Management and Samsung
Contents I. Introduction – Executive Summary:2 II. Critical Success Factors4 1. Wise R&D Strategy:4 2. Strong intellectual Capital:5 3. Self-weakness recognition5 4. Effective Supply Chain Management7 5. Effective Marketing Strategy:8 6. SAMSUNG’s culture and leadership:10 III. Conclusion14 References:15 I. Introduction – Executive Summary: Electronic products now are the necessary part in household and they provide the conveniences make living of people better. However, the awareness of people now progressively has improved, lead to the higher expectation in quality of products.
It provides both opportunities and threats for electronics companies. SAMSUNG is the company which seized the opportunities to growth from small export business to world’s leading electronics company, which specializes in digital appliances and media, semiconductors, memory, and system integration. SAMSUNG was found on 1st of March, 1938 by Byung-Chull Lee in Taegu, Korea with only 30. 000 won. At the start, SAMSUNG focused primarily on trade export, agricultural products such as dried fish, vegetable and fruit to Manchuria and Beijing.
Within a decade, SAMSUNG owned flour mills and confectionary machines became a co-operation in 1951. From 1958, Samsung began to broaden into other businesses such as financial, media, chemicals and ship building during the 1970’s before it specialized in electronics manufacturing and continued expand their business on global market in 1990. In 1997 the majority of Korean businesses got smaller in size and Samsung was no exception. They had to sell and dropped some businesses to reduce debt and cut employees down lowering personnel by 50,000.
But they managed to control that situation and continue to grow after restructure old businesses and enter the new ones with the aim of becoming one of the world’s top five electronics companies. Adapt with the changing tech world, SAMSUNG gradually became the famous name in electronics markets and now over more than 60 years, SAMSUNG becomes market leader in electronics market when it has market share in almost countries in the world, especially in Asia, the largest market of SAMSUNG.
For examining the Critical Success Factors (CSFs) of the multinational corporation, SAMSUNG would be rather useful. It is essential to indicate the following Critical Success Factors of SAMSUNG that were in fact implemented to corporation’s strategy as main precedence in the long-term to become the leader in markets. ?Wise R Strategy ?Strong Intellectual Capital ?Self-Weakness Recognition ?Effective Supply Chain Management ?Effective Marketing Strategy ?SAMSUNG’s culture and leadership
