Table of Contents
2.0 Background of Samsung.
3.0 Leadership, organizational culture, and structure changes for the last 10 years.
4.0 Application of theories and models in Samsung case.
4.2 Macro-environment analysis (TEEP analysis)
4.3 Microenvironment analysis (Porter’s Five Forces)
4.3 Samsung’s stakeholder analysis.
4.4 Samsung’s organizational culture.
5.0 Roles of business functions in Samsung.
5.1 R&D in Samsung.
5.2 HRM in Samsung.
5.3 Samsung’s Corporate Social Responsibility (CSR)
5.4 Accounting and Financial functions of Samsung.
5.5 Samsung’s SWOT analysis.
5.5 Customer satisfaction in Samsung business.
5.6 Marketing and advertising functions of Samsung.
6.0 Samsung’s strategies for the next decade.
Bryson (2017) said that strategic plans can be defined as the systematic plan for the business organizations by which they can take the opportunity from the market. The success of the strategic plans depends on the strategic directions. Both Strategic plans and strategic directions play an important role in the development of the overall performance of the business (Dobbs, 2016). The strategic plans should be up-to-date and updated regularly. The functions of business are affected by internal and external environments. These factors of the environment are changing rapidly. The internal factors of business include the factors located within the firm such as employees, the structure of the organization, and cultural factors within the firm.
On the other hand; external factors include the competition in the market, social factors and economical factors, environmental and technological changes, and preference of consumers in the market. All the factors affect the strategic plans and strategic directions of a firm. For this reason; every business organization evaluates the internal and external issues to set up the strategic plans and reduce the effects of the changes. This assignment identifies the strategic changes and direction of Samsung for the preceding 10 years and describes the functions of Samsung. This assignment also mentions the future strategic plans and directions of Samsung.
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2.0 Background of Samsung
Lee Byung-Chul was founded Samsung as a small trading company in 1938 in Korea. According to Samsung (2017), it is the largest technological company in the world. Samsung spreads all over the world and it is also the largest mobile phone maker in the world. Samsung produces various kinds of products like electric components; consumer electronics, semiconductors medical equipment, etc. It has 500,000 staff all over the world. The number of customers of Samsung is increasing day by day. The company’s revenue is growing rapidly. According to Samsung Annual Report (2016), this company has earned $305 billion in profit, $22.1 billion in net profit in 2016. The amount of total assets is $529.5 billion in 2016. Samsung has applied a strong and productive leadership and management approach to lead and manage the employees and other factors of production and become the world’s largest company.
3.0 Leadership, organizational culture and structure changes for the last 10 years
The structure of the organization of Samsung is very simple and it is categorized on the basis of division of leadership and functions. According to Al-Enzi (2013), in Samsung, the CEO is considered as all in the entire firm. He gets the right to control all the departments of Samsung. Samsung has applied the centralized management system. The lower-level managers have no right to participate in decision making and other higher-level activities. All decisions of the firm are taken by the CEO and boards of directors. After setting up a decision, the board of directors distributes it to the managers and then managers distribute it to the lower level staff for implementing it effectively and efficiently (Samsung Annual Report, 2016).
The senior managers have the responsibility to monitor the overall performance of the employees for attaining the goals of Samsung. The Samsung organizational structure is shown in the following figure:
Form the performance of Samsung in the previous 10 years, it has noticed that the leadership of Samsung has concentrated on the risk as well as the uncertainty of the firm and delivered their best effort for improving the growth of the firm and sustain the growth in the future. The leadership has considered the internal and external environmental issues for taking decisions about the raw materials and other factors of productions. According to Jung (2016), Samsung leadership has introduced the ‘Green Management Philosophy’ for establishing good management practice within the firm. Samsung Annual Report (2016), Samsung has considered the corporate social responsibility towards the society, investors, suppliers, owners, creditors, employees, and other stakeholders of the firm. Samsung has established various sectors within the firm to perform social responsibility. For instance, it has introduced Smart School, Samsung Care Drive, and Samsung Tech Institute……………..