Strategic Decision-making Assignment - Samsung
Added on - 21 Apr 2020
2INTRODUCTIONUsually, the path the businesses take depends largely on the decision-making skillsand strategies that take up. Usually, managers in the firms are responsible for the designing ofthe managerial structure so that the organizations can attain success at a faster rate. This iswhy the strategic decision can be a key process that can either make or break an organization(Mullins et al. 2010). Furthermore, many scholars have discussed the topic making it widelyimportant for the organization to take up.By definition, an act of decision can be the activity where a person or a group reachesthe conclusion. The familiarity with making a decision is common in every field, even in anindustry (Dimitratos et al. 2011). The assumption is most common that the usual decision-making process brings one to an appropriate result. A good decision occurs when theobjectives of the organization are clear and concise. The person or the organization shouldcontain all appropriate information about the event. They also reflect on the strategiesdesigned and strive to make it better for attaining higher competitive advantage (Shepherdand Rudd 2014).This essay would similarly discuss the strategic decision-making practices inSamsung at present and few recommendations. This would provide a better vision of thedecision-making practices that a business use in order to achieve success. Severalframeworks and models would be used to recommend solutions for the problems that the firmwould be facing at present.Company OverviewFor this essay, Samsung company was chosen for many reasons. It would specificallyfocus on the mobile business of the entire company. One of the possible reasons is that the
3business had several difficulties that can be analyzed in order to find out more about strategicdecisions in the organization. The company is an international firm based in Asia that hasachieved heights due to the higher policies. However, they also faced several obstaclesbecause of rising competition. The possible recommendation can further help the firm toachieve great heights again. It would give appropriate opportunities to learn more from theprocess that would enable one to make strategic decisions.This firm was founded in South Korea in the year 1938. The company became aleader in the industry of home appliances in the year 1969, which is now most famous for theinnovative technology and IT solutions. By the 70s the firm was able to develop severalstrategies to become worldwide famous in the corporation by the arrangement of theproduction of semiconductors and telecommunications, which started to grow faster. Theyalso focused on the heavy industry by focusing on shipbuilding and aircraft manufacturing.Later, they stepped in the chemical industry along with entrance in the large overseas marketby the 80s. They started to expand their business after the 80s in the US and the UK and otherparts of the world (Friedman 2017).INDUSTRY ANALYSISProducts and target marketThe company has been divided into three main components under which they are ableto offer various services to the customers all around the world. These components includeconsumer electronics, IT & mobile communication, and device solutions (Chang 2010). Theyhave a number of businesses under these components. For instance, the consumer electronicshave three important business under the entire corporation Samsung such as health & medicalequipment business, Digital Application business, and Visual Display business. The IT &Mobile Communication includes network business and mobile communication business.
4Lastly, the device solution includes system LSI business, Foundry business, and Memorybusiness (Samsung 2017).Their products and target market vary depending on the availability of the product anddemand within the people. For instance, the visual display business offers general televisionsets and other similar equipment to the families in general. Their television industry has beenfacing wider growth because of the technological advancement and the rising demand withinthe families. Other products they offer include digital appliances such as a refrigerator andwashing machine. The target market for such equipment generally includes all the women, oreven men sometimes, that are in need of such equipment at the household or offices. Theyalso offer CT scanners, ultrasound, and other equipment for the hospitals so that they canachieve betterment for the patients. Among all the products, their mobile industry is vastlyfamous all around the world that offers high quality of phones to all the people. Their targetmarket is the teenagers and the youths that seek to get a highly advanced phone. Other thanthat, they also offer LTE services, memory for tablets and smartphones, and much more(Samsung 2017). This essay, however, would focus mostly on the Samsung mobile businessand present powerful recommendations that can lead the company toward higher growth.Strengths of the firmSome of the biggest strengths of the company are the diversity and volume of theavailability of the products in the international market. They already have a higher quality ofproducts available for the people and they strive to take step toward innovation by the year2020 (Michell 2010). They also have higher growth in the field of research and developmentthat has enabled them to achieve greater growth. The organization is able to hold extensiveresearch that usually includes scholars and experts are responsible for the research anddevelopment of the firm after having intensive competitive research. They desire to increase