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In 1938, Lee Byung-Chull was the founder of Samsung. In south Korean company, one most world largest producer of electronic devices it specializes of these productions for consumer, all kind of digital media devices, electronics, appliances, memory chips, integrated systems, semiconductors. 1970, new subsidiaries, came along like Heavy Industries, Shipbuilding, Precision Company were established. At same timing, organization started investing in petrochemical industries, heavy chemical, giving the organization with a growth path. In 1969, they entered the first electronics industry year with many various electronics divisions on their very first products, black-and-white televisions (Peter Bondarenko, 2019).
SWOT Analysis is famous that uses on audit, checking all kinds of strategic tactics for environment and business. Main point is to find ways to create a good business idea with best align for an organizations capabilities, resource of requirements of environment which firm operates. SWOT stand for Strengths, Weaknesses which belong to internal factors which organisations can control. Opportunities, Threats which belong to external factors which you do not have any control.
1) Comprehensive Product Portfolio
2) Geographical Reach
3) Improved Liquidity Position
4) Improving Financial Position
1) Exposure to Equity Financing
2) Legal Proceedings
3) Overdependence on Advertising
1) Demand for Smartphones
2) Launch of New Products
3) Outlook for Memory Products
4) Strategic Collaborations
2) Foreign Currency Fluctuations
3) Rise in Counterfeit Products
4) Mobile Computing
The organization focuses on manufacturing as well as marketing electronic product across world. More than 72 countries worldwide operate through a network of affiliates, subsidiaries. Product detail, geographical have reach the maximum strengths for organization. Organization have tried to be associated with counterfeit products, competition, with strategic collaborations, launched of latest products, positive market outlook ensures with higher revenue (John Dudoviskiy, 2017).
Rights Approach are mainly focusing on respecting human dignity. Approach filled with dignity is based on their ability to choose freely how they lives and how they have a moral right to respect others choices as rational people, equally, free in the same way. Organization respect human right, they do not practice unsustainable labour, circumstances, underpay or using child labour in regardless of race, gender, language or religious. They also strongly implementing that they do not looking down or comments against any bosses, including customers as well as employees (2017, Samsung).
CORPORATE SOCIAL RESPONSIBILITY
The company’s sustainability management will create better a value. Not only create good market price by increasing profits, shareholder’s values that also, taking for better responsibility as to create better social. As they bring out a creative products and services based on their core values that pursue in Samsung, generate great values in terms fields of environment and economy, society. Organizations also monitor upon financial, non-financial impacts that brought into society throughout such process in order to maximize their positive impacts in order to minimize any negative impact (Samsung, 2019).
4 KEY ELEMENTS TO A PLAN
In year 2020, there are few goals that been stated. Firstly, 5G network ready to be generating $400 billion and also become top global enterprises which organization have set. Looking into current 4G speed has increasing big revenue, organization also proven that can being achieve. Lastly, goal of organization has set time consideration of 10-year period which organization has.
Organization should fall under Tactical Action Plans.
Which organization division of labor through different departments.
Organization also budgeting on their products.
Organization using resources Tangible like as below:
Financial Cash Flow, Capital (Assets)
Organizational 5 Business Building Units
Physical Machinery=Fab Manufacturing
Technological Equipment=High Capacity production line
Organization using resources Intangible like as below:
Human Assets Recruit promoted successor scholarship
Brands Earned Value of $12.6 billion (21st of the world)
Company Reward outstanding performance for employee
Culture – They do not punish failure
Roles, responsibility of whole entire organization as well as its stake holders will be settled at it is approach. Both of leadership or top management that will be the most in implementing all kind of strategy. This primary ball bearer which are ongoing towards these strategy implementations which wont able to be to make it happen. It would be letting the managers who would create these tactics would be used for strategy idea. They pretend there a bridge between lower level employees, higher management to communicates. These reason behind which change is the main thing for the organization. Middle management would be taking care role and responsibility to look out these changes and keep all worker to focus on the change goals, objectives (Cavusgil. Et al. 2003).
Responsibility for lower level worker will able to make these changes of develop, services products which can back these changes. These workers are responsible to follow up with instruction to change and meets these objectives in a better manner. Other stakeholders like suppliers, customers, distributors etc. which they need extra convincing way in certain motivation from higher management. They could provide more and more facilities, profits. Just to ensure they remain firm towards this new strategy of organization.
Organizational their culture has been well functioning that reflecting traditional South Korea’s national culture. Positive aspects of a culture increasing levels of employee loyalty, fast in making decision. Negative side, seniority-oriented culture do not agree to junior employee for sharing their ideas to propose initiative to manager. Ideas with initiatives will show how insightful, play an important role in creating new a item or adding new features, function to existing products. Considering critical role of innovations, creativity in electronics industry, it can be argued that negative aspects of seniority-oriented corporate culture outweigh its positive aspects for Samsung (Jin-sik, S. ,2016).
Unity of command having strong organizational structure of management being accountable to have one authoritative leader. Work specialization, division of labor is based on fields of doing production in organization (Miles et.al, 1978). It means a subordinate should have only one supervisor.
Structure of organization are centralized as low-level managers dont have the power to make all kind of decision or not competent. Decision chain had filters from top most level seaming down to floor level management. These centralized structures make decisions are very important, major action as a decisive factor for organization. These decisions are well related to company strategic objectives which lower the chances taking the risk of dealing wrong and bad decisions. Organization has a geographically dispersed structure in division of power, decision of making abilities on putting top management team or specifically the chairman. Organization ensure a constant spirit of dealing with all these stakeholders.
Innovative type, it mean for cutting or reducing the edge of creative in which will decentralization with a superior feature of efficiency, judgements.
Span of control are numbers of employee working under a single manager. Chairman of the organization, span of control covered all the organization spread across globe. Structures of organization were large in degree of span of control. Organization consider a tall structure with Narrow organizational level based on their span of control.
Formalization are degree which mainly were taught by these cultures, laws, regulations, rules (Fredrickson, 1986). Degree of standardization are also known as formalization. This organization, employees at any levels of hierarchy were strictly told to follow all orders, decisions made by top management without any challenges.
Motivation is a set of forces that directs, initiates which makes people insist and motivate to their efforts to complete a goal (Williams & McWilliams, 2010, P.255). These were the total three set of motivation theories; one is McClelland’s Learned Needs Theory. Three motivators divide these theories itself.
These three motivators are achievement, affiliation, power. Organization applies this theory to motivate their employees.
Traditional Leadership Theories
As head of organization for 25 years, which become a leading global leader. Chairman Lee Kun-hee had said one genius can feed millions of others, giving enough stress to bring out the creativity of employees.
Samsung founder Lee Byung-chull, had instructed his staff to change everything except your wife and kids.
In the1980s, Samsung was too focusing on producing low-grading goods and doesn’t prepared to compete in quality.
Samsung was the listed of the worlds 10 most worthy of brands that select by Interbrand who the worlds consultancy leading brand management was. comparing with other industries, the worlds second-huge shipbuilder, Samsung Techwin and Samsung Engineering & Construction, Samsung C&T. Lee Kun-hee had shown his ability in leadership of Samsung, allowing company to be faster and more determinant in adjusting to the market changes and find all kind of new opportunities than its Japanese rivals. Economists had mention and shown the view that Samsung should motivate and recognize employee efforts by distributing profits to them as incentives. Samsungs hungry, can-do spirit also given to make a leading global technology company as employees have willingly dedicated their time and energy to its development, said Korea University professor Chang Sea-jin.
Organization is currently struggling to get its next-generation handset which is Samsung Galaxy Fold into market what makes it even more important for organization to see these devices as a part of bridge to less- smartphone in future. Smartphone design has hit a limit, thats why we design a folding phone, said Kang Yun-Je head of organization design team. Organization were focusing on other devices that are beginning to make a wider impact on market like smart earphones, smartwatches. In next 5 years or so, people will not realise they are wearing screens. It will be seamless.
After gather all information which have confirmed that organization will continue to lead well. Organization brand is well known all over the world because of it is great service, great employees, creative reliable product. Responsible with approach to business as well as over the world citizenship, globalization with partners as well as customers. Organization is taking over the world in improving direction for new generation. Maintain good culture value, respect to customers, shareholders, employees, socially responsible co-operative citizens. Organization trying to be best brand in field of electronics materials over the world by increasing its price quality, size, capacity or power of the devices.
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