Managing a Successful Business: A Samsung Case Study

Desklib provides past papers and solved assignments for students. This project analyzes Samsung's business success.

MANAGING A SUCCESSFUL BUSINESS
PROJECT
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Contents
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................5
P1.................................................................................................................................................5
P 2....................................................................................................................................................6
P 3..............................................................................................................................................10
LO 2...............................................................................................................................................13
P4...............................................................................................................................................13
LITERATURE REVIEW- QUALITATIVE..........................................................................13
LO3................................................................................................................................................15
P 5..............................................................................................................................................15
SURVEY –QUANTITATIVE...............................................................................................15
P6...............................................................................................................................................17
LO4................................................................................................................................................24
P7...............................................................................................................................................24
CONCLUSION..............................................................................................................................37
REFERENCES..............................................................................................................................38
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INTRODUCTION
In digital media and Digital convergence technology, the Samsung Company is the global leader
company. The Samsung Company is one of the largest company which has the highest brand
value in the world. Samsung is operating its business More than 50 countries. The main head
office of the company is in South Korea (Laudon, and Traver 2016). This is written in white on
the blue background the Samsung brand which represents the stability, reliability, and warmth of
the company. The Samsung Company manufacture electronics goods like TVs computer, and
many more electronic items. The Samsung Company is specialized in the electronic logs. With
the medium cost value the Samsung having the highest brand. Most of the Samsung electronics
company shift their business in many developing countries like India, China and many more
(Laudon, and Traver 2016). Due to low labor and raw material cost is the reason for shifting their
business.
As compared to the other brand like Sony, LG, and Panasonic the brand vision of the Samsung is
totally different. This case project is basically based on the electronic side of the Samsung brand.
The Samsung Company achieved fast growth with the help of export. Their first product is a
black and white TV in 1972 (Laudon, and Traver 2016). The performance of the business is to
become a global brand. With the help of customer feedback, the Samsung Company try to
analyze the global market opportunity. The concept of its brand is change by Samsung. They try
to make some changes due to which the choice of the customer will be change with the new
brand image (Pagani, and Pard,2017). The Samsung company promote their business all over the
world due to this the company is recognized as a worldwide brand.
Samsung has achieved the changing concept of its brand image. Now they have a good customer
based. The reason for their success is due to there is directly concerned about the different
market player and the customer. They sell their product online. Now a day’s most of the people
are prefer to purchase the good directly from the internet (Pagani, and Pard,2017). The group of
Samsung is direct sell models and the telephone network. For increasing their growth the
companies use time management. From this model, they have to maintain a negative cash
conversion cycle. They always provide their goods at the right time with the right place to the
right person. Their main motive is to satisfy the customer need and wants. When the JIT
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approaches they start producing the computer and other electronic goods to satisfy the customer
need and wants (Pagani, and Pard,2017).
The Samsung Company tries to maximize its stockholder value with the help of marketing for
balancing the financial side of the company. They always try to attract more and more customer
for purchasing their product. They use many different techniques like they give warranty, some
type of skims so that the customer will buy their product (Pagani, and Pard,2017). With the help
of this skims and skim offer the growth of the business is increasing rapidly.
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LO1
P1
The main objective of the Samsung Company is to become a global number one in the
electronics industry. They also try to identify that there all the product are made up of the new
technology. And the entire products have good quality. And on the other hand, they also try to
make a user-friendly related to the product (Kane et al., 2015). For the customer convenient they
want to create a product like a smartphone and smart TV along with TV have a browser facility.
The Samsung Company is to fulfill the leadership position in the electronics industry. On the
recent analysis, the companies get the second position with their competitors. Apple products
have a dedicated customer base in the market (Kane et al.,2015). As compared to Samsung
company the apple company does have a large diversified its range of product. The Samsung
Company makes many different strategies to attract more customers. As compared to the tough
competition in the market the Samsung company always invent a new technology to increase
their sale (Kane et al.,2015). Due to the dynamic change, the Samsung Company invents that
product which will satisfy the customer needs and wants.
The company is to identify that the company will manufacture the high quality of the product in
the market to increase their growth. And they also try to identify that the product which is
manufacture are availed in the latest technology or not in all over the world (Kane et al.,2015).
Samsung Company has existed for many years, so the competitors in the market are more. So the
company manufactures many household appliances to maintaining its standing in the market.
Due to this, the loyalty of the brand is increased in the market.
As per the Customer point of view, the Samsung brand represents the TV Iron ox and many more
(Kane et al.,2015). For example, the customer was not satisfied by the Samsung new product that
is the Samsung note 7 phones. Due to this the customer blaming to the firm for the unsafe of the
product, the firm revised the phone model to satisfy their customer again. This is the third
objective of the Samsung company to satisfy the customer needs and wants and try to
manufacture the product that is both user-friendly and the environmentally friendly (Smolen et
al., 2016).
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The Samsung Company is not only to satisfy the customer but also fulfill the firm main goal:
more profit. They also try to deliver a high quality of goods and try to utilize the latest
technology for manufacturing their product (Smolen et al., 2016). Samsung is taking a leadership
position in the new technology industry are the objective to confirm the firm retained d the
customer and try to increase their sale. The main objectives of the research are:
 To improve the recruitment, selection process
 To give proper training to their employees to meet international requirements.
 To create competitive advantages over its competitors in the context of the host country
that is India (Pagani, and Pard,2017).
P 2
PROJECT MANAGEMENT PLAN
There are many different skills in project management which will help to make your job easier.
In any type of organization, the time management plan is very beneficial. This will help to
identify the issues in the organization (Smolen et al., 2016). It will also figure out the incredible
difficulty. For carrying out the project successfully the project management plan will give a
necessary structure.
It will also help to give a proper structure of the business and assign the role and the
responsibility for the specific task throughout the lifecycle of the product (Smolen et al., 2016).
With the help of the project management plan, the upper level of the executive is updated related
to the project as a whole. The project management plan covers all the aspects of cost, scope,
time, quality, communication, risk and resource of the company.
PROJECT STATEMENT
This research project provides at how the organization will select or recruit or give training to
their employee. And the companies also try to create a competitive advantage over their
competitors.
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PROJECT SCOPE
This is important in a particular component when it’s come to make a project management plan.
To identify and to determine the scope of the project management plan is the help to see the
foundation among the decisions makers as well as to develop the project (Iblasi et al.,2016).
PROJECT COST AND TIME
On the several variables of the product, the cost of the Samsung Company is changing. In this
there are many different resources are involved, from the material to the people who include the
labor cost (Iblasi et al.,2016). There is much different outside force that can build a project,
which must be focused on the cost of the work. Samsung will spend more than $15 billion for
marketing and promotion of its product in 2014 which is more than the total GDP. According to
the report, the total revenue will spend 5.4% of its annual value. The Samsung Company is
specialized in the electronic logs. With the medium cost value the Samsung having the highest
brand (Iblasi et al.,2016).
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RISK AND RESOURCE
Most of the Samsung electronics company shift their business in many developing countries like
India, China and many more. Due to low labor and raw material cost is the reason for shifting
their business. Due to many competitors, the company tries to improve the quality of the product
so that they can satisfy the customer need and wants (Iblasi et al.,2016).
Risk ID Risk
Statement
Probabili
ty
Impact Scor
e
Response
Scope Qualit
y
Schedu
le
Cost
1. Change in
Import and
export policy
0.20 0.50 0.1 0.3 0.1 0.053 communication
plan is
compulsory
3 Monitory
risks
0.1 0.1 0.2 0.3 0.1 0.045 Measurement of
the budget
4 Operational
risk
0.6 0.4 0.5 0.1 0.3 0.397 The lower wages
must be less
Income
disparities to be
minimize
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5 Problems in
Globalisation
of trade
agreement
risk
0.5 0.7 0.2 0.3 0.4 0.200 Powerful and
effective
resources
RISK ASSOCIATED
This will also help to identify the risk and determine the feasibility of the project. Due to many
competitors in the market, the company has to plan many strategies. They have more risk while
they are introducing any new product on the market (Chernev, 2018).
TIME MANAGEMENT
In Time management the organization has to plan some of the steps for increasing the growth of
the business. Time management is the most important part of any type of organization. some of
the steps of the time management are they have to plan and schedule the management, define
some different activities, estimate the activity resource, estimate the duration of the activity is
done, develop the schedule and the last one is control the schedule in the organization (Chernev,
2018). Time management is also a very important part for the member level too.
COMMUNICATION
In the communication management, some of the different processes are used for increasing the
growth of the business. In communication management the systematic monitoring, implementing
and planning of all the channel of communication is done. There should be a good
communication between the entire employee and the manager of the company.
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Stakeholder Information Method Time of
frequency
Sender
Supervisor of
the British
Petroleum
Development of
the project
Information
related with the
documents.
Fortnight Designated
Manager
Investors Plan the import
and the export
related with
investment and
implement in
organization.
Interaction 12 month Coordinators
of the Project
Workers Proof to the
agreement
Mail and
messages
Weekly organization
Managers planner Mail and
telephone
On a regular basis Buying and
selling team
Communications plan
P 3
With the help of secondary data, the foreign trade is identified and trade agreement can be
analyzed by the organization. This can also measure the Literature review. With the help of
survey method the primary research related to the study would be done (Kirillov et al.,2015).
That is made up of with the list of different type of questionnaire. And at the last of the survey,
the response will be understood that the impact on the business environment.
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With the help of the Gantt chart, the project schedule can be clarified. On a vertical axis, the
chart of the task is listed. And in horizontal the time interval is given. The width of the horizontal
bars in the graph shows the time duration of each activity (Chernev, 2018). The Gantt chart also
provides the project which was invented by the L, Henry in the year 1917. This will help the
organization by providing the graphical representation of the whole process which is planned in
the organization to increase the growth. With the help of this chart, we can also identify the
tracking progress of the project (Chernev, 2018).
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MAIN PART OF LITERATURE
RESEARCH COMPLETED,
RESEARCH QUESTIONS AND
OBJECTIVE DEFINED
RESEARCH PROPOSAL
SUBMITTED
Date Duration
MAKE ARRANGEMENT OF
DATA COLLECTION
LITERATURE RESEARCH
FINISHED AND REVIEW
WRITTEN
SECONDARY DATA RESEARCH
PRIMARY RESEARCH AND
ANALYSIS
DRAFT WRITTEN REPORT
REVISED DRAFT WRITTEN
REPORT
FINAL SUBMISSION OF
WRITTEN REPORT
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