Introduction / Past and present performance Multinational Corporations play an essential role is influencing the global economy and investments. One of such company is Samsung Electronics, which not only engages in manufacture, sales and maintenance service of electrical and electronic machines, but also involves in tertiary industries such as information technology and telecommunications. Despite being established in a vast range of businesses today, Samsung started off by producing black and white television sets for the local market in 1970. It then slowly moved into manufacturing other electronics devices namely semiconductors. Realizing the potential sales from international market, Samsung began to export its products causing diversity and growth to their business globally. Creating a global brand and image was critical to sustain and compete in the global market. Samsung became the official sponsor for the 1988 Olympics held in South Korea. This opened doors for Samsung to be recognised as a global brand. Today Samsung has sales networks and assembly plants in 80 countries with 370,000 employees worldwide. What Role Does the Business play in the Society The social and cultural aspect of a society varies between countries. These factors affect the demand and acceptable of a product. Samsung studies …show more content…
Samsung has created an online communication platform called ‘Samsung LiVe’ for its employees, in which memo can be posted on their personal live and internal issues. Members in the top management position will reply to some of this memo. Discussion on new products will also be conducted in this online platform where executives and senior managers take feedback from employees which results in increase production efficiency as well as better quality of products. This also enhances the communication and understanding of problem and internal issues of the
BSBMKG622 Task 1 1. Political - New legislation to follow so the business' approach changes Economic - Inflation changes the discounted price or sales price of the business' marketing approach Social - the taste and lifestyles of customers as the basis Technological - Advertising thru social media or other platforms to expand sales 2. Trend Examples Provide two for each trend. Economic conditions Inflation, exchange rates Labour market Unemployment rates, individual wages Society and culture Consumer's lifestyle, demographic Business and economics Human behavior and decisions, exchanging good and services Technology Production, marketing Resources and the environment Temperature, land Legislation, policy and regulation Business,
Operational Strategy Weaknesses Supplier Dependency- Verizon depends on various key suppliers and vendors for providing equipment and services including switch and network equipment, handsets and other devices and equipments required to operate its business and provide products to its customers; such as Apple, Saumsung, Motorola, Windows, LG, and Otterbox. The company’s handset and other device suppliers rely on one vendor for manufacturing and supplying vital components used in their devices. If these suppliers or vendors fail to offer equipment or service on time or fail to meet the company’s performance expectations, Verizon may not be able to offer products and services required by the customers. The company also may not be able to continue to maintain nor improve the network. In addition, the company’s business may get disrupted if it requires or chose to replace the products or services of one or more major
Communication is a tool with which we exercise our influence on others, bring out changes in our and others’ attitudes, motivate the people around us and establish and maintain relationships with them. Communication makes a major part of our active life and is a social activity. People communicate in both personal and professional capacities for a variety of different reasons. In a work setting people may communicate to build relationships; maintain relationships; gain and share information; gain reassurance and acknowledgement; to express needs and feelings and to share thoughts and ideas. Share knowledge and ideas with others is critical for modern advancement and to make room for new ideas, especially as our technology stacks become increasingly complex and specialized.
A main component of this is a change in behavior of the consumer resulting from changes in styles and fashions. With the social factor, a business can resolve the socio-economic environment of its market via elements like customer demographics, cultural limitations, lifestyle attitude, and education .These factors help Alphabet Games examine consumer needs and what pushes them to make buys. Among the things that should be studied are country demographics, population growth rates, age distribution, positions toward work, way of life changes, training and ecological and health
Political Forces: The political stability is very important for the business to grow and last, according to that if the business has been operated in a politically unstable area, or in a country that is under a threat of wars that will lead to a loss for the business. Politics and governmental interferes is an important issue that is facing businesses and became a barrier in many situations. GAP Inc.
Samsung implements the strategy of “ Red Ocean;” which shows that a firm gains competitive advantage by venture into the current market and constructing on the weaknesses of other competitors in the field of similar products. Thus, Samsung“floods the market with many products” which are made by other companies within short duration of time ( Travos,2002). It seems that Samsung made these new products through developing many of manufacturing products of its Smartphones. However, such attitude is considered to be as a massive cost advantage over other firms that make such product. Samsung has improved its “competition position internationally through developing its present competitive strategies” , through depending on the other manufacturers`
The corporate culture also has an impact of the company's reputation and public
Porters Five Forces Analysis: Samsung Electronics Introduction Samsung Electronics focuses in three specific areas; Consumer Electronics, IT & Mobile Communications and Device Solution. Porter’s Five Forces model has been used to analyse Samsung Electronics competitive position within the global market they operate in. By using this model, an evaluation of their current position will highlight which of the five forces are “affecting the intensity of competition in an industry and its profitability level” (Jurevicius, 2013). Nevertheless, when conducting analysis on an international company such as this, studying of market trends is already carried out thoroughly to ensure that they are fully aware of that market, in order to achieve success and maintain within it. With this in mind, it would be considered that Samsung Electronics would have a relatively good competitive advantage against other rival companies.
As from the research found, Samsung are originally from South Korea. This means it is around the world. Hence, there will be a change in many aspects of global operations according to the local conditions. Samsung has also had to change its products to match the rapidly changing consumer preferences in certain markets. Samsung is
STREGNTHS AND WEAKNESS OF TRANSFORMATIONAL AND TRANSACTIONAL LEADERSHIP Many leadership styles are considered by many authors. Some people think that they must stick to one particular style but it will lead to the less efficient results. Styles must be considered as per the requirement of the given condition. Here strengths and weakness of the transformational and translocation leadership is given as below: TRANSFORMATIONAL LEADERSHIP
Political environment includes laws, government agencies, and pressure group that influence and limit various organizations and individuals in a given society. Economic environment consists of economic factors that affect consumer purchasing power and spending patterns. Social factors include the demographic and cultural aspects of the external macro environment. In which demography is the study of human population in terms of size, density, location, age, gender, race, occupation, and other statistics; cutural environment consist of institution of other forces that affect society’s basic values, perceptions, preferences, and behaviors. Therefore, these factors have an impact on customer’s needs and size of potential markets.
Individually, employees of Samsung are encouraged to take part in the many volunteer programs offered by the company. REVENUE STREAMS Samsung posted quarterly revenue of 51.68 trillion Korean won, or$45 billion. up 8.9% year over year.
• Change: Samsung always comes up with new products and innovative services in order to fulfill their customers’ needs and demands. • Integrity: Samsung makes sure that ethics are followed at each and every level and thus stay faithful and give respect to its stakeholders (Globart, 2012). • Co-prosperity: For a business to prosper, it is very much needed that auxiliaries, employers and others too, must be given opportunities to flourish. Samsung strongly believes in it and move ahead by taking everyone together. They are fulfilling their responsibilities towards society and environment as well by being a responsible corporate citizen (Annual Report, 2013).
Sensitive market to these kinds of products are commercial line and offices those has to get technological interface to attain day to day tasks. Samsung has contributed in so many innovative products to make users life easy such as tablets, mini laptops, and televisions to provide with the wide range of technology for personal use. Samsung is known for its colors and picture quality in the
Introduction In today’s society, it is common for employees to have many challenging responsibilities in their life other than work, for example, commitments involving parents or children, education or sports commitments or personal interests outside of work. People want to escape work for a greater sense of well-being and to reduce stress levels. A poor balance between an employee’s work commitments and their other responsibilities can lead to low productivity as well as high stress and absentees. Meanwhile, employees with better work-life balance often have a greater sense of responsibility, achievement, ownership and control of their working life.