2. What type(s) of control of employees and production processes is/are used by your selected company? Justify(1 mark)

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Consider the same company ‘X’ that you have already used in assignments 1& 2 ( I uploaded them below because you need to check them first )

and answer the following questions.

1. Evaluate the performance of the main activities of your selected company. What type(s) of criteria do you use to evaluate this performance? (1.5 marks)

2. What type(s) of control of employees and production processes is/are used by your selected company? Justify(1 mark)

3. How does the corporation manage the environmental risks? (1 mark)

4. Evaluate the competitive advantage of the corporation. Suggest some recommendations in order to to improve it. (1.5 marks)

 

UNFORMATTED ATTACHMENT PREVIEW

Environmental Scanning and Strategy Formulation for Samsung 1. Briefly present your selected company (name, industry, nationality, location, size, activities, products…) (Max 200 words). (0.5 marks) Samsung is a popular large-scale tech company that majorly deals with largescale production and sale of smartphones and hardware integration. The company’s original shares are listed on the Korean Exchange (KRX). They have their preferred shares listed on the Luxembourg Stock Exchange (LUxSE) while the London Stock Exchange ( LSE) has listed Samsung’s GDR (Jung, 2014). The Company was established in 1938 and has its headquarter located in the city of Seoul, South Korea. The market structures within which Samsung has operated over the years are can be summarized into two, both a perfectly competitive market and an oligopoly (Jung, 2014). These two structures have come out as outstanding market structures utilized by the company for very long periods. Other than smartphones, the company deals in other products and services such as electric automobiles, biotechnological devices, the construction sector, and smart wearables, among others. The company has one of the best profit margins in the technology sector with an estimated 288 billion US dollars every year. They have significant joint ventures with other companies in the industry like Sony. Samsung has also invested in notable causes across the globe like in the United Nation’s SDGs. 2. Determine the opportunities, threats, strengths, and weaknesses of your selected company by completing the SWOT matrix in the answer sheet. (1 mark) Opportunities Threats -Tie-ups with Telecommunications Extreme taxation policies operators for handset SIM selling Rising competition from the East Market gaps in heterogeneous Uncertainty existing in products like smartwatches and other government policies and political such smart devices, IoT products. heats Gaps in rural markets Collaboration between retailers, Market gaps in the low price low-cost producers, and private segment. labels. Strengths Weaknesses A healthy international brand image The company is highly dependent Benefits from economies of scale on OEM. and economies of scope They focus more on high prices Good leadership and premium segments and this Highest patent growth drives away potential customers. Very high innovative capacity There is product cannibalization since there is very little product differentiation. 3. Does your selected company have a social responsibility? If yes, discuss its impact on the competitive advantage of the corporation. (Max 400 words) (1 mark) Samsung, through their division on Devise Solutions, carries out their social responsibility activities intending to improve the lives of disadvantaged people in the local communities and across the world. Such Social responsibility activities include providing learning materials for libraries in disadvantaged communities, educating both children and adolescents, giving sustainable livelihood support for low-income families, providing healthcare for children with rare and hard-to-cure illnesses, as well as providing medical healthcare services to needy people in disadvantaged regions across the globe (Chang et al., 2019). Additionally, the company has made concerted efforts in reforming and rebuilding schools that have long been neglected and other facilities such as community centers and social halls into children’s study rooms and libraries (Chang et al., 2019). They have also committed themselves to stock these libraries with books and other such material. They have successfully done this in countries like Iraq, Bolivia, India, and Uzbekistan. This humanitarian project was initiated in 2012 and became very successful. The project has since been combined with the scholarship and Eco-Generation program to develop disadvantaged individuals in the community. Conclusively, Samsung has developed sustainable efforts aimed at developing the social growth of the individuals in disadvantaged communities. The company helps them to develop in areas like education, social, and economic sectors within communities to which their customers have an affiliation (Chang et al., 2019). This gives them a relative advantage over their competitor’s in terms of maintaining their brand image and market share. 4. Based on figure 4.3 (Ch4-slide no 18) and the textbook text relative to Porter’s Five forces of competition framework, assess the power of the buyers, suppliers, and substitutes of your chosen company. How formidable are the barriers to entry and how intense is the rivalry among existing firms? ( 2 marks) Porter’s Five Forces Framework Bargaining power of Suppliers – Most suppliers in this industry supply cheaper services and therefore have low bargaining power. Bargaining power of buyers- For Samsung, the buyers in the market have a variety of product choices and therefore have higher power (Haizar et al., 2010). The variety of choices is brought about by Samsung’s oligopolistic and perfect competition market structures. Substitutes- Over the years, innovations and development of existing ones from other firms have brought about close substitutes to Samsung’s products. These companies, especially those from China, have easier taxation and licensing policies and therefore will continue to produce substitutes. Barriers to entry- The major barriers for infant firms in this industry include heavy initial capital, constant innovation, and high marketing costs. The threat of rivalry between existing firms- Rivalry is very high because of the ever-evolving technology that makes it hard for the whole industry. 5. What is the competitive strategy used by your selected company? Justify. (0.5 marks) Samsung focuses on two major strategies to beat the competition. These two are Cost Leadership and Differentiation. The two strategies focus on developing the Company’s market share in the mid-premium pricing sector. References Chang, V., Zhang, W., & Xiong, C. (2019). The strategic view and development of corporate social responsibility: the case study of Samsung. International Journal of Strategic Decision Sciences (IDS), 10(1), 105-130. Haizar, N. F. B. M., Kee, D. M. H., Chong, L. M., & Chong, J. H. (2020). The impact of innovation strategy on organizational success: A study of Samsung. Asia Pacific Journal of Management and Education, 3(2), 93104. Jung, S. C. (2014). The analysis of strategic management of Samsung electronics company through the generic value chain model. International Journal of Software Engineering and Its Applications, 8(12), 133-142. Ruiz, E. H., Restrepo, C. A. P., Lopez, C. A., & Kee, D. M. H. (2020). Samsung: Customer loyalty strategy in Malaysia and Colombia. International Journal of Accounting & Finance in Asia Pacific (IJAFAP), 3(2), 57-67. 1 Management Questions Student’s Name Institutional Affiliation Date 2 Consider the same company ‘X’ that you have already used in assignment 1 and answer the following questions 1. Describe the roles of directional, marketing, operations, and human resource strategies in the overall well-being of your selected company. (2 marks). Samsung has employed the following marketing strategies to be able to attract new customers and retain the old ones in the company. A) Market Segmentation Samsung uses the concepts of both Psychographic and behavioral segmentation. These two concepts are used interdependently in some markets and independently in others to win new customers (Palmatier Crecelius, 2019). The following are the various market segmentation used by Samsung. I) Geographic segmentation: A product like Samsung galaxy has been designed for a modern population whereas a product like Samsung guru has been designed to best suit the rural population. II) Demographic segmentation: Most of Samsung’s products have been designed to suit the youth mainly in the age of 16 years to 29 years. III) Psychographic segmentation: Most of Samsung’s products have been designed in a manner that fits the customer’s lifestyle, preference, and budget. IV) Market targeting: Since the market has already been segmented based on various elements as discussed above, the target market is chosen to deliver the best products to the customers. B) Market positioning Samsung uses the following market positioning strategies to attract customers. 3 Promoting various products through concept notes. Their devices have all been characterized concerning their features, prices, and their distinct functions (Palmatier Crecelius, 2019). Samsung also prides itself on providing exceptional customer service to its valuable customers. The company also aims to provide new technology products at a lower price for their customers. They also try as much as possible to sell distinct products at the best prices. C) Human resource strategies Samsung uses the following human resource strategies; To provide a conducive working environment for their staff. The company provides a lot of staff training and development opportunities. They have a culture of developing every staff member by recognizing their work and challenging them with new tasks. D) Operations strategy The company invests heavily in R&D by putting in as much as 9% of its revenue on this venture. Some competitors like Apple only invest 2.4%. Most of their production is outsourced from China and they, therefore, have a relative advantage in terms of production cost. They have been able to keep track of their distribution channels by using delivery vehicles and staff. Finally, they have very effective and efficient customer service across all their stores worldwide. 2. Classify the products of your selected company based on the BCG matrix. (1 mark) Here, I have explained the entire concept but I didn’t draw the BCG table as it was having issues with scale adjustment. To draw the table, I request you to see the explanation & examples below. 4 In the BCG matrix, a product line has four categories- Dogs, Question Marks, Cash Cows & Stars. A BCG Matrix uses 2 variables; the first, the Market Growth Rate, and the second, a Relative Market Share, to help allocate resources (Andolfo, 2018). Since Samsung consists of multiple (SBUs), it uses BCG Matrix to withstand any financial setbacks, that is how & where to allocate extra financial resources & how to divest to minimize the loss in the market (Andolfo, 2018). Samsung sells diverse products like phones, microwaves, refrigerators, micro SD cards, Televisions, washing machines, printers, and cameras. Question marks: Samsung Printer can be categorized as a question mark on the BCG Matrix because of the dynamics of the market, which is High competition & a small market share of printers facing competition from other printers like HP. Stars: Samsung Mobile phones and TVs are stars because they have a very high market share. Cash Cows: Samsung home appliances such as Air conditioners, Washing Machines & microwaves, are cash cows because the Samsung brand is known for quality and is thus trusted by customers. Dogs: Samsung smartwatches can be classified as Dogs because they have a specific target market and their growth rate is low. 3. Describe at least one partnership that your selected corporation has with another company (es). Is it successful? Justify. (1mark) Samsung has had a long-lasting partnership with Microsoft since 2017. This partnership has brought about more efficiency in productivity experience for their handheld gadgets like phones and applications (Parashakti and Ekhsan, 2020). The partnership has been successful as can be proved by the successful Microsoft 5 integration which produced Galaxy Book S and Galaxy Note 10. This partnership had a huge effect on customer satisfaction as can be proved by the hike in sales for the new product. This partnership has created a platform for the two companies to work together to beat competition from Apple. 4. Describe the structure of your selected company. (1 mark) Samsung uses a Functional Structure. Here, all offices are instructed under the principal head of capacities of IT, Device Arrangements and Collaborate Administration, and Consumer Electronics. Interior capacities are under these capacities (Chang et al.,2019). For example, LED is under gadget arrangements. A functional structure helps Samsung to have specialization and therefore make unique products. This structure poses a challenge when it comes to cooperation and communication between two or more divisions. Also, Samsung has a corporate culture that emphasizes the skills of staff to remake technology products of the company like laptops and TVs (Song et al., 2016). Due to this, the company’s organizational structure focuses on better products that help to improve lives and the society at large (Chang et al.,2019). The functional organizational structure reflects the long-term measures that will be used to help the company outdo competitors in the industry. 6 References Song, J., Lee, K., & Khanna, T. (2016). Dynamic capabilities at Samsung: Optimizing internal co-opetition. California Management Review, 58(4), 118-140. Chang, V., Zhang, W., & Xiong, C. (2019). The strategic view and development of corporate social responsibility: the case study of Samsung. International Journal of Strategic Decision Sciences (IJSDS), 10(1), 105-130. Andolfo, I. (2018). Chaebols, the engine of the Korean economy: a case study of the Samsung Group. Palmatier, R. W., & Crecelius, A. T. (2019). The “first principles” of marketing strategy. Ams Review, 9(1), 5-26. Parashakti, R. D., & Ekhsan, M. (2020). The Effect of Discipline and Motivation on Employee Performance in PT Samsung Elektronik Indonesia. Journal of Business, Management, & Accounting, 2(3), 653-660. …
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