Samsung Electronics: Strategy And Competitive Advantage
“A company’s ability to respond to an unplanned event, good or bad is a prime indicator of its ability to compete.” Bill Gates. “If you don’t have a competitive advantage, don’t compete.” Jack Welch. That quotes show, how important to have a competitive advantage. In order to achieve competitive advantage, it is important to have strategy. “Strategy is about making choices, trade-offs; it 's about deliberately choosing to be different” Michael Porter. To have strategy and a competitive advantage is something a business must have. Business cannot survive if it doesn’t have a strategy or doesn’t know how to compete and make a competitive advantage. This essay will take about how to survive in business. To make it easier to understand, this essay will take Samsung Electronic as an example, so that managers or owners can get the point in a practical way. Let’s start with identifying Samsung Electronics. In 1938 Samsung was founded by Byung-Chull Lee in Taegu, Korea. It runs till now. So, before talking about what strategy Samsung used to achieve global competitive advantage. Let’s identifying what a strategy means. Lots of people put definition to make it easy to understand what a strategy means. In1962, Alfred chandler said that strategy means the determination of the basic, the long term goals, the objective of an enterprise, the allocation of resources necessary for those goals. In 1971, Andrews said that every business organization, any
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