE analysis.....................................................................................................................2
TASK 2............................................................................................................................................2
a. Globalisation and its impact upon business............................................................................2
b. Presenting how technology improved the business................................................................3
TASK 3............................................................................................................................................3
a. Presenting the target customers of a business.........................................................................3
b. Presenting two ways to attract chosen business......................................................................3
TASK 4............................................................................................................................................4
a. Role of ethics in Samsung.......................................................................................................4
b. Presenting how Samsung is combating Carbon Emission......................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Business effectiveness can be measured in the terms of profitability increases from last
years. Report main aim is to present the effectiveness of the business in today's world. Chosen
company for this report is Samsung which have diversified into many areas such as food
processing, textiles, insurance and in retail sector too. Report presents the nature, background
and PESTLE analysis of a company and also describe how technology and ethics impact upon
company.
TASK 1
a. Presenting nature, background and history of Samsung
Nature: Samsung's nature is diversified in which the next three decades, the group of
company will be deal in retail sector, insurance, securities and textiles. Hence, this shows that the
nature of the company is diversified and can deal in many sectors in order to make itself
establish at worldwide level.
Background: Samsung's headquarter is in South Korea and it produces the best products
to their customers with reasonable rates. The firm is 6th largest global brand value in market (Lee
and Shin, 2018).
Vision:The company commit to inspire their communities through their key strength and
creative solutions, innovative products and new technology and promote their new values with
core network.
Mission:Company provide the best quality of products with latest and advance
technology.
Aim: Company's main aim is to provide best quality of service as well as products to their
customers.
History: In March 1, 1938 the company started its trading company and have only 40
employees to support the business. After it the company grows and expanded to Seoul and after
the successful diversification which was the growth strategy of Samsung that further expanded
into securities, retail and insurance business (Joung, Park and Kim, 2016). Then the quoted firm
also focused into redevelopment of Korea and the central focus on industrialization. In 1960's the
company then entered into electronics and then the firm built their initial brand by offering
manufacturing television sets. In 1972 and 1979 the company start selling washing machines and
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some more electronic machine. After that the company start offering mobile set and invest in a
market which is a successful and profit earning
b. PESTLE analysis
The external factors of PESTLE analysis are:
Technology: Technology factor directly affect the company's overall performance such
that the business is deal with the electronic industry and it is quite necessary for the firm to use
new technique into the working area for further development. Hence, the company has to adopt
all new changes which may affect the operation in positive way and reach the business at further
level of success (Hanson and et.al., 2016). Hence, in this way this technology factor assist
company's aim or objectives.
Economic: If the economy of the country is fluctuating then it affects the company's
performance in adverse way such that at the time of recession, purchasing power of the
customers also decreases. To cope up from this situation, the firm also make strategy by lower
down the price of their offered products will help a business to overcome and in this way, firm
can also meet out the aim or objectives in effective manner.
TASK 2
a. Globalisation and its impact upon business
Globalization: It is an economic concept or a process through which the economies of
global and national, societies or cultures also affected through the trade, communication and
transportation in another manner. The same is also done with Samsung. For example:
 The competition in a market also because of globalisation and as a result, it affects the
system into positive manner such that they start producing the best quality of products as
compared to others (Bende-Nabende, 2017). There is a tough competition between
Samsung and Apple that has also raised the new market and as a result, both company
provide the best customer service that leads to enhance goodwill to survive in this
competitive world. Hence, this creates positive impact upon business.
 Globalisation also affect the positive effect on culture and to complete the need of their
customers, Samsung also producing the best quality of products to their customers and
welcome people from various background to create new cultures that also lead to societal
growth.
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b. Presenting how technology improved the business
New technology such as uses of Cloud computing also help a business to move some of
their operations to a third party server and that is what Samsung is also doing and this facility or
smart technology help a quoted firm to raise their brand image in market. The advance
technology also allow a firm to access resources which are cost prohibited and apart from this,
this also increases the ease such as better connectivity help to stay connected with each other
(Goos, Manning and Salomons, 2014). That is what Samsung also done, beside this the use of
advance technology such as use of social impact in order to stay connected with the team or
customers so that the firm also realizes the need of their customers.
TASK 3
a. Presenting the target customers of a business
The target customer of Samsung are ranges from the normal day workers to the industrial
standard peoples. Usually the firm also target the customers whose age is in between 25 to 50 or
even older because they have an ability to use the product and then offer them into a market. For
Samsung this is a target market and for them, the firm has to offer the market such as smart
phones, smart television and some household cleaning equipment.
Apart from this, the company also target teenagers whose age is in between 14 to 25 and
provide them smart phones because they are mostly technology comprehend. It has been
analysed that this age group also have the spending powers and they invest lot on purchasing the
gadgets as per their need.
b. Presenting two ways to attract chosen business
Two ways to attract the customers are as follows:
 Social Media: Using promotional tool such as social media which is considered the best
and effective tool in order to attract wide range of customers. In today's generation,
almost half of the people also uses social and digital marketing in order to keep update
themselves. By regular updates to their new products and post on the wall of Facebook
and Twitter regarding the latest discount offers will help to keep interacting their
customers (Levinthal, 2017). Therefore, social media can be considered the most
effective way in order to reach large mass of customers.
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 Lower down price: It is another strategy which help to attract large customers towards
them and it has been analysed that by providing the cheap suppliers that can be an
effective way to attract customers. To run in this competitive world, the firm has to apply
competitive pricing strategy to draw attention of many customers towards them (Ways to
attract customers, 2018).
TASK 4
a. Role of ethics in Samsung
Samsung also nurturing and protecting the talents and also support their employees to
perform their duties through strong sense and create talent by providing them better opportunities
for their self- improvements or growth. The company also strengthen up the organizational
culture that is free from the corruption and bribery. Further to identify or improving the
vulnerabilities to different processes, company also provide the ethical management education
programs and different campaigns for their business partners. So that they will provide new and
innovative ideas for the welfare of the company (Fisher and Shell, 2014). The company respect
the dignity as well as diversity of an individual such as it did not employ underage peoples and
also comply with all legal laws which bind the system and creates positive brand image in
market.
The company also have another ethic such as it maintain the transparency of accounts
that record all transaction and it does not involve in politics and maintain neutrality. Samsung
also refrain from illegal donation and improper dealing with governments and also respect to
laws and regulations.
b. Presenting how Samsung is combating Carbon Emission
The total carbon emission by the Samsung electronics is around 14 million tons in 2012.
that is why there is a need to reduce the emission of and it manages and estimates the scope of 3
GHG emission that help to reduce the international footprint of Carbon which is further abide
with all laws and regulations. Even to reduce the emission of CO2 while transportation of their
products, the company also design some products which are slim and uses the latest technology
in order to cope up from this situation. Firm also build the small GHG emission for controlling
the inventory and promote the suppliers in order to minimizes the foot print of carbon emission
from the country.
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CONCLUSION
By summing up above it has been concluded that Samsung perform the best operations
and the external factor such as technological and economical factor also affect the system in
positive as well as negative way. Report further concluded that company have to some strategy
in order to cope up with globalization and technologies. Further it concluded that by using social
media as a promotional tool also help to attract customers and the role of ethics which is also
different from other company.
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REFERENCES
Books and Journals
Bende-Nabende, A., 2017. Globalisation, FDI, regional integration and sustainable
development: theory, evidence and policy. Routledge.
Fisher, F. M. and Shell, K., 2014. The Economic Theory of Price Indices: Two Essays on the
Effects of Taste, Quality, and Technological Change. Academic Press.
Goos, M., Manning, A. and Salomons, A., 2014. Explaining job polarization: Routine-biased
technological change and offshoring. American Economic Review.104(8). pp.2509-26.
Hanson, D. and et.al., 2016. Strategic management: Competitiveness and globalisation. Cengage
AU.
Joung, J., Park, W. and Kim, J., LG Electronics Inc, 2016. Mobile phone.
Lee, H. O. and Shin, H. D., 2018. Corporate strategy and the competitiveness of Korean
electronics firms versus their Japanese and Chinese counterparts. In Strategic, Policy and
Social Innovation for a Post-Industrial Korea (pp. 42-57). Routledge.
Levinthal, D., 2017. Ralph Gomory Best Industry Studies Paper Award First Runner-up: The
Song Remains the Same? Technological Change and Strategic Positioning in the
Recorded Music Industry. Strategy Science. 2(3). pp.ii-ii.
Online
Ways to attract customers. 2018. [Online]. Available through:
<https://fleximize.com/articles/001027/7-steps-to-attracting-customers-away-from-your-
competitors>.
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