Analysis of Operations, Leadership, and Management at Samsung Vietnam
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AI Summary
This report provides a comprehensive analysis of the operational management practices at Samsung Electronic Vietnam (SEV), focusing on the roles of leaders and managers. It examines the application of key approaches such as Six Sigma, Continuous Improvement (Kaizen), and Total Quality Management (TQM), highlighting their impact on achieving company objectives. The report details how SEV implements these methods, including the 'Line Stop' system and customer-focused strategies, to improve product quality and efficiency. Furthermore, it analyzes the relationship between leadership and management in the contemporary business environment, evaluating the expectations of various stakeholders, including employees, governments, and local communities. The report also explores the factors influencing organizational management and decision-making, such as PESTEL analysis, and how SEV balances stakeholder expectations amidst challenges like the COVID-19 pandemic. The report concludes with the importance of adapting operational management approaches, like Lean production, to maintain competitiveness and achieve long-term goals.
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TABLE OF CONTENT
INTRODUCTION.............................................................................................................................. 2
MAJOR FINDINGS........................................................................................................................... 3
TASK 1: The roles leaders and managers play in the operations function of Samsung Vietnam....3
I. Key approaches to managing operations and the role of leaders and manager..........................3
a) Six Sigma............................................................................................................................. 3
b) Continuous Improvement/ Kaizen.......................................................................................3
c) Total Quality Management (TQM)......................................................................................4
II. The importance and value of operations management in achieving company objectives........4
TASK 2: The relationship between leadership and management in a contemporary business
environment..................................................................................................................................... 6
I. Analyze the expectations of stakeholders of Samsung Electronic Vietnam..............................6
1, Stakeholders of Samsung Electronic Vietnam.....................................................................6
2, Balance between the expectations of Samsung Vietnam’s stakeholders..............................8
II. Factors affecting organizational management and decision-making by leaders and managers
in the business environment.........................................................................................................9
1, PESTEL............................................................................................................................... 9
a) POLITICAL - LEGAL...................................................................................................9
b) ECONOMIC...................................................................................................................9
c) SOCIAL – CULTURE..................................................................................................11
d) TECHNOLOGICAL - ENVIRONMENT......................................................................11
2, Decision-making by leaders and managers in the business environment...........................11
3, Stakeholders' influence on operational management and decision-making by leaders and
managers................................................................................................................................ 12
a) Employees....................................................................................................................13
b) Governments.................................................................................................................13
c) Local communities........................................................................................................13
d) Media............................................................................................................................ 13
e) Shareholder & Investors...............................................................................................13
f) NGOs, CSR Councils, Specialized Institutions.............................................................13
g) Suppliers....................................................................................................................... 13
h) Customers..................................................................................................................... 14
CONCLUSION................................................................................................................................. 17
REFEFERENCES............................................................................................................................. 18
1
INTRODUCTION.............................................................................................................................. 2
MAJOR FINDINGS........................................................................................................................... 3
TASK 1: The roles leaders and managers play in the operations function of Samsung Vietnam....3
I. Key approaches to managing operations and the role of leaders and manager..........................3
a) Six Sigma............................................................................................................................. 3
b) Continuous Improvement/ Kaizen.......................................................................................3
c) Total Quality Management (TQM)......................................................................................4
II. The importance and value of operations management in achieving company objectives........4
TASK 2: The relationship between leadership and management in a contemporary business
environment..................................................................................................................................... 6
I. Analyze the expectations of stakeholders of Samsung Electronic Vietnam..............................6
1, Stakeholders of Samsung Electronic Vietnam.....................................................................6
2, Balance between the expectations of Samsung Vietnam’s stakeholders..............................8
II. Factors affecting organizational management and decision-making by leaders and managers
in the business environment.........................................................................................................9
1, PESTEL............................................................................................................................... 9
a) POLITICAL - LEGAL...................................................................................................9
b) ECONOMIC...................................................................................................................9
c) SOCIAL – CULTURE..................................................................................................11
d) TECHNOLOGICAL - ENVIRONMENT......................................................................11
2, Decision-making by leaders and managers in the business environment...........................11
3, Stakeholders' influence on operational management and decision-making by leaders and
managers................................................................................................................................ 12
a) Employees....................................................................................................................13
b) Governments.................................................................................................................13
c) Local communities........................................................................................................13
d) Media............................................................................................................................ 13
e) Shareholder & Investors...............................................................................................13
f) NGOs, CSR Councils, Specialized Institutions.............................................................13
g) Suppliers....................................................................................................................... 13
h) Customers..................................................................................................................... 14
CONCLUSION................................................................................................................................. 17
REFEFERENCES............................................................................................................................. 18
1
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INTRODUCTION
Samsung is a long-standing and well-known company in the field of manufacturing electronic
technology equipment. This report will analyse the operational management methods at Samsung
Electronic Vietnam (SEV) and the specific roles of leaders and managers in the governance process.
From there, point out successes that the company has achieved with the operational management
method will be outlined. In addition, the report also provides the factors in the business environment
that affect the governance of SEV and the decisions and how the company balances the different
expectations of the stakeholders are also listed.
2
Samsung is a long-standing and well-known company in the field of manufacturing electronic
technology equipment. This report will analyse the operational management methods at Samsung
Electronic Vietnam (SEV) and the specific roles of leaders and managers in the governance process.
From there, point out successes that the company has achieved with the operational management
method will be outlined. In addition, the report also provides the factors in the business environment
that affect the governance of SEV and the decisions and how the company balances the different
expectations of the stakeholders are also listed.
2
MAJOR FINDINGS
TASK 1: The roles leaders and managers play in the operations function of Samsung Vietnam
I. Key approaches to managing operations and the role of leaders and managers
a) Six Sigma
According to Linderman (2003), Six Sigma is a systematic and systemic approach to strategic
process control and the development of innovative products and services that relies on statistical
methods and the scientific method to achieve substantial reductions in consumer-identified defect
rates. Six Sigma is a corporate process management methodology that focuses on reducing waste,
improving customer relationships, and increasing a company's productivity.
In operation management, Samsung Electronic Vietnam (SEV) has implemented the Six Sigma
with the "Line Stop" system, which allows everyone to halt the manufacturing process if non-
standard goods are detected. SEV also employs the method of determining the degree of divergence
from the perfection of an operation. It aids in the measurement of the number of "defects" in a
process, allowing the organization to find a way to repair it and come as close to "defect-free" as
possible. This method helps SEV create perfect products and achieve higher quality in its
production. Six Sigma applications in organisations have been described as involving effective
leadership. (Alessandro & Jiju, 2015). To apply Six Sigma approach with success, leaders need to
communicate, inspire, and consistently define goals for employees. In addition, they need to be
flexible in the process of applying the Six Sigma model to the company, know how to recognize the
employee's contribution and connect, develop leadership with the size of the company and industry,
and focus on people and services. Managers in Six Sigma are responsible for setting and updating
targets in order to make cost-cutting and waste-reduction decisions. The manager will oversee the
DMAIC method's development as well as supporting and evaluating personnel for the company
(Mintzberg, 1973). Therefore, SEV leaders and managers take advantage of Six Sigma operations
management by building intrinsic characteristics, especially human resources, and often prioritizing
creativity in creating and design products, track and set goals to help maintain the company's
production activities stably and efficiently.
3
TASK 1: The roles leaders and managers play in the operations function of Samsung Vietnam
I. Key approaches to managing operations and the role of leaders and managers
a) Six Sigma
According to Linderman (2003), Six Sigma is a systematic and systemic approach to strategic
process control and the development of innovative products and services that relies on statistical
methods and the scientific method to achieve substantial reductions in consumer-identified defect
rates. Six Sigma is a corporate process management methodology that focuses on reducing waste,
improving customer relationships, and increasing a company's productivity.
In operation management, Samsung Electronic Vietnam (SEV) has implemented the Six Sigma
with the "Line Stop" system, which allows everyone to halt the manufacturing process if non-
standard goods are detected. SEV also employs the method of determining the degree of divergence
from the perfection of an operation. It aids in the measurement of the number of "defects" in a
process, allowing the organization to find a way to repair it and come as close to "defect-free" as
possible. This method helps SEV create perfect products and achieve higher quality in its
production. Six Sigma applications in organisations have been described as involving effective
leadership. (Alessandro & Jiju, 2015). To apply Six Sigma approach with success, leaders need to
communicate, inspire, and consistently define goals for employees. In addition, they need to be
flexible in the process of applying the Six Sigma model to the company, know how to recognize the
employee's contribution and connect, develop leadership with the size of the company and industry,
and focus on people and services. Managers in Six Sigma are responsible for setting and updating
targets in order to make cost-cutting and waste-reduction decisions. The manager will oversee the
DMAIC method's development as well as supporting and evaluating personnel for the company
(Mintzberg, 1973). Therefore, SEV leaders and managers take advantage of Six Sigma operations
management by building intrinsic characteristics, especially human resources, and often prioritizing
creativity in creating and design products, track and set goals to help maintain the company's
production activities stably and efficiently.
3
b) Continuous Improvement/ Kaizen
In the management arena, Continuous Improvement (CI) described as "continuous change
affecting all, administrators and employees alike" (Suárez-Barraza et al., 2011). CI emphasizes
performance improvement in small continuous development activities.
Through stabilizing manufacturing processes based on requirements, SEV is dedicated to
supplying consumers with reliable and consistent quality goods. With a dedication to "No
Specification, No Work" SEV's leaders use the CI approach to enforce the strategy in the enterprise,
with all workers participating in continuous quality improvement initiatives. Samsung aims to
consistently increase efficiency by managing improvement in various processes in a predictable
manner in order to deliver excellent and reliable product consistency at a fair price and at the right
time to ensure consumer loyalty. It is important for Kaizen leaders to understand the complexity of
various company activities and this ensures that employees are mindful of what needs to be
accomplished (Armstrong, 2009). Meanwhile, managers need to define specific tasks to assign to
specific individuals, support and accompany employees in challenges (Mintzberg, 1973). The leader
and manager at SEV uses a closed-loop approach with measurement and monitoring systems to
strictly control overall quality. Thereby, contributing to the improvement of process capacity, giving
a response plan to help minimize the change around the target.
c) Total Quality Management (TQM)
TQM is an applied management methodology and a system of activities that emphasizes the role
that all teams and individuals play in an organization's products and services to maximize service
quality, at a very reasonable expense, in order to satisfy customer expectations and increase market
share (Kanji, 1990).
It can be seen that from the management activities of SEV, the leader has applied TQM method.
The TQM leader's role is to keep all aspects of the organization engaged in order to ensure that
company objectives are met (Armstrong, 2009). Besides that, management must ensure that the
organization focuses from both within and outside the enterprise while applying TQM; quality
assurance of goods and services must be strengthened and produced in accordance with TQM's
eight standards (Mintzberg, 1973). In operations management, SEV applies customer-focus of
TQM, puts customer satisfaction first, implements every production process to achieve excellent
product quality at reasonable prices and right when the customer needs it. The company always
monitor and survey customer needs before deciding or changing in small improvements to the
product. The leaders at SEV understand very well the goals of the organization, well implement the
4
In the management arena, Continuous Improvement (CI) described as "continuous change
affecting all, administrators and employees alike" (Suárez-Barraza et al., 2011). CI emphasizes
performance improvement in small continuous development activities.
Through stabilizing manufacturing processes based on requirements, SEV is dedicated to
supplying consumers with reliable and consistent quality goods. With a dedication to "No
Specification, No Work" SEV's leaders use the CI approach to enforce the strategy in the enterprise,
with all workers participating in continuous quality improvement initiatives. Samsung aims to
consistently increase efficiency by managing improvement in various processes in a predictable
manner in order to deliver excellent and reliable product consistency at a fair price and at the right
time to ensure consumer loyalty. It is important for Kaizen leaders to understand the complexity of
various company activities and this ensures that employees are mindful of what needs to be
accomplished (Armstrong, 2009). Meanwhile, managers need to define specific tasks to assign to
specific individuals, support and accompany employees in challenges (Mintzberg, 1973). The leader
and manager at SEV uses a closed-loop approach with measurement and monitoring systems to
strictly control overall quality. Thereby, contributing to the improvement of process capacity, giving
a response plan to help minimize the change around the target.
c) Total Quality Management (TQM)
TQM is an applied management methodology and a system of activities that emphasizes the role
that all teams and individuals play in an organization's products and services to maximize service
quality, at a very reasonable expense, in order to satisfy customer expectations and increase market
share (Kanji, 1990).
It can be seen that from the management activities of SEV, the leader has applied TQM method.
The TQM leader's role is to keep all aspects of the organization engaged in order to ensure that
company objectives are met (Armstrong, 2009). Besides that, management must ensure that the
organization focuses from both within and outside the enterprise while applying TQM; quality
assurance of goods and services must be strengthened and produced in accordance with TQM's
eight standards (Mintzberg, 1973). In operations management, SEV applies customer-focus of
TQM, puts customer satisfaction first, implements every production process to achieve excellent
product quality at reasonable prices and right when the customer needs it. The company always
monitor and survey customer needs before deciding or changing in small improvements to the
product. The leaders at SEV understand very well the goals of the organization, well implement the
4
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leadership element in TQM, thereby ensuring and clearly orienting their employees' goals. In
addition, to further improve the management process, managers at SEV develops personnel by
advanced training methods, helping to increase labor productivity. In addition, the company also
applies continual improvement in focusing on small steps in product improvement, placing
product innovation as a priority criterion. SEV takes a factual approach to decision making as the
company always study the needs of customers and the fluctuations in the environment and business
before innovating company' products.
II. The importance and value of operations management in achieving company objectives
Shared on official website, Samsung’ philosophy is “Samsung Electronics is dedicated to using
its human capital and technologies to develop superior products and services in order to make a
bright future for the society.” With a vision for the future of "Inspire the World, Create the Future",
the company always strives to utilize organizational concepts to expand human capital and
technological advantages, thereby increasing the synergistic impact on the management system and
achieving long-term goals:
Create goods and services that have the highest level of customer loyalty.
Retain the world's number one spot in the same field of business.
Contribute to a rich life and shared values.
Carry out missions by a member of the society.
Pursuing its goals, Samsung Vietnam focuses on developing its internal assets; especially human
capital, putting innovation first in product development and design and in the production of
products, the company focuses on marketing, growth, and workforce care. Thus, it can be said that
main operations management at SEV is applying Lean Six Sigma. Lean Six Sigma is a hybrid of
Lean and Six Sigma tools and concepts, recognized as a business strategy to increase process
efficiency, help improve customer satisfaction, and improve final profit results (Snee, 2010). In
operations management, the leader is responsible for maintaining and monitoring a method of
measuring the degree of deviation of a process, thereby helping to create more perfection in
products. The "Line Stop" system is applied to allow SEV to minimize errors or "defects" in
products, helping to improve business speed, contributing to improving profit results for businesses.
The stages of product improvement are carried out continuously at high speed, contributing to
helping Samsung meet the aspirations of shareholders and serve the needs of customers.
It is by optimizing the Lean Six Sigma method that Samsung has achieved certain successes
thanks to good operational management from leaders. ISO 9000, which was first published in 1987
5
addition, to further improve the management process, managers at SEV develops personnel by
advanced training methods, helping to increase labor productivity. In addition, the company also
applies continual improvement in focusing on small steps in product improvement, placing
product innovation as a priority criterion. SEV takes a factual approach to decision making as the
company always study the needs of customers and the fluctuations in the environment and business
before innovating company' products.
II. The importance and value of operations management in achieving company objectives
Shared on official website, Samsung’ philosophy is “Samsung Electronics is dedicated to using
its human capital and technologies to develop superior products and services in order to make a
bright future for the society.” With a vision for the future of "Inspire the World, Create the Future",
the company always strives to utilize organizational concepts to expand human capital and
technological advantages, thereby increasing the synergistic impact on the management system and
achieving long-term goals:
Create goods and services that have the highest level of customer loyalty.
Retain the world's number one spot in the same field of business.
Contribute to a rich life and shared values.
Carry out missions by a member of the society.
Pursuing its goals, Samsung Vietnam focuses on developing its internal assets; especially human
capital, putting innovation first in product development and design and in the production of
products, the company focuses on marketing, growth, and workforce care. Thus, it can be said that
main operations management at SEV is applying Lean Six Sigma. Lean Six Sigma is a hybrid of
Lean and Six Sigma tools and concepts, recognized as a business strategy to increase process
efficiency, help improve customer satisfaction, and improve final profit results (Snee, 2010). In
operations management, the leader is responsible for maintaining and monitoring a method of
measuring the degree of deviation of a process, thereby helping to create more perfection in
products. The "Line Stop" system is applied to allow SEV to minimize errors or "defects" in
products, helping to improve business speed, contributing to improving profit results for businesses.
The stages of product improvement are carried out continuously at high speed, contributing to
helping Samsung meet the aspirations of shareholders and serve the needs of customers.
It is by optimizing the Lean Six Sigma method that Samsung has achieved certain successes
thanks to good operational management from leaders. ISO 9000, which was first published in 1987
5
by the International Organization for Standardization (ISO), will help a company please its clients,
meet regulatory requirements, and achieve consistent growth when used as the basis of a
consistency scheme. In particular, ISO 9001 is the most advanced certification, ensuring the
company meets customer needs when having consistent, good quality products and services (Russell
& Morgan, 1998). Thanks to its good operational management approach, Samsung first received
ISO 9001 certification in 1993, for its factories in Korea. For SEV, the company received ISO
9001:2008 certification and standard certification in reducing the company's impact on the
environment: ISO 14001:2004 (Samsung Electro-Mechanics, 2021). In addition, in the first quarter
of 2021, Samsung Electronics maintained its leading position in the smartphone market with nearly
23% of the global smartphone market share, up 32% over the same period in 2020 (Ngoc Trang,
2021). With nearly $26 billion in turnover and nearly $2 billion in earnings, SEVT in Thai Nguyen
is the biggest company and contribute the most to Samsung Vietnam's market performance in 2020.
Furthermore, SEV and SDV in Bac Ninh have a combined turnover of about 18 billion USD (Song
Ngoc, 2020).
However, during the difficult growth period of the covid-19 outbreak, the cargo management
system is constantly improving and the application of SEV's Six Sigma management approach is not
ideal. The disadvantages of applying Six Sigma are that it is expensive, complicated, and the
participation of members of the organization is required (Amile, 2018). The outbreak of the disease
has led to a decrease in the revenue of many businesses, including SEV. Therefore, Samsung
Vietnam must expect to reduce its export target in 2020 to about 45.5 billion USD, down about 5.8
billion USD compared to 2019 (Vietnam Ministry of Industry and Trade, 2020). Therefore, SEV
leaders should consider internal and external factors to use a better operational management
approach. During the pandemic, perhaps Lean production can be considered as a more reasonable
operation management method for SEV.
TASK 2: The relationship between leadership and management in a contemporary business
environment
I. Analyze the expectations of stakeholders of Samsung Electronic Vietnam
Stakeholders are undeniably important in every corporation and its business. The actions and
decisions made by the organization when operating an enterprise influence on stakeholders
(Gibson, 2000). As a result, to ensure business profitability, satisfying stakeholder expectations
equals achieving stakeholder satisfaction. According to Samsung Sustainability Report 2020,
each stakeholder's priorities are as follows:
6
meet regulatory requirements, and achieve consistent growth when used as the basis of a
consistency scheme. In particular, ISO 9001 is the most advanced certification, ensuring the
company meets customer needs when having consistent, good quality products and services (Russell
& Morgan, 1998). Thanks to its good operational management approach, Samsung first received
ISO 9001 certification in 1993, for its factories in Korea. For SEV, the company received ISO
9001:2008 certification and standard certification in reducing the company's impact on the
environment: ISO 14001:2004 (Samsung Electro-Mechanics, 2021). In addition, in the first quarter
of 2021, Samsung Electronics maintained its leading position in the smartphone market with nearly
23% of the global smartphone market share, up 32% over the same period in 2020 (Ngoc Trang,
2021). With nearly $26 billion in turnover and nearly $2 billion in earnings, SEVT in Thai Nguyen
is the biggest company and contribute the most to Samsung Vietnam's market performance in 2020.
Furthermore, SEV and SDV in Bac Ninh have a combined turnover of about 18 billion USD (Song
Ngoc, 2020).
However, during the difficult growth period of the covid-19 outbreak, the cargo management
system is constantly improving and the application of SEV's Six Sigma management approach is not
ideal. The disadvantages of applying Six Sigma are that it is expensive, complicated, and the
participation of members of the organization is required (Amile, 2018). The outbreak of the disease
has led to a decrease in the revenue of many businesses, including SEV. Therefore, Samsung
Vietnam must expect to reduce its export target in 2020 to about 45.5 billion USD, down about 5.8
billion USD compared to 2019 (Vietnam Ministry of Industry and Trade, 2020). Therefore, SEV
leaders should consider internal and external factors to use a better operational management
approach. During the pandemic, perhaps Lean production can be considered as a more reasonable
operation management method for SEV.
TASK 2: The relationship between leadership and management in a contemporary business
environment
I. Analyze the expectations of stakeholders of Samsung Electronic Vietnam
Stakeholders are undeniably important in every corporation and its business. The actions and
decisions made by the organization when operating an enterprise influence on stakeholders
(Gibson, 2000). As a result, to ensure business profitability, satisfying stakeholder expectations
equals achieving stakeholder satisfaction. According to Samsung Sustainability Report 2020,
each stakeholder's priorities are as follows:
6
1, Stakeholders of Samsung Electronic Vietnam
Internal stakeholders
Stakeholders Expectations Actions of Samsung Vietnam
Employees
- Working environments that
are safe
- Diversity and integration
- Lots of training course and
career advancement
opportunities
- Job security and compensation
- Employment stability and lots
of benefits with transparent
policy
- Management of the working climate
- Create a creative culture in the
workplace
- Apply many personalized job
growth programs
- Organize business briefings
External stakeholders
Stakeholders Expectations Actions of Samsung Vietnam
Governments
- A fair trade
- The health and safety of the
workforce
- The company's legal
enforcement
- Create recommendations on
operating SMEs support services for
government departments by policy
meetings
- Establish and run a venture
investment scheme in collaboration
with the government
Local
communities
- Revitalizing the local
economy
- Protection of the environment
- Contributions of money and
volunteer campaign
- SMEs in the area are helping to fund
projects like the building of smart
factories
- Streams surrounding construction
sites are being preserved
- Has employee volunteer groups
7
Internal stakeholders
Stakeholders Expectations Actions of Samsung Vietnam
Employees
- Working environments that
are safe
- Diversity and integration
- Lots of training course and
career advancement
opportunities
- Job security and compensation
- Employment stability and lots
of benefits with transparent
policy
- Management of the working climate
- Create a creative culture in the
workplace
- Apply many personalized job
growth programs
- Organize business briefings
External stakeholders
Stakeholders Expectations Actions of Samsung Vietnam
Governments
- A fair trade
- The health and safety of the
workforce
- The company's legal
enforcement
- Create recommendations on
operating SMEs support services for
government departments by policy
meetings
- Establish and run a venture
investment scheme in collaboration
with the government
Local
communities
- Revitalizing the local
economy
- Protection of the environment
- Contributions of money and
volunteer campaign
- SMEs in the area are helping to fund
projects like the building of smart
factories
- Streams surrounding construction
sites are being preserved
- Has employee volunteer groups
7
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NGOs, CSR
Councils,
Specialized
Institutions
- Dedicated to the well-being of
local people and the
community
- Contribution to the UN SDGs
- Publish company information
in a timely, quickly, and
transparently
- Obtain feedback from international
NGOs
- The company holds conferences and
talks with NGOs, and its operations
(RBA, GeSI, RMI..)
Media
Information should be made
public as soon as possible and
in a straightforward manner
Support delivering news via Samsung
Newsroom Vietnam
Connected stakeholders
Stakeholders Expectations Actions of Samsung Vietnam
Shareholders
& Investors
- Company's economic
performance
- Risk management of the
company
- Environmental, social,
governance, and other
sustainability concerns
- Maintain a stable and growing
revenue
- Enhance the company's dividend
policies for shareholders
- External sponsorships are run in a
transparent manner
Suppliers
- Commerce that is fair
- Shared prosperity
- Security in labor and civil
rights
- Encourage manufacturers to pursue
innovative ideas.
- Traffic Technology Fair
- Suppliers are financially supported
and have fair dealings
- Manage the working conditions of
suppliers responsibly
- Desire the value of a good
product or service, reasonable
price
- Improve product quality continuity
and the management system
8
Councils,
Specialized
Institutions
- Dedicated to the well-being of
local people and the
community
- Contribution to the UN SDGs
- Publish company information
in a timely, quickly, and
transparently
- Obtain feedback from international
NGOs
- The company holds conferences and
talks with NGOs, and its operations
(RBA, GeSI, RMI..)
Media
Information should be made
public as soon as possible and
in a straightforward manner
Support delivering news via Samsung
Newsroom Vietnam
Connected stakeholders
Stakeholders Expectations Actions of Samsung Vietnam
Shareholders
& Investors
- Company's economic
performance
- Risk management of the
company
- Environmental, social,
governance, and other
sustainability concerns
- Maintain a stable and growing
revenue
- Enhance the company's dividend
policies for shareholders
- External sponsorships are run in a
transparent manner
Suppliers
- Commerce that is fair
- Shared prosperity
- Security in labor and civil
rights
- Encourage manufacturers to pursue
innovative ideas.
- Traffic Technology Fair
- Suppliers are financially supported
and have fair dealings
- Manage the working conditions of
suppliers responsibly
- Desire the value of a good
product or service, reasonable
price
- Improve product quality continuity
and the management system
8
Customers - The product is guaranteed to
be safe to use
- Accurate and public product
information
- Product information be available on
official websites
- Gather and respond to customer
feedback
2, Balance between the expectations of Samsung Vietnam’s stakeholders
Stakeholder expectations will inevitably clash because Samsung stakeholders have different
kinds of expectations. SEV has straightforward priorities in achieving activities that satisfy the
various demands of the stakeholders, with the aim of moving the enterprise in a good path.
Conflicts will also arise, however, because each stakeholder's thought and perception are
different.
During the time of fighting the covid-19 epidemic, although the number of global orders
decreased, leading to a decrease in the operating rate of factories, there was not a single employee
among total 130,000 employees of SEV lost their jobs or had to take unpaid (Nguyen Duc, 2021).
Not just that, but Samsung has coordinated the hiring of additional staff. SEV workers and the
local population endorse this, but it irritates shareholders that it could result in a drop in earnings.
Samsung's executives, on the other hand, have become extremely innovative when it comes to
inspiring and orienting employees, pledging to work together to build gains to counter the need
for more capital.
Every time a new phone product is launched, Samsung always has a higher price than
previously launched products because the company wants to meet the needs of shareholders and
optimize profits (Thuy, 2020). Many consumers, however, were opposed to the product's price
rise. Thus, SEV announces unique characteristics and values of its products, as well as various
market segments in product diversity, in order to balance the needs of consumers and
shareholders. In addition, the firm provides consumers with complimentary benefits and a highly
preferential warranty.
II. Factors affecting organizational management and decision-making by leaders and
managers in the business environment
1, PESTEL
a) POLITICAL - LEGAL
A company must enact legislation set by the government before doing business, so
9
be safe to use
- Accurate and public product
information
- Product information be available on
official websites
- Gather and respond to customer
feedback
2, Balance between the expectations of Samsung Vietnam’s stakeholders
Stakeholder expectations will inevitably clash because Samsung stakeholders have different
kinds of expectations. SEV has straightforward priorities in achieving activities that satisfy the
various demands of the stakeholders, with the aim of moving the enterprise in a good path.
Conflicts will also arise, however, because each stakeholder's thought and perception are
different.
During the time of fighting the covid-19 epidemic, although the number of global orders
decreased, leading to a decrease in the operating rate of factories, there was not a single employee
among total 130,000 employees of SEV lost their jobs or had to take unpaid (Nguyen Duc, 2021).
Not just that, but Samsung has coordinated the hiring of additional staff. SEV workers and the
local population endorse this, but it irritates shareholders that it could result in a drop in earnings.
Samsung's executives, on the other hand, have become extremely innovative when it comes to
inspiring and orienting employees, pledging to work together to build gains to counter the need
for more capital.
Every time a new phone product is launched, Samsung always has a higher price than
previously launched products because the company wants to meet the needs of shareholders and
optimize profits (Thuy, 2020). Many consumers, however, were opposed to the product's price
rise. Thus, SEV announces unique characteristics and values of its products, as well as various
market segments in product diversity, in order to balance the needs of consumers and
shareholders. In addition, the firm provides consumers with complimentary benefits and a highly
preferential warranty.
II. Factors affecting organizational management and decision-making by leaders and
managers in the business environment
1, PESTEL
a) POLITICAL - LEGAL
A company must enact legislation set by the government before doing business, so
9
political and legal authorities have a significant impact on its business practices. Samsung
Electronics Vietnam Co., Ltd. is an enterprise with foreign elements, so it needs to comply
with very strict conditions. In Vietnam, the establishment of enterprises with foreign
elements needs to consider the business lines according to WTO commitments and the
charter capital for import-export companies such as SEV is 50,000 USD or more.
The ruling state is the State of the Socialist Republic of Vietnam, which has the authority
to monitor or participate in decision-making, as well as to take over and nationalize a
company's assets. The laws passed by the heads of state's congress, on the other hand, are
aimed at restoring order and preserving justice for all people (Constitution and political
system, 2020). SEV has the potential to grow its sector and perform reasonably and equally
with competitors in the same industry since it is located in Vietnam's state political system. In
addition, the Vietnamese government also has policies to protect the rights and health of
workers such as extending working time less than 8 hours/day; for particularly dangerous and
arduous jobs, the maximum working time per day is 6 hours (Article 104, Section 1,
Amended labor code 2012).
b) ECONOMIC
Country:
GDP
According to The World Bank, Vietnam is one of the few countries in the world with positive
economic growth with GDP estimated at 2.9% in 2020. The economy is forecasted to grow
by 6.6% in 2021 if Vietnam controls well the spread of corona virus, while export-oriented
manufacturing industries perform well, and domestic demand recovers strongly. However,
due to the re-emergence of the covid epidemic, it has led to a decrease in people's income in
2021 compared to 2020, thereby leading to a decrease in purchasing power. This is
considered as one of the obstacles for SEV.
Export - Import
According to the General Statistics Office (2020), the overall export turnover of products in
2020 of Vietnam is expected to be 281.5 billion USD, with phones and parts accounting for
the highest share of this increase at 50.9 billion USD, or 18.1 percent of total export turnover.
In addition, import turnover in 2020 will reach 262.4 billion USD, focusing mainly on goods
necessary for production and export, including machinery, equipment, raw materials for
production and export. This has a positive impact on Vietnam's economy, especially the
10
Electronics Vietnam Co., Ltd. is an enterprise with foreign elements, so it needs to comply
with very strict conditions. In Vietnam, the establishment of enterprises with foreign
elements needs to consider the business lines according to WTO commitments and the
charter capital for import-export companies such as SEV is 50,000 USD or more.
The ruling state is the State of the Socialist Republic of Vietnam, which has the authority
to monitor or participate in decision-making, as well as to take over and nationalize a
company's assets. The laws passed by the heads of state's congress, on the other hand, are
aimed at restoring order and preserving justice for all people (Constitution and political
system, 2020). SEV has the potential to grow its sector and perform reasonably and equally
with competitors in the same industry since it is located in Vietnam's state political system. In
addition, the Vietnamese government also has policies to protect the rights and health of
workers such as extending working time less than 8 hours/day; for particularly dangerous and
arduous jobs, the maximum working time per day is 6 hours (Article 104, Section 1,
Amended labor code 2012).
b) ECONOMIC
Country:
GDP
According to The World Bank, Vietnam is one of the few countries in the world with positive
economic growth with GDP estimated at 2.9% in 2020. The economy is forecasted to grow
by 6.6% in 2021 if Vietnam controls well the spread of corona virus, while export-oriented
manufacturing industries perform well, and domestic demand recovers strongly. However,
due to the re-emergence of the covid epidemic, it has led to a decrease in people's income in
2021 compared to 2020, thereby leading to a decrease in purchasing power. This is
considered as one of the obstacles for SEV.
Export - Import
According to the General Statistics Office (2020), the overall export turnover of products in
2020 of Vietnam is expected to be 281.5 billion USD, with phones and parts accounting for
the highest share of this increase at 50.9 billion USD, or 18.1 percent of total export turnover.
In addition, import turnover in 2020 will reach 262.4 billion USD, focusing mainly on goods
necessary for production and export, including machinery, equipment, raw materials for
production and export. This has a positive impact on Vietnam's economy, especially the
10
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commodity export industry like SEV has more opportunities for development. However, due
to the negative effects of covid-19, the manufacture of SEV goods was temporarily halted.
As a result, demand for goods and services falls, resulting in a backlog of SEV products in
particular and the production sector of technical electronic products in general.
Industry – Market:
In Vietnam, Samsung's profits in the manufacturing industry of high-tech electronic products
are quite high due to high market barriers in the industry, few major competitors, and low
power of customers and suppliers. Samsung is a long-established company, so it has high
brand awareness and customer loyalty. In 2020, Samsung's market share accounted for 20%
with 255.6 million shipments, leading the smartphone market (Canalys, 2020). Businesses
frequently have a primary goal: profit or not-for-profit. SEV may be calculated to be a
benefit corporation based on its corporate objectives. SEV, on the other hand, aims to adhere
to societal and environmental conservation values in the manufacturing process. In addition,
Samsung also has to compete with a large electronics manufacturer that has a smartphone
market share position right behind it, Apple (16% market share in 2020). In the high-end
phone segment in terms of price, Samsung is almost unable to compete with Apple.
However, the company has competitive strategies to maximize its profits such as launching
the S10 smartphone at 1000 USD, directly confronting the iPhone 11 Pro (Liam, n.d). In
addition, Samsung also creates many low-priced products to serve consumer needs and
compete with other phone manufacturers, maximizing profits for the company.
c) SOCIAL – CULTURE
In 2020, the population of Vietnam has 48.99 million women and 48.6 million men with a
working age population of about 74.18 million people (Satista, 2021). This can be considered
as an opportunity for SEV as the company aims to recruit the majority of female employees.
Confucius countries like Vietnam usually have a high Power Distance ratio of around
70%, while Long-term Orientation and Masculinity are 30% and 40% respectively (Hofstede
Insight, 2020). It can be seen that the Vietnamese workforce is focused on "working to live,"
and administrators are constantly striving to make choices based on unity, dignity, and
cohesion. Leaders at SEV often gather input from staff and consumers before making
decisions in order to make informed decisions. People in a low UAI society can work
flexibly, hard, and accept innovation if it is required. As a result, SEV's continuous
improvement management strategy has been very fruitful in Vietnam, assisting the
11
to the negative effects of covid-19, the manufacture of SEV goods was temporarily halted.
As a result, demand for goods and services falls, resulting in a backlog of SEV products in
particular and the production sector of technical electronic products in general.
Industry – Market:
In Vietnam, Samsung's profits in the manufacturing industry of high-tech electronic products
are quite high due to high market barriers in the industry, few major competitors, and low
power of customers and suppliers. Samsung is a long-established company, so it has high
brand awareness and customer loyalty. In 2020, Samsung's market share accounted for 20%
with 255.6 million shipments, leading the smartphone market (Canalys, 2020). Businesses
frequently have a primary goal: profit or not-for-profit. SEV may be calculated to be a
benefit corporation based on its corporate objectives. SEV, on the other hand, aims to adhere
to societal and environmental conservation values in the manufacturing process. In addition,
Samsung also has to compete with a large electronics manufacturer that has a smartphone
market share position right behind it, Apple (16% market share in 2020). In the high-end
phone segment in terms of price, Samsung is almost unable to compete with Apple.
However, the company has competitive strategies to maximize its profits such as launching
the S10 smartphone at 1000 USD, directly confronting the iPhone 11 Pro (Liam, n.d). In
addition, Samsung also creates many low-priced products to serve consumer needs and
compete with other phone manufacturers, maximizing profits for the company.
c) SOCIAL – CULTURE
In 2020, the population of Vietnam has 48.99 million women and 48.6 million men with a
working age population of about 74.18 million people (Satista, 2021). This can be considered
as an opportunity for SEV as the company aims to recruit the majority of female employees.
Confucius countries like Vietnam usually have a high Power Distance ratio of around
70%, while Long-term Orientation and Masculinity are 30% and 40% respectively (Hofstede
Insight, 2020). It can be seen that the Vietnamese workforce is focused on "working to live,"
and administrators are constantly striving to make choices based on unity, dignity, and
cohesion. Leaders at SEV often gather input from staff and consumers before making
decisions in order to make informed decisions. People in a low UAI society can work
flexibly, hard, and accept innovation if it is required. As a result, SEV's continuous
improvement management strategy has been very fruitful in Vietnam, assisting the
11
organization in achieving those goals.
d) TECHNOLOGICAL - ENVIRONMENT
Climate change and CO2 emissions are an environmental issue of concern to the world
and many countries. It directly affects human life and entails many extremely bad
consequences if people do not take actions to protect nature. Vietnam tends to increase CO2
in recent years and the temperature increase is forecast to range from 1.0 to 3.4 degrees
Celsius (The World Bank, 2020). This can have a multi-faceted negative impact on SEV's
production and business activities, with production interruptions, reduced labor productivity,
increased production costs, stagnation of the distribution network, etc. ...Recognizing the
importance of protecting the environment, Samsung has developed highly energy efficient
products, installed equipment with minimal greenhouse gas (GHG) emissions, and focused
on harnessing the energy of the environment. renewable energy to contribute to a lower-
emissions future (Samsung, 2021). SEV expands emissions management at every level, using
advanced technology like IoT to develop energy-saving algorithms in outdoor climates, and
HVAC in production to control optimal mechanical equipment operation infrastructure...
2, Decision-making by leaders and managers in the business environment
In the information technology equipment manufacturing industry, especially the smartphone
market, Samsung faces many competitors. Product differentiation still creates competition among
manufacturers because the mainstream design for an ideal smartphone has not yet appeared, so
each change in technology and the increase of new products makes the market more attractive
(Grazia, et.al, 2014). Thus, the smartphone market has become extremely dynamic. Because of
being in a dynamic and changing business environment, the decision-making process of leaders
and managers at Samsung must be swift.
3, Stakeholders' influence on operational management and decision-making by leaders and
managers
12
High
Interest
d) TECHNOLOGICAL - ENVIRONMENT
Climate change and CO2 emissions are an environmental issue of concern to the world
and many countries. It directly affects human life and entails many extremely bad
consequences if people do not take actions to protect nature. Vietnam tends to increase CO2
in recent years and the temperature increase is forecast to range from 1.0 to 3.4 degrees
Celsius (The World Bank, 2020). This can have a multi-faceted negative impact on SEV's
production and business activities, with production interruptions, reduced labor productivity,
increased production costs, stagnation of the distribution network, etc. ...Recognizing the
importance of protecting the environment, Samsung has developed highly energy efficient
products, installed equipment with minimal greenhouse gas (GHG) emissions, and focused
on harnessing the energy of the environment. renewable energy to contribute to a lower-
emissions future (Samsung, 2021). SEV expands emissions management at every level, using
advanced technology like IoT to develop energy-saving algorithms in outdoor climates, and
HVAC in production to control optimal mechanical equipment operation infrastructure...
2, Decision-making by leaders and managers in the business environment
In the information technology equipment manufacturing industry, especially the smartphone
market, Samsung faces many competitors. Product differentiation still creates competition among
manufacturers because the mainstream design for an ideal smartphone has not yet appeared, so
each change in technology and the increase of new products makes the market more attractive
(Grazia, et.al, 2014). Thus, the smartphone market has become extremely dynamic. Because of
being in a dynamic and changing business environment, the decision-making process of leaders
and managers at Samsung must be swift.
3, Stakeholders' influence on operational management and decision-making by leaders and
managers
12
High
Interest
Employees
Governments
Local communities
Media
Shareholder & Investors
NGOs, CSR Councils, Specialized Institutions
Suppliers
Customers
In general, all stakeholders have an impact on or are impacted by the business. The stakeholder
map above depicts Samsung Electronic Vietnam's internal, external, and connected stakeholder
groups.
a) Employees
Employees are an abundant resource and contribute to the performance and income of a business.
Decisions about salary or remuneration in the workplace are something that employees are
extremely concerned about because it has a great impact on their lives. Considering employees as
an important part of the business and helping them to ensure their standard of living, SEV applies
an average salary of 6.7-8 million VND/ month for workers, 18-25 million VND/ month for
engineers (Samsung Sustainability Report, 2020).
b) Governments
The government is a very influential stakeholder for every business, having an indirect impact on
the economy. The leaders at SEV always assure the state that the fire processes produced at the
factory are legal and clear. In addition to paying taxes transparently, clearly and on time, the
13
High
Low
Low Power
Governments
Local communities
Media
Shareholder & Investors
NGOs, CSR Councils, Specialized Institutions
Suppliers
Customers
In general, all stakeholders have an impact on or are impacted by the business. The stakeholder
map above depicts Samsung Electronic Vietnam's internal, external, and connected stakeholder
groups.
a) Employees
Employees are an abundant resource and contribute to the performance and income of a business.
Decisions about salary or remuneration in the workplace are something that employees are
extremely concerned about because it has a great impact on their lives. Considering employees as
an important part of the business and helping them to ensure their standard of living, SEV applies
an average salary of 6.7-8 million VND/ month for workers, 18-25 million VND/ month for
engineers (Samsung Sustainability Report, 2020).
b) Governments
The government is a very influential stakeholder for every business, having an indirect impact on
the economy. The leaders at SEV always assure the state that the fire processes produced at the
factory are legal and clear. In addition to paying taxes transparently, clearly and on time, the
13
High
Low
Low Power
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company also focuses on environmental protection when planning specific solutions to protect
water and air around the production area (Samsung Sustainability Report, 2020).
c) Local communities
The local communication can be considered as a major influential stakeholder in the Samsung
factory. To support and meet their expectations, Samsung opened Samsung Hope School in Bac
Ninh in 2013, providing physical education and after-school English courses and free dinner to
needy students in the locality (Samsung Sustainability Report, 2020).
d) Media
The media has a high influence on companies related to the production line of electronic
technology equipment such as Samsung. The interest of the network media for big enterprises is
very high. Therefore, Samsung developed the Samsung Newsroom Vietnam channel to provide
easy access to information to the media. Furthermore, Samsung executives arrange and engage in
daily news releases, ensuring that all business operations are transparent (Samsung Sustainability
Report, 2020).
e) Shareholder & Investors
Shareholders and investors both have a strong interest in and control over a business. The way
the company manages and optimizes earnings is really something they care about. Samsung
maintains the interests of shareholders and investors by ensuring increased profits through new
product development and attracting new customers (Samsung Engineering Sustainability Report,
2016).
f) NGOs, CSR Councils, Specialized Institutions
Connecting practices with NGOs, CSR Councils, and Specialized Institutions all have advantages for a
business. In addition to compliance with regulations, peaceful communication between organizations,
Samsung also strives to fulfil the expectations that this stakeholder has for the company.
g) Suppliers
Supply and demand pressure due to the corona virus epidemic has had a direct negative impact
on thousands of Samsung suppliers from production to customer service. Since the organization
views vendors as important stakeholders, it has provided stabilization funds and logistics costs to
suppliers whose operations have been impacted (Samsung Sustainability Report, 2020).
h) Customers
Customers are the preferred stakeholders of any business because they are the ones who bring
profits to the company. Recognizing the importance of customers, Samsung always has specific
14
water and air around the production area (Samsung Sustainability Report, 2020).
c) Local communities
The local communication can be considered as a major influential stakeholder in the Samsung
factory. To support and meet their expectations, Samsung opened Samsung Hope School in Bac
Ninh in 2013, providing physical education and after-school English courses and free dinner to
needy students in the locality (Samsung Sustainability Report, 2020).
d) Media
The media has a high influence on companies related to the production line of electronic
technology equipment such as Samsung. The interest of the network media for big enterprises is
very high. Therefore, Samsung developed the Samsung Newsroom Vietnam channel to provide
easy access to information to the media. Furthermore, Samsung executives arrange and engage in
daily news releases, ensuring that all business operations are transparent (Samsung Sustainability
Report, 2020).
e) Shareholder & Investors
Shareholders and investors both have a strong interest in and control over a business. The way
the company manages and optimizes earnings is really something they care about. Samsung
maintains the interests of shareholders and investors by ensuring increased profits through new
product development and attracting new customers (Samsung Engineering Sustainability Report,
2016).
f) NGOs, CSR Councils, Specialized Institutions
Connecting practices with NGOs, CSR Councils, and Specialized Institutions all have advantages for a
business. In addition to compliance with regulations, peaceful communication between organizations,
Samsung also strives to fulfil the expectations that this stakeholder has for the company.
g) Suppliers
Supply and demand pressure due to the corona virus epidemic has had a direct negative impact
on thousands of Samsung suppliers from production to customer service. Since the organization
views vendors as important stakeholders, it has provided stabilization funds and logistics costs to
suppliers whose operations have been impacted (Samsung Sustainability Report, 2020).
h) Customers
Customers are the preferred stakeholders of any business because they are the ones who bring
profits to the company. Recognizing the importance of customers, Samsung always has specific
14
policies and actions to satisfy customers. The company always has channels to listen and support
customers when they are needed (Samsung, 2021). In addition, customer feedback on products is
carefully considered by the company in the process of creating new products.
15
customers when they are needed (Samsung, 2021). In addition, customer feedback on products is
carefully considered by the company in the process of creating new products.
15
CONCLUSION
This study investigated and assessed Samsung Electronic Vietnam's operations management,
evaluating the role and nature of operations management in guiding the organization to long-term
growth. In addition, several external factors affecting organizational management and decision-
making are identified and evaluated, and the metrics are then interpreted to balance the different
expectations of stakeholders of the company.
16
This study investigated and assessed Samsung Electronic Vietnam's operations management,
evaluating the role and nature of operations management in guiding the organization to long-term
growth. In addition, several external factors affecting organizational management and decision-
making are identified and evaluated, and the metrics are then interpreted to balance the different
expectations of stakeholders of the company.
16
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at:<https://climateknowledgeportal.worldbank.org/sites/default/files/2020-09/15077-Vietnam
%20Country%20Profile-WEB_1.pdf>
The World Bank, 2021. Vietnam Overview [online] Available at:<
https://www.worldbank.org/vi/country/vietnam/overview>
Thuy, H. 2020. Why is the price of smartphones always increasing and not decreasing?
Vietstock [online] Available at:<https://vietstock.vn/2020/07/vi-sao-gia-ban-dien-thoai-
thong-minh-luon-tang-ma-khong-giam-4264-776408.htm>
Trang, N., 2021. Smartphone sales boom, Samsung Electronics expects profit to increase by
45%. VnEconomy [online] Available at: < https://vneconomy.vn/doanh-thu-smartphone-
bung-no-samsung-electronics-du-kien-lai-tang-45.htm>.
Worldwide smartphone shipments Q4 2020 and full year 2020. Canalys [online] Available
at:<https://www.canalys.com/newsroom/global-smartphone-shipment-Q4-2020>
19
evolution: three different perspectives and guiding principles”, International Journal of Lean
Six Sigma, Vol. 2 No. 4, pp. 288-308.
The Workd Bank, 2020. Climate Risk Country Profile Vietnam [online] Available
at:<https://climateknowledgeportal.worldbank.org/sites/default/files/2020-09/15077-Vietnam
%20Country%20Profile-WEB_1.pdf>
The World Bank, 2021. Vietnam Overview [online] Available at:<
https://www.worldbank.org/vi/country/vietnam/overview>
Thuy, H. 2020. Why is the price of smartphones always increasing and not decreasing?
Vietstock [online] Available at:<https://vietstock.vn/2020/07/vi-sao-gia-ban-dien-thoai-
thong-minh-luon-tang-ma-khong-giam-4264-776408.htm>
Trang, N., 2021. Smartphone sales boom, Samsung Electronics expects profit to increase by
45%. VnEconomy [online] Available at: < https://vneconomy.vn/doanh-thu-smartphone-
bung-no-samsung-electronics-du-kien-lai-tang-45.htm>.
Worldwide smartphone shipments Q4 2020 and full year 2020. Canalys [online] Available
at:<https://www.canalys.com/newsroom/global-smartphone-shipment-Q4-2020>
19
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