Analyzing Samsung's Business Practices and Effectiveness

This report provides an in-depth analysis of Samsung's business practices, focusing on how the company achieves its objectives. It begins with a historical overview of Samsung, followed by an examination of the PESTLE analysis, highlighting political, economic, social, technological, environmental, and legal factors influencing the company's operations. The report then explores the impact of globalization on Samsung, including increased market share and the establishment of manufacturing plants worldwide. The role of technology in Samsung's daily operations, such as internal communication and project management, is also discussed. Furthermore, the report identifies Samsung's target customers and strategies to attract and retain them, including social media engagement and product innovation. The importance of ethical conduct and Samsung's efforts to reduce carbon emissions are also addressed. The report concludes by emphasizing the significance of effective business practices in enhancing organizational performance and productivity, summarizing the key strategies and their impact on Samsung's success.

Effectiveness in the
Business World

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.Describing the background and history of Samsung................................................................1
2. The use of PESTEL tool in meeting the objectives of Samsung............................................1
TASK 2............................................................................................................................................2
1. Different ways in which globalization impacted the Samsung...............................................2
2. Use of technology in daily operations of Samsung.................................................................3
TASK 3............................................................................................................................................3
1. The targeted customers of Samsung and important for business to understand its customers.
.....................................................................................................................................................3
2. The ways through which Samsung can attract more customers............................................3
TASK 4............................................................................................................................................4
1. Role of ethics in Samsung.......................................................................................................4
2. How Samsung is combating Carbon emissions and reducing co2. ........................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Effectiveness and efficiency is the essence that needs to be incorporated in business
practices which will help an organisation to achieve its key goals. In business, effectiveness is
refereed as quality of the results that derived from an operations by both employees and
managers. The present report will help in understanding the effectiveness of Samsung Group
practices in order to achieve its business objectives. Report will include the effectiveness of
PESTLE and globalisation on attaining business objective. Report will include the importance of
understanding customers and ways to attract them. The role of ethics in Samsung and its plan in
omitting Carbon and Co2 is discussed in report.
TASK 1
a. Describing the background and history of Samsung.
Samsung is a South Korean company, founded as a grocery store by Lee Bung-Chull in
1938. Samsung is now one of the world’s largest manufacturers of electronic devices. Originally,
Samsung has been started as a grocery trading company have nearly 40 employees. Slowly and
gradually companies expanded its business. With continuous diversifications it becomes an
important component in the success of Samsung (Crane and Matten, 2016). Samsung has now
specializes in production of wide range of variety that included electronics, digital media
devices, integrated system etc. Samsung has most recognised name in electronic and mobile
devices market. It has major market share in Asia.
b. The use of PESTLE tool in meeting the objectives of Samsung.
PESTLE analysis will help Samsung in identifying several factors such as:
 Political: the different trade regulation between countries are the some political factors
that can interrupt the business activities several countries. Other political factors which
can affect Samsung are political disruption and political turmoil and loss of business.
Management of Samsung need to make effective strategies in order to face different
political factors.
 Economical: These factors are crucial for Samsung as it will affect the revenue earning
of Samsung. The economic crisis in the country, raise in inflation, and fluctuation in
currencies are the factors that can affect the growth of business (Myers, 2013). The
company has to make strategies in order to overcome from the economic factors.
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 Social: Samsung has emerged as a local company in order to operates in many market. It
is the most effective strategies. Effective strategies will help in achieving the business
objectives as socio-cultural factors also an important factor which helps in increasing the
revenue of the company.
 Technological: Being an electronic and smartphone manufacturer company,
technological factors plays an important role in the growth of the market share of
company (Song and Lee, 2014). Strategies in order to attract more customer and
marketing with the help of technology will help in increasing the customer satisfaction
which helps in achieving goals of the organisation.
 Environmental: It is important for Samsung to adopt sustainability in order save energy
and minimize the carbon footprint which helps in protecting the environment.
 Legal: From employment to different tax related laws, there are various legal restrictions
which Samsung has to face. Samsung has to work in accordance with this laws that will
help in avoiding any violation of the law.
Hence, by taking into account macro environmental analysis business unit can develop
competent strategies and policy framework. This in turn helps company in achieving success and
gaining competitive edge over others.
TASK 2
a. Different ways in which globalization impacted the Samsung.
Globalization has helped in increasing the border for operations for Samsung, it has
helped in attracting more customers and increasing market share in different markets. Impact of
globalization on Samsung are:
Increase in market share: With the help of globalization, Samsung has achieved in
attracting more customer and thereby increases market share of the company in global market.
Samsung is 2nd most recognised and valuable brand in Asia. more than 29.3% of the market share
of Samsung has come from Asia. Samsung is one of the most leading brand in smartphones also.
Its galaxy series ids the most popular mobile devices in the world.
Manufacturing plant: By adopting globalization, Samsung has implemented its own
manufacturing plant in different countries which help in reducing the cost of export for the
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company (Bharadwaj and et.al., 2013). Samsung has over 13 manufacturing plant in all over the
world. Samsung has power 160000 employees and operates in 61 countries in world.
2. Use of technology in daily operations of Samsung.
Samsung has Created Samsung C-lab, a creative lab that was set up in order to enable the
employees in giving their own business ideas which helps in providing them tool in order to
enhance them and the business. Technology played an important role in daily operations of
Samsung:
 Effective use of business communication and technology helped the management and
employees in interact with each other regardless of their locations. With the help of
internet and smartphones, employees or managers can get any information at any time
through e-mails, text messaging, social networking etc (Werbach and Hunter, 2012). It
helps in saving time and effectively manages the operations.
 With the help of technology, Samsung has achieved better project management from its
several units. Manager can allocate the project and task and get timely updates with the
help of software, they can easily share the information to everyone that were working on
the same project.
TASK 3
1. The targeted customers of Samsung and important for business to understand its customers.
In the context of Samsung, identification of target customers is very important in order to
analyse their needs and preferences. It is important strategy for a business in order to attract more
customers and increase the market share of company.
Samsung' s smartphones are much popular in mobile world, The new Galaxy note are
manufactured in order to target the young generations who are more inbound with high tech
features and innovative design. The new smartphone has been made with high quality camera
that is foremost essential factor at the time of purchasing mobile devices. In such a way Samsung
has attracted many young customers. Samsung manufactures and offers several models with the
motive to meet requirements of people pertaining to all age group from old to young. Hence, by
identifying customers as well as their needs firm can offer tailor made products and thereby
become able to attain success.
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2. The ways through which Samsung can attract more customers.
The two effective ways which helps in attracting and keeping the customer for Samsung
are:
 Social network is a great channel that helps the management to stay connected with
customers (Ajami and Goddard, 2014). It is an effective way that will help the company
in knowing the customers want and preferences. It also helps in taking feedbacks on the
product that will help in attracting and help in maintain customer loyalty.
 Offering an innovative product has always been a great strategy in order to attract new
customer. Launching a new product or the similar product with innovative feature will
promote itself which help in attracting more and more customers.
TASK 4
1. Role of ethics in Samsung.
 Samsung aims to become world's leading company in order to create best product and
services which helps in contributing to human society (Verbeke, 2013).
 Samsung has compiled with laws that helps in setting up its code of conducts like
respecting equal rights to employees, not discriminating on any basis.
2. How Samsung is combating Carbon emissions and reducing co2.
Samsung has continuously make efforts in emission of carbon and reducing Co2.
Samsung has making effort in developing the energy-efficient products which helps in getting
minimum greenhouse gas emission and developing new and renewable energy (Ritala, Golnam
and Wegmann, 2014).
Samsung is focusing on making new agenda which helps in combating climate change.
Samsung has introduced new logistic policies which helps in execute reduction of gas reduction
projects in order to improve energy.
CONCLUSION
By concluding the above report, it can be analysed that effectiveness in business practices
is crucial in increasing the performance and productivity of an organisation. The above report
has helped in analysing different practices of business that helps in achieving Samsung's
objectives. It has been analysed from the report that PESTEL has helped in making various
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strategies in order to overcome from the external factors that affect business growth. It can be
analysed that globalization has helped in increasing the growth of Samsung . The importance of
technology and ways to attract customer wants has been discussed. Further, role of ethics in
Samsung and its step for omission has been explained.
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REFERENCES
Books and Journals
Ajami, R. and Goddard, J. G., 2014. International business: Theory and practice. Routledge.
Bharadwaj, A. and et.al., 2013. Digital business strategy: toward a next generation of insights.
Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
Myers, M. D., 2013. Qualitative research in business and management. Sage.
Ritala, P., Golnam, A. and Wegmann, A., 2014. Coopetition-based business models: The case of
Amazon. com. Industrial Marketing Management. 43(2). pp.236-249.
Song, C. Y. and Lee, K., 2014. The Samsung way: Transformational management strategies from
the world leader in innovation and design. New York: McGraw-Hill Education.
Verbeke, A., 2013. International business strategy. Cambridge University Press.
Werbach, K. and Hunter, D., 2012. For the win: How game thinking can revolutionize your
business. Wharton Digital Press.
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