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Strategic management and Analysis of Samsung : Report

   

Added on  2020-01-07

22 Pages7310 Words1485 Views
STRATEGY

TABLE OF CONTENTSExecutive summary..........................................................................................................................1INTRODUCTION...........................................................................................................................3High-level strategic analysis and appropriate supporting- level strategic analyses.........................7Integrated Summary of Strategic Analysis....................................................................................10Selection Of One Strategic Option................................................................................................12Critical Reflection of Implications Of Recommended Strategies.................................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................16ILLUSTRATION INDEXIllustration 1: SAMSUNG Korea Headquarter View......................................................................4

Executive summaryThe success of organization depends upon the efficiency of management of operationsand quality of services and products offered. In the existing volatile and competitive marketcondition, to establish the prominent position in the market place, the organizations' comes upwith the effective and distinguished strategy. Strategic management is among the threefundamental pillars of the organization along with the other two operational management andhuman resource management. Strategic management plays the deciding factor for the company'sestablishment and its profitability. The report elucidates strategic analysis of the South Koreanmultinational conglomerate company. Comprising numerous subsidiaries and affiliatedbusinesses in consumer electronics, Samsung has been successful in consolidating the largestream of customers around the Globe. Samsung had established its business with the limitedrange of products in color TV's, microwave ovens, washing machines and AC's but gradually ithas widens its horizons to the large range of consumer electronics, information technologyproducts, mobile phones and home appliances.It can be stated that Samsung is a multinationalelectronics conglomerate which is facing a number of strategic challenges that involvesineffective infrastructure operations, poor reception and lack of competency that possess anadverse effect on sales. However, business is also facing an intensive competition from newmarket players and also responding to the enhancement of technological innovation at a globallevel. A.)Strategic challenges With the effective research and development team, management prepares the targetingstrategy inculcating three core components; innovation, design and technology. Thestrategic management has been evolved with the different stages. At the time ofinception, the company faced certain issues with respect to its prominent establishmentin the market. Lack of research and market trends analysis results in the low demandand low sales. Further, Ineffective infrastructure operation, poor reception and lack ofcompetency were the major obstacles.Continuous technological advancements: In the digital era, the dynamic and fast pacegrowing nature of technology demands the better research work and developmentprocess. To achieve the further growth and profitability it seeks the intimate knowledgeof technological innovation around the globe.1

Escalating competition: Entry of big players in the market is the major strategicchallenge for the establishment of Samsung. To strengthen the competitive edge andwidening the gap with the major competitors demands the formulation of strategy tobring innovative ideas and pioneering of attention capturing product.B.) Approach taken in the analysisTo carry out successful business in the future, the management of Samsung takes certaincross-functional decisions and incorporates business and personal goals. To detect the potentialand growth possibilities, the internal and external analysis is performed. It helps in bringing theoptimum transition in raw materials to the finished goods. For the purpose SWOT and PESTmodels are used. By using SWOT analysis, the company analysis is done by identifying thestrong areas of company and the weak areas in its operations. Further, it helps to realise thearenas of possible growth opportunities and major threat areas company will be facing such asstrategic challenges and competition. For the external analysis PEST model is used. It analalyzethe effectiveness of competency of its operation in the political, economical, social andtechnological areas of the country.C.)Key analysis findingsWith the above analysis, certain inferences are made and consequently strategy optionsare derived. The company Samsung has prepared strategy with respect to the three core areas andcomponents pricing, promotion, products innovation and distribution.Product innovation: The organization with the effective research and development,pioneer the innovative products with the distinguished designs and features. It formulatethe strategies to inculcate the latest technology in the products to provide their customersproducts with advanced features.Pricing: To reach in the lives of large number of customers Samsung introduces productswith wide range of prices targeting economical to elite users.Distribution: It has built the effective supply chain with the smooth inbound andoutbound logistics.Promotional strategy: Samsung adopts the effective marketing strategy by using suitablemarketing mixes in different segments.D.)Critical reflection on the implications2

Samsung has to consider each and everything very precisely in order to establish a newproduct in the competitive market as in each and every country there will be competitors whowill generally affect the market share as well as revenue of the firm. With the implementation ofSWOT, PESTLE, Ansoff Matrix, cited firm will be able to achieve its competitive position andwill be able to achieve the goals and objectives in desired manner. 3

INTRODUCTIONStrategy for any business organization is considered as a high level plan which leadventures to achieve their goals and objectives under different conditions of the uncertainties.Strategy is also necessary for the business organizations because the resources which areavailable to these goals and objectives are limited (Mohr, Sengupta and Slater, 2009). In order tohave effective functioning, leaders and managers have to implement some specific strategies sothat there employees gets motivated and organization able to achieve their goals and objectivesin a significant manner. In order to meet this strategy, top managers and executives makesstrategic planning as well and deliberately divide all the important resources in order meet theobjectives of enterprise. Further, strategic management is also the part of the same topic and topowners consider both internal and external resources for making an effective decision byconsidering the different resources available to the venture (Ogrodnik, 2012).In this context, this present report has been prepared on Samsung which is a multinationalelectronic brand and having its effective operations throughout the globe including UK. Further,the mentioned firm has number of subsidiaries and different affiliated business and many of themare running under the major brand called Samsung. As stated, currently Samsung is dealing onlyin electronics but in coming one or two decades, cited firm will expand their business in the fieldof food processing, textile sector, insurance, securities and most important in retail as well.4

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