Samsung Strategic Management
Added on 2019-09-30
12 Pages2208 Words432 Views
Running Header: Samsung Strategic Management1Samsung Strategic ManagementNameSchool
Samsung Strategic Management2ContentsIntroduction.................................................................................................................................................2Samsung Electronics...................................................................................................................................3Customer Target..........................................................................................................................................3Current and Desired Position.......................................................................................................................4Management................................................................................................................................................4Technology..................................................................................................................................................7Marketing and Design.................................................................................................................................7Environment and Ethical Standard..............................................................................................................9SWOT analysis............................................................................................................................................9Conclusion.................................................................................................................................................10References.................................................................................................................................................11
Samsung Strategic Management3IntroductionStrategic Management involves identifying the scopes and analyzing the important aspects ofbusiness and work towards the goals and objectives of the organization by mapping out a clearstrategy. Strategy involves leaders and managers to identify strength, weakness, opportunitiesand threat of a business and take steps to capitalize on strength and opportunities to takeorganization forward for successful accomplishment of goals and objectives. Mission and visionof an organization are long term aspects of an organization which is realized with properimplementation of strategies at various levels. Strategies are different from goals and objectivesand should not be confused with them. In simple terms, an organization takes strategy toaccomplish goals and objectives during its course of business and management operations andbuilding strategy is a never ending process. A proper strategic management reflects leaders’ andmanagers’ awareness of all the important aspects of business and effective integration ofresources to work towards goals and objectives. Strategy may change from time to time as perthe requirements depending on the current and future market; managers need to keep themselvesapprised of every business aspects and pro activity is the essence of strategy. The key factors liein determining the essentiality of sustaining existing customers and forecasting changes in futureto be ready to take steps when the changes arrive.The story of Samsung success is a perfect example of how an organization should keep itselfupdated with the changing market dynamics and build its strategy at every step to counter evergrowing competition and stay competitive in today’s business world[ CITATION Gar14 \l 1033 ].
Samsung Strategic Management4Samsung ElectronicsSamsung Electronics based in South Korea is a manufacturer of electronic devices; it mainlymanufactures television and mobile phones for consumers all over the world and its products arefull of varieties meant to serve consumers at different economic levels. In 2011 SamsungElectronics occupied the numero uno position to be regarded as the largest technology companyby displacing Apple Inc. and it has been maintained that position since then. In recent years itsmain revenues come from manufacturing of variety of smart phones catering to consumersaround the globe at every economic level. Its flagship products are series of Galaxy smart phonesand Tablets. Besides all these it also manufactures semiconductors, chips, lithium ion batteries,flash memory and hard drive for its own product and also for Apple Inc and other mobile phonecompanies[ CITATION Hay13 \l 1033 ].Customer TargetSamsung Electronics targets individual consumers as well as business consumers all over theworld. Recently Samsung Electronics have been targeting various government agenciesthroughout the world including white house members as they are contemplating to switch toother mobile phone company. Samsung Electronics also serves television consumers with widerange of products all over the world. In 2011 when it overtook Apple Inc to become the largesttechnology company it spent over $400 million in advertising which was $75 million more thanApple’s advertising expenditure. In the year 2013 it sold around 70 million units reflected fromits first quarter sale alone. Recently it has launched its high cost galaxy note book devices whichare touted as the next big thing in the technology market. It aims to grow further and sustain itsnumero uno position. Along with that it continues to be main supplier of Apple Inc’s subsidiaryproducts which generates further revenue and profit for the company[ CITATION Hay13 \l 1033 ].
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