Samsung Company Analysis - 4950 Words

Samsung Company Analysis Report (Essay Sample) Content: Samsung Company Analysis ReportAuthor:Institution:Date:IntroductionCompany's history and market strategyThe originality of the Samsung Company can be dated back in 1938. The Korean company was started by Lee Byung Chul, who was a Korean resident. The company first had its operations in the country and with the subsequent innovations growth and developments of the company the company has been able to venture into different countries worldwide in the enhancement of its sustainability. After its establishment, the company stayed for a long time without venturing into the electronic market until late 1960s.The company started to deals in the production and assembling of electronic devices such as radios, mobile phones, TVs, fridges among other households' electronics.The company had some undertakings such in the year between 1970 and 1990 the company attained the standards of hardware that are adequately fit for the telecommunication industry (Beer, 2005). Such a move is among the high takes that the company took to enable it attain its current status and standards in the telecommunication world. In 1992 Samsung Company was the main memory cards chips producing company in the world which was among its entry points into the dominance of the electronics world.The starting of the Company's venture in the electronic world was facilitated by the incubation period between the starting of the company's operations and the time it was formed. This had been an ample time for the company's operations to be strategically arranged and formulated to ensure that they are effective and efficiently undertaken once the company started its operations (Chopra Meindl, 2001). This helped the company in the production of quality products that do not disappoint the consumers. In South Korea, Samsung is the largest electronics company that dominates the electronic business in the country and its neighbors. The ability to dominate in the area was, as a result, of the high q uality products that the company produced.Beer (2005), the products demands are well and effectively enhanced by the fact that the company's products are of quality standards that are not disappointing to the customers who rely on the company's products for their satisfaction. This has made the company gains its market dominance in the different geographical locations that itlocate as well as its subsidiaries. Being able evenly to dominate the electronic markets in the locality, the company has gained the loyalty from the customers thus being much easier for it to earn more profit that has propelled its extension to the rest of the world.Chopra Meindl (2001), Samsung Company's dominance of the company's electronics especially the mobile phones bring about the growth and the development of the company's brand name. Through the creation of an adverse environment for its products the company can now efficiently undertake its product manufacture without worries of whom; to be the consu mers as they already has an existing business. The company has also ventured into foreign countries in a move to offer its services to the customers in the foreign countries. In the venture in the international markets, the company has been applying different strategies to enhance its dominance and sustainability in the markets.Pederson (2010), the company has many competitors in the electronic market such as a mobile phone companies such as LG, Nokia, Apple, Blackberry, HTC, Alcatel, Sony, Motorola, Tecno mobiles among others. The competitors are at a rise as they also try to achieve the market dominance with their services and products. On the other hand in the face of appliances especially the home use appliances, such companies as LG, Armco, Phillips, and Sony among others are also in the move to dominate in the market. This poses a threat to the company of losing its dominance in the market.Samsung Company's business strategyThe company's strategic plans in its business underta kings are stipulated, and they clearly and effectively influence all its undertakings making them a success. The operational capabilities of the company are what have led to the improved quality products and services that the company offers. Through these improvements, the satisfaction of the customers is usually attained thus having the customer security in their retention to the company (Drucker Maciariello, 2008). The strategic, operational strategies have also led to the reduced cases of errors and fraud thus enhancing the efficiency of the operations within the country. So, the ability to open more branches in foreign countries has resulted from this efficiency in the operations of the company.In Samsung Company's promotion operational strategies in the international business, the company has established several marketing strategies that have made it much more effective to run in the foreign countries (Levine, 2002). The company's ability to set several subsidiary companies is one of the greatest achievements in promoting international business. The subsidiaries found in most of the countries where they find it conducive to manufacture and assemble their products. The availability of skilled labor, raw materials and market are the major criteria used in selecting the proper geographical location to set up their branches they facilitate an effective operational strategy of the company.Through the branches, the customer satisfaction is usually attained. This is because; the clients can easily and efficiently get the products of their choice hence enhancing their loyalty through the satisfaction. Customer's loyalty makes it more appealing to the company as it makes it more likely of the customer's return. The subsidiaries have also provided jobs for the local community in the located areas. This henceforth makes the community in the area have the passion for being associated with the company's brand name as they are proud of the company.This is a business s trategy that aims at the different customers who have the differences in their taste of the goods and services. This makes is much more efficient for the customers to have their access to the company products that suit their technological advancements. Advertisements are also among the business strategies that the company has been employing in its undertakings (Schermerhorn, 2005). This enhances the familiarity of the products and services to the different individuals thus making them to have the awareness of the products. Being the official sponsors of one of the European football club, Chelsea Fc, it helps the company in branding its product through the sponsorship.This is because, most of those watching the English Premier Leagues among other International games and sports get to see the extended services of the company and gain some brief or rather general knowledge about the company (Jenster Hussey, 2001). This leaves many with the urge to try out the company's products from t he company.As they develop the urge, they tend to be forced to have the products from the company or rather the company services thus ending up with the products from the company. This is a concept that tends to increase the sales of the company thus increase in the profitability of the company.With the company's continued innovation in their products and services, this has made it possible for the company to extend its services to clients of all standards. This is enhanced by a wide variety of Samsung products such as the various mobile phones models with different features thus being satisfying to the different levels of individuals with different technological advancements. The wider range makes it more competitive with the other competitors as they can be widely found to choose a suitable product from.However, with the innovations, the customers can access the products and services from different sources the internet where they can make orders and even purchase the products onli ne. Such services as free delivery are also among the extensive customer services that are offered thus acting as a motivational factor to the customers (Bisen Srivastava, 2009). As the technological field of electronics keeps on changing, Samsung keeps on advancing according to the level of the competitors' encroachment in order to keep pace in the advancements. The company also tries to come up with unique and quality products that are totally different from those of competitors.' This helps in marketing the company's brand name and the sustainability of the company in its higher profile. Highly experienced engineers run in the company's production departments thus enlightening and maintain the high productivity of exceptional products.Barriers and their effectsOn venturing in its undertakings, the company has been facing many problems through the venturing period to its achievement of the competitive advantages. The risks of liquidity in its early stages are the limiting factors to a company growth and development. This faced the company but with its strong operational strategies it emerged and overcome the risks (Mill, 2001). The company's operations despite its dominance in most of the countries in the electronic market, it has been facing challenges that the world otherwise led to its closure. The laid down strategies are the motivating and enforcing factors to the success of the company in all its undertakings.The emergence of the counterfeit gadgets is a threat to the company's loss of customers who would be confused and end up buying the counterfeit products which are usually short serving. Once a customer acquires such a product he or she feels let down with the kind of services that the product offers to them. They ends up blaming the company of having poor quality products and services that end up disappointing them which in real is not the case. This makes the co...