Samsung Essay Example | Topics and Well Written Essays - 3500 words

Samsung - Essay Example The headquarters of the company is situated in Seoul, South Korea and functions in over 100 countries across the globe. The Samsung group of companies is the largest conglomerate in the worldï€ ¬ in terms of revenues and the fact remains that â€Å"exports by Samsung Electronics Co., South Korea's most highly-valued firm, made up for 16.5 percent of the country's overseas shipments 2010† (Samsung Accounts for 16.5 Pct of S. Korean Exports in 2011, 2012). Samsung is renowned as one of the top growing international brands and functions in consumer electronics industry, consumer appliances as well as produces and sells a wide range of products including mobile phones, washing machines, televisionsï€ ¬ laptops etc. It becomes evident from this that the company gives top priority to the consumer electronics section. â€Å"In 2012, the brand value was worth USD 23.43 billion, which was a 20% increase from the previous year† (Global Harmony with People, Society & Environ ment, 2011). It is a fact that since the commencement of the business and up until the 1980sï€ ¬ Samsung was a follower not a leader. Samsung Electronics in Korea has transformed into a high-class business organization by shifting roles from an innovation follower to an innovation leader. In the late 1990s, Samsung opened a devoted â€Å"Value Innovation Program Centre† to recognize the core prospects to compete with its rivals. This is an incorporated five-floor facility? where value improvement is employed as a procedure and applied in numerous lines of products. 2.2 Internationalization Process Even though the organizational strategy of Samsung for the 90s revolves around consolidation, the strategy for its corporeal manufacturing facilities entails increasing progress offshore. The earliest abroad production efforts of Samsung were a Portuguese joint project operation set up in 1982, a United State subsidiary established in the year 1984 and also another established Mexican subsidia ry in 1988. They had proficiency in the production of color TV sets and several core constituents. In the late 1988? it also possessed twelve subsidiaries for sales outside Korea. 2.2.1 Samsung in UK In UK, Samsung intended to expand its smart phone delivery by trebling its product line, since it drops behind by its competitors like Apple and Nokia. â€Å"Although Nokia is market leader, but in case of smart phone Samsung emerged as leader† (Kaushik, 2012). Samsung holds only 3 per cent market share, against Nokia (35%) and Apple (17%).   UK Legislation like high levying for energy bill too encourages substitutes into the electronic industry which is a growing threat for the sector. â€Å"During London 2012, Samsung will also showcase its cutting-edge mobile technology at the Olympic Park and across major sites in the city to enrich the Olympic Games experience for spectators† (IOC marketing: Media Guide, 2012). 2.2.2 Samsung in Foreign Countries Subsequent to the