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Overview of Corporation Background and Management Strategies of Samsung Company

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Samsung is a multinational company incorporated in the Republic of Korea and is a multinational company. The company has several subsidiaries. The companies are united under the Samsung brand. Founded in 1938, the company is involved in the food, textile, Electronics, industries, shipbuilding and many more. The company has a strong influence on South Korea’s development, politics, media and economic culture. Its revenue is 17% of the country’s total revenue of US $ 1,082 billion.

The company has sponsored many sporting and artistic events and sports clubs such as Chelsea for 10 years since 2005.It is the largest mobile phone manufacturer and the second largest manufacturer of semiconductors, semiconductors and segments. Since 2006 it has been the largest manufacturer of TVs and LCD screens.

Samsung Group operates in a number of sectors, including heavy industry, shipbuilding and even building skyscrapers such as Khalifa tower in Dubai.

Services and products offered by Samsung:

  • Phone Systems
  • Security Solutions
  • Cabling Service
  • Integrated Data Solutions
  • Board Room Media Solutions and Home Theater Solutions
  • Smart phones
  • Computers and laptops
  • Electrical products.

Case of competition in Samsung

Samsung followed a different strategy in its work compared to other competitors in South Korea. In the early stages I realized the importance of research and development in the company and wanted to be recognized by the world as a global brand.

In the 1980s, the company focused on manufacturing high-quality products, while most competitors focused on large-scale production to meet growing demand regardless of the quality of the products.

Samsung has been re-investing its profits in R & D and improving the supply chain to ensure that markets are supplied with high-quality products without interruptions. In the long term, Samsung has planned to invest in innovation, brand and specialty products, while Korean competitors have focused more on short-term goals such as maximizing product profits.

Management strategies and processes/ operations model

Long-term focus: Samsung has changed its mindset from being a company aiming at short-term goals to being a company focused on long-term goals. In 1993, Samsung changed its logo and the company’s name became written in English in order to win the attention of consumers around the world.

Commitment to manufacturing: Samsung confirms that its manufacturing is one of the core points of its business model.

Flexibility: Samsung’s factories are distributed not only in South Korea, but also have factories in China and India to take advantage of the cheap labor there, to bring them closer to their headquarters and to provide international transport and shipping capabilities.

Focus on hardware: Samsung decided to distance itself from the development of software, systems and content so as not to fall into the spiral of piracy and intellectual property rights and others. So I went entirely in focusing on the hardware industry. Today, they can develop new products and new technologies more efficiently without relying on external suppliers.

Various products: It is clear that a Samsung-sized company does not rely on one sector of products in accordance with a principle that does not put eggs in one basket. Today, it manufactures televisions, smart phones, chipsets, flash drives, MP3 players, DVD players, etc. Samsung not only manufactures different products to meet different sectors, but also leads them. Today it is the best in the NAM processor and memory processor used in cameras, which is stored three times more than Intel’s NOR memory cards and offers them at a close price.

Focus on marketing: In order to move Samsung from a “cheap hardware manufacturer” to a “company that offers high-value-added products”, Samsung had to develop its brand significantly, so it was necessary to focus on effective marketing.

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Overview Of Corporation Background And Management Strategies Of Samsung Company. (2019, August 27). GradesFixer. Retrieved October 20, 2021, from https://gradesfixer.com/free-essay-examples/overview-of-corporation-background-and-management-strategies-of-samsung-company/
“Overview Of Corporation Background And Management Strategies Of Samsung Company.” GradesFixer, 27 Aug. 2019, gradesfixer.com/free-essay-examples/overview-of-corporation-background-and-management-strategies-of-samsung-company/
Overview Of Corporation Background And Management Strategies Of Samsung Company. [online]. Available at: <https://gradesfixer.com/free-essay-examples/overview-of-corporation-background-and-management-strategies-of-samsung-company/> [Accessed 20 Oct. 2021].
Overview Of Corporation Background And Management Strategies Of Samsung Company [Internet]. GradesFixer. 2019 Aug 27 [cited 2021 Oct 20]. Available from: https://gradesfixer.com/free-essay-examples/overview-of-corporation-background-and-management-strategies-of-samsung-company/
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