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Business Strategy: Strategic Analysis Of The Samsung Group

1551 Words7 Pages

INTRODUCTION

The Samsung Group of companies, founded in 1938, is recognized as a leading mix of global manufacturing, financial, and services, focusing on areas such as textiles, shipbuilding, machinery, and chemicals. Along with this, Samsung has made huge investments in the electronics and semiconductor industry since the 1980s. With its effort that put in research and development division and its ambitious business strategy, it brings Samsung Group to be now one of the world 's most recognized company. In this business analysis, there will be, started of with the history of Samsung, followed up with external environment, Porter’s competitive five forces, internal analysis, competitive strategies, corporate strategies, international strategies, …show more content…

In 1947, the company’s head office was relocated to Seoul, but due to the Korean War, it shortly left the country. As a result, Lee Byung Chull started a new sugar refinery in Busan called Cheil Jedang. After he saved up some certain amount of money, Mr. Lee founded another business named Cheil Mojik in Daegu, which was the largest woollen mill ever in the country.
With Lee’s effort, Samsung has been diversified and expanded into a wide rage of business, such as insurance, securities, retail and so on. In addition to Mr. Lee, President Park Chung Hee also played an important role in the development of Samsung. He focused on his economic development strategy on a handful of large domestic conglomerates, protecting them from competition and assisting them financially (Moon, …show more content…

Park Chung Hee was elected during that period, between 1960s and 1970s, his regime was characterized and aimed by increasing centralization of power, for both politics and industrial. In order to develop the economy rapidly, Park identified key industries and large, profitable companies within them. The government worked with the companies, providing protection from competition and financial assistance as part of a series of five-year national economic growth plans (“Samsung Electronics”, n.d.).
Samsung Electronics and the entire Samsung chaebol were beneficiaries from this policies. Several countries, including Japan, were barred from selling consumer electronics in South Korea, eliminating significant competition for Samsung. Furthermore, although Samsung Electronics was free to invest in overseas companies, foreign investors were forbidden to buy into Samsung. As a result, Samsung was able to quickly develop a thriving television and electronics division that controlled niches of the domestic market and even had an edge in some export

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